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1.Gold
continues to astound most analysts, as it moves relentlessly higher.Please click
here now.Double-click to enlarge this daily gold chart.
2.The
triangle pattern in bullish play is perhaps best described as an "Ode
To Awesomeness".Note the inverse head and shoulders bottom pattern
that has appeared.That should help drive the price up and out of the triangle
pattern, to my $1305 target area.
3.It
feels like the bullion banks barely finish settling one price manipulation
lawsuit, and then another begins.Please click
here now.Scotiabank, which is also facing lawsuits for price manipulation
in the United States, is now facing a massive class action lawsuit in Canada.
4.Please
click
here now. While the bullion banks of the West are facing a barrage of
lawsuits, China has launched the SGE gold price fix system, and the launch
may be part of the reason gold is moving strongly higher this morning.
5.Please
click
here now.Although the trading departments of many banks are facing
lawsuits for manipulation, many bank analysts are doing superb research, and
Joni Teves at UBS is one of them.
6.The
UBS Global Macro department research team can move significant institutional
liquidity flows with its reports, and Joni is clearly very positive about
gold right now.
7.Please
click
here now. Not to be outdone, technical analysts at HSBC have set a $1500
target for gold!
8.In
late 2015, the price of sugar began to rise.I've noted that significant
rallies in sugar tend to lead quite dramatic rallies in silver.
9.Sugar
has started to rally again.Is silver poised to follow, and launch a "barnburner"
type of upside rally?For the possible answer to that question, please click
here now. Double-click to enlarge.This daily chart of silver looks
spectacular!
10.The
breakout this morning is likely SGE-related, and there's an outside
possibility that Scotiabank is winding down some short silver trades, to do
in-house window dressing for the lawsuit.
11.Regardless,
I think the entire Western silver community deserves a real
"Wheeeeeeeeeeeeee!" moment in time.That time is likely here!From
a technical standpoint, silver is staging a significant breakout from a large
inverse head and shoulders bottom formation.
12.Over
the years, I've argued emphatically that the entire Western gold and silver
community should generally avoid the action of "chasing price",
but if ever there was a time to do so, it's right now.
13.With
the "blastoff" action in play in the silver market this
morning, momentum enthusiasts should be ready to buy the breakout right now.
14.I
have a short-term target of $18, and if China's soft landing morphs into the
soft upside takeoff that I'm projecting, silver could move towards $25 and
gold towards $1500.
15.I
will note that bank and IMF economists are already revising their GDP numbers
for China to the upside, and rightly so.
16.Please
click
here now. Commodity trading is surging in China again.
17.The
jeweller strike is over in India, and the Akshaya Tritiya festival is
approaching.Indian buying may also be a factor in this morning's price
action.
18.That's
not really important.What's very important is the approach of a good monsoon
season, against the background of real world-leading GDP growth.
19.Gold
demand in India is set for a significant long-term rise, and with each day
that passes, the SGE in China is going to work tirelessly to make price
discovery better reflect real physical demand versus real physical
supply.It's not an event.It's a process, and a very positive one for the
long-term price of gold!
20.Please
click
here now.Double-click to enlarge this dollar versus yen daily chart.The
main reason I sold a third of my physical silver for gold in 2011 was the
"risk-on" signal being flashed by the US dollar against the
yen.
21.I
bought that silver back in 2014, as the dollar began to peak against the yen,
flashing a significant "risk-off" signal for the world.As
one example, the US stock market rose strongly in the 2011 - 2014, and has
since acted more like a wet noodle.The risk of an American stock market crash
is now quite high.
22.I
think the USD-yen relationship is on the verge of changing, because the
fundamentals of the relationship are changing.The Abe/Kuroda team in Japan
seem obsessed with managing a government debt crisis by raising taxes, buying
stock market ETFs with more printed money, and perhaps reneging on principal
payments to bondholders, after taking interest rates into negative territory.
23.The
citizens of Japan are the world's largest creditors, but their government is
one of the world's largest debtors.The debtors refuse to reduce debt and are
engaging in reckless fiscal policy.This may be creating a situation
where the next major rally in the dollar against the yen is not a risk-on
signal for global stock markets, but a buy signal for gold!
24.Please
click
here now.Double-click to enlarge this fabulous GDX daily chart.Gold stock
enthusiasts should watch the $23 area closely.GDX is rising up from a bull
flag pattern.If it moves above $23, the door is technically open, for a surge
to my $28 -$30 target!
Thanks!
Cheers
Stewart Thomson
Graceland Updates
www.gracelandupdates.com
www.gracelandjuniors.com
www.gutrader.com
Email: stewart@gracelandupdates.com
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