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<p>[QUOTE=&quot;torontokuba, post: 1819587, member: 56793&quot;]Here is a good example of having to add truth into a fairy tale opinion, in order for people to still take the subject of PM&#039;s somewhat seriously. I believe the parts about the new lows. It&#039;s the &quot;multi-year bull market&quot; prediction that sounds like bull...</p><p><br /></p><p><i><span style="color: #808080">As of 1:42 p.m. EST, Comex December gold futures were trading at 1,244 an ounce, relatively flat on the day; however David Bensimon, founder and president of Polar Pacific, is <b>expecting prices to hit a new low in December and bottom out at $1,090 an ounce by early 2014</b> before gold starts another multi-year bull market.</span></i></p><p><i><span style="color: #808080"><br /></span></i></p><p><i><span style="color: #808080">Bensimon added that <b>prices could fall as low as $1,090 by December</b> but is looking for the ultimate test in early 2014.</span></i></p><p><i><span style="color: #808080"><br /></span></i></p><p><i><span style="color: #808080">&quot;Now it is very clear the structure favors the bearish outcome and <b>the market needs to reach that more powerful price level of $1,090</b> and the next timing window remains December, and in the latest report I highlighted an even more important timing window in early 2014,&quot; he said.</span></i></p><p><i><span style="color: #808080"><br /></span></i></p><p><i><span style="color: #808080">While some analysts expect the June lows to hold as the bottom, Bensimon said that <b>$1,090 an ounce represents a strong retracement level from gold&#039;s rally that goes back to 2001</b>. He added that the fundamental picture along with the recent price action doesn&#039;t make the June low a strong support point.</span></i></p><p><i><span style="color: #808080"><br /></span></i></p><p><i><span style="color: #808080">&quot;As the market evolved more naturally down… <b>people did not rush back in, in China</b>. You didn&#039;t see the same rush of housewives going out to buy gold as they did in April,&quot; he said. &quot;I think that gets lost a little bit in this shuffle.&quot;</span></i></p><p><i><span style="color: #808080"><br /></span></i></p><p><i><span style="color: #808080">Bensimon is not just bearish on gold, he is also <b>expecting weakness in silver prices</b>; he said he is expecting silver to underperform the yellow metal during this new down phase but will outperform when the correction is finished in early 2014.</span></i></p><p><br /></p><p><a href="http://www.nasdaq.com/article/gold-prices-could-drop-another-12-before-it-reenters-a-bull-market-analyst-cm305024" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.nasdaq.com/article/gold-prices-could-drop-another-12-before-it-reenters-a-bull-market-analyst-cm305024" rel="nofollow">http://www.nasdaq.com/article/gold-prices-could-drop-another-12-before-it-reenters-a-bull-market-analyst-cm305024</a>[/QUOTE]</p><p><br /></p>

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