More: http://dailyreckoning.com/gold-the-once-and-future-currency/James Rickards said:Is gold off the bottom?
No one knows for sure. If the Fed raises interest rates on Thursday (which we do not expect), the effect will be highly deflationary and gold prices could move lower, at least temporarily.
Conversely, if the Fed doesn’t raise rates and offers some reason to believe it won’t raise them for the foreseeable future (so-called “forward guidance”), then gold prices could rally in anticipation of inflation.
It’s unfortunate that markets are now reduced to reading Janet Yellen’s mind. But that’s what happens after seven years of market intervention and central planning by the Federal Reserve.
Using my system, which combines complex dynamic systems analysis with unique access to relevant information, we’re able to draw some useful inferences about the future path of gold prices. Our estimate is that gold has now found a bottom and is poised to move steadily upward from current levels.
How distant is forward?I'm looking to buy a significant amount of gold but i'm hesitant because i'm not sure what to expect going forward...
Should i wait? If so, how low will it go??