Gold prices have languished after spiking to new all-time highs in 2020. The Fed’s transitory inflation story is dead, as inflation spikes to 30-year highs. Some estimate the Fed’s favorite measure of inflation (PCE) could double from 3.5% to around 7.0% in 2022. Gold’s Bumpy Road Being a gold investor […]
Continue Reading →Below is a quick update on crypto and gold. According to Bloomberg, Yesterday’s flash-crash in crypto was triggered on the Binance exchange. Below is a chart and snippet from said article (link below). https://www.bloomberg.com/news/articles/2021-10-21/bitcoin-appears-to-crash-87-on-binance-in-apparent-mistake?cmpid=BBD102121_CUS&utm_medium=email&utm_source=newsletter&utm_term=211021&utm_campaign=closeamericas Bitcoin Crashed 87% on Binance’s U.S. Exchange Due to Algo Bug The price of […]
Continue Reading →Metals and miners continue to steady after forming September lows. Continued upside into November would be bullish. I see the potential for a buy rumor and sell the news event regarding the long-awaited bitcoin ETF. Bitcoin prices spiked lower this morning. Not sure if it was a glitch or actual selling. Either way, it […]
Continue Reading →China declares all crypto-currency transactions illegal Below is a snippet from the above article. China’s central bank has announced that all transactions of crypto-currencies are illegal, effectively banning digital tokens such as Bitcoin. “Virtual currency-related business activities are illegal financial activities,” the People’s Bank of China said, warning it “seriously endangers the safety of […]
Continue Reading →BARRICK GOLD 3-YEAR CYCLE: The 3-year cycle in Barrick Gold (GOLD) seems to set critical turning points every third September. With prices steadily declining for the past 12-months, the odds support a potential bottom brewing in the following days. Perhaps Wednesday’s Fed decision will force a low (possible spike low). From a technical […]
Continue Reading →GDX 15-MONTH CHART: If GDX stays above $33.00 in September, I see the potential for a Double Bottom (March/August 2021). An advance above $40.00 would confirm a bullish breakout and support new highs in 2022. GDX 8-MONTH CHART: Ending the week above $33.00 would be bullish. However, stiff resistance lies just ahead at […]
Continue Reading →The intermediate cycle in gold (chart below) has formed turning points roughly every 128-calendar days (4.2-months). That cycle just turned again, triggering an intermediate low on August 9, 2021. Gold must now stay above that low to prevent a breakdown to the $1500 to $1550 area. KEY PRICE LEVELS A sustained breakdown (more […]
Continue Reading →Gold prices stabilized after spiking below $1700 early in the week. A close on Friday above $1760 could trigger a bullish reversal and a potential double bottom. Before we jump into the weekend, I wanted to mention the weekly chart of gold. GOLD WEEKLY: A close above $1760 on Friday would create […]
Continue Reading →Gold Forecast – Must Hold Bullish & Bearish Price Levels for Gold and Miners Metals and miners continue to climb a wall of worry out of their June lows. In this update, I provide key prices levels to monitor into August. Overall, our long-term outlook remains firmly bullish. Red Flag or […]
Continue Reading →Cyberattacks are becoming more prevalent. A few weeks ago, bad actors attacked the Colonial pipeline and now the largest meat supplier in the U.S. I believe these attacks on infrastructure and the food supply will continue. We are no longer dealing with tech-savvy hackers living in their mom’s basement. These hacks are sophisticated and perpetrated by Artificial Intelligence. […]
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