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Going, Going, Gone (Up)!

Commentaries & Views

The articles we wrote Nov 1/18, Dec 4/18, and especially Jan 25/19 (archived here and at our website), are turning out to be prescient.  In that same spirit we present you with ‘Going, going, gone (up)’.

Charts are courtesy Stockcharts.com unless indicated.

Featured is the daily gold chart.  Price shows a series of ‘steps’ where a breakout occurs from beneath resistance.  The blue arrow points to the latest ‘step’.  The supporting indicators are positive, including the important Accumulation/Distribution line.  The moving averages (50DMA and 200DMA), are in positive alignment.

Featured is GDX the gold miners ETF.  The trend has been rising since September and the speed is picking up, as indicated by the green arrows. The target for the breakout from the flag pattern is 24.50. 

Featured is the gold price in foreign currencies.  The trend has been rising since September and the supporting indicators are positive.  The Moving Averages have completed a ‘bull cross’ (green square), and are now in positive alignment and rising.  All of this is bullish.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.