A rebalancing selloff is overdue. Gold is likely to power higher on balance through 2024’s winter rally. American stock investors finally chasing gold should fuel big gains.
While gold has surged as rates have rallied, a breakdown from this huge H&S top for rates could usher in frenzied Western money manager buying, sending gold straight to $3000-$3300.
Creativity abounds in the headlines. Try this CNBS (truth be told) from Friday: “In this time of uncertainty, markets seem to rely on logic.” Folks, you cannot make this stuff up, (except they did.)
Gold stocks just achieved a major secular breakout to four-plus-year highs. A little more rallying will lift GDX to its best levels in nearly a dozen years.
