In the case of gold, as you know we had a 10-year bull market and we peaked out in dollar terms on September 6. 2011 at USD 1,921 per ounce at which stage the gold price had somewhat overshot on the upside and we are in a correction phase.
I happen to think that the correction phase is not completely over but recently sentiment on both silver and gold have turned very negative. We may have a trading rebound year -trading rally and then some further weakness into possibly February-March and then probably a major low. Then the question will be whether the precious metals rally again and will they exceed the peak of 2011 or not. - in MoneyControl
Related, Newmont Mining (NEM), Goldcorp (GG), SPDR Gold Trust ETF (GLD)
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.
