Hold your horses goldbugs, Martin Armstrong warns that it’s not the $1,308 level that matters, but gold must exceed $1,362 “to suggest that a change in trend is possible”…
$1500 gold within 90 days? That’s not possible. Is it?
The latest edition of Sprott’s Thoughts explains why we’ve already had the technical confirmation signal that a new bull market in the precious metals is in play:
Precious metals had a strong performance this week, so much so that Thursday gold soared through the $1308 level, long regarded as the technical point which confirms, once breached, that the bear market is over…
The red-hot gold stocks surged again this week in an apparent early-summer breakout. This strong buying is defying their seasonally-weak odds this time of year. Investors are flocking back to the miners as gold powers higher on also-counter-seasonal strong investment buying. Such unprecedented gold-stock strength in early June highlights how undervalued the miners remain relative to gold, but is suspect…
Legendary gold trader Jim Sinclair (the man who called the top in gold to the very day in the last gold bull market), and who has famously predicted gold will reach $50,000/oz in the current bull– says that when gold hits his $50,000/oz level, Silver will be GOLD ON STEROIDS…
Gold’s reversal of fortune over the past half-year has been epic. The strong gains so far this year have been overwhelmingly fueled by one dominant driver, massive investment buying. After shunning prudent portfolio diversification with gold for years, investors are finally starting to reestablish those essential positions.
And since their collective gold holdings were so incredibly low heading into 2016, reflecting hyper-bearish sentiment, gold’s investment buying has only just begun…
Is the gold and silver bull roaring back to life?
While gold should now consolidate Friday’s gains over the next couple of days, the consolidation may only last for the next few hours!
Horrifically, the institutional surge into the yen and gold safe havens in the first five months of 2016 may only be an appetizer of what lies ahead.
The Gold sector had a single day price spike on Friday.
Let’s see if there is any follow through buying this week to indicate that the pullback is complete.
I believe the recent long decline to be but a reaction in the giant bull gold market…
A NEW BULL MARKET in Gold and Silver is about to emerge as four long year of price suppression is soon to END this month of June. As stated last week, the current wave is a final capitulation wave down to wipeout any remaining Gold and Silver Bulls before a NEW Bull market suddenly arrives leaving all but the permabulls behind!
A NEW Gold Bull Market breakout awaits those who have stood the test of time….
The gold stocks are almost certainly in the early stages of a major new upleg. Given the widespread apathy and antipathy still plaguing this beaten-down sector, that’s hard for most traders to swallow. But the gold stocks’ performance this year has already been outstanding.
And heading into gold’s strong season, their gains should only accelerate.
Gold stocks’ overdue mean reversion higher is well underway.
Dr Ron Paul, the popular Presidential candidate and America and the world’s most popular libertarian voice, told CNBC yesterday that he “still believes in gold” and that “gold could go to infinity.”
Paul informed the MSM host why the long term case for gold remains intact (while Jackie DeAngelis stated gold’s 8% performance year to date is disappointing):
“Timing is the only thing. I remember watching gold when it was 35 dollars an ounce and we thought if it ever hit a hundred dollars, the world would come to an end. And then a thousand dollars, so; no, it’s good as long as we continues to do this [print money] , you know, it could go to infinity because when people just leave the dollar, who knows what.”
Precious metals investors have endured much hardship during the recent bear market but David H. Smith, senior analyst with David Morgan’s The Morgan Report, believes that another secular bull market in precious metals is already underway. In this interview with The Gold Report, Smith says that platinum group metals will lead the resurgence and have a favorable long-term risk/reward ratio.
He outlines some PGM, gold and silver companies that can grab the bull by its horns.
The landslide win of Narendra Modi just days ago is viewed by Indian economists as the catalyst that will raise Indian GDP growth to 8%. The bottom line is that India’s gargantuan population is young, vibrant, and hungry for gold!
The only way for Indians to get the enormous amount of gold they will demand as their economy grows, is to buy it from mines owned by Western gold community investors.
Technical analysts assume past prices are a valid basis for predicting what investors will pay tomorrow.
The Warren Buffetts of this world act differently: they care not what others think and use their own judgement of value. This means that value investors often buy when the trend is down and sell when the trend is up, the opposite of technically-driven decisions. A bear market ends when value investors overcome the trend.
Technical analysis is a tool for idle investors unwilling or unable to understand true value. It dominates price formation in western markets and distorts investor behavior by exaggerating any natural bias towards trends. It is this band-wagon effect that is the root of trend-following’s success, but also its ultimate weakness.
A better strategy is to make the effort to value gold properly and then act accordingly.