Loading ...Chart below, look at the late 2015 final bottom, at $1,050. Six months after that, Gold was$1,350, $300 up in SIX months by summer 2016, then Trump and the new rhetoric or “plan” convinced everyone “the economy is going to boom, we’re going to bring the jobs back, we’re going to lower everybody’s taxes, we’re going to increase military spending, interest rates are going higher, and we LOVE guns and love the second amendment. We’ going to build a wall and block immigrants also. Open the coal mines, defang the EPA. We’re not going to take it anymore.” Lately the bad mouthing the Fed, that’s another big reversal.
So right off that bat, the people thought, forget about Gold, don’t need it, everything’s going to be fine. So Gold and Silver started crashing but bottomed with a higher low. Sell your Smith & Wesson and Ruger stocks, gun sales will fall off a cliff without Obama. And both stocks dropped hard. So, about three months ago gold made a THIRD higher low point around $1175, so add $300 to that, ($1475) and that’s what I think is the minimum of what can happen, in six months or less, because this is a continuation of the prior gold breakout that started in late 2015 at $1,050 A REDICULOUSLY low price for an ounce pure Gold.
https://finviz.com/futures_charts.ashx?t=METALS&p=m1