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Gold buy-side HSR: $1033, $887.
Gold sell-side HSR: $1320, $1340.
HUI buy-side HSR: 155.Sell-side HSR: 250, 360.
Dow buy-side: 14,200.Sell: None.
Silver: buy-side: $15.20.Sell-side: $18.17, $22
SPDR FUND (GLD-NYSE) Tonnage: 739
COMEX Gold Option Expiry Day: May 26
Next FOMC Meet: Apr 28 -29
GU UPDATE
1.While the benchmark GDX and GDXJ ETFs are struggling to
stage clean upside breakouts, many individual gold stocks are staging dramatic
rallies.
2.On that note, please click here now. That's the daily chart
for one of the world's top ten gold producers, Newcrest.
3.The stock has been rallying aggressively.A breakout
from a bullish inverse head & shoulders continuation pattern appears to
be in play.Newcrest may be about to begin another major rally!
4.Please click here now. That's the daily chart
for Newmont, another top gold producer.
5.While gold stock enthusiasts may want to see Newmont
blast to new highs immediately, I think it's more likely to form a bullish
consolidation pattern, much like Newcrest did, before taking out the highs in
the $26.67 area.
6.Please click here now. That's the GDX daily
chart.Note the black downtrend line in play.As more individual stocks begin
to act like Newmont and Newcrest, I expect GDX to rally above that key trend
line, and attract some nice hedge fund buying.
7.GDXJ has already broken above its downtrend line, but
the most likely scenario is for a slow but steady upside grind.Please click here now. That's the GDXJ daily
chart.With the emergence of the love trade (gold jewellery) as the dominant
gold price driver, gold is gaining more respect as an asset, and it is
trading with much less volatility.
8.That's the good news.The bad news is that gains
will be muted, until Chinese and Indian demand is universally recognized
as substantially exceeding mine and scrap supply.
9.Still, fear trade enthusiasts should keep a close eye
on the actions of the PBOC (China's central bank).Most major actions of the
PBOC are not related to the love trade.They're related to the fear trade.
10.A growing Chinese QE program, a possible announcement
of higher official gold reserves, and/or a public endorsement of gold by the
PBOC could create a very powerful rally in gold, and an even bigger one in
gold stocks!
11.Please click here now.That's the GDX one
minute bars chart.Without the "juice" of a PBOC or other
fear trade announcement, gold stocks will continue to grind their way higher,
but probably in a manner that provides little emotional satisfaction each
day.
12.For the average investor, it was a bitter-sweet day
yesterday, because a lot of the day's gains disappeared in the last hour of
trading, but GDX was still up about two percent on the day!
13.Please click here now. That's probably the
world's most important gold stock chart right now.It's the daily chart for
Barrick.
14.Barrick is a key GDX component stock, and it's
flirting with the neckline zone of a massive inverse head and shoulders
bottom.The pattern has two heads, and the right shoulder appears to be about
to form.
15.Barrick's chairman John Thornton apparently bought
more than 350,000 shares in the open market in March.That's a serious
commitment to the company, and to higher stock prices!
16.The next Fed meeting begins today.I don't expect
anything dramatic from Janet herself, but Fed governors and presidents like
to voice their opinions in the mainstream media as the meeting takes place.
17.That can rattle the gold market a bit, and it may be one
of those statements that creates the right shoulder on the Barrick
chart.Aggressive investors may wish to consider purchasing Barrick call
options on any price weakness that occurs this week.
18.Any major fear trade event can theoretically drive
gold hundreds, or even thousands of dollars higher.Having said that, without
the existence of the love trade, gold would have collapsed in 2013 much like
it did in 1980.
19.It would probably be languishing in the $300 - $800
range now, and stay there until the next financial crisis triggered central
banks to either flood the system with liquidity, or revalue gold itself.
20.Please click here now.Apple plans to double
the number of its stores in Greater China (China, Hong Kong, Taiwan) by
mid-2016, and I think sales there will easily surpass sales in America by
early 2017.
21.The point I'm making is not about Apple.It's about the
growth of the love trade for gold.If China engages in a major QE program, its
stock market could soar higher for years, and citizens would celebrate by
buying vastly more gold jewellery.
22.Nothing the Fed does in its meeting this week will
change Apple's plans for massive sales growth in China, and nor will it
change the insatiable and exponentially growing appetite of Chinese citizens
to own a lot more gold.
23.Attention silver enthusiasts: Please click here now. Silver staged a
beautiful upside breakout yesterday from a bull wedge pattern, and its
holding the gains nicely!Note the fabulous set-up on the 14,7,7 Stochastics
oscillator at the bottom of the chart.I affectionately refer it as "Tony
the Tiger", and Tony is definitely roaring "Buy"!
24.Please click here now. That's the daily chart
of the silver stocks ETF, SIL-NYSE.Note the RSI oscillator at the top of the
chart, and the nice symmetrical triangle breakout occurring. Silver is my
second largest holding, and silver stocks are my main focus at the current
time, to play the next move higher in the precious metals market!
Special Offer For Website Readers:Please send me an Email to freereports4@gracelandupdates.com and I'll send you my free "Bake My Golden Cake!"
report.I pit three top junior uranium stocks against three top junior gold
stocks, and outline key buy and sell points.All these stocks look set to
shine in the immediate timeframe!
Thanks!
Cheers
st
Stewart Thomson
Graceland Updates
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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
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Are You Prepared?
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