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Christopher Aaron – Are We In The Final Phase Of The Gold Bull Market That Started 9 Years Ago?

Christopher Aaron, Founder of iGold Advisor and Senior Editor at the Gold Eagle website, joins us to review his medium to longer-term technical outlook on gold, silver, the precious metals stocks, and the Dow:Gold ratio.  We review the whether the conditions present today might potentially indicate that we could be in the final phase of the precious metals bull market that started 9 years ago when gold bottomed at $1045 in December of 2015.

 

We start off focused on the gold technical charts, where Christopher’s upside extrapolation target coming out of the 2022 false breakdown to $1620 up to $2,680 has now been eclipsed, and he points out that there is no chart-based evidence for higher gold prices, even though gold is now in the mid $2700s.  However, that doesn’t mean that it can’t keep running higher, but it’s important to now consider gold in relation to other adjacent markets like silver, gold equities, the dollar, and US equities. 

 

For example, with silver, Christopher has a current upside target of $38.60, after adding on the $6.10 extrapolation move to the $32.50 resistance and breakout, so if silver is going to keep running higher, then gold should be able to continue moving a little bit higher as it consolidates the big moves it has already had. We also discuss GDX and that the recent move up to $44.22 got close to the 2020 peak of $45.78, but that thus far the gold equities have underwhelmed investor expectations.  However if silver is going to keep moving, then it is possible we could see a nice catchup trade in the gold and silver stocks.

 

The real test for the longevity of the precious metals bull market comes down to how they are going to perform versus US equities, once the large 40+ year consolidation triangle pattern on the DOW:Gold ratio finally resolves in favor of general stock markets or gold.  If that triangle resolves in favor of gold then some of the larger targets of $5,000-$10,000 gold are not off the table, but if the triangle consolidation breaks in favor of US equities, then we are likely seeing the final wave of this precious metals bull market, where gold will then correct sideways to down for a decade or more.   Christopher urges investors to align with what the market data shows us, to strongly consider this point in history and a data-based approach, and not to listen or fall for the sector story tellers. 

 

 

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Click here to visit the iGold Advisor website to keep up with Christopher’s market commentary.

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Click here to follow Christopher’s writing over at the Gold Eagle website

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Discussion
14 Comments
    Oct 29, 2024 29:26 AM

    Aaron doesn’t have any chart-based evidence for higher gold but chart-based evidence for higher gold does exist.

    Reply
    BDC
    Oct 29, 2024 29:02 AM

    https://www.tradingview.com/x/fBAQEZXl/
    NatGas : Zone Outlook This Morning
    Deeper Lows Are Possible

    Reply
      BDC
      Oct 29, 2024 29:39 AM

      Possible: 2.829 +/- .004

      Reply
    Oct 29, 2024 29:43 AM

    BIS announces it is taking on the BRICS system. The BIS is just going public that their Western World criminal scheme is not appreciated anymore. I am sure they will not use those words, but will react in some other criminal fashion to assert their misplaced authority.
    My account down as usual with the “main goat” to start the day being Emo. There must be a sign on the wall of the New York Fed Trading Desk that says “ When All Else Fails, hit Emo”.

    Reply
      Oct 29, 2024 29:01 AM

      That was called a buying opportunity on EMO this morning as someone bailed. 😉

      Reply
    Oct 29, 2024 29:19 AM

    Here is a headline in the news I just saw:
    JP Morgan sues customers over “Thefts From Their ATMs”.
    Think about that one for the last 110 years or so..

    Reply
      Oct 29, 2024 29:59 AM

      I think the charged customers should request a Consolidated Jury Trial, even though it is a Civil Case and then see how JP Morgan explains their 5 Criminal Felony Pleas to the jury. It is possible that the comparison of crimes may leave JPM with egg on their face.

      Reply
    Oct 29, 2024 29:09 AM

    Cerro De Pasco, the tension is building, it could go either way, it is a hard one to figure out, remember we are all gamblers in life, gambling on how long we will live. Someday you will see the white light as your spirit leaves your body. As always DYODD! LOL! DT 🤣

    Reply
    Oct 29, 2024 29:31 AM

    Another interesting attention getting headline:
    Large crowds gather in Georgia protesting that the election was rigged… hmmmm
    Actually it was Georgia the Country, formerly part of Russia, that was protesting. Catchy but misleading… reinforces fact checking

    Reply
    Oct 29, 2024 29:47 AM

    And Another:
    “”Early Voting Mail-in boxes set afire in … (wait for it)… Portland Oregon.”

    Reply
      Oct 29, 2024 29:04 AM

      Begs the question that if you think the election is rigged, why would you burn valid ballots?

      Reply
      Oct 29, 2024 29:13 AM

      Oregon? Of course. As Big Al once said: “Oregon has always had insane politics.”

      Reply
    Oct 29, 2024 29:42 AM

    Four hour chart on silver, looks good… so far 🤣

    https://www.tradingview.com/x/Nr4RTao9/

    Reply

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