As we come to the end of 2023, the price of gold is now approaching a mega upside breakout. Plus a look at what is happening around the world.

The Time To Strike Is Now
December 28 (King World News) – Graddhy out of Sweden:  This ratio chart shows how historically undervalued commodities companies are vs the commodities index CRB.

Canadian Junior Exploration & Commodities Companies Are Grotesquely Undervalued vs CRB (Commodities Index). Already Beginning To Reverse…Headed Back To All-Time Highs

Explosive moves are coming. This commodities bull is a lifetime opportunity. 2024 onwards will be spectacular…

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Gold Approaching Mega Upside Breakout
Graddhy out of Sweden:  GOLD: The 14 year blue bullish falling wedge is close to breakout. Last time this ratio had a mega breakout, the secular gold bull started.

Mega Breakout Near As Gold Set To Radically Outperform The S&P500

This breakout will confirm the start of the 2nd leg.

Above 0.50 means new high after breakout => we are go.

Here Is What Is Happening Around The World
Art Cashin, Head of Floor Operations at UBS:  Overnight, global equity markets are showing strong streaks of individuality. Japan, with some weaker factory data, managed to close down the equivalent of about 170 points in the Dow. Conversely, Hong Kong and Mainland China closed up the equivalent of about 750 points in the Dow. India was up, but only by 170 Dow points. 

As we go to press, the markets in Europe cannot seem to make up their mind. The markets in London, Paris and Frankfurt are all showing fractional gains with the emphasis on the word fractional. So, I think, they are waiting to see how their cousins in New York gather things up and react. 

The U.S. economic calendar is modest and befits the ongoing holiday season. Pre-opening, we will get things like International Trade Data, Initial Jobless Claims, Retail Inventories and, at the same time, Wholesale Inventories. At midmorning, we get Pending Home Sales and Natural Gas Inventories and Oil Inventories, bunched together because of the holiday. At 1:00 p.m., we get a Seven Year Auction and then, after the close, everyone will look to the Fed’s Balance Sheet to see if quantitative tightening is continuing at pace. 

So, we will have to see if the bulls can continue the Santa Claus rally or, if they are going to take a day off to consolidate, which appears be the case. In pre- opening futures, the Dow is looking somewhat softer, while the Nasdaq looks a little bit better. 

Action around the Red Sea continues at pace with new threats and counterthreats. So, you definitely want to stay close to the newsticker. Keep your seatbelt fastened. Stay nimble and alert and stay safe in these very difficult times. Let’s see if we can leave another cookie out for Santa and keep him in a somewhat generous mood.

Top Trends For 2024
“THIS IS THE YEAR FOR GOLD!”
To listen to the top trends forecaster in the world discuss his top trends for 2024 and why this is going to be the year for gold CLICK HERE OR ON THE IMAGE BELOW.

JUST RELEASED! Big Money Entering The Gold Space!
To listen to Alasdair Macleod discuss big money entering the gold space as well as what to expect from gold, silver, and the mining stocks in 2024 CLICK HERE OR ON THE IMAGE BELOW.

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