From Sean Brodrick, Resource Strategist, The Oxford Club:
Poll a bunch of stock analysts, and you’ll get grossly mixed forecasts for gold. Even after its rip-roaring 27% climb in the first half of the year, many big banks have a target on gold of $1,300… $1,250… or even lower.
If you ask gold bulls, the usual forecast is that the metal will zig-zag higher. And sure, that’s how gold – or anything – often moves. (In life, we’re rarely treated to a perfectly straight uptrend.)
But what if we’re all about to get sucker-punched? And by that I mean, what if gold’s only been “playing dead”… and now it’s poised to leap higher?
I’m seeing some things telling me it could happen now. We may soon get to the $1,519 target that I set in June.
Mind you, this is apart from the longer-term bullish picture for gold. This is a