Silver’s Even More Enticing
We’ve received scores of inbound emails in the past two weeks, regarding our outlook for precious metals.
After all, my price target for gold for this bull market is $2,582/ounce, so why am I covering and analyzing the possibility that gold will dip below $1,700 towards the $1,650 range, and why am I alerting that silver could bottom around $17.30?
We’re in a dollar squeeze on the Eurozone and gold’s correlation with the EUR currency is uncanny!
I’ve seen periods where the dollar had been strong and gold was rallying as well, but I’ve NEVER seen the euro collapsing and gold gaining at the same time.
Therefore, as we’re melting upwards with the American currency, gold and silver are decapitated.
The dollar’s rally has taken it to a 20-year high, compared with the leading fiat currencies, and it has reached parity with the euro.
The Federal Reserve is now very close to making policy errors, and those are precisely the moments that the precious metals sector bottoms.
So, in summary, we’re undergoing a once-in-a-generation dollar squeeze and there’s nothing smart you can do to avoid it, but you can certainly capitalize on the other side of it!
Courtesy: Incrementum AG
Gold bull markets end when STOCKS ARE CHEAP!
As you can see, equities are still not undervalued yet, even after these massive declines.
They are cheaper and there are certainly opportunities, but they AREN’T cheap, historically.
If we’ve entered a cyclical bear market – and there is every indication that we have – this beheading we’re seeing in gold and silver is nothing short of a MAJOR OPPORTUNITY to load up, very similar to gold’s 50% nasty correction in the mid 1970’s, before it shot to the moon!
Keep in mind that in 1980, gold peaked at $850/ounce. In 2011, gold peaked at $1,917/ounce. In August 2020, gold rallied to $2,069 and repeated its rally to $2,000 earlier this year.
In other words, gold has DONE NOTHING since 2011!
Courtesy: Incrementum AG
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I’m going to repeat this once more: Gold is destined to reach $2,582/ounce and silver will get to $35-$40 in this cycle, but the promised land is filled with messy turns and thick jungles.
For the first time in over three years, I am close to purchasing a massive position in a silver company and, if gold dips below $1,700, I’ll be adding to my two favorite gold companies as well.
This is a shakeout that is testing the resolve of bulls around the world who are losing faith, but the big picture is that equities have entered a long-term bear/sideways trading pattern and gold is still extremely attractive.
On Sunday, I will be diving deep into the CPI report and how this is changing the world of equities as well.
But I want to present another major reason to remain ultra-bullish on gold right now:
Courtesy: Incrementum AG
I’ve seen panic-buying and I’ve seen panic-selling, and neither are healthy or constructive.
The intelligent investor is not emotional, but methodical, not impulsive, but calculated.
Gold is cheap and it’s not time to sell; the euphoria is not even close to 2011 levels.
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