Jim Rogers Gold Price 50% Correction Low During 2015Commodities / Gold and Silver 2015 Jan 08, 2015 - 06:44 AM GMT
Jim Rogers Gold outlook for 2015 according to a recent youtube video is for the gold price to halve from its all time high during 2015, which implies a drop from its April 2011 high of $1923 to $960 as the following extract illustrates -
"We have a lot of people who bought gold in the last 14 years. Gold has not had a proper correction for a long long time and in my view until there is a proper correction Gold cannot make a bottom and start over."
"Gold has not been down 50% in many years and that is not normal, most things go down 50% every 3 or 4 years, it's just the way markets work."
"If Gold were to go down 50% that would be $960".
Therefore a drop to $960 against the recent gold price of $1200 would translate into a 20% drop (-$240) for 2015.
The video continues with Jim discussing oil, stocks and other commodities.
My recent in-depth analysis concluded in the following trend forecast for the gold price during 2015.
31 Dec 2014 - Gold Price Trend Forecast 2015
Gold Price Forecast Conclusion 2015
My forecast conclusion is for the Gold price to trend lower into August 2015, targeting a low of $1050 before Gold finally makes a low for the year that propels the Gold price to above $1300, probably spiking to approx $1350 during November before correcting during December as illustrated by the below forecast trend graph.
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By Nadeem Walayat
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Nadeem Walayat has over 25 years experience of trading derivatives, portfolio management and analysing the financial markets, including one of few who both anticipated and Beat the 1987 Crash. Nadeem's forward looking analysis focuses on UK inflation, economy, interest rates and housing market. He is the author of five ebook's in the The Inflation Mega-Trend and Stocks Stealth Bull Market series that can be downloaded for Free.
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