We have reached our 23.6% retracement level, so we need to be on guard for the completion of wave -iv-, perhaps at the 3120.90 low, and the start of another rally in wave -v-, which should see gold move to all-time new highs again!
It's been a massive year for gold, and now silver and platinum are on the move too. Senior miners, gold and silver ETFs, energy, and other commodity plays are now solid leaders of the global investing pack!
Employing math is a thing of the past! Or to reprise what a seasoned investor said to us here back in April: “Nobody at Goldman [today] has ever experienced a down market.”
Central banks and Chinese investors are likely to continue reallocating capital into gold. American stock investors have massive room to buy. Gold’s usual autumn rally could prove the start of this bull’s next surge higher.
Gold tends to lead a new inflation cycle, sometimes by a country mile. Silver is catching on. The CRB index is poised, and TSX-V is trending. What’s missing from the picture?
When you look at gold for the week, with all that's going on, you're down 1.2 percent. You have a higher high and a lower low, that is not a bold move at this point in time.
