Editorials

Gold’s big breakout was last year.    It exploded through resistance at $2,100/oz, out of its super-bullish cup and handle pattern, and touched $2,800/oz.   The measured upside target remains $3,000/oz with a logarithmic target of $4,000/oz. The past cup and handle pattern breakouts I studied went from the measured upside target to the … Continue reading

It has been a good year for precious metals but not a great one as the leveraged side has underperformed. Gold has gained 28% yet has outperformed Silver and the gold and silver stocks which are up less than 20% on the year.    With the stock market still in a secular bull market, there … Continue reading

Gold’s break out of a 13-year cup and handle pattern is likely the start of a new secular bull market.   However, as we wrote last week, a new secular bull market in the entire precious metals sector cannot begin until Gold breaks out against the conventional 60/40 investment portfolio.   Some are concerned … Continue reading

I have been writing about this since 2015.   Gold must outperform the stock market to be in a secular bull market.   A few years ago, I modified the concept to include Bonds. Gold must outperform the conventional 60/40 investment portfolio (60% Stocks, 40% Bonds) to be in a secular bull market.   … Continue reading

Gold broke out from a 13-year cup and handle pattern earlier this year to a new all-time high and advanced to $2800/oz.   Silver broke out from 4-year resistance and recently reached an 11-year high, touching $35/oz.   However, the ongoing secular bull market in US Stocks and the emerging bubble in cryptocurrency have … Continue reading

Earlier this year, Gold broke out of its cup-and-handle pattern and made its biggest breakout in 50 years.   It has steadily climbed higher but could be experiencing its first notable post-breakout correction.    There were three other instances in the last half century when Gold broke to a new all-time high.   The … Continue reading

There have been quite a few breakouts this year in precious metals.   None have been bigger or more significant than Gold breaking out of its 13-year cup and handle pattern and clearing $2100/oz easily.   Although it is overbought and could pause or correct, it remains bullish and on track for its $3,000/oz … Continue reading

Gold and Silver broke out again late last week.    Gold closed above $2700 last Thursday, and Silver followed Gold’s breakout with one of its own.    Last Friday, Silver closed above $33, surpassing resistance at $32.50, which had held Silver since the middle of May. The breakout from a rough inverted head-and-shoulders continuation … Continue reading

Last week, we wrote about the big-picture technicals in Gold and Silver, employing quarterly and monthly charts.   Gold is overbought, but history suggests it can become even more overbought. Meanwhile, Silver made its highest monthly and weekly close in 11 years.   Both metals have room to move before stiff resistance sets in. … Continue reading

For technical analysts, the end of September means fresh monthly and quarterly charts.   Our entire world is focused on the short term at the expense of the long term. As such, monthly and quarterly charts are rare.   However, they are very important as they beautifully illustrate long-term trends.   Sometimes, they provide … Continue reading

Under the global fiat currency regime, there have been two secular bull markets in precious metals: 1970 to 1980 and 2001 to 2011.   The gains in the 1970s were far more dramatic than in the 2000s.   Using daily closing prices, Gold surged 2300% in the 1970s against only 648% in the 2000s, … Continue reading

As the stock market sold off, gold mining stocks pulled back from resistance, and Silver fell below the critical $29/oz level. Growing recessionary fears, stock market weakness, and the specter of the 2008 Boogeyman pressured the sector lower.   That was all she wrote.    The sector has quickly recovered and could be poised … Continue reading