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Re: Martin Armstrong interview
Interesting that Armstrong is saying a gold may go to $1300 or lower because he sees no inflationary pressures, even as oil is over $100.
Then again, from the admittedly only 2 or 3 instances where I tracked his specific claims, he has such wide ranges that the forecasts are essentially useless.
One example: (from 8/27/11)
Well, all of the 'tests' noted above were passed.The main monthly support lies at 1560-1575 for September and quarterly support lies at 1480-1450. Therefore, gold has not been broken yet. Next week the range to watch is 1825-1680. If gold can hold the low intraday of this week 1701, then gold may survive building a sideways pattern above 1480-1450. Moving to new highs is possible with November being the 11th month and next quarter being the 43rd. That would give us a spike high above $2400 area, but at the same time, it will open the door to a more pronounced drop in price with claims the Sovereign Debt Crisis is over.
November was a complete non-entity in terms of action. Gold started going down in late December.
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