iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
19,347 Blog Posts

Gold is Angling Here to Break Out

I’ll be brief.

Gold is in a six year Fag-Box. That’s a fact.

Since October of 2018, it has been trending higher — pausing — then trending higher again. We’ve been trading sideways for a few weeks now and I’m venturing to think we’re fixing to leg higher and get into the 1,325 to 1,340 region soon.

There’s some steam behind this move and no one is pricing in the gold miners for a bull market in gold.

Look at the price to sales valuation for gold in comparison to Basic Materials and how the premium has shrunk considerably. A bull market in gold would look like 2009-2010 at 6x sales.

Top gold picks: NUGT,  SAND and SBGL.

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6 comments

  1. irma vep

    Not high enough. Can’t we start some foreign currency crises. C’mon, it must be easy to do.

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  2. edge

    The gold bugs have to sense calamity and the traders have to sense opportunity in order for a run on gold to materialize. I’m long miners.
    This may be front-running, but I like the set up.

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  3. ammy hour

    Really like OR setup

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  4. juice

    Top gold piks WDOFF SPVEF
    Top silver piks FSM PAAS

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  5. numbersgame

    Nice box, looks valid to me.

    Breaking news from Trump’s news conference
    1) National Ermergency formally declared, but it seems evident that Trump doesn’t care if the SC eventually strikes it down (“I fought and the liberal courts stopped me”)
    2) Reporter: “Do you think China has done enough to stop the new tariffs form taking effect?”
    Trump: “Well, you are talking to the wrong person because I happen to like tarifs.”

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  6. me_xman

    Gold breaking out means MARKET CONTINUE TO SHOOT STRAIGHT UP !!!

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