Gold Price Forecast to Drop to $1450 by September 2012
Today, we have Gold trading around $1600.00 per ounce and analysts are still forecasting for a possible drop to $1445.00 to $1455.00 per ounce range by September 2012.
The Gold bull market is likely a 13 year bull cycle that will end in 2013 or 2014 depending on how you count.
Gold so far has been up 11 years in a row, which is extremely unusual for any asset. I don’t know of any asset in history that’s gone up 11 years in a row without a correction.
Gold Corrections in the market are normal and are the way things should work, but analysts don’t know when the correction will stop. If this is a typical 20% correction then gold should bottom at $1516 per ounce — another $88.00 per ounce on the downside as of July 5, 2012.
It’s normal for corrections to also go down 30 or 40 percent because it’s just the way markets work.
The gold market has corrected 15% from it high price of $1895.00 per ounce set back in September 2011 and could correct as low as $1137.00 per ounce. This doesn’t mean you should short gold at the moment because I suspect gold will be much higher over the next decade.