An intermediate “B” decline is now technically underway. Gold briefly dipped below its 65-week moving average but it quickly rebounded. This almost 7% B decline has been mild. But even if gold declines further to say its 23-month moving average, it would be giving back 10%, which would still be reasonably moderate. That is, gold would remain in a strong solid bull market.

Most important, this B decline is giving us another chance to buy at a good price before the next C rise develops. A clear gold rise above $1800 would see it heating up.

As many of you know, a C rise in a bull market is the strongest intermediate rise, when gold reaches a new record high. This means buying gold now is a great time to be adding to your position. If you already have all your positions purchased, then just sit tight.

By Mary Anne & Pamela Aden
Courtesy of www.adenforecast.com