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Dear Fellow Investor,
Awhile back, I alerted you to the fact that gold was approaching some key technical resistance levels.
There was some urgency to my note, because I predicted that the gold price would quickly catapult higher once it hit those levels.
I was confident in my prediction, but I had no idea it would all play out so perfectly...and so quickly.
In fact, over the last 24 hours gold has smashed through that resistance and headed for the next key “catapult” level of $1,400.
Following The Script Line By Line
A few months ago, I noted that most technical analysts were looking at $1,350 or $1,360 as the important resistance levels that gold needed to overcome.
I also told you that I was much more conservative: I thought the metal needed to get through $1,372 (the peak price in 2016) to confirm a solid new uptrend.
But here’s the key: Every market technician, every trader out there looking at the gold chart, acknowledges that there is very little if any resistance for gold after it hits $1,400.
After it clears $1,400, the next big target would be close to $1,800!
So that’s why we were looking at $1,350 to $1,372 as the “catapult” levels for gold. Because once the metal got past that area, it should quickly sprint to $1,400...and then the game would truly begin.
Smashing Through Every Resistance
As you are probably well aware by now, gold answered the question of which line of resistance was most important.
It did so by smashing through all of them in one fell swoop.
In after-hours trading on Wednesday evening — after the Fed’s remarkable post-meeting statement that essentially promised future rate cuts to support the markets — gold leaped to $1,350...
...Minutes later, it surged through $1,360.
...And even before New York trading could open, it powered through $1,380 — obliterating our key barriers to higher levels.
It Gets Better...
Instead of calming down as it usually does in Comex trading, gold continued to rise through the day yesterday, actually challenging the $1,400 level before falling back.
Then, last evening, gold rocketed through $1,400, to around $1,410 at one point, before falling back below that key threshold.
As I write, it’s up around $10 and trading around $1,398 — a hair’s breadth away from the launch point of $1,400!
Now, I need to make one important point: The spike in gold last night came as the U.S. was poised to launch a major attack against Iran.
The FAA had closed civilian overflights across Iran and the U.S. had strike planes in the air and headed toward their targets...and then President Trump had second thoughts and called the raids off.
So gold fell back below $1,400.
But the gold market is obviously on a hair-trigger right now. The metal seems to want to get over $1,400.
And what’s doubly important is that, while geopolitical issues are throwing some gasoline on the fire, the real driver for this move is more fundamental and long-lasting:
Gold is moving because the Fed has made a stunning turn-around toward monetary easing once again.
Whether today, tomorrow, or a few weeks down the road, gold seems certain to clear $1,400 and take off for much higher levels.
You need to be ready for this historic move.
Here’s What You Need To Do NOW...
The situation right now is fluid and I urge you to completely understand the pivotal turning point we have reached.
A great way to get up to speed is to watch the speech I gave at the MoneyShow Seattle this past Sunday. Our friends at the MoneyShow just put the recording up on YouTube, so you can view it for free.
CLICK HERE to view my presentation at the MoneyShow Seattle now.
I gave my views on gold’s key breakout levels in that Seattle presentation, and fully explained the big-picture factors that virtually guarantee much higher gold prices over the long term.
If you’re looking to get my latest views on where gold is headed, I’m going to participate in a webinar next Wednesday, June 26, at 2:15 p.m. EDT.
To lead off that webinar, I’ll spend about 10 minutes providing my take on gold, before what promises to be a fascinating update by Great Bear Resources (GBR.V) — a company that has been one of our biggest recent winners in Gold Newsletter.
At this major crossroads for the gold market, this webinar promises to be extremely rewarding.
CLICK HERE to register for Great Bear + Brien Lundin webinar.
These presentations will quickly bring you up to speed on this amazing new run in gold and where it may lead.
But if you want to discover the best ways to profit from this move going forward — the specific strategies and stock picks — the two best ways to do so are to subscribe to Gold Newsletter and attend this year’s New Orleans Investment Conference.
(Note: I gave the audience for my Seattle speech a special link to get Gold Newsletter at half price, forgetting that the speech was being recorded. So I’ll honor that discount for you if you can order before the end of the weekend.)
So just click on the links below to get Gold Newsletter at half price and/or reserve your place at New Orleans 2019 for hundreds off the regular fee.
But do it now. Gold is on the launching pad and the fuse is lit.
All the best,
Brien Lundin
Editor, Gold Newsletter
CEO, the New Orleans Investment Conference
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