Today Michael Oliver, the man who is well known for his deadly accurate forecasts on stocks, bonds, and major markets, communicated to King World News why gold and silver prices are now set to explode higher.

Gold and Silver
December 19 (King World News) – Michael Oliver, Founder of MSA Research:  Recent reports have been replete with momentum charts showing positive trigger levels that have been overcome— ever since the October lows. Well below current price levels. 

After the in-the-dark price explosion by gold on the night of Sunday, December 3rd, there was no doubt a virtual absence/ vacuum of buy orders below—after tens of thousands had just been filled between $2100 and $2150 within a half hour! 

We feel sorry for those late gold buyers. What followed no doubt hurt them. 

Here we turn to price charts. We actually have some respect for price analysis if the action by is echoed by or has been pre- validated by momentum. And here’s what we see via weekly price action of gold and silver starting back at that brief bear trap low in March 2020. 

Gold Exploded
Gold exploded over 30% into summer 2020 and then produced a multi-year wide range of mostly horizontal action, with of 
course one brief cleansing selloff (a bear trap again, as momentum informed us) in September and October 2022. That was rapidly followed by a weekly closing take-out of prior highs (though intramonth action in early 2023 did not overcome the intramonth price highs of 2020 and 2022). After the arm- wrestling corrective decline from early this year to October (channel), momentum told us to buy in the $1860s and at $1929. A price surge then followed that finally took out all intramonth gold price highs going back to 2020. There was a very sharp pullback two weeks ago and then firming last week. Note where that’s occurring on price. 

Silver More Than Doubled
Silver more than doubled in that mid-2020 surge and then developed broad parallel downtrending action for almost three years, breaking out over that multi-year channel earlier this year. It too then entered an arm-wrestling gradual pullback. The upturn was clear in November as a wedging pattern by price was broken out above. Note where the close was two weeks ago after the pullback from repeated bumps up to the $26 area. Last week’s upturn was from the top of that wedging action. 

So while momentum factors have already spoken, it’s fine to now focus more on price action, even though price is lagged to momentum. Obviously getting gold back up to $2100 will indicate ongoing upside (and probably surprise most investors who remain negative on gold). And for silver, clearing that horizontal selling at the $26 level will also wake up silver price chart watchers. To read the rest of this incredibly important and timely report you must be a subscriber. To receive the special KWN discount to subscribe to Michael Oliver’s internationally acclaimed MSA Annual Research which is used by serious investors and professionals all over the world CLICK HERE.

Also of importance…

Ultra High-Grade Discovery Near Fosterville!!
Eric King: “You’ve been very excited about these projects you have in Victoria, near the Fosterville Mine, and you also picked up that asset adjacent to K92’s mine. So you have this company positioned right next door to the historic Fosterville Mine in Victoria and K92’s mine in Papua New Guinea. Everybody is excited about this drilling in Papua new Guinea that is going to unfold, but Rex Motton sinks a hole, out of the blue, in Victoria, next door to Fosterville, and comes up with this ultra high-grade discovery. How soon can you sink additional drill holes into this new discovery? Also, I spoke with K92 CEO, John Lewins, who is also a Director of Great Pacific Gold, about this ultra high-grade discovery, and he is optimistic that more high-grade intercepts will be hit with additional drilling.”

Bryan Slusarchuk:  “Well, it’s an amazing discovery that Rex and his team made, Eric. As you noted, we’ve been busy over the last few months getting ready for 2024 Q1 drilling in Papua New Guinea. We have amazing projects there, a 2,100 square kilometer land package, including 130 square kilometers contiguous with (bordering) K92’s mine. So we are very excited to get started there.

In the meantime, we have had these Victorian assets for some time and have been advancing them methodically on the ground. Our COO, one of the founders of the company, Rex Motton, has spent decades in Victoria, and he knows the geology of Victoria as well or better than anybody. And, Rex, based on all of this work that had been done, had a strong conviction that we had to test a project called the Comet Prospect at a precise juncture.

Based on his knowledge of that world famous Fosterville deposit, he believed that X marked that spot for the precise point that if we were going to find another Fosterville, that was where it would be located. So he sinks this drill, the final one of 2023, and on that hole it intersected an incredibly high-grade cut of gold mineralization. It looks remarkably similar to what the Fosterville discoveries looked like several years ago. So we could not be more excited. This is one of the better discovery holes that has been drilled anywhere in the world this year.”

Almost Identical To World Famous Fosterville Discovery
Eric King:  “I’m looking at this old press release from the Fosterville discovery, and it’s seven meters of 159 grams per tonne of gold. You guys just hit 5 meters of 166 grams per tonne of gold, a little bit higher than Fosterville’s drill hole. So when you say there is a similarity, it’s almost identical.”

Bryan Slusarchuk:  “There are so many similarities to this discovery both geologically and structurally. Rex Motton pounded the table that this was the hole that we needed to drill at Comet because it mirrored the world famous Fosterville discovery. The geology is remarkably similar to the Fosterville Mine. And he drilled a hole right into that X marks the spot, and he made an amazing discovery. The ultra-high grades will jump out at people, but for people that know the geology of that region, what will also jump out is where structurally this discovery was made, and the big implications of that. And, Eric, because we are extremely well funded, we look forward to unleashing the drills in 2024.” Great Pacific Gold, symbol GPAC in Canada and FSXLF in the US.

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To listen to Alasdair Macleod discuss the wild trading in the gold and silver markets as well as the US dollar and mining stocks CLICK HERE OR ON THE IMAGE BELOW.

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