With gold and silver catching the bears by surprise, this is what is behind today’s action in gold and silver.
A New Bull Market In Gold
(CNBC) – The following was from an interview with Matt Maley, Equity strategist from Miller Tabek:
“…Commodity traders are watching a key resistance level: $1,375. That was the metal’s high in both 2016 and 2017. It will be a key higher-high if it could break above that level…If it breaks above $1,400, it will confirm a new bull market in gold is beginning.”
Gold Decisively Breaks Above 2011 Downtrend Line
(CNBC) – And this interview was with Carter Worth, of Cornerstone Macro:
“What we have is a head & shoulders bottom of sorts (see chart below).”
Powerful Head & Shoulders Bottom In Gold
“By my work this is the beginning of an important move higher, even though we’ve moved quite nicely from the lows of December.
Moving to Carter’s second chart…
We’ve broken out of that wedge…It is also is a very nice constructive setup on a technical basis (see chart below).”
Gold Has Broken Out Of Wedge
Finally, Carter’s third chart…
“Finally, the long-term chart which is fun. When I go to meetings a lot of people say, ‘Gold isn’t a serious proposition.’ And I always bring along this chart (see chart below).”
Strong 20-Year Performance From Gold!
“And what it (the chart above) shows is the past 20 years — it’s Gold vs the S&P, and then it’s the S&P Total Return. And what you see there, remarkably of course, is that not only is Gold beating the S&P handily on a 20-year basis, (but) it’s (also) kept up with dividends invested. So it’s a very serious investment…and by my work there is more to come on the upside (for gold).”
The Bottom Line
King World News note: The bottom line is that, short-term volatility aside, the wind is at the back of the gold bulls. This will translate into significantly higher gold prices in coming years.
Why I Bought 400,000 Shares Of This Gold Exploration Company!
A 20-Bagger In Gold?
Eric King: “I’m a shareholder (purchased 400,000 shares so far in the open market) of your company (symbol TORQ in Canada and TRBMF in the US). I know the insiders have been buying as well and can’t seem to get enough of this stock. You guys are not in this for a double or a triple. When I see you guys (insiders) buying this aggressively (over 2.5 million shares of insider purchases recently), you’re looking to make 5X or 10X your money.”
CEO (insider): “You are right, we don’t look at making 20% or 30%. The large insider shareholdings means that we are really looking to monetize to a larger entity. Our vision is to build these assets and get to over $10 a share (roughly 20X higher than the current price of 53 cents!)…To learn more about which gold company insiders have been buying like crazy CLICK HERE!
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***Speaking of gold, KWN has just released the extraordinary audio interview with Gerald Celente discussing the action in the gold, silver and major markets as well as what he is planning to do with his own money in the gold market and much more and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
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