For investors around the world who are worried about the recent trading action in the gold and silver markets, take a look at this.
October 7 (King World News) – It is always a good idea to take a step back and look at the big picture when you are in a pause in a major bull market. Below is a weekly chart of gold’s rise for the past 18 months. Gold remains in a solid uptrend and has simply been digesting the massive gains seen in 2020 before the next move higher.
The Gold Market Has Been Simply Digesting
Gains But Remains In A Solid Uptrend
Below is a monthly chart showing silver’s surge to $50 in 2011 as well as the recent bullish breakout. Like gold, silver is also digesting 2020’s gains and will be poised for liftoff when the consolidation pattern completes.
2020 Marked A Major Upside Breakout That Will Eventually Take The Price Of Silver Way Beyond The All-Time High Of $50 Set In 2011.
Like Gold, Silver Has Been Simply Digesting Gains Ahead The Next Bullish Surge
The XAU Mining Stock Index has also been consolidating 2020’s gains. They key for the mining stocks is that they are cash flowing at all-time record levels and so the fundamentals are extremely strong, despite the sideways chop/consolidation.
XAU Mining Stock Index Also Consolidating Gains.
Although The XAU Is Below The 50-Day Moving Average, Any Weakness Is A Buying Opportunity As We Have A Long Way To Go In This Secular Bull Market
Here Is A Look At The XAU Weekly Chart Showing The Consolidation Pattern And The Rising Moving Average
Finally, A Big Picture Monthly XAU Chart. You Can See The 10-Year Run From 2001-2011. This Leg Will Also Be Extremely Strong And Eventually Culminate In A Mania
Always A Good Idea
The bottom line is it is always good for investors to take a step back and look at the big picture. That allows investors to handle the volatility that occurs in a major bull market. The pullbacks will simply be seen as noise on the charts as the bull market trades much, much higher in the coming years and eventually culminates in a mania.
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Everything Bubble Shocker, Gold, Silver And US Dollar
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***To listen to the incredibly powerful audio interview with Nomi Prins discussing everything from gold and major markets to the similarities between what we are seeing today vs the 1970s click here or on the image below.
***To listen to this timely interview from the top trends forecaster in the world click here or on the image below.
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