Gold Stock is Set To Break Records
Gold looks good and when I say that, I don’t just mean a little good… I mean it looks strong as an ox and its next breakout could take it over $2,000/ounce and it can happen soon!
As you can see, the tight triangle formation indicates a $200 initial breakout potential with a full $500 full-strike length, which would bring gold’s price to over $2,300/ounce.
All I can say is that I hope you’ve made your flight arrangements, packed a suitcase and are ready for lift-off.
Today and tomorrow, the focus will be on the FED; what it plans on doing with rate hikes and balance sheet reductions and I don’t see how it can say anything that will significantly change the picture for gold.
It’s abundantly clear that the artificial boost to the economy, which the government and the central banks supplied in 2020, is gone.
SPDR Gold Shares (GLD), the largest bullion-backed exchange-traded fund, recorded its biggest net inflow in dollar terms since listing in 2004, worth $1.63 billion.
The commodity sector is so dang cheap compared to historical averages.
The valuation going into 2022 is really attractive.
If Q1 is hard for stocks because the FED is tightening, we could see a repeat of 2016 in 2022 with the stock market down and gold exploding up!
This is the reason we are thrilled to profile our NO.1 opportunity in the gold sector.
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