Gold May Now Be Poised For A Staggering $600+ Surge

"On the heels of the announcement of Germany seeking to repatriate their gold, today top Citi analyst Tom Fitzpatrick told King World News gold may now be set up for a staggering $600+ move. Fitzpatrick has been incredibly accurate regarding his forecasts for both gold and silver.

 

Here is what top Citi analyst Fitzpatrick had to say, along with powerful charts: “We remain unequivocally bullish on gold. We are of the view that the present price action that we’ve been seeing is very reminiscent of what we saw going into 2007. So over the course of 2011/2012, we really believe all we’ve been doing is consolidating following an impulsive up-move.

This consolidation is similar to what we saw in 2006/2007, after which gold broke out and saw a significant push higher. We think we’re on very much the same path at the moment.

Assuming this is the correct diagnosis, we are not that far from the time frame where we would expect to see the upward momentum develop and the breakout in gold take place. But we do need to see some of the important levels on the charts we provided taken out on the upside in order to trigger the much higher upside targets we’ve been focused on for the past six to nine months..."

at http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/1/17_Gold_May_Now_Be_Poised_For_A_Staggering_$600+_Surge.html