Financial trends analyst Bo Polny, founder of Gold 2020 Forecast, believes gold and silver prices hit bottom in August and September 2015 and have now started a new long-term trend moving up.
Based on his forecast model, which combines analysis of historical cycles with mathematical calculations, he posted the following statement on his website:
This September time point is expected to be the last take down on gold and silver before the inevitable and long-awaited short squeeze finally begins in October. For those expecting new lows for gold, that’s not going to happen; and those waiting for $1,000 or lower gold are about to miss the boat completely and will be stuck chasing higher prices.
He believes September was the best time to buy gold or silver for years to come because October 2015 marks the beginning of a new upward trend in prices. So far, it looks like he was right. He predicted a five-year descending bearish wedge in gold prices would begin to break October 7-9, which is exactly what happened. It broke by about $7 or $8 on October 9. As of today, the price of gold has increased about 6% since the beginning of October.
He believes that marked the end of a long-term downward price movement and the beginning of a new upward trend, so he sent out a mass email to his subscribers telling them the wedge has broken, so enjoy the ride up.
He is forecasting gold and silver will continue rising in October until it reaches an intermediate top in November 2015 followed by a pull-back low and an intermediate secondary top expected in December 2015. His forecasted dates for the peaks and lows are only provided to his subscribers.
He expects gold prices to reach a minimum price target of just under $10,000 per ounce in the years to come, based on his assumption the price follows similar patterns as occurred during the 1970’s and 1980’s.
The information shown is based on Bo Polny’s comments in two audio recordings. The first one is an interview with Future Money Trends posted on October 17 2015.
The following is the latest video posted on Bo Polny’s website:
Author: James Bailey
James Bailey is a blogger, business owner, husband and father of two grown children. In 1982, he surrendered his life to the Lord Jesus Christ. In 2012, he founded Z3news.com to broadcast the message of salvation by reporting end time news before it happens.
© 2015, Z3 News. The first 200 words of Z3 News articles may be shared online in exchange for a clickable link to our site. Please include the author name and do not make any changes to text or titles. No image files from our site may be shared because we don’t own them. For permission to use our content in other formats, please contact us.