With the world beginning to take notice of the rally in gold, this may send the price of gold above $1,900.
A Very Favorable Recipe For Gold
July 18 (King World News) – Top Citi analyst Tom Fitzpatrick: “In a similar manner to the breakout in Gold in 2007 and 2001, when the Fed was turning an important corner in interest rates, we are seeing a breakout again this time…
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This dynamic, along with price action in fixed income, adds to the indications that we are not simply seeing an ‘adjustment’ at the Fed, but rather embarking on a significant turn in monetary policy. The combination of the inverted yield curve, increased downside potential on yields, a bearish USD view, and renewed concern on Equity markets provides a very favorable recipe for Gold.
These charts take a broad look at Gold which seems set to outperform almost every other major market including Oil, Industrial Metals, Equities and the JPY, even though USDJPY looks like it will make it to 100 this year.
As we have emphasized, there is also a warning sign in the charts below that that an equity market peak in the US could soon be seen.
Gold May Catapult Above $1,900
Over the past month we have seen a bullish break through the $1,360 area which is also where a longer term inverted head and shoulders neckline came in. The bullish break suggests a rally to $1,522-$1,532 over the weeks ahead while the inverted head and shoulders pattern gives a target of almost $1,700. Good resistance above there is at $1,796-$1,802 followed by the all time high of $1,921.
Gold Breakout Projects $1,700 – $1,921
Gold About To Hit All-Time High In Japanese Yen
Gold/Oil Ratio May Be Headed Back To All-Time High, Heavily Favoring Gold Over Oil
Gold Breaking Out vs Stocks (S&P 500)
MAJOR REVERSAL COMING: Stocks Will Crater And Gold Will Skyrocket
Gold Liftoff
READ THIS NEXT! GOLD LIFTOFF: Portions Of Ray Dalio’s Fantastic Piece That Ignited The Gold Market Today CLICK HERE TO READ
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King World News note: There was a short delay in the release of the latest audio interview with the man who helps to oversee more than $200 billion and you can now listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
More articles to follow…
In the meantime, other important releases…
Major Silver Breakout Unfolding…Similar Breakouts Saw Silver Soar A Staggering 66% To 975% CLICK HERE TO READ
CONTRARIAN ALERT: Only 1% Of People Think This Bullish Gold Catalyst Will Trigger CLICK HERE TO READ
Is The Price Of Silver About To Skyrocket? Plus “All Hell Is Going To Break Loose” CLICK HERE TO READ
Silver Is Finally Acting Better, Plus Breaking Down Gold’s Breakout CLICK HERE TO READ
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