Wellington Letter/Bert Dohmen/4-16-2023
“The long-term charts are still long-term bullish as we have written many times. In 1980, we did a cycle study of gold going back about 400 years. Of course, we had to go back to the early years in England. The cycles predicted a 20-year bear market starting in 1980, to be followed by a 30-year bull market starting in the year 2001.…The charts and our work suggest that the secular bull market is still “operative” and could last until 2030.”
USAGOLD note: Bert Dohmen (Wellington Letter) predicts gold will return to all-time highs, correct 10% from the top, and then resume its long-term secular market. He says that “nervous greedy traders who bought leveraged ETFs will usually sell at the bottom, where the smart money is ready to pick up the bargains in unleveraged vehicles.” Having been in the gold business for a very long time and experienced many corrections, we have witnessed first-hand the smart money buying the corrections like clockwork. Those buying at current prices will be making their acquisitions at the correction bottom Dohmen is predicting.