The price of gold is surging $30 and silver is up $1, but the best is yet to come for gold and silver.
Gold
July 29 (King World News) – Graddhy out of Sweden: Today gold is gapping up from blue line+$1,800 backtest.
As suspected, indicator was resetting without price dropping, and has now crossed bullish. Good odds we have bottomed (in gold) and had a weekly cycle low on June 29th, but, it needs to clear 200 day moving average, 50 day moving average and $1,850 to be sure…
New interview from legend Doug Casey discussing gold, silver and
global chaos! To listen click here or on the image below.
US Dollar Tumbles, Gold & Silver Surge
Peter Boockvar: A consequence of Jay Powell’s choice of throwing more monetary gas on the inflation fire even though that slows REAL GDP and thus gets us further away from the maximum employment he’s decided to prioritize, the US dollar index is trading at the lowest level in a month and gold and silver are perking up.
US Dollar Tumbles To Lowest Level In A Month
The Best Is Yet To Come For Gold & Silver
I remain a bull on gold and silver, however frustrating and maddening it has been to be long. I still believe that we’re in a bull market for precious metals and the best is yet to come as it’s clear that the Fed, ECB and BoJ will maintain deeply negative real rates for years to come. I’m no certified technician but that chart in gold looks like a really nice reverse head and shoulders pattern.
Bullish Reverse Head & Shoulders Pattern On Gold!
I also expect a re-steepening of the US yield curve on the still uber dovishness of the FOMC that the market will instead readjust for in light of the current inflation story. Quietly the 3 yr inflation breakeven at 2.78% is just 5 bps from a 15 yr high and the 5 yr inflation breakeven is at the highest level in 2 months.
Negative Real Yields Fuel Gold Rally
The Daily Shot: US real rates continue to hit new lows (1st chart) as investors pour money into inflation-linked Treasuries (2nd chart).
GOLD BULL CATALYST:
US 10 Negative Year Real Yields Hit New Low!
Meanwhile, Treasury Inflation Protected Bonds At New Highs
***ALSO JUST RELEASED: CEOs TO WORKERS: Back To The Office – NOW CLICK HERE.
***ALSO JUST RELEASED: Here Is What’s Next And Why All Roads Lead To Gold CLICK HERE.
***To listen to James Turk discuss what will end the long consolidation and break the metals and mining stocks out on the upside CLICK HERE OR ON THE IMAGE BELOW.
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