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After the move in gold today Rick shares a new higher target

Cory
February 24, 2020

Rick Ackerman joined me for an impromptu interview where he shares a new target for gold that is over the $2,200 level. We discuss what it will take in terms of gold moves to solidify the target as well as how confident Rick is that it hits that level.

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Here’s the pattern Rick is using to project the $2,285 target
Discussion
19 Comments
    Feb 24, 2020 24:36 PM

    Cory: Maybe this has something to do with gold’s correction today: https://www.zerohedge.com/commodities/gold-suddenly-hammered-multi-billion-dollar-sale
    I like the last answer that Rick offered also!

    Feb 24, 2020 24:54 PM

    Rick what is your time frame for this $2200 gold price?? Thanks

    Feb 24, 2020 24:03 PM

    Perhaps 12 to 18 months, Paul. But getting a good read here will depend on how easily, if at all, buyers exceed the 1666 midpoint ‘Hidden Pivot’ resistance. That is key.

    Feb 24, 2020 24:31 PM

    This sale may have had something to do with the drifting down of gold today: https://www.zerohedge.com/commodities/gold-suddenly-hammered-multi-billion-dollar-sale

    Feb 24, 2020 24:46 PM

    Over the long haul, assuming Comex April Gold is able to blow past the $1,666 ‘midpoint Hidden Pivot’ shown in the chart, every Machiavellian enemy of gold that has ever worried GATA will not be able to prevent the price from reaching $2,285. Those who are able to temporarily affect its price are merely unwitting slaves of much bigger, cyclical forces that lie well beyond their understanding (although less so beyond yours and mine). Not to worry.

      Feb 24, 2020 24:21 PM

      Rick, through the marvels of other worldly science , do you see a financial crash in the near future and do you think The Fed has the ability and the tools to avert the crash as they did in 2008. DT

    Feb 24, 2020 24:42 PM

    The Fed and all the other central banks put together are just piss-ants in comparison to the quadrillion dollar derivatives bubble they’ve created, so, no, they will have no power to an implosion once it has begun. They are barely holding off a catastrophic deflation as is, even though they’ve managed to bring the debt burden on $13 trillion in bogus paper down to zero percent or less. How long can that go on?

      Feb 24, 2020 24:21 PM

      ditto on the derivatives……….

    Feb 24, 2020 24:05 PM

    Tomorrow, life is always about manyanna, it will be interesting to see if prices once more begin to climb. This time will History repeat itself, will the market fool us all again and readjust itself into a more secure position, or is the decline about to begin again. Few men like to assume the responsibility of spreading alarm by making dire predictions. Prophecy is the hazardous of all occupations.

    Feb 24, 2020 24:11 PM

    Rick just made my day. 2285 might get NEM over 100.
    Wonder what his target for silver is?

      Feb 24, 2020 24:10 PM

      Silver lags gold badly on the monthly chart and has yet to trip a long term ‘buy’ signal. That would occur at 23.990 (basis the continuous March Comex). The equivalent target in Silver for the one at 2285 in Gold is 55.05.

    Feb 24, 2020 24:15 PM

    FROM LAST WEEK>>>>>>>>>>
    ..$1731………….sounds good.
    $1690.20
    $1616.50…..check April comex…..per Rick…

    Reply to this comment
    On February 19, 2020 at 12:16 pm,
    bonzo says:
    1731 by April sounds great. Al can invite Pat Boone to sing “April Love” for us to celebrate 1731. Smokey Robinson turns 80 today!

    Reply to this comment

    Feb 24, 2020 24:18 PM

    midterm limits…..pivot…………$1666.10………..
    $2285.90…………..

    Feb 24, 2020 24:55 PM

    Looks to me we are going to test the 1650……..looking at the NY GLobex at kitco….
    Should be interesting again……over night…….to see what happens in the Stock Market tomorrow…..Jamie needs a new pair of shoes……lol

    Feb 25, 2020 25:09 AM

    $2285 may be a long time in coming, but here’s a nearer target at 1732.90 (basis April) that looks like an excellent bet to be reached: https://bit.ly/2TegxSv

      Feb 25, 2020 25:54 AM

      $1732 seems reasonable as a target for the next leg higher in Gold. Thanks Rick.

        Feb 25, 2020 25:22 AM

        So……..the new target is $1732……..Looking at the stock market today(early)….another sell off, and not the dead cat bounce…..would lead me to think, ….gold is on it’s way higher …..J. the Long…. 🙂

    Feb 25, 2020 25:06 AM

    Ur welcome, Excelsior. I give this target a very good chance of being achieved over the next 2-3 weeks because the pullback after the futures blew past p=1595.70 (see chart) did not give me an opportunity to buy at x=1527.10 (the green line). This is what I call a ‘mechanical entry’ (using my Hidden Pivot Method), and when rallies are too steep and corrections too shallow to get a piece of them, that’s usually a bullish sign.

    Feb 25, 2020 25:45 AM

    Silver ……..Jamie jumping up and down……pounding it through the floor…..