This Hasn't Happened to Gold in Over a Decade

The next leg up for Gold is officially here.

Gold has broken out of the mother of all triangle patterns established by the long-term bull market trendline established in 2006 and its seven-year descending line from the 2010 peak.

Of course, things won’t be moving in a straight line from here. But the upside target for this formation is well north of $3,000 in the next few years (again, remember this formation took over a decade to form).

We get confirmation of this from the Gold Miners to Gold ratio (GDX: GLD). Think of this as a measure of Gold beta as Gold Miners typically lead the precious metal during major moves.

With that in mind, consider that the Gold Miners to Gold ratio has broken out of a bullish falling wedge pattern running back in 2007. This is MASSIVELY bullish and predicts the ratio moving to 0.45.

Put another way, Gold is going to be moving sharply higher. And Gold Miners are going to be going through the ROOF.

If you’re not taking steps to actively profit from this, it's time to get a move on.

We just published a Special Investment Report concerning a secret back-door play on Gold that gives you access to 25 million ounces of Gold that the market is currently valuing at just $273 per ounce.

The report is titled The Gold Mountain: How to Buy Gold at $273 Per Ounce

We are giving away just 100 copies for FREE to the public.

As I write this, there are 59 left.

To pick up yours, swing by:

https://www.phoenixcapitalmarketing.com/goldmountain.html

Best Regards

Graham Summers

Chief Market Strategist

Phoenix Capital Research

 

Comments

phatfawzi Dame Ednas Possum Wed, 09/06/2017 - 19:02 Permalink

you're such an intellect. Can't you make your argument without the name calling. Just because i read his stuff doesn't mean i subscribe to it. But sorry for the past 10 years he's been predicting the end of the dollar and i think he's been wrong the whole time on his calls. if you had followed his advice on gold, how have you fared? you wan't to buy gold go ahead who's stopping you. Am i not allowed to have dissenting argument or are you a little snow flake that melts whenever you hear any negative comment about gold. 

In reply to by Dame Ednas Possum

assistedliving (not verified) Tue, 09/05/2017 - 11:45 Permalink

Please send my FREE COPY of  The Gold Mountain: How to Buy Gold at $273 Per Ounce   to Madame Yellen

LotUnsold Tue, 09/05/2017 - 12:24 Permalink

What about the other triangle of 18 months ago?  It broke out of that one too.I'd love to have a business like Phoenix Capital where I could get it wrong every week and still stay in business.

honestann Tue, 09/05/2017 - 16:47 Permalink

Yeah, right.  Buy gold in the ground for $253 per ounce... then spend $1200 per ounce to dig it out and process.  That is, assuming the local predators-that-be will even let you, and assuming they don't massively raise their cut once production gets into high gear, and assuming lots of other risks go your way.

meterman Tue, 09/05/2017 - 18:37 Permalink

Now SummersSoon these guys:     Ted ButlerGerald CelenteJohn EmbryMarc Faber                        Bill Gross                           Andy HoffmanBill HolderWilliam KayeDoug NolandHarry OrganRaoul Pal                          Rick RuleRichard RussellJim Sinclair                     Ed Steer                            Bix WeirJim Willie 
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grizfish meterman Tue, 09/05/2017 - 21:27 Permalink

So, Mikey Meterman, which govt exchange do you work for?Only the govt knows for certain that analysts will be wrong in the future.  Not difficult to predict.  I have been following this situation since before 2006 when Ted Butler reported about the LME (London Metals Exchange) default on Nickel.  Govts can short with impunity because it's all rigged, at least until the BRICS do something about it.

In reply to by meterman

Watson Wed, 09/06/2017 - 03:55 Permalink

This is what has happened with gold. You may not like it.

For a long time it traded between 200 - 350 USD.

It then got into a standard-bubble, finishing around 1,800.
It quickly dropped the standard-bubble 1/3 from the top, to around where it is now.

The only reason the price hasn't fallen much further is a combination of a world financial crisis,
and a reduction in interest rates to very low levels that might have stoked general price inflation.

However, if low interest rates haven't caused general price inflation to go into a real tear by now, it's not going to happen anytime soon.
I suspect that is down to excess manufacturing capacity all over the world, particularly China, the factories being full of robots or (very) cheap workers so the marginal cost of production is near zero.

If you bought gold in the 200-350 range, you have done well.
Buying it at current levels is, IMO, a serious mistake.

Watson

Rodders75 Wed, 09/06/2017 - 03:57 Permalink

Good commentary here.http://allstarcharts.com/premium-deep-dive-gold-silver/

  • Gold is not in a downtrend, but in more of a sideways longer-term trend. I think we can see 1380 again, but I think it’s capped there for now. From the downside, as long as we’re above 1200 then I think approaching this from the neutral or long side is best. Not short.
  • If Gold Miners $GDX are able to break out and hold above these downtrend lines, both longer-term and short-term, it would be incredibly constructive for precious metals as a group.
  • Some stocks worth looking at are: $NEM $RGLD $PASS $IAG
  • From a relative strength standpoint, Gold is still in downtrend relative to the S&P500 and Copper. So changes in these trends would be a bullish catalyst for sure that we still haven’t seen

 

dark fiber Wed, 09/06/2017 - 04:19 Permalink

That index you are looking at is not gold.  It a paper trading index pretending to be gold but has nothing to do with it.  BTW in today's central bank dominated markets technical analysis is useless.  For gold make that useless times ten.

T.Gracchus Wed, 09/06/2017 - 10:06 Permalink

The Chinese must be so pissed knowing that their 34,000 tonnes of gold will al have to be given away as scrap, once bitcoin reaches its pinnacle of glory.