Gold settles down – when’s the next breakout?

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Settling Down

As expected, gold pulled back from its recent torrid rally. The question right now is, when will it begin the next move higher?
 

Plus: A webinar to explore whether this really is a new gold bull market...

Last week I warned you that gold was due to settle down for a while. Well, here we are.

Now hold on — before you start thinking I’m an investing genius, you need to understand that this prediction was based on a clear pattern established since this new gold bull market began, almost precisely on March 1st.
 

Since then, the gold price has traced out three examples of a rapid run higher, followed by a correction and sideways trading for a few weeks, then another spike higher after that period of digestion.

That pattern is clear to see in the chart above. Note that the big price correction of last week was not unusual, but that the trading range from late May to early July was the longest we have yet seen.
 

As you’ll remember, I predicted the latest rally on July 1st based on the pattern above and a collapse in price volatility, and told you last week to expect the current correction for the same reasons.
 

The questions now are, how long will this digestive period persist, and when are we going to see the next big rally? Based on the record so far in this bull market, the correction could last from two to six weeks.

Looking at the fundamentals, though, with the U.S. political situation in turmoil and the September 18th Fed decision looming, I believe that this rest period could be a short one.
 

My best guess is that we’ve only got a week or two before this bull market gets back in gear.

Which means that a webinar I’m participating in this Wednesday is particularly well timed....

Is This Genuinely A Metals Bull Market?

As you see above, I’m participating in a fascinating webinar this Wednesday at 12 noon EDT/9:00 a.m. PDT, exploring whether this really is a new, secular bull market along with panelists Thom Calandra, Rick Van Nieuwenhuyse and Dan Wilton.
 

This is going to be lots of fun and very informative. All my fellow panelists are top experts with decades of experience, and the team at 6ix will help us dig deeply into the prospects for gold, silver, copper and more.
 

Don’t miss this — I urge you to click on the link below to register now.

All the best,

Brien Lundin
Publisher, Gold Newsletter
CEO, the New Orleans Investment Conference

CLICK HERE
To Register For
“Is This Genuinely A Metals Bull Market”
Wednesday, July 24th
12 noon EDT/11:00 a.m. CDT/9:00 a.m. PDT
 

CLICK HERE to watch interviews by Brien Lundin and Kai Hoffmann with many of today's most exciting junior mining companies on the

Gold Newsletter Youtube channel.