Tuesday, June 13, 6:05 pm EST. Was wading through all my emails, and saw this… I thought it was of interest, as it is actually stating what, I, myself, believe.
“Gold could begin its surge to new heights at any moment…
Ongoing worries around the globe helped to push the price of everyone’s favorite “safe haven” asset higher over the past month.
The uncertainty included a pair of terror attacks that rattled the United Kingdom over the past few weeks as the country prepared for its general elections.
We’ll need to keep our eyes on these situations in the coming months. In the short term, all these events helped to boost the returns of gold.
Last week, gold closed as high as $1,297 per ounce… its highest level since the week before U.S. voters elected Donald Trump as president last November. From May 9 through last Tuesday, the precious metal rallied 6.7%. It’s up about 10% overall this year.
Gold also flirted with the psychological barrier of $1,300 per ounce in mid-April, but there’s one key difference this time: As you can see below, it broke through a six-year downtrend.
The price of gold has pulled back about 2% from its high last week to $1,268 per ounce.
But if gold can finally punch through $1,300 per ounce for the first time since last November, it should be a great summer for investors who have put their money to work in precious metals.”
These kinds of things play to my sense of just what I think the charts are trying to say. The overall outlook appears to be bullish. We just need some catalyst to kick it off.
I’ll check the charts. If there’s anything to report from them, I will, otherwise… I’ll get back again tomorrow.