Michael Oliver, the man who is well known for his deadly accurate forecasts on stocks, bonds, and major markets, sent King World News an update as gold and silver are now close to upside breakouts.
Gold Remains Strong
July 29 (King World News) – Michael Oliver, Founder of MSA Research: Yes, we’ve heard it so many times: if stocks go down sharply, so will gold! Well, look at the action from the start of the year to mid April. Totally opposite. And of course, if you think that stock recovery would make gold give up its gains, look again. Instead, the monetary metal mama has held rock hard sideways. Repeated selling and selling, yet no sustained drop, just a few drops that looked like: “Oh, my goodness, it’s over!” But wasn’t. Instead, gold is holding steady, and if the S&P 500 et. al. trigger their weekly trading structures to the downside, we wouldn’t be surprised if gold again waves goodbye to them the other way. Upside. Again, for the S&P 500 that too-much-used structure at the zero line will come out if this week closes below 6292.35.
As for gold, MSA made an oops last week in saying that probably just a daily price close back over $3400 would start to end the repeated selling up there. But, alas, the sellers were still there. We probably should have deferred to a weekly close above $3400 (the same comments apply re silver getting above $39 on a daily close). But still, gold’s action is clearly not how that market tops.
KING WORLD NEWS NOTE: Gold Remains Strong Regardless Of Whether Stock Market Plunges Or Rallies
Silver And The Miners Have Been Vertical!
If the air is thin and it tops or corrects in a major way, then it does so. Efficiently. Obviously, persistent buyers are there despite the sellers above $3400. This is a launch pad for the next strong up leg in gold. And note that while gold has gone ho-hum lateral for four months now, absorbing the doubters repeated selling, silver and the miners have been vertical! You must subscribe to Michael Oliver’s MSA Annual Service to get his special reports as well as his stock picks which have dramatically outperformed the XAU Gold Mining Index. MSA also lists individual mining stocks in their reports that significantly outperform the HUI Gold Mining Index. To receive the special KWN discount to subscribe to Michael Oliver’s internationally acclaimed MSA Annual Research and gain access to their research and stock picks CLICK HERE.
Wild Card For 2025, Gold And More
To listen Gerald Celente discuss the Wild Card for 2025, what to expect for gold, and much more CLICK HERE OR ON THE IMAGE BELOW.
Gold Is Coiling To Surge $1,000!
To listen to Alasdair Macleod discuss the coming $1,000 surge in the gold market as well as what to expect from silver and the mining stocks CLICK HERE OR ON THE IMAGE BELOW.
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