When an individual whom I respect has a very different point of you, I'm more inclined to doubt myself than to doubt them. I've been somewhat conflicted lately (well, I'm always conflicted – but I'm just picking one particular example) since fellow blogger Gary Savage is projecting gold will push its way much higher, to about $1400 or even more.
To be fair, Gary is saying gold is probably due for a correction soon, so we're in agreement there. When I look at a graph like this, I get way more excited about the short side than the long side.
Perhaps time will prove us both right – – that gold is indeed due for a meaningful correction, but ultimately it will move well into the four figures. I guess my time horizon is a lot shorter than a lot of other folks.
