Critical Turning Point For Gold
Chris joins Elijah K. Johnson on the Miles Franklin Market Update. The big question as a precious metals trader is “which way will we break out of this topping phase”. If gold breaks out to the downside we could fall out of favor for a while and be consolidating for 1-3 years. If we break to the upside then we will likely go parabolic and hit $2700, $3400, $5400 and see the same percentage type of gains as we did in 2010.
Back in 2002 was the last time we entered a major commodity supercycle which is very similar to now. We just came out of a major tech-heavy bull market, real estate was through the roof and commodities were the most undervalued asset. Watch to learn more about our thoughts on gold, silver, the US Dollar and bonds.