Positions as of Tuesday, December 31, 2024
The bank predicted a triple crown, saying gold is once again the top commodity to buy.
So, before you begin to give any weight to the fact that Wall Street analysts are all very bullish for 2025...I think you should consider how often they are wrong.
Trading Recommendation: Go long gold. Use puts as stops.
Despite the massive flow into U.S. dollars and the U.S. stock market, gold did exceptionally well.
The pattern turned bullish this week with the market having higher highs, higher lows - you had an outside week up.
With 3262 potentially in the year’s balance, can you imagine not being with Gold?
So you have the bias up since the market's over the 18-day average. The support becomes, now, what the resistance was...$2663 to $2658 is the support.
Gold, silver, and mining stock investors should not focus on the failing fiat dollar’s supposedly great action versus various other failing fiat.
The pattern on the swing line is higher high and lower low. The market is fighting at the $2648 level.
