Is It Safe to Start Buying Gold Stocks Yet?
Posted on April 04, 2012 at 16:10 PM EDT
One of the most common questions I field is: Can we buy gold stocks yet? We have seen gold consolidating and correcting following a 34-month Fibonacci rally which I said last fall was going to top out around $1 900 per ounce. This type of rally went from October of 2008 to August of 2011 and we saw gold rally from $680 to $1 900 per ounce during that time. In order to work off the bullish sentiment that was at parabolic extremes gold is required to spend a reasonable amount of time in relation to the prior 34-month ...
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