Gold report

The breakout in miners has confirmed that the bear is over. Hopefully most of you have ignored the analysts that were calling for sub $1000 gold, or the ridiculous notion that this was somehow a natural bear market. Gold was manipulated into a bear market just like I’ve been saying for years. Now that the Fed needs commodity inflation the price suppression has come to an end and gold has been released to resume its natural trend. Also I hope most of you paid attention when I warned not to short a baby bull. The job of a baby bull is to cause shorts the most pain and longs that have missed the move the most anxiety.

Tonight’s report is a must read for anyone who is bullish on gold. I’m going to lay out what is happening, and give traders a strategy how to trade the gold bull for the rest of the year. This is going to be a very profitable year for commodities in general and especially the precious metals.

I’ll reopen the 25% off of a yearly subscription offer for the rest of the day.

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24 thoughts on “Gold report

  1. Don

    So, GDX bottomed four days after it’s peak on March 17. Gold bottomed seven days ago. Do those qualify as cycles?

    1. Gary Post author

      Gold and miners are moving into the final euphoria phase of the baby bull. There’s no need to chase this. Once all the shorts are forced to cover and every panicked long buys then all of the gains will be given back. This does however provide the last confirmation that a new bull has begun.

      So at the next ICL one can shoot for the moon.

    1. Ray_B

      I feel the same Don … I sold all my GDXJ on Friday .. sure is hard seeing it going to the moon today!! 🙁

  2. itsinthedna

    Gary what do you think about this: Biotech bubble deflating and that money is now flowing into metals.

    1. Gary Post author

      No, no,no.,

      Everything is going to go up together.

      Wait for tonight’s report. All will be explained.

  3. Frederic Degembe

    Some analysts however remain bearish on gold and still see lower prices ($ 1100-$1130) into May/June as current uptick in gold could be the top of a right head and shoulder pattern.

    The question however is are the miners, that are breaking out leading gold or not?

  4. bill

    Against all odds I added DUST calls, they are just to cheap to pass up, and DUST looks to have capitulated. Im still long in the tooth with miners and took some EXK off the table, the profits were to great not to.

    1. bill

      Still in Bio I consider this consolidation not a bubble deflating especially after the $10 move we had for five days strait, practice patience folks…

  5. Joseph

    I did the same Don 2 weeks ago in HGU $35.50……
    Anyhow…. still think a UP week or sideways….

  6. Joseph

    Hi Gary, hope all is well. Is it possible if time permits if you can comment on the USD….. Do you see it hitting 93 or lower as if it does come dn so will the Stock rally…. I dont trade FX markets so why I’m asking is just the relation Btwn USD and stock mrkt rally …..

  7. Ralph Wiederzane

    Looking forward to tonight’s report as I still have all my miners. Today was another bang up day, with several holdings up in the 7-10% range, and one up 22%. I am trying to stay Old Turkey, but with 75% of my accounts invested in miners, perhaps G-train can convince me to at least peal off a quarter or half of my holdings to buy back at the ICL.

    It’s been a sweet ride!

    1. Ralph Wiederzane

      Thanks Joseph, but it’s more luck than anything else, I only planned on staying Old Turkey long term hold, but didn’t expect things to ignite in such a manner. I was thinking we will see HUI 1000 at some point, but didn’t think this month!

  8. Rango

    Gary i hope you made 100k on this rally. My account would have shown 150k now if only i didn’t deviated from savage train.

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