The gold market looks ready to shine.
Supply Chain Disaster
October 14 (King World News) – Egon von Greyerz: “This foreseeable inflation and supply chain disaster is now conveniently blamed on a current pandemic rather than a grotesque history of equally grotesque mismanagement by policy makers who have confused debt with prosperity and double-speak with accountability.”
Gavekal: “We are seeing growing disillusionment with policymakers in Western democracies, globalization giving way as the world breaks up into three separate economic zones and the US-China relationship breaking down. In the West, debt is skyrocketing, funded by unprecedented monetary policies. Uncertainty is rising about whether the US dollar can remain the anchor of the world’s financial architecture…
With surface samples as high as a staggering 300,000
grams of silver, this company is looking to make
one of the largest silver discoveries in history!
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As the Sun Rises: Gold looks ready to shine
Top Citi analyst Tom Fitzpatrick: With increasing concerns around stagflation, Gold enjoyed a strong rally all the way to a good resistance range at $1796-$1799, which consists of the 200 day MA and a falling trend line resistance, while also completing a small inverted head and shoulders formation with the neckline currently trading at $1779.
The small inverted head and shoulders formation suggests potential gains towards a quadruple resistance range at $1830-$1834 (Jul 2021 high, Sep 2021 high, major 61.8% Fibonacci level, neckline of a potential bigger inverted head and shoulders formation,) and a daily close above this range would trigger an accelerated move above a descending triangle top at $1846 given that the range includes the pivot point of the 76.4% Fibonacci support at $1724 that held in late Sep 2021 and also a neckline of a bigger inverted head and shoulder formation that targets $1980-.
More importantly, we note the striking similarity between the recent price action and the price action of late 2011 to mid-2012. Back then, the precious metal engaged in a triangular consolidation pattern for almost a year, and we saw an impulsive up move taking place as the yellow metal broke above a falling triangle top. The rally continued for around six weeks, and it eventually turned lower again as it failed to extend the gains above the corrective high from Nov 2011.
Hence, if gold were to continue mirroring the 2012 price action, we would expect the falling triangle top at $1846 to ultimately give away for renewed gains towards the May 2021 high at $1916.
Also of importance…
Tier One Finds More High-Grade Silver
Tier One Silver Inc. has received high-grade channel sampling results from the recently identified Cambaya target at the Curibaya project in southern Peru. The results from the first 20 channel samples taken from Cambaya have defined an area one kilometre by 600 metres with highlights of 20 m of 293.8 grams per tonne silver equivalent, 11 m of 348.2 g/t AgEq, nine m of 438.8 g/t AgEq, two m of 1,852.8 g/t AgEq and two m of 1,111.9 g/t AgEq (true width of channel samples unknown). Channel samples were oriented perpendicular to veins and structures, when possible, as mapped in the field.
Peter Dembicki, president, chief executive officer and director, said: “The targeting at Curibaya continues to improve as we expand the high-grade silver-gold footprint. Our new Cambaya target, approximately one kilometre northeast of our current drilling, has advanced considerably with these channel sample results, which follow notably high-grade rock samples.
We are currently drilling beneath the previously reported high-grade channel samples from the Curibaya project within our main target area, and are looking forward to pending drill hole assay results in addition to over 30 pending channel samples from both the Cambaya target at Curibaya, as well as from our Hurricane silver project.” Tier One Silver, symbol TSLV in Canada and TSLVF in the US.
***ALSO JUST RELEASED: James Turk: Move In Gold & Silver Is Long Overdue – This Breakout Level For Gold Will Trigger Move To New All-Time High CLICK HERE.
***ALSO JUST RELEASED: Massive Volume On Gold’s Upside Breakout And Miners Surge 4%, But Look At This Silver Surprise CLICK HERE.
***To listen to why the gold and silver bull markets are about to reassert themselves as well as why you should expect to continue to see massive inflation in the coming years CLICK HERE OR ON THE IMAGE BELOW.
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