Gold, Silver, & Platinum Key Tactics Now

The traditional Chinese New Year “firecracker rally” for gold may be a dud this year, but investors who followed my “buy into $1788 and sell some into $1966” recommendation are in great shape.

(Click on image to enlarge)

weekly buy and sell zones chart

The $1767 low and the $2089 high should be the new zones of interest for gold investors.

Gold could decline to $1767 or even $1671. If that happens, I will urge all investors to take buy-side action with physical market gold, silver… and the miners.

What are the odds that it actually does happen? Well, Chinese gold prices have gone to a premium over London as of this morning, US election mayhem continues, and Goldman Sachs analyst Jeff Currie is predicting gold hits $2300 this spring and holds its ground.

Also, Corona is still a problem. The vaccines appear to be cash cows for the drug companies, but only a short-term fix for the citizens. Mutation may be a new concern.

So, I lean towards $2089 rather than $1767 as the next “order of gold price business”, but I want investors prepared to handle all potential outcomes on the gold market gridlines.

2021 will be the year of the ox for China, and that should also be the theme for the gold price; some volatility as democrat and republican combatants settle their views on the election with violence, but then new and bigger money printed handouts bring some calm to the storm.

Because the calm will be oriented around more debt and money printing, gold should hold most of its gains. It did that in 2020, but I think 2021 will see even more “ox-like” action for the world’s mightiest metal!

When gold is in an “air pocket” between the key buy and sell zones, as it is now between $1767 and $2089, there’s not a lot to do, and investors can use the time to look at other important markets.

(Click on image to enlarge)

COPX copper stocks ETF chart

Doctor Copper” is probably due for a pullback against the dollar, and so is the stock market, but that pullback can be bought in anticipation of (initial) “growthflation” from the government handouts.

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Almoni33 1 week ago Member's comment

excellent article. special thanks for the lucidity of the presentation and graphics. it is a rarity lately

Adam Reynolds 1 week ago Member's comment

Agreed.