Thursday 23 November 2017 ShareProphets: The one stop source for breaking news, expert analysis, and podcasts on fast-moving AIM and LSE listed shares


Gold To Test 2011 Highs, Look for Autumn Breakout

By Tom Winnifrith | Wednesday 13 September 2017


 


In the latest podcast from Palisade Capital, gold guru David Skarica discusses the volatility in the market and the reasons for a coming decline. A fight over the budget, tax cuts, or the debt ceiling could create further problems. The technical foundations of the market have been crumbling in recent months. Gold is doing well although a bigger rally has not happened since the general market has held up.

Gold stocks performed well in 2015/2016 due to the markets falling but have lagged in 2017. Investors are less inclined to put funds in gold and precious metal stocks when the markets are performing well. In 2003 gold really took off when the Fed began to cut rates so we are looking for that trigger event again.

For gold, there is resistance at 1350-1370 which needs to be broken however this gives you time to average in. Any fall in the market will be met with further liquidity in PM’s. We could have a very good gold market this spring. We could be back at 2011 highs surprisingly quickly if it breaks out this autumn.


Filed under:



This area of the ShareProphets.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ShareProphets.com. ShareProphets.com does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ShareProphets.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ShareProphets.com and is not intended to be relied upon by users in making (or refraining from making) any investment decisions.


Comments

Comments are turned off for this article.




Site by Everywhen