It look like now is the time to own Gold, ssentiment is negative, there is a signal of the renewal of the up-trend.
Based on Gold's history, and the prevailing conditions my works augurs for big gains over the next several months.
Investors want to own Gold in a Bull market.
When the USD begins to fall against other currencies, it is also going down in terms of the Gold price.
A Bull Market in Gold is when Gold is going up in terms of all the World's most important currencies.
Gauging Gold against the 4 major currencies; the USD, EUR, GBP, and JPY, the average price of Gold is up in all 4 currencies vs the prior month and the current month, the buy Gold Signal.
It is time to own Gold when the technical and fundamental signals flash the Buy signal, this signal has over 40 yrs of data to support it.
Based on history, buying a double-long gold fund when this system says buy is good for 41.4% annualized returns.
The signals are rare, on average we see 3 or 4 buy signals each year.
This is a early call because the the up-trend has not yet been established, but the signal is flashing, Gold is setting up to break out to test its psych mark at 2,000 oz IMO.
As I have been saying in this column, there is a case for a major move in Gold, as the sentiment is still on the negative side. Stay tuned...
Paul A. Ebeling, Jnr.
Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster's Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.
Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels.