To 321gold home page

Home   Links   Editorials

Gold: A Correction Of Significance?

Stewart Thomson
email: stewart@galacticupdates.com
email: admin@galacticjuniors.com
email: admin@galacticswinger.com

Sep 10, 2024

  1. Are investors taking “All the news is in” events seriously?

  2. This week’s CPI and PPI inflation reports are likely dovish, and the only real debate now amongst stock and gold market analysts is whether next week’s key Fed meet brings a 25bp or 50bp cut.

  3. It’s possible that the market’s heavy hitters feel, as I do, that the good rate cutting news is mostly priced into both gold and mainstream stocks. 

  4. Please click here now. Double-click to enlarge. On the one hand, many investors have been on a silly mission to make “big fiat profits”, instead of a mission to get more superior money gold. Many are beginning to realize the folly of their scheme.

  5. On the other hand, gold doesn’t move in a straight line. If most of the good news is already priced in, a correction of significance becomes more likely each day.

  6. Please click here now. Double-click to enlarge this important weekly gold chart. A large non-confirmation of RSI with the price is now in play.

  7. Stochastics is also significantly overbought. The rally can continue into the Fed meet, but after that many gold bugs may find their favourite miners are running on all the news is in fumes.

  8. Please click here now. Double-click to enlarge this yen versus dollar chart. There could be a final burst above 70.50 (and maybe not), but the dollar looks ready to show some strength.

  9. For a look at the DXY dollar index chart, please click here now. Double-click to enlarge. This chart is incredibly bearish… but a rally for the dollar is likely before the next big leg down begins.

  10. To view the weekly chart, please click here now. Double-click to enlarge. Note the dramatically oversold state of the key 14,5,5 series Stochastics oscillator. A flatline event could occur, but a rise is much more likely.

  11. Please click here now. Tariff taxes will increase de-dollarization in the long term, and they could help crash the stock market.

  12. In the short-term though, just the threat of these hideous taxes can create some “re-dollarization”.

  13. In the past, US “Gmen” (politicians) were happy to see US corporations use Asian workers as de facto slaves. Some of the workers killed themselves and most became miserable because of the barbaric working conditions they were forced to endure.  

  14. Now their wages are rising. Asian companies are multiplying like rabbits and producing many more goods at much lower cost than their US counterparts.  

  15. The Asian population is about ten times that of the United States. It’s not a case of Asia being better. It’s just bigger. US Gmen (both democrats and republicans) refuse to face the reality of this situation and are trying to force re-dollarization with goon squad tactics… 

  16. Tactics that ultimately will help create a global rush into gold. Tariff taxes as a scheme to fix fundamentally flawed fiat are like a band trying out a new song on the Titanic’s deck… after the ship crashes into an iceberg.  

  17. In the big picture, these tariff taxes are less worrying than a fly for gold and…

  18. The good news is that I expect the coming “correction of significance” for gold to be very short lived.  

  19. It likely ends in a matter of weeks, not months or years, and from the low a surge towards $3000 should be the next order of gold bull era business! 

  20. Tariff taxes are just one small part of the big markets picture I cover 5-6 times a week in my flagship Galactic Updates newsletter. At $199/year, investors feel the price is too low, but I’m offering a $179/15mths “special offer” that investors can use to get in on the winning action and meticulous analysis. Click this link to get the offer or send me an email and I’ll get you a payment link. Thanks!

  21. Please click here now. Double-click to enlarge this GDX daily chart. As with gold, a negative RSI divergence with price is in play. 

  22. A head and shoulders top pattern may be forming and could “bear fruit” around the September 18 Fed meet. For a look at the weekly chart, please click here now. Double-click to enlarge. From the recent highs, GDX has pulled back about 10% while gold eased about 2%.
  1. A dip to the $32 area would be a rough 20% price sale for GDX and a lot of senior and intermediate producers.  

  2. Please click here now. Double-click to enlarge this daily futures chart for gold. A pullback to $32 for GDX that is accompanied with a dip to $2450 for gold could become one of the greatest buying opportunities in the history of gold stocks!

Thanks!

Cheers
st

Sep 10, 2024
Stewart Thomson
Graceland Updates
website: www.gracelandupdates.com
email for questions: stewart@gracelandupdates.com
email to request the free reports: freereports@galacticupdates.com

Tuesday 1st Oct 2024
Special Offer for 321gold readers
: Send an email to freereports@galacticupdates.com and I'll send you my free “Sizzling Silver & Golden Rockets!” report. I highlight key GDXJ component stocks that are poised to soar spectacularly as GDX and GDXJ begin their generational upside breakouts! Solid investor tactics are included in the report.

Graceland Updates Subscription Service: Note we are privacy oriented. We accept cheques. And credit cards thru PayPal only on our website. For your protection we don't see your credit card information. Only PayPal does.

Subscribe via major credit cards at Graceland Updates - or make checks payable to: "Stewart Thomson" Mail to: Stewart Thomson / 1276 Lakeview Drive / Oakville, Ontario L6H 2M8 / Canada

Stewart Thomson is a retired Merrill Lynch broker. Stewart writes the Graceland Updates daily between 4am-7am. They are sent out around 8am. The newsletter is attractively priced and the format is a unique numbered point form; giving clarity to each point and saving valuable reading time.

Risks, Disclaimers, Legal
Stewart Thomson is no longer an investment advisor. The information provided by Stewart and Graceland Updates is for general information purposes only. Before taking any action on any investment, it is imperative that you consult with multiple properly licensed, experienced and qualifed investment advisors and get numerous opinions before taking any action. Your minimum risk on any investment in the world is 100% loss of all your money. You may be taking or preparing to take leveraged positions in investments and not know it, exposing yourself to unlimited risks. This is highly concerning if you are an investor in any derivatives products. There is an approx $700 trillion OTC Derivatives Iceberg with a tiny portion written off officially. The bottom line:

Are You Prepared?

321gold Ltd