Wednesday, April 03, 2024 4:21:38 PM
Having said that gold and silver along with the mining shares WON'T go straight up from here. I see the current move higher as part of an overall blow-off top in the market. I won't claim to know how high or long it will last. but I will offer some views from a chart technician bullish on the PM market going forward, but even he sees a major correction coming in PM prices BEFORE the actual big move comes later on. Will he be right? Who knows, but what I like about what he bases his predictions on are PAST moves in the market and past moves in the metals. He talks about it in this recent interview.
Chris predicts a near-term top of $2670 in gold before a turn lower happens. He believes the lower move in gold would most likely coincide with a fall in the stock market, as ALL assets, including gold, silver, and the miners will be hit in the initial selling. I think he's right in that assumption.
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