|
1.With each passing day, both the technical price action
and the news flow are getting more positive for gold.
2.Please click here now. Double-click to
enlarge this daily bars gold chart.
3.Another great week for the world's ultimate asset is
clearly underway.A beautiful technical uptrend is now in play.
4.Gold has also surged through resistance at $1220 and is
making a beeline towards my $1250 target zone.
5.Please click here now. Double-click to enlarge.The
US dollar has broken down from a substantial head and shoulders top formation
against the Swiss franc.
6.A small rally back towards the neckline of the pattern
is likely, but the overall technical picture for the dollar is very negative.
7.Please click here now.Double-click to enlarge
this key dollar versus yen chart.
8.Both the yen and the franc are safe haven fiat
currencies, and the "risk-on" dollar's price action against
both of them is truly horrific.That's great news for gold, which is the
ultimate safe haven.
9.Please click here now. Will President Trump
order Janet Yellen to engage in outright money printing to devalue the
dollar?
10.I think he'll do it, and here's why: America's
demographics are drastically different from the demographics that were in
place when Ronald Reagan got elected with a similar "Make America
Great" mantra.
11.America is now an ageing society, and both the
citizens and the government are maniacally obsessed with debt.
12.Also, the business up cycle is nearing an end, and
while immigration changes make most citizens happy, that's not going to
re-create a 1950's society with a 15% GDP growth rate.
13.Sadly, Trump's only practical tools to reduce the
huge debt burden on the backs of both citizens and government are money
printing and gold revaluation.
14.Please click here now.FOREX reserves in China
may be about to become a very powerful gold price driver.
15.To combat the disintegration of its FOREX reserves,
China may have to float the yuan, or engage in significant money printing.
16.Please click here now. Double-click to
enlarge this spectacular daily bars GDX chart.
17.Gold stocks are roaring higher because of Trump's
dollar bashing and even more because of the end of global deflation.
18.GDX itself is sporting a beautiful
momentum-oriented crossover buy signal on my 14,7,7 Stochastics oscillator.
19.I suggested that gold stock enthusiasts should be on
the lookout for that signal, and now it is in play.
20.GDX should run to $26, and perhaps to $27.50, as gold
marches from $1220 towards $1250.
21.For even better technical news about most gold stocks,
please click here now.Double-click to
enlarge.Regardless of whether GDX makes it to $27.50 or not on this rally,
the coming pullback is simply going to create a beautiful right shoulder of a
large inverse head and shoulders bottom pattern!
22.The target of the pattern is the $32 area, and I think
GDX has a very good chance of surpassing that high.
23.I suggested that 2017 would be all that gold stock
investors could ever ask for, and that is certainly playing out in textbook
fashion.Rallies are strong.Pullbacks are orderly and modest.
24.US dollar bulls will likely be hit hard by Donald
Trump's dollar devaluation team.Governments around the world may be poised to
enter not just a fiat devaluation competition, but a money printing
competition.There are no winners in such a competition, except for gold,
silver, and associated stocks!
Thanks!
Cheers
St
Stewart Thomson
Graceland Updates
Note: We are privacy oriented.We accept cheques, credit
card, and if needed, PayPal.
Written between 4am-7am.5-6 issues per week.Emailed at
aprox 9am daily.
https://www.gracelandupdates.com
https://gracelandjuniors.com
www.guswinger.com
Email:
stewart@gracelandupdates.com
stewart@gracelandjuniors.com
stewart@guswinger.com
Stewart Thomson is a retired Merrill Lynch broker.
Stewart writes the Graceland Updates daily between 4am-7am. They are sent out
around 8am-9am. The newsletter is attractively priced and the format is a
unique numbered point form.Giving clarity of each point and saving valuable
reading time.
Risks, Disclaimers, Legal
Stewart Thomson is no longer an investment advisor. The
information provided by Stewart and Graceland Updates is for general
information purposes only. Before taking any action on any investment, it is
imperative that you consult with multiple properly licensed, experienced and
qualified investment advisors and get numerous opinions before taking any
action. Your minimum risk on any investment in the world is: 100% loss of all
your money. You may be taking or preparing to take leveraged positions in
investments and not know it, exposing yourself to unlimited risks. This is
highly concerning if you are an investor in any derivatives products. There
is an approx $700 trillion OTC Derivatives Iceberg with a tiny portion
written off officially. The bottom line:
Are You Prepared?
|
|
