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$Gold Price vs. Brexit

June 21, 2016

I see traders everywhere worrying about how the Brexit vote will effect gold. Folks, forget about the Brexit. By this time next week the Brexit will already be fading into memory. Consequently, the market will go back to doing what it was doing before the vote.

Gold is rallying out of an intermediate cycle low. Gold has completed its bear market and is starting a new bull. Intermediate cycles in bull markets don’t top for at least 14-18 weeks. So quit worrying about a top in gold until August or September. Moreover, quit paying attention to the clueless analysts trying to tell you otherwise.

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