Expert Says Gold Stocks Are Looking Good
Source: Barry Dawes 06/28/2024
Barry Dawes of Martin Place Securities shares his thoughts on the current state of the gold market to explain where he believes it is headed. He also takes a look at silver, platinum, and palladium.
Gold holding above US$2300, wedge action in play, parabola still in place.
White metals are looking good. Silver is in a massive bull market. Platinum is turning up. Palladium is recovering. Currencies are very weak.
Gold
- Technicals holding gold >US$2300
- Parabola still working
- Gold in Yen and Euros technically strong
Gold Stocks
- Wedge break out
- Gold stocks vs Gold continues to improve
ASX Gold Index
- Holding in symmetry box
- EOFY bargains on sale
White Metals
- Silver
- Platinum
- Palladium
The resiliency of gold is very impressive. Trading tonight will be important for a weekly, monthly, and quarterly close will be important to watch. A strong close would be very good technically.
The US$ remains very firm as the Yen and Euro, in particular, continue to weaken and fall away.
Gold in those currencies is very close to all-time highs and looks strong technically. Gold stocks remain quite resilient as well. Gold stocks versus gold are performing very constructively and should be very strong in the December half of 2024.
The wedge is holding on for us here.
And likewise with the parabola.
This move by gold in Yen will soon produce another all-time high.
And the gold price in Euros has pulled back to that uptrend and is producing a very positive pennant that is pointing to new highs.
Gold Stocks
This wedge has broken to the upside and should produce another strong move very soon.
This is a very important breakout coming to us.
This index has had a breakout, a pushback from the 11-year downtrend, has back-tested, and now has produced a hammer.
Technically, it’s very constructive.
There appears to be a head and shoulders trend reversal pattern established here.
The longer-term trend, of course, is extremely positive.
ASX Gold Index
It seemed we had a little weakness on Wednesday, but I think the EOFY sales will certainly end today.
Just as with the North American gold stock indices, this XGD is capable of making a very strong and rapid move.
White Metals
All these white precious metals look very sound.
The breakout through US$30 is very important, and this market is on its way.
Palladium has been frustrating with a few false starts, but it is supporting on the downtrend and will be heading higher.
Platinum is very constructive indeed, and you should expect this price to double over the next few years.
Head the markets, not the commentators.
Sign up for our FREE newsletter at: www.streetwisereports.com/get-news
Important Disclosures:
-
Statements and opinions expressed are the opinions of the author and not of Streetwise Reports, Street Smart, or their officers. The author is wholly responsible for the accuracy of the statements. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Any disclosures from the author can be found below. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
- This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
For additional disclosures, please click here.
Source: https://www.streetwisereports.com/article/2024/06/28/expert-says-gold-stocks-are-looking-good.html
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Humic & Fulvic Liquid Trace Mineral Complex
HerbAnomic’s Humic and Fulvic Liquid Trace Mineral Complex is a revolutionary New Humic and Fulvic Acid Complex designed to support your body at the cellular level. Our product has been thoroughly tested by an ISO/IEC Certified Lab for toxins and Heavy metals as well as for trace mineral content. We KNOW we have NO lead, arsenic, mercury, aluminum etc. in our Formula. This Humic & Fulvic Liquid Trace Mineral complex has high trace levels of naturally occurring Humic and Fulvic Acids as well as high trace levels of Zinc, Iron, Magnesium, Molybdenum, Potassium and more. There is a wide range of up to 70 trace minerals which occur naturally in our Complex at varying levels. We Choose to list the 8 substances which occur in higher trace levels on our supplement panel. We don’t claim a high number of minerals as other Humic and Fulvic Supplements do and leave you to guess which elements you’ll be getting. Order Your Humic Fulvic for Your Family by Clicking on this Link , or the Banner Below.
Our Formula is an exceptional value compared to other Humic Fulvic Minerals because...
It’s OXYGENATED
It Always Tests at 9.5+ pH
Preservative and Chemical Free
Allergen Free
Comes From a Pure, Unpolluted, Organic Source
Is an Excellent Source for Trace Minerals
Is From Whole, Prehisoric Plant Based Origin Material With Ionic Minerals and Constituents
Highly Conductive/Full of Extra Electrons
Is a Full Spectrum Complex
Our Humic and Fulvic Liquid Trace Mineral Complex has Minerals, Amino Acids, Poly Electrolytes, Phytochemicals, Polyphenols, Bioflavonoids and Trace Vitamins included with the Humic and Fulvic Acid. Our Source material is high in these constituents, where other manufacturers use inferior materials.
Try Our Humic and Fulvic Liquid Trace Mineral Complex today. Order Yours Today by Following This Link.