{"id":954,"date":"2011-08-01T21:50:47","date_gmt":"2011-08-02T01:50:47","guid":{"rendered":"http:\/\/www.silver-investor.com\/blog\/?p=906"},"modified":"2018-06-10T10:58:15","modified_gmt":"2018-06-10T10:58:15","slug":"gold-and-the-qe3-ship-are-both-about-to-sail","status":"publish","type":"post","link":"https:\/\/www.themorganreport.com\/blog\/gold-and-the-qe3-ship-are-both-about-to-sail\/","title":{"rendered":"Gold and the QE3 ship &#8211; Are both about to sail?"},"content":{"rendered":"<p><strong>David Banister- <a href=\"http:\/\/www.markettrendforecast.com\/\">www.MarketTrendForecast.com<\/a><\/strong><br \/>\nBack in Mid-May of this year we had a big rally in the Dollar and Gold was correcting hard.\u00a0 There was a bit of Dollar Bull hysteria at the time which I felt was quite unfounded.\u00a0 I wrote an article entitled, <a href=\"http:\/\/www.themarkettrendforecast.com\/forecasts\/the-dollar-bull-monkey-dance-will-end-badly-with-a-qe3-party\/\">\u201cThe Dollar Bull Monkey Dance Will Soon End Badly, QE3 Next?\u201d<\/a>\u00a0 You see, the collective herd psychology at that time, just a short ten weeks ago, was that Gold would drop hard at the end of QE2, and The Dollar would of course rally as high as 82, maybe more against the weighted index.<br \/>\nThe dollar has dropped hard since mid-May as I expected and Gold has continued to rally as well.\u00a0 I had forecasted $1627 for Gold back when we were under $1,500 and last Friday we closed at $1627 on the nose!\u00a0 During the mid-May time, most disagreed with my QE3 forecast, and probably still do but I think the ships is soon leaving port.\u00a0 This could blast Gold up to a target of $1805 on the high end and certainly into the low 1700\u2019s to the $1730 per ounce range.<br \/>\nGold has had a powerful\u00a0 5 wave rally (Elliott Wave Theory)\u00a0 since the October 2008 lows of $681 per ounce, and certainly one could argue that a correction would make sense fairly soon.\u00a0 However, the fundamentals for Gold are only getting stronger as we have inflation climbing at an 8-9% real rate and interest rates continuing to drop.\u00a0 This is creating a \u201cnegative\u201d real interest rate environment amidst a continuing weaker US dollar.\u00a0 Hence it is hard fundamentally to argue against Gold at this time, creating difficulty in forecasting the intermediate highs and lows.<br \/>\nWith that said, assuming QE3 or some form takes place soon then my $1805 target is quite likely to be hit before we can look for any meaningful correction in the precious metal complex. With the ISM manufacturing index turning down sharply as reported this morning and other economic indicators and GDP report rolling over, a QE3 ship horn is likely to sound soon. \u00a0Below is my latest chart dated July 22<sup>nd<\/sup> with Gold at $1599 at the time, outlining the likely interim moves in Gold using my crowd behavioral methodology that I employ at my forecasting service.<br \/>\n<a href=\"http:\/\/www.silver-investor.com\/blog\/wp-content\/uploads\/2011\/08\/ATP1.jpg\"><img decoding=\"async\" loading=\"lazy\" title=\"ATP1\" src=\"http:\/\/www.silver-investor.com\/blog\/wp-content\/uploads\/2011\/08\/ATP1.jpg\" alt=\"\" width=\"612\" height=\"432\" \/><\/a><a href=\"http:\/\/www.silver-investor.com\/blog\/wp-content\/uploads\/2011\/08\/ATP1.jpg\"><\/a><br \/>\nThe combination of crowd behavior and fundamental analysis often delivers stunningly accurate forecasts in advance on the SP 500, Gold and Silver at TMTF.\u00a0 Consider signing up for our regular updates and use our 72 hour coupon code at <a href=\"http:\/\/www.markettrendforecast.com\/\">www.MarketTrendForecast.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>David Banister- www.MarketTrendForecast.com Back in Mid-May of this year we had a big rally in the Dollar and Gold was correcting hard.\u00a0 There was a bit of Dollar Bull hysteria at the time which I felt was quite unfounded.\u00a0 I wrote an article entitled, \u201cThe Dollar Bull Monkey Dance Will Soon End Badly, QE3 Next?\u201d\u00a0<span class=\"read-more\"><a href=\"https:\/\/www.themorganreport.com\/blog\/gold-and-the-qe3-ship-are-both-about-to-sail\/\" title=\"Read More\">More<\/a><\/span><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[121,89],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.5 - 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