The cycles expert said a month ago that gold was headed much higher, but now, Charles says gold is headed much, much lower. Here are the details…
Here are some excerpts from that interview:
Don’t worry about the recent weakness in gold and silver because renowned financial cycle expert Charles Nenner thinks they both will rise in price soon, but not until after a bit more pain for holders of precious metals. Nenner says, “Gold is going to enter a new bull market. The first cycle will bottom after the summer. $1,212 per ounce is our downside target. If it hangs around there and it’s after the summer, we will probably give it a buy signal. If that breaks, we will come up with a new low price target, but it definitely will enter a new bull market. Gold is in a bull market even though it came down from $1,900 per ounce. . . . It’s going to pick up anyway in a couple of months, but is it going to be from $1,212 or a lower price target?”
And the interview in its entirety:
Well, it appears the cycles have given Charles new signals, because he just told Kerry Lutz that gold is headed lower.
Gold could be heading much lower in September after its current bounce is over. Charles doesn’t see any inflation ahead, but deflation could be coming back. Crude oil could be going lower to under $65. The next two months are going to be very interesting for sure.
Here is that interview in its entirety:
It is very hard to gauge the gold & silver markets right now.
These “markets” are throwing everybody for a loop.
Every pro, pundit, analyst, and expert, no matter if they are fundamentalists, if they are based on technicals, if they are cycles guys, or a blend of everything, pretty much everybody has been humbled.
Where is gold & silver headed?
That’s the $64,000 question, isn’t it?
Jim Sinclair says you must have a direct line to the inside to know where the price is headed.
In other words, you need to be part of the manipulators’ inner circle, or you need to have accurate, reliable and direct access to what the manipulators are doing.
Call it first-hand, direct knowledge from the inside, if you will.
Hear that little truth bomb right here (I’ve started the video at the exact time when Jim says it, so no fast-forwarding is necessary):
You see, gold & silver price suppression can only work for so long, and the same is true for the public’s confidence in, and ultimate use of, unbacked, debt-based fiat currencies.
All fiat currencies, including the US dollar, will fail, and the people will return to gold & silver as they have always done, every single time the in the past.
In the meantime, everybody is doing his or her best to make sense of these markets, and it is getting pretty messy.
I just tried to make sense of some information I received about what is happening with margin calls and forced liquidations as they pertain to paper silver futures contract trading over at E*Trade, and before the comments below this post fill up with “Half Dollar, you really blew that call”, I would say, I didn’t say the squeeze would be today, but, potentially, this week.
There is a lot of trading left before the week is over.
As Bill & Ted once said, “Strange things are afoot at the Circle K”.
Yes they are indeed.
– Half Dollar
About the Author
U.S. Army Iraq War Combat Veteran Paul “Half Dollar” Eberhart has an AS in Information Systems and Security from Western Technical College and a BA in Spanish from The University of North Carolina at Chapel Hill. Paul dived into gold & silver in 2009 as a natural progression from the prepper community. He is self-studied in the field of economics, an active amateur trader, and a Silver Bug at heart.