This morning gold prices are trading up above their $1,240 resistance level and December highs on a 2% pre-market rally.
Gold Investing and Gold Stocks News
"We have said in our TMTF forecast service to watch 1190 as KEY support and 1241 would also need to be taken out on a closing basis before we could confirm a new uptrend in Gold and the end to the 5 wave bear cycle."
What is important is that we certainly appear to have seen a big turning point in gold from a bearish trend to an overall bullish trend.
There goes Yahoo Finance again this morning pretending to be a bastion of journalism as it acts as a paid mouthpiece of Merrill Lynch and other Wall Street firms that advertise on their channels.
In this week's podcast I talk about the meltdown in mining stocks and how it actually will create an opportunity to buy stocks at valuations level so low that they are priced as if they are going bankrupt.
Consider the average recommended gold market exposure level among a subset of short-term gold market timers tracked by the Hulbert Financial Digest....
Gold and mining stocks are now in the process of forming a bottom.
I think what we are going to see is a new trading range for the mining stocks for a few weeks...
I just interviewed Jordan Roy-Byrne of thedailygold.com about the coming few weeks in gold and mining stocks. I wanted to talk with him because of two interesting articles he wrote showing why he believes September is going to be a critical month for both gold prices and the stocks that mine gold.
I did this interview with Palisade Radio about gold and mining stocks. In it I described them as a rocket being fueled up with an ignition switch that can now be pressed at any moment.
Gold mining stocks are acting stronger than gold. No one can doubt that. You can see the charts of this yourself in this video update below.
There is a battle going on between gold bulls and bears and it is intensifying. That's because gold prices are approaching a critical juncture.
Over the past few weeks we have seen mining stocks make a transition out of a stage one base and into a new bull market. This transition is likely to be complete this week.
As this historic new bull market begins CNBC talking heads ignore and deny it.
When it comes to gold it is clear that the small fry does not believe it has bottomed and is selling out.
If this newfound momentum continues, gold stocks have the potential to achieve a record summer. With their exceptionally-bullish technicals this is certainly possible, but remains a tall order unless gold’s rare summer rally resumes.
In this podcast I talk about the gold move and interview Ike Iossif about his thoughts on gold and his projections for the S&P 500 and the US stock market for the next few weeks.
Gold begins new bull market and Yahoo Finance says sell.
Who was dumping gold and why? Later data confirmed it was American futures speculators short selling gold and silver at record levels. Extreme shorting is very bullish, as these bets soon have to be covered.
Last week six percent of the gold in exchange traded products and funds such as the SPDR Gold Shares (NYSEARCA: GLD) was liquidated by the masses.
What happens to stocks in times of high inflation will surprise you.
What will be the event? People think some big thing has to happen to make gold go up. Something that will happen on TV.
I took a few thousand dollars and put a gun on the passenger seat. I went to three gold dealers and not a single one of them had any gold bullion bars.
Silver has been trading weaker than gold in the past few months and retested its lows of last year recently while the silver stocks that mine for silver have simply sat there.
This is the most reliable single indicator when it comes to identifying the start of a new gold bull market.
He told me that his indicators are flashing signals for the broad market that have only happened three times in the past 17 years.