Today weakness in the US dollar ignited gold, silver and miners, but this is the shocking thing about this rally.
Weak Dollar Sparks Gold, Silver & Miner Rally
September 29 (King World News) – The chart below shows the US Dollar Index weakening after surging to nearly 95 on the bear market countertrend rally (see chart below).
US Dollar Pullback Sparks Rally In Gold & Silver
The weaker US dollar has the gold market on the move today, breaking back above the key psychological level of $1,900 (see chart below).
US Dollar Pullback Propels Gold Rally Above $1,900
The weaker US dollar also has the price of silver rallying near the $25 level (see chart below).
And Silver Is Surging Toward $25
Billionaire and mining legend Ross Beaty, Chairman of Pan American Silver, just spoke about what he expects to see in the gold and silver markets and also shared one of his top stock picks in the mining sector CLICK HERE OR ON THE IMAGE BELOW TO HEAR BEATY’S INTERVIEW.
But even with the price of gold above $1,900 and silver near $25, the HUI Gold Mining Index is roughly a staggering 50% below the peak that was seen in 2011. This massive undervaluation will not last, but it is an important part of this leg of the secular bull market in gold climbing a “wall of worry” (see chart below).
SHOCKING PART ABOUT THIS RALLY:
HUI Gold Mining Index Remains 50% Below 2011 Peak
***To listen to the incredibly powerful audio interview with Danielle DiMartino Booth that is a must listen for anyone who wants to understand the big picture as she covers everything from the need for investors to aggressively buy the current dip in gold prices to the stock market hitting the biggest bubble level in history and much more. To listen to this incredibly powerful interview click here or on the image below.
Key Level For Gold, Consumer Confidence & Real Estate
***ALSO JUST RELEASED: This Is The Next Key Level For Gold, Plus Consumer Confidence, Monetary Policy And Real Estate CLICK HERE.
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