Gold Market Bull Hanging Tough

The gold bull looks like he is hanging tough around the $900 an oz. level.

The impressive thing about this bull market in gold is that so far the advance has been very orderly. Oh sure, there have been a few wild wide range trading days but nothing like a near vertical move like you usually see at the end of great bull markets.

A lot of talk is going around that gold will reach at least $2,000 an oz before peaking for this cycle. As we have already made all time highs and with the gold market acting so well that forecast doesn’t seem nearly as far out as it would have just a couple of years ago.

The central bankers around the world, especially in the US, seem ready and willing to pour more fuel on the gold market fire. Cutting interest rates in an effort to bail out banks and equity markets at a time when inflation is already ramping up should keep gold more than well supported.

It’s like pouring rocket fuel on a fire that you say you are trying to extinguish. 2008, the Year From Hell, is going to be quite interesting for gold market bulls.

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