With China doing massive money printing and stimulus, our Chinese stock market positions are soaring, and this is great news for gold.
Positions as of Tuesday, October 1, 2024
Gold has weak October seasonals. Gold’s healthy selloff will prove an excellent opportunity to add great gold stocks cheaper.
In the gold, remember I told you we're moving into what we call a wedge or triangle is a better word.
Any direct involvement of conflict with Iran by USA should result in spot gold nearing $3000 or even breaking past $3000.
If the market ended right now for the week, this would be an all-time high close.
Investors who have no gold should generally buy modest amounts on 5% sales that end with the price roughly at modest support zones on the chart.
Now, when we take a look at the market, it's amazing today. Even with the attack, you couldn't get through the highs.
Gold’s price should rise dramatically vs. bubble assets in the coming years if a “post-bubble” macro develops after the risk portrayed in the first chart above plays out.
The room in the market is you've got higher lows, higher highs on the swing line.
