On the heels of gold tumbling over $120 and silver plunging 15%, Michael Oliver, the man who is well known for his deadly accurate forecasts on stocks, bonds, and major markets, spoke with King World News about the massive takedown and said this is the kind of selloff you are going to get all the way up to $5,000-$10,000 gold.
Latecomers Shaken Out
August 11 (King World News) – Michael Oliver: “This is a mini version of the March selloff. The latecomers who were chasing at the recent high have now been shaken out.”
Not How Bear Markets Start
Eric King: “And Michael, this is not how bear markets start. They don’t ring a bell at the top. This is the kind of action you see in a major bull market. In a bear market, it’s ‘death by a thousand cuts’ before you even know you are bleeding.”
Expect Violent Trading All The Way Up
Michael Oliver: “Yes. Even the initial rally that failed in 2016 peaked in the summer. It took that market 2 1/2 months of writhing around before it even rolled over. This is the kind of break you are going to get all the way up, whether gold is going to $5,000 or $10,000 in this macro multi-asset crisis. You’re going to get $100 selloffs. You’re probably going to get $200 days on the way up, and pullbacks en route, partly because the market will get more volatile and be at much higher price levels. So expect it.
Also consider that the gold ever-bears have long complained that gold isn’t able to make new highs above those of 2011. Gold has freshly done so, and they’re still entrenched bearish. At numerous spots over the past two years they have repeatedly screamed ‘top!’ ‘Can’t go any further!’ Oh well. But as far as this being a major top? No. Don’t bet on it. This is an opportunity.” To subscribe to Michael Oliver’s remarkable MSA annual research, which is 35-50 reports each month on gold, silver, mining stocks, currencies, commodities and debt, at the KWN special discounted rate click here.
***To listen to the powerful audio interview where Alasdair Macleod discusses the possible collapse of the LBMA, trapped bullion bank gold shorts and much more click here or on the image below.
Macleod – A Big Correction In Gold & Silver Will Not Happen, Despite Pullback
***ALSO JUST RELEASED: EXCLUSIVE: Alasdair Macleod – Why A Big Correction In Gold & Silver Will Not Happen And Despite Pullback, A Spectacular Short Squeeze Will Unfold Because Of This Game-Changing Market Shock CLICK HERE.
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