Gold Price: The case for gold at $4500 an ounce

Gold Investment - 12 December 2011

Alf Field, a retired accountant and investment analyst, has made it clear in a recent speech that the gold price is expected to reach $4500 an ounce in what he deems the third of five major waves relating to the long-term uptrend in the gold price.

Invest in precious metals today! Contact us for details.

Invest in precious metals today! Contact us for details.

Field, who was born and bred in South Africa, has recently come out of retirement to give a speech at the Sydney Gold Symposium, the only symposium relating to hard currency such as gold and silver in Australia. Field, who has migrated to Australia in 1979, has become well-known across the globe for the rather accurate predictions he made in several articles relating to the gold price and the global financial crisis. His gold price predictions are based on the Elliott Wave Theory (EW), “…a form of technical analysis that some traders use to analyze financial market cycles and forecast market trends by identifying extremes in investor psychology, highs and lows in prices, and other collective factors” (Wikipedia). In the relevant speech he made it clear that “…I have determined that once this present correction in gold has been completed it should undergo the largest and strongest wave in the entire gold bull market. The target for this wave should be around $4,500 with only two 13% corrections on the way” (Alf Field Sees Gold Going to $4,500 – Here’s Why, 24hGOLD, Lorimer Wilson, 30 November 2011). Thus, we can expect further gold price corrections down the road (or gold price volatility for that matter), but not half as worse as currently experienced and with a lot of upward price potential ($4500 an ounce and beyond).

Invest in precious metals today! Contact us for details.

Invest in precious metals today! Contact us for details.

Given the above and Alf Field’s rather solid track record, can anyone still afford to delay acquiring or buying gold, physical gold that is?