Comex Gold has been moving with near-absolute fidelity to our Hidden Pivot targets lately, so there is little reason for subscribers to agonize over where the “Auggies” may be headed next.  The answer, unfortunately but obviously, is lower.  But the good news is that this particular phase of gold’s decline has the potential not only to engender a low that can be bottom-fished aggressively with a micro-tight stop-loss, but also to carve out an intermediate-term bottom.  The precise target is repeated in the Touts section of today’s newsletter for those of you who may have missed it the first time around.

Chat room regulars will already know that our Hidden Pivot price targets for gold rarely miss, and that even when they do, it is usually by no more than a tick or two.  Sometimes these turning points seem so very predictable that we designate them as “hula numbers,”  the implication being that, if they should fail to work exactly as forecast, we will subject ourselves to the humiliation of donning a grass skirt and dancing a hula in Times Square in the middle of February. We have yet to lose this bet, but neither are we eager to overdo it, since Times Square in the middle of winter is not an especially appealing place for the partially clad. Nevertheless, we are sufficiently confident in the current downside target to suggest that it be leveraged aggressively by anyone who feels that gold has gotten the better of him or her in recent months. Happy hunting!