One of the greats in the business just warned, “It is only a matter of time before a significant bullish break occurs that could trigger a rally to the tune of 25% in favor of Gold.” That would mean that if the S&P continued to trade at current levels, the price of gold would surge nearly $400.
August 28 (King World News) – Citi analyst Tom Fitzpatrick: “Sometimes the ratio between asset classes is too hot. Sometimes too cold. But sometimes the chart signals “Just right.”
Gold has begun to bounce off supports at $1,523-$1,532, which were important break levels this week…
To learn which junior explorer is looking to drill some of the best holes in the world CLICK HERE OR ON THE IMAGE BELOW
Equity markets continue to look vulnerable, especially given the deeper inversion of the US yield curve.
The Gold/S&P 500 ratio is therefore now testing key pivots that extend up to the Christmas highs. It is only a matter of time before a significant bullish break occurs that could trigger a rally to the tune of 25% in favor of Gold (see below).
GOLD/S&P 500 RATIO: Significant Bullish Break To Trigger A 25% Rally In Favor Of Gold vs S&P
A Serious Development In Favor Of Gold
The channel top, pivot of the 76.4% Fibonacci setup and inverted head and shoulders neckline all converge between 0.5244 and 0.54. A break above there, particularly if and when sustained on a weekly close basis, would amount to a serious development in favor of Gold. The inverted head and shoulders pattern points towards 0.667, which is some 25% above current levels. King World News note: That would mean that if the S&P continued to trade at current levels, the price of gold would surge nearly $400.
Gold Breaks Out, First Time Ever, Gold Very Attractive, Plus $21 Silver
READ THIS NEXT! Gold Breaks Out Once Again, First Time Ever, Gold Very Attractive, Plus Silver May Hit $21 Quickly CLICK HERE TO READ
To listen to one of James Turk’s best audio interviews ever that has just been released CLICK HERE OR ON THE IMAGE BELOW.
In the meantime, other important releases…
Schiff – Brace Yourself For Ride Back Up To $50 Silver, Plus Other Looks At Gold & Silver Surge CLICK HERE TO READ
ALARMING: This Spells Big Trouble For A World Already In Crisis, Plus Gold’s Next Target And Hi-Ho Silver CLICK HERE TO READ
This Will Trigger Even Higher Gold Prices CLICK HERE TO READ
Gold Hits All-Time High, Plus Keep Your Seatbelt Fastened CLICK HERE TO READ
© 2019 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. However, linking directly to the articles is permitted and encouraged