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.
Words are hard to find when reviewing Gold’s monthly bars since 2010. Unlike the S&P 500, which is far overvalued despite weak earnings, Gold still trades at a discount to Dollar debasement. Got Gold?
Despite already being huge, this gold bull still has legs. As gold resumes powering higher on balance, gold stocks will continue to outperform catching up with it.
Notably, even the Fed has confirmed that U.S. banks are extending impaired CRE mortgages to avoid recognizing losses, leading to credit misallocation and a buildup of financial fragility.
