The anticipated attack on gold in this holiday season is upon us. Goldman Sachs announcement of the end of the gold run is no surprise. It shall join an ever-increasing pile of them that was last enhanced when gold was supposedly dead in the low $1500s.

Like I stated in that interview, these sell-offs were anticipated and likely to stay around at least until the New Year.

Normally, I would expect the $1,660- $1,665 area to hold but given the seasonality of liquidity drying up and the obvious assault that began with the selling when Crimenex opened last Friday, we can’t rule out a washout back to the mid $1550s. Whether such a scenario plays out or not I would hope you don’t let the gold perma bears get your goat and ruin your holiday season. The “mother” of all gold bull markets remains and $2,000+ gold is not a question of if, but when.

The author  of this well-written article expressed “exactly” how I feel about the U.S. stock market.  I continue to believe it shall rally to a marginal new, all-time high in 2013 then proceed to retrace much, if not all its gains from the March 2009 lows.

Goldman Sachs announcement of the end of the gold run

Update @ 7:55am: Peter’s latest Dec 5th interview covering all aspects of the markets

Peter Grandich’s writes Grandich.com where you can sign up for a Free Email HERE