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Below are the charts and comments from 56-year market veteran and analyst Ron Rosen:


“The price of gold is dramatically accelerating its rise through time!  If the gold bears could look beyond the end of their nose they would see the truth.  For the entire time period of Major Wave One gold never declined below the 13 month moving average.  When Major Wave Two began, a correction, the price naturally declined below the 13 month moving average (in the 2008 financial crisis - see chart below).  




With the advent of Major Wave Three the price of gold never declined beneath the 5 month moving average.  This is evidence of more than just a moderate increase in the rate of a rising price of gold.  It is a dynamic and exceptional long term increase in acceleration of the rise in price.  The correction, naturally, once again declined beneath the 5 month moving average (see chart below).




It will take several months before we know if the rate of acceleration has increased to where perhaps a 3 month moving average is the new rising bottom.  Smash?  I don’t think so.  Perhaps it’s just the gold bears gasping for air.  For people who feel discouraged, especially those holding mining shares, it is common knowledge that a third of a third wave is a rocket to the moon and it carries a load of mining shares with it.  So fasten your seat belts and don’t look back.  As for the silver bulls, their metal will carry the day with spectacular gains that outpace gold.”


© 2013 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 This material may not be published, broadcast, rewritten, or redistributed.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 Rick Rule, Jean-Marie Eveillard, Stephen Leeb, Pierre Lassonde, Gerald Celente and James Turk are available now.  Also, be sure to listen to the other recent KWN interviews which include Bill Fleckenstein, John Hathaway, Egon von Greyerz, Ben Davies, Nigel Farage, Eric Sprott and Art Cashin by CLICKING HERE.


Eric King

KingWorldNews.com

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