Are Precious Metals Finally Bottoming?

Are Precious Metals Finally Bottoming?

Early this year, Gold and Silver looked like they were positioned in an outrageously bullish set up (https://markonomics101.com/2018/07/15/inflection-point-part-2-financial-assets-give-way-to-hard-assets/), but until about 3 weeks ago, they had instead, taken a huge nose dive to near multi-year lows.

Recently, with the economic landscape having changed so much, the Precious Metals Sector is showing early signs of a bottom.  Relax, they are not “Ascending Wedges”, “Reverse Waves”, or the like.  The charts for the sector are all in a “Head and Shoulders” bottom pattern.

Only Silver (SLV) and Platinum (PPLT)  have failed to break out above their reverse “Head and Shoulders” bottoms,  but they appear ready to join the party.  The huge moves in Thursdays’s trading show that this new up-thrust has conviction.  The rally in other commodities lends support to the participation of Gold and Silver.  Platinum and the GDXJ are leading the way.  Finally, both Major Gold and Silver Miners (GDX) and Junior Gold and Silver Miners (GDXJ) are in sync.  The likelihood is that the bottom in precious metals have been FINALLY seen and thus these hedges against inflation present a tremendously cheap opportunity for entry, in helping to weather any coming storm.

These are just some of the options we will show you, to benefit from the opportunity of an Inflection Point.  Precious metals are the most liquid and should be the first place to shop for inflation hedges.  We continue to highly recommend Bill Murphy’s LeMetropolecafe (http://www.lemetropolecafe.com/) as the most comprehensive source of information.  He offers a two-week free trial, we subscribe, and for the price, there is no better Gold newsletter on the market.

Time for your due diligence to begin.  If you haven’t implemented the steps outlined in (https://markonomics101.com/2018/10/09/how-to-survive-prosper-and-thrive-in-the-coming-bear-market-part-1/), you will remain exposed to this market’s vicissitudes.

Once again, I want to mention that we are looking for guest writers.  Agree or disagree.  Just make your case with supportable facts and logic.  Any piece published will be seen by thousands and we will offer $100 to any piece chosen.  The only condition is that you join our mailing list below.

 

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Comments (2)

  1. Oct 13, 2018 at 12:45 pm

    One thing a reader can conclude from predictions on precious metal prices is that these are rarely correct. The charts only confirm inflections points and bottoms and tops after the fact. So many chartists sell their newsletters to gullible investors and they are rarely correct.

  2. Oct 14, 2018 at 1:39 pm

    Larry I can never dispute your frustration with too many stop signs. Predictions are rarely correct, period! One possible reason is the suppression activity which Bill Murphy has been fighting forever. However. IF GOLD (GLD) breaks above 130, it is a statistical favorite as a trade. I only advise people to hedge the dollar and you gotta admit, its done a great job. I know I’ve been wrong a million times so far but lets say all you did was buy some gold coins. You can be very sure that over a longer period, it will offset inflation. As to it being predicable, all I can predict with certainty is that government spending and taxes collected will continue to rise…..

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