GOLDBUGS AMEX Goldbugs Index (GOLD)

[Pro-Life]

Gold Readying to Rally
Adam Hamilton October 6, 2017

http://www.zealllc.com/2017/goldrdrl.htm

The bottom line is gold is readying to rally. The sharp pullback it suffered over the past month is normal and healthy, serving to rebalance sentiment. Despite the falling prices and resulting bearishness, gold remains well within its bull-market upleg’s strong uptrend channel. The futures speculators responsible for gold’s selloff can’t keep jettisoning long contracts at the extreme and unsustainable rate seen last month.

Meanwhile stock investors continued aggressively buying gold, driving GLD’s biggest monthly holdings build of this gold bull’s second upleg. Their investment demand will explode when these crazy stock markets inevitably roll over. On top of all that, gold is on the verge of starting its biggest seasonal rally of the year. This past month’s sharp pullback created a fantastic opportunity to buy low before gold starts surging again.