As early as April 9, 2009, the COD targeted GLD at over $125. And early this year, “The target of $125 could turn out to be low, but this is a topic that is regularly covered by the COD and I’ll advise if there are changes.”
See Sam Collins’ Daily Market Outlook here.
On June 9th the COD said, “We will now revise that target to $130 with the possibility of even higher prices later this year.
In such trying times investors usually flock to gold and now may be the final opportunity to buy it before a quick run to our target.” But an intermediate correction has temporarily interrupted the price of gold and a correction is now underway.
Hold off buying additional positions until this market stabilizes.
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