Gold Correction an Opportunity?
Michael Dylan | May 15, 2017 08:22AM ET
Gold hit a bottom at the end of 2016 and has been in an uptrend ever since. The current correction is an opportunity to purchase gold around the Dylan Wave Theory support price of 1230. The profit target is 1360. An alternative investment is to purchase the GLD (NYSE:GLD) ETF at 117 or better. It is always easier to enter and exit an ETF or a gold stock like Anglogold, Newmont, and Barrick Gold then gold bullion.
Due to the economic cost of production of gold, I don't expect it to go below $1,100. If gold drops that low, buy more of it with confidence.
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