| Early last week, I started to compose my thoughts for our June issue of Gold Newsletter. |
| This entails a comprehensive review of my chart list in an attempt to figure out what’s been happening and, more importantly, what’s about to happen. |
| It didn’t take long for me to get excited. |
| You see, the then-current correction in gold had still fallen far short of what all the top technical analysts had been predicting, yet my charts and instincts were screaming that the price decline was about to end.
The gold price had been coiling in an ever-tightening pennant formation, the Bollinger bands had already pinched, the RSI was in the goldilocks zone and open interest in the futures had collapsed.
All gold needed was some spark. And thus, I wrote this advice to my subscribers: |
| “From the technical side, there’s an argument building that this correction, such as it is, could soon draw to a close.
“As volatile as the global economic and geopolitical scene is these days, a change in gold’s fortunes could come in a flash with some new headline. And with sentiment following price, that would then draw in Western buying to support the new trend.
“It’s a fool’s errand to guess at what such a headline might be, but for whatever predictive power the technicals may have, they’re pointing toward something in the near future.” |
| We got the spark we were waiting for last night, with news of Ukraine’s extraordinary drone attack deep into Russia. |
| Gold took off like a banshee on the news. |
| Moreover, silver is running right alongside gold. And...this is interesting...the Dollar Index is diving and the 10-year Treasury yield is rising.
So out of the three traditional safe havens, investors are only interested in gold!
And boy is it moving: As I write, spot gold is up over $80 (2.5%) while silver is up about $1.40 (4.25%)! |
| The major mining stock indices are all up over 5.5%...and the juniors in our Gold Newsletter portfolio are catapulting higher.
I cannot stress this enough: If you aren’t positioned in this market — and if you aren’t subscribed to Gold Newsletter — you need to rectify that situation now. |
| Just the warning I delivered last week could have paid the small cost of a subscription hundreds of times over. |
| We’re still in the first inning of this mining stock bull market, and there’s still time to get aboard for the potentially life-changing gains ahead.
I urge you to click on the link below to subscribe now. |
| Brien Lundin
Publisher, Gold Newsletter
CEO, the New Orleans Investment Conference |
| CLICK HERE
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