by Avi Gilburt
During the summer of 2011, as gold was in the heart of a parabolic rise, the market was quite certain that we would imminently exceed the $2,000 mark. However, we expected it to top just over $1,900 and did not believe we would exceed $2,000, as the market was simply too euphoric at the time. Well, we know how that turned out, as gold topped out just $6 away from our target.
Back at the end of 2016, as the metals were heading lower, the consensus opinion was quite certain that gold would head below the $1,000 mark. However, we thought otherwise, and as the market had become too crowded in its thinking of a “certain” drop below $1,000, I continually warned that many of those waiting for sub-$1,000 levels may be left behind. And, thus far, we know how that turned out.