Michael Oliver says a historic upside breakout just took place in the gold market and it will have big upside price implications for both gold and silver.
November 5 (King World News) – Michael Oliver, Founder of MSA Research: Gold broke through a range of performance readings vs. the S&P 500 going back to early 2021. That’s probably the most important technical data point of this month. The structure here is not subjective, but a clear horizontal defined by three advances up to 47.8% to 47.9% (gold’s price expressed as a percent of the S&P 500’s). Action closed credibly over 48% this month. That indicates that gold’s outperformance vs. the U.S. stock market (see the YTD graph on the next page) is about to accelerate in a head-turning way.
A Historic Upside Gold Breakout Just Took Place
Neither of these charts is for short-term traders. Rather, they’re for those with longer-term perspectives.
Silver & Gold Massively Outperforming In 2024
These are major asset categories here.
Breakout Triggers Remarkable Price Predictions For Silver & Gold
U.S. stock market gains (which we doubt will hold by year’s end) are vastly outperformed by silver and gold, in that order. Not shown here, but GDX (the gold miners ETF) is up just over 30% YTD, two percent shy of gold’s YTD gains. And…for those who missed the audio interview, gold’s historic upside breakout triggered remarkable price predictions for silver and gold. …to listen to Michael Oliver’s remarkable predictions for gold, silver, miners, and the stock market CLICK HERE OR ON THE IMAGE BELOW.
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