Many might have seen the price and wondered if they’ve missed the boat. We would argue the boat is very much still in the dock, but be prepared for some choppy months ahead.
The question will still revolve around whether the market can take out the 4607.07 high before we break down below the 4537 SPX low struck this past week.
Gold climbed to the highest since May as the dollar weakened ahead of Treasury auctions that are expected to indicate whether the U.S. bond market is set for a meaningful revival.
A big story of the week was gold making all-time highs. Yes finally it took out (barely so far) the high of 2020. Gold, silver and the gold stocks enjoyed a good week. More to come. Got gold?
Quite a ride for gold last week - $32 higher on Friday! That's powerful. It got as high as $2,095. So you got a $2,100 market in gold. We are back up to $2,071 on a monthly basis.
Fears of widening of Israel-Hamas war after an attack on American warship and a commercial vessel in the Red Sea is why gold and silver zoomed in early Asian morning or pre-Japan opening.
Our initial projected endpoint is...$2,234.50. We expect higher prices over the next number of weeks...Our current projected endpoint for the end of wave .v. and wave -iii- is: $2,531.10!
