How to Forecast Gold and Silver Using the Wave Principle

All of Prechter’s real-time metals commentary during the bear market years

Robert Prechter correctly called nearly every major turn and trend in gold and silver during one of the metals’ most historically baffling periods. The years in question ran from 1979-2001, a period book-ended by gold’s $850 high in 1980, and its low near $250 in 2001.

Prechter believed that Elliott wave patterns would transcend fundamentals, new technologies and even the government’s intervention into markets. Which is why this is unlike any “How To” book you could ever read. Bob’s earliest forecasts came just before the manic high in 1980. Investors then were as crazy to own gold and silver as they would be to grab up NASDAQ stocks twenty years later.

You can imagine how Bob was received in January 1980, when Commodities magazine quoted him saying, “Silver can be expected to drop back to between $4 and $6 per oz. sometime in the next decade.” And on February 9, 1980, Bob said “Gold has registered a fairly classic blow-off, which I now believe has finished off the major leg III from the 1970 fixed-price low.”

But that’s only how the story begins…

This book shows you all of Prechter’s real-time calls for gold and silver during that 22-year span. In exquisite detail, you see exactly what Bob saw at the time and learn exactly why he made those forecasts. Every forecast delivers valuable insight into the real-time application of the Wave Principle, insight that helps you understand and apply Elliott to the markets you follow today.

Robert R. PrechterFounder and President, Elliott Wave International

Robert R. Prechter’s name is familiar to market observers the world over. Since founding EWI in 1979, Prechter has focused on applying and enhancing the Wave Principle, R.N. Elliott’s fractal model of financial pricing. Prechter shares his market insights in The Elliott Wave Theorist, one of the longest-running financial publications in existence today. Prechter has developed a theory of social causality called socionomics, whose main hypothesis is endogenously regulated waves of social mood prompt social actions. In other words, events don’t shape moods; moods shape events. Prechter has authored and edited several academic papers. He has written 18 books on finance and socionomics, including a New York Times bestseller.