All these things are good for gold, gold is a global safe haven, and the Fed is likely to continue stimulus, meaning gold could go much higher. It could be…
Chris discusses the current market conditions and why a trend change is coming as precious metals, miners, and bonds are all showing positive patterns this week. Sentiment is reaching new highs, and a lot of leverage is being deployed in the markets.
Chris is concerned about what could happen from a second wave of the pandemic. Things are starting to get pretty ugly, and anything could happen. He says, “This is the time you buy your gold, you buy your gun, buy extra food in case riots start happening… this is a possibility that you have to think about.”
Oil tends to correct itself, but since crude went negative, it has attracted short-term momentum traders. A small sideways pause follows each rally, but if a significant sell-off begins, there could be collapse as investors head for the exits.
All these things are good for gold, gold is a global safe haven, and the Fed is likely to continue stimulus, meaning gold could go much higher. It could be fantastic for precious metals and miners if they go ballistic with printing and further devaluation of the dollar.
Time Stamp References:
0:33 – Market sentiment and extreme leverage.
2:38 – Put/Call ratio and market trends.
5:08 – Blow off top?
7:30 – Bullish formation for gold.
8:35 – Silver levels for a breakout.
9:55 – Expectations for oil.
11:43 – Natural gas and fear in markets.
13:10 – Covid 2.0?
15:20 – Everything seems to be bullish for gold.
16:00 – Another sell-off a double-dip?