Gold futures hit a new all-time high today above $2,800, but here is the big surprise…
SURPRISE: 2025 Will Be The Year Of Silver
January 30 (King World News) – Graddhy out of Sweden: Posted on gold and GDX breaking out.
Next is gold $3000–$3300 and silver $40–$45.
First though probably a daily cycle decline, either from here, or from a new gold all-time high that is a temporary false breakout.
A stock market crash is not in the charts as of right now. That is what we know and need to go by. As long as all is good, all is good. And, a stock market blow-off is now probably more likely than a crash at this point. An early weekly cycle low looks to be in for general equities.
The metals manipulation more or less ended when gold and silver had their huge breakouts a year ago (which posted on here in real-time). I do not think that would have happened if they were still in control.
Precious metals do not seem to care very much about the US dollar’s latest up-move. And that is what matters. The recent declines in metals are just very normal shallow weekly cycle declines for a bull. Already stated that I think US dollar has topped.
If we instead look at what is actually happening right now, the signs are many that silver also had a weekly cycle low. That means the latest low is a larger low and that it will hold. Noted for the last 11 weeks that $30.00 level and triple support there will most probably hold, and it is.
Stated previous weekly cycle target was $35, and we got $35.07. This weekly cycle’s target level should be around $42.
Since 2019, I have said silver will go to at least $370 in this bull.
And, been saying for a while that 2025 should be a very good year for silver.
Silver Is Set To Explode Above $50 All-Time High
Careful Not To Focus On COT
I get many questions lately about the COT for the metals looking bearish (COT = Commitment Of Traders Report). My take is that the COT does not have the best track record at major turns.
During the last few decades, I have systematically tried all meaningful technical tools out there, and I have only kept around 10% of everything I have ever tried.
And, to be honest, my experience with the COT tool is that it is fairly useless at major turns, which is where it is supposed to be the most useful. For example, at the gold 8 year cycle lows back in 2008 & 2016, they were still overwhelmingly short a long time after the two major lows were confirmed with other tools. So if one followed COT back then, you missed each bear market low by a mile.
Also, following the COT is following someone else’s opinion on where price is going. And since sentiment needs to be at the wrong extreme at major turns for the turn to happen, most have to be wrong at major turns. So following someone else’s opinion as a technical analyst does not make any sense whatsoever, if you know what you are doing that is, especially since the COT tool has not proven itself enough, as I see it.
The result of all this, and more, is in the chart below.
Gold Just Had Another Upside Breakout…Hitting New All-Time High Today
Decades in management consulting taught me to focus on what really matters, plus real evidence, improvement and facts.
Gold Attacking All-Time High!
To listen to Alasdair Macleod discuss gold attacking all-time highs as well as what to expect from silver and mining stocks CLICK HERE OR ON THE IMAGE BELOW.
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