Despite the pullback, it’s still early days for the gold bull market (great charts in this one), plus gold vs everything.
Gold vs Everything
August 19 (King World News) – This is some great stuff from Mike McGlone, Senior Commodity Strategist at Bloomberg: Markets are increasingly about gold vs. everything. The metal should outperform most commodities, with macroeconomic implications. For gold to reverse enduring trends and start underperforming copper, silver and crude oil, some strong — yet unlikely — forces are needed….
Early Days For Gold Bull Market
Above former highs of about $1,900 an ounce in mid-August, the gold bull market looks to us to be in early days yet likely to consolidate gains for awhile. Copper has a high risk of resuming its enduring slide, with implications for more quantitative easing that would aid gold.
Gold Is Likely To Consolidate Its Massive Gains
Gold Bull Just Getting Started
The potential for an enduring period of subdued consumer sentiment will keep gold prices well supported, if history is a guide. Our graphic depicts the University of Michigan Consumer Sentiment Index rolling over following an extended uptrend, akin to the year 2000.
GOLD…WILL HISTORY REPEAT? Look At The Tear Gold Went On (Yellow) Starting In 2001 The Last Time Consumer Sentiment Began To Plunge (White)
(Click to enlarge)
GOLD ALERT: This Is What To Watch Right Now
***ALSO JUST RELEASED: GOLD ALERT: This Is What To Watch Right Now CLICK HERE.
***To listen to Gerald Celente discuss his warning of “hell on earth,” plus gold, silver, major markets, and much more click here or on the image below.
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