Silver The Resurrection Begins Now

From a technical, cyclical, and fundamental viewpoint, gold is in a fabulous position for price appreciation against American fiat currency.

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wonderful “bull flagification of gold” chart

Months ago, I suggested that late August would see a fade in Corona cases bring a revival in Indian gold demand. It’s happening now, and at a time when seasonal buying tends to strengthen.  

Concerns about inflation and the botched US government withdrawal from Afghanistan add to the very bullish mix of fundamentals.

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The bottom line is that the short-term gold chart looks fabulous and the weekly chart… even more so!

Note the fresh buy signal in play on the 14,5,5 Stochastics oscillator at the bottom of the chart. That’s the first significant “green shoot” for gold since early March.  

From here, a surge to $1830 and $1920 seems likely.

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incredible big picture gold chart

In 2012, I suggested that a massive inverse H&S bull continuation pattern would likely form on the weekly chart, and that’s playing out beautifully.

Not surprisingly, these gargantuan price patterns require enormous amounts of investor patience. The “head” of the pattern alone took about six years to form.

The good news is that the short-term charts suggest that a breakout from the huge right shoulder is going to happen soon!

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Nasdaq ETF moving averages chart

Gold bugs tend to get nervous when the stock market falters, but the Fed has jettisoned hawkish plans whenever the market has even a tiny dip.  

The Fed has morphed into a disgusting fiat welfare office for the elite. There is no QE for gas at the pump, property taxes, groceries, car repairs, or the credit card debt of regular citizens.  

It claims to be supporting the economy, but all the US central bank really supports is rich stock, bond, and real estate investors who are terrified of a bear market.

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