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.

Harold

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4 thoughts on “Maybe Next Time?

  1. So riddle me this, why did Gold seem to be surprised that the FED raised interest rates ?

    NUGT started a slide as soon as it was announced. There was a near 100% expectation that the rate increase would happen.

    Maybe the strong signal that underrunning inflation would not deter the FED from future interest rate increases. That part did surprise me.

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  2. From Seeking Alpha article:

    Bloomberg Intelligence wrote earlier this week that if the trend of the current rate tightening cycle is sustained, gold should bottom within a few days of today’s FOMC meeting, if history is a guide.

    I think I read something like this somewhere else….

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