Below is a chart and comments from 54-year market veteran and analyst Ron Rosen:

“We are headed for over $3,000 if gold remains in the current logarithmic channel that it’s been in since the beginning of the bull market in gold.  However, there is a good probability that when gold bottomed at $680, a new, higher rising channel began.

If that is true, and I think it is, we should approximate $4,500 sometime in early 2014 (see chart below which shows secondary targets between $3,700 and $4,500 for this leg in gold).  Alf Fields is very well known, and he had a target of $4,500 for gold as major wave 3.  I think that can be reached sometime in early 2014 if we have formed a second channel (in gold).

The way things are looking, based on today’s (Friday’s) action and year-end action, I think we are headed for that number.... 

Continue reading the Ron Rosen interview below...


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“I (also) think, like I wrote the other day (on KWN) that silver is headed for $100 at a minimum.  The reality is this is ... a 3rd of a 3rd (wave), and this should be a really big move.  It’s all there, it’s built-in, and frankly, if you want my unfettered opinion, this whole thing started in 1913 when the Federal Reserve was formed.

Everything we see in our charts long-term, including the Dow, begins in 1913.  The Dow is in the process of completing a major wave 4 which will take it down into the low 6,000s, possibly below 6,000.  That’s when gold and the Dow will once again cross and they will be (at a) 1/1 (ratio), just like they were back in 1980.  Gold hit $850 and the Dow was well below 850 (in 1980).

So anybody who is hesitating now is making a really big mistake.  This is not something that happened overnight.  It’s not a result of Franklin Delano Roosevelt.  It’s something that dates back to the creation of the Federal Reserve system. 

I have my long-term charts that in my mind are irrefutable.  It’s based on the rule of alternation, like all human beings and all people on this earth, we keep repeating the same thing over and over again.”

Eric King:  “Ron, I know you’ve been doing this for over half a century, and I wanted to ask you, this move that’s in front of us that you are describing, the violence of that, if people don’t position themselves ahead of that, pick up the physical gold and physical silver they want, how hard is it for them to get in as a move like that begins?”

Rosen:  “You mean emotionally?  Psychologically?”

Eric King:  “Yeah, sure.”

Rosen: “It’s very difficult, it’s very difficult.  They want to buy it at yesterday’s price.  I mean that’s the natural instinct.  If panic sets in, they’ll buy.  Those people that are short, they’ll cover. 

3rd waves are massive waves.  People that don’t know what they are doing, they are going to be on the sidelines and they won’t buy.  Those that have been in the business, people like me that have been around a long time, a bunch of old folks, they’ve learned their lessons.

I’ve learned to look to the long-term, to the past, look for what has happened before and see where all of this business started, and it started in 1913.  The people that have not jumped on board, I don’t know what they can do.  I don’t know how they can convince themselves, other than to study hard and fast and look to the past.”

In this incredible audio interview, 54-year veteran and market analyst Rosen gives specific long-term targets for both gold and silver, and discusses what investors should be doing with their money right now.  All KWN readers around the world need to go listen to him in this week’s KWN Weekly Metals Wrap -- Rosen was pinch-hitting for Dan Norcini.  Here is a direct link to access crucial information and listen to his extraordinary audio.

© 2012 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.  However, linking directly to the blog page is permitted and encouraged.

The interviews with Egon von Greyerz, Michael Pento, Wilbur Ross, Don Coxe (BMO $538 billion) and Ben Davies are available now.  Also, be sure to listen to other recent KWN interviews which included Art Cashin (UBS $612 billion), Nigel Farage, Bill Fleckenstein, Rob Arnott (RALLC $100 billion) and Gerald Celente by CLICKING HERE.

Eric King

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© 2012 by King World News®. All Rights Reserved. This material may not be published, broadcast,

rewritten, or redistributed.  However, linking directly to the blog page is permitted and encouraged.

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