Gold Price Bottomed on the 18th of December

(Click the image above to enlarge)

The GOLDPRICE.ORG Gold Price Sentiment Indicator is based on a number of variables related to website traffic on goldprice.org and other popular gold and silver websites around the world.

You can see in the chart above that the Sentiment Indicator (the blue line) spiked at almost every major top and bottom in the gold price during the past year. Its last spike occured on November 30 when the gold price reached an intermediate top at $650. Since this time the gold price has been falling.

GOLDPRICE.ORG Sentiment Indicator Suggests the bottom is in for the gold price and that now is a good time to buy gold.

On the 19th of December 2006 the GOLDPRICE.ORG Gold Price Sentiment Indicator spiked which suggested an intermediate bottom occurred when the gold price bottomed on Friday the 18th of December at just under $612 per ounce.

We expect this will be the last correction before the gold and silver price rockets. This is one of the best buying opportunities in this gold bull market.

Even with reliable indicators like this one there are never any guarantees. There is always the possibility of a lower low, like occurred in October after the September low. That is why it is prudent to buy physical gold that you own 100% and why you shouldn't buy gold on margin.

Richard Russell of dowtheoryletters.com who has been publishing his newsletter since 1958 says:

"I don't buy gold futures. I don't buy gold on margin. I don't buy gold puts or calls. I don't trade gold. Therefore, when gold ran up to $540 on December 12th (2005), I didn't get excited. And then when gold dropped to just above $500 yesterday I didn't get depressed. You see, on a daily or even weekly or monthly basis, I don't give a damn where gold goes. I don't care because I'm holding gold in terms of years, not months or weeks or days. And I own it outright. I don't own it the way half of America own their homes -- namely, on (mortgage) margin."

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