The gold miners’ streak of colossal earnings growth and undervaluations support much-higher stock prices. Gold stocks’ overall upside leverage still remains very low compared to precedent.
Gold just broke out from the substantial congestion zone that began forming about four months ago. The big question for gold bugs around the world is obviously: Is the breakout real?
For the first time since 1996, foreign central banks now hold a larger share of their international reserves in gold than in U.S. Treasuries, a notable shift in the financial landscape.
We still have other potential alternates for the internal wave structure of wave -iv-, and for now, we will not list them all here, but they point to gold moving sharply higher very soon.
This past week, gold made a record high weekly close but remains just under its all-time high of $3,500. Our expectation is that this level could soon fall.
You're still in something of a resistance area. Look at all these spikes to where you're at right now: higher lows, higher highs—bullish. Momentum-wise, pushing up, but overbought.
