Video length: 00:13:36

Summary:
In this video I'm going to give an update on gold and the gold stocks.  Let's start-off with fundamentals... I've talked about how the Fed needs to change its policies and the precious metals market will move when the Fed starts a new rate cuts cycle and it looks like that's coming to pass.  The Fed has intimated that it will cut rates at its next meeting in June. Next we'll move into the technicals and start by looking at the Gold CoTs and then we'll look at Gold and Gold Stocks against the stock market (SPX).  How gold performs against the stock market will tell us how long this move in gold will last.  Gold can still do really well her and make a run even if the ratio doesn't strengthen all that much. Lastly 1700, that's the measured upside target for gold, based on this bottoming pattern that's developed over the last 6 or 7 years. If gold reaches 1700, then the measured upside target for GDX is 50, and for GDXJ is 83, that's roughly 150% from here, that's major potential and I'm very optimistic. But lets watch this week because if we see a dip to 1360 or 1370... that could be a buying opportunity.