Gold has traded long enough over $2000 to justify as buy on crash strategy. 2023 will be first of the many more years in which spot gold will close over $2000.
Gold is headed for a weekly gain in a market dominated by the Federal Reserve’s strongest indications yet that it will pivot to easing monetary policy next year.
Gold and precious metals have been languishing, but there are positive signs that they are perking up. Could gold and oil's day in the sun soon be upon us? The signs are good.
Historically, silver tends to do well in the later stage of a gold rally and usually hits a new high. That means silver will likely test the 50-dollar mark and is likely to exceed it.
Pros and rubes alike are throwing money into an S&P 500 index that is so beyond overvalued. Our sense remains “Look Ma! No Money!” shall be the ultimate crash driver.
We are looking at copper prices to approach or exceed $6 per pound in about two years. In the near term, with a more micro view, we are expecting further softness in copper prices.
Later in 2024, there will be an opportunity to trade bearish with conviction and to hold precious metals with conviction as well. It’s a post-bubble thing.
