Gold Bugs Need to Ignore the Market Noise and Focus on Using Good Tactics

  1. Conspiracy buffs are probably wondering if Monday’s big vaccine announcement (that occurred just after the election of Joe Biden) was a coincidence.
  2. Would the outcome of the election have been different if the vaccine announcement was made a few days before the election?
  3. Probably, but gold bugs need to ignore this market noise and focus on using good tactics… to get richer!
  4. Please click here now. Double-click to enlarge this important daily gold chart.
  5. The $1850 support zone stopped yesterday’s $100/ounce price decline. It offers investors a great real risk versus potential reward opportunity to enter fresh positions.
  6. Stoploss enthusiasts can place a stop order at about $1845, basis this December futures chart.
  7. Please click here now. Double-click to enlarge. Conservative investors with a longer time horizon should focus on this weekly gold chart.
  8. Gold is in a kind of technical “no man’s land” between massive support at $1788 and massive resistance at $2089.
  9. The bottom line is that $1850 is a good entry point for short-term traders and $1788 is best for conservative investors. Having said that, investors with no gold (or related items) can buy at any price, because precious metals are the ultimate asset class!
  10. Please click here now. Double-click to enlarge this interesting BITCOIN chart.
  11. Like gold, BITCOIN is a private currency. At my https://gublockchain.com website, subscribers who took action at my key $4000 buy zone have recently booked “three bagger” profits at the $14,000 sell zone.
  12. Many analysts view gold and BITCOIN as competitors. I view them both as solid members of the global private currency family, with gold of course being the “senior statesman”.
  13. Please click here now. Double-click to enlarge this daily Dow chart.
  14. While the Corona virus has turned America into a bit of a pestilence and debt-themed wasteland, many companies are doing well and the Dow 30,000 price marker is important.
  15. A two-week close above 30,000 could usher in a fresh leg higher. The government handouts related to Corona have been retained as savings by many citizens, and those citizens are sitting on the stock market sidelines.
  16. Good news related to the vaccine and corporate sales could bring those investors into the market.
  17. If republican attempts to overturn the US election are successful (unlikely), more debt is as likely as it is with a Biden administration.
  18. While a vaccine announcement has initially produced a “risk-on” frenzy, it’s likely that inflation begins a significant up tick as citizens, corporations, and governments throughout the Western world take on even more debt… and then engage in even more consumerism than they did before the Corona crisis.
  19. China’s economy has taken on damage from Corona, but less than in most other nations. A good vaccine could produce powerful gold buying in December and January, to celebrate Chinese New Year.
  20. Please click here now. Double-click to enlarge this interesting silver chart. While gold broke its October low and reached its September low, silver has held above its equivalent lows.
  21. That’s positive action, and it’s likely related to institutional concern about inflation and the green energy boom that the Biden administration is likely to promote.
  22. Silver demand will grow as solar panel demand grows. Inflation could put that demand on steroids.
  23. Please click here now. Double-click to enlarge this GDX chart. The upside breakout from the bull wedge pattern was legitimate, but it was overwhelmed with the vaccine news.
  24. A pullback was expected, and to prove the breakout is real, GDX now needs to close above the $41.81 high. If that happens, a powerful leg higher should begin!

Special Offer For Website readers: please send me an Email to freereports4@gracelandupdates.com and I’ll send you my free “Golden Inflationary Rockets” report. The CDNX junior mining stocks index was barely down while gold took a $100/ounce hit on the day. I highlight eight solid junior miners on the move, with key buy and sell tactics for each stock!

By Stewart Thomson

Stewart Thomson is a retired Merrill Lynch broker. Stewart writes the Graceland Updates daily between 4am-7am. They are sent out around 8am-9am. The newsletter is attractively priced and the format is a unique numbered point form. Giving clarity of each point and saving valuable reading time.

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