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Rick has a higher target for gold that will make the bulls happy

Cory
January 17, 2017

Today with Rick Ackerman we look at the gold move through the initial resistance zone of $1,210. He shares a couple entry points where he thinks investors can be protected while capturing some of the upside. As mentioned in the title there is also a higher more long-term target north of $1,400! We also touch on the move down in the USD today which no doubt is supporting the gold move higher.

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Discussion
12 Comments
    CFS
    Jan 17, 2017 17:01 AM

    How does Rick explain the $USD behavior?
    Especially since he was calling for a rise for several weeks.

    Jan 17, 2017 17:03 AM

    It is called the Trump effect………”dollar is to high” quote

      Jan 17, 2017 17:59 AM

      Dollar Tumbles After Trump Calls Currency “Too Strong”, Slams Border-Adjustment Tax

      Just How Crowded Is The “Long Dollar” Trade? The Answer In One Chart
      According to Wall Street managers responding to the latest BofA survey, the “Long USD” is the most crowded trade by a mile, having risen from 35% in December to a whopping 47%, the highest response rate in the last few years of the survey.

      Putin Warns Of “Maidan-Style” Attempt To Delegitimize Trump; Doesn’t Believe Trump Used Hookers In Moscow

      Warning that a “soft coup” is being waged against Donald Trump, Russian President Vladimir Putin said that he sees attempts in the United States to “delegitimize” US President-elect Donald Trump using “Maidan-style” methods previously used in Ukraine, whle calling those who ordered the compromising Trump dossier “worse than prostitutes.”

      http://www.zerohedge.com/

    CFS
    Jan 17, 2017 17:04 AM

    Currently:

    SGE: Gold $1235.11
    Silver: $18.39

    Those magnets are pulling.

    Jan 17, 2017 17:07 AM

    I hope Rick is right about 1445 gold as I just bought more SLW@20.7 today.

    Jan 17, 2017 17:47 AM

    Mexus (MXSG) adds additional property to its portfolio
    January 17th, 2017 (GLOBE NEWSWIRE)

    “Included in this agreement is the addition of 6 concessions by MarMar Holdings Inc. which brings the total area of the San Felix Project to approximately 26,570 acres. Situated on the property is an approximate 3 million ton leach pad in place and a 1600 GPM Merrill Crow gold recovery system. Having the leach pad and recovery system in place will greatly reduce the time and cost to bring this mine into production. Mr. Marco Martinez, CEO of MarMar Holdings Inc., owns heavy mining equipment which is stored 45km north of the San Felix project. This machinery can be mobilized in a short period of time which reduces the significant expense associated with equipment hauling. Initially, MarMar Holdings Inc. has a goal to produce 10,000 tons a day with output increasing over time. The Company possesses geological reports, mapping, drill results and sampling data which indicate a potential 1,000,000oz gold equivalent. ”

    Santa Elena Mine

    The crew at the Santa Elena mine is back to full speed after the normal holiday slow down. Progress continues which will allow for production start-up prior to the San Felix mine. Mexus’ commitment remains steadfast in getting the Santa Elena into production which is keeping with our commitment to the shareholders of MexusGold US.

    “This is truly an exciting time for Mexus. In approximately 6-9 months we will have 2 fully operational mines in the Santa Elena and the San Felix,” added Mexus CEO Paul Thompson.

    http://www.mexusgoldus.com/news.php

    CFS
    Jan 17, 2017 17:49 AM

    Is platinum being attacked? Or is it the dramatic rise in the Rand exchange rate?

    Jan 17, 2017 17:06 AM

    The Epic of Bank Corruption Continues ! https://www.youtube.com/watch?v=P8MD-7u2UDw

    CFS
    Jan 17, 2017 17:55 AM

    Gary Savage latest:

    https://youtu.be/jcyXd7XP_wc

    Jan 17, 2017 17:26 PM

    Experts have been pumping financials which had already gone parabolic were the worst stocks to hold. JPM down 3.6%, BAC -4.1% WFC -2.77%, My holdings which are now 100% in the general market were all up today. XOP finally bounce and I sold a large position which had been dead too long.

    Jan 18, 2017 18:15 AM

    Rick A,

    Thank you for mentioning this book :

    Edwards and McGee
    Technical Analysis
    Stock Trends

    Series: Technical Analysis of Stock Trends
    Hardcover: 624 pages
    Publisher: CRC Press; 10 edition (November 28, 2012)
    Language: English
    ISBN-10: 1439898189
    ISBN-13: 978-1439898185
    Product Dimensions: 7.2 x 1.5 x 10.1 inches
    Shipping Weight: 2.8 pounds

    Anyone have a used copy they’d like to see ? ( Seriously )
    This book is expensive.

    ~X

    Jan 18, 2017 18:16 AM

    Meant to say “SELL”, not ‘see’