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Amid Stock Market Panic, Gold Could Fall 30% | Chris Vermeulen

 
  Amid Stock Market Panic, Gold Could Fall to 30% by Chris Vermeulen (photo credit: PR)
Amid Stock Market Panic, Gold Could Fall to 30% by Chris Vermeulen
(photo credit: PR)

Chris Vermeulen predicts a gold price pullback but remains bullish long-term. The correction could offer a once in a lifetime buying opportunity.

In a recent interview by Liberty and Finance, Chris Vermeulen, a renowned technical analyst and precious metals expert, shared his insights on the current state of the gold market. Vermeulen, known for his accurate market predictions, painted a compelling picture of where gold is headed in the short term.

Key Takeaways:

  • Gold nearing its peak: Vermeulen believes gold may be nearing its current upswing's peak, potentially reaching $2900 before a correction.
  • Potential pullback for gold: A 25-30% pullback for gold is on the horizon, possibly reaching $1800-$1900, presenting a buying opportunity.
  • Stock market correction incoming: Vermeulen anticipates a significant correction in the stock market (30-40%), coinciding with the gold pullback.
  • Silver's potential: While not at its all-time high, silver could experience a further run-up to $34 before a correction.

Vermeulen's Expertise

The interview highlights Vermeulen's background in technical analysis, evident in his focus on chart patterns and historical trends. He emphasizes his experience managing his own portfolio and uses The Technical Traders platform (https://thetechnicaltraders.com/) to educate subscribers on replicating his strategies.

Bullish on Long-Term Gold

Despite the predicted pullback, Vermeulen remains bullish on gold's long-term prospects. He views the correction as an opportunity to accumulate physical metals before a potential surge driven by a financial crisis.

Counterarguments and Considerations

The interview acknowledges opposing viewpoints, particularly regarding the US dollar's role. While some predict its collapse, Vermeulen suggests it might strengthen during a crisis, impacting gold's price in USD terms.

Awaiting Confirmation Signals

Vermeulen emphasizes the importance of price action confirmation before taking action. He advises waiting for clear reversal patterns on weekly or monthly charts to identify the precise top before exiting long positions.

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Conclusion

Vermeulen's analysis offers valuable insights for precious metal investors. While a correction looms, it might present a buying opportunity for those with a long-term perspective. As always, conducting thorough research and understanding personal risk tolerance remains crucial before making any investment decisions.

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This article is for informational purposes only. The opinions and analysis herein are those of the author and are not financial advice. The Jerusalem Post (JPost.com) does not endorse or recommend any investments based on this information. Investors should consider their financial situation, investment goals, and risk tolerance before making any decisions. Consulting a qualified financial advisor is recommended. JPost.com is not liable for any investment losses from using this information. The information provided is for educational purposes only and should not be considered as trading or investment advice.

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