- Gold above US$2800 again
- Likely to head to US$3,000 in March Qtr
- Technical break outs by gold in many currencies
- Gold stocks finally showing some life
- ASX XGD ready to challenge 10,000
- Gold stocks to outperform gold after 16 years downtrend
- Gold breaking upward vs S&P500
- Gold stocks ready to follow
KEY POINTS
GOLD
• Gold through US$2800
• Parabolic journey still intact
• US$3,000 soon
• Gold in other currencies making strong moves
GOLD STOCKS
• Leading stocks making new highs
• XAU ready to test 165 again
• Then much higher
• 16 year decline against gold coming to an end
• Breakout coming
• Breakout against stocks coming soon
ASX GOLD SECTOR
• A$4520/oz gold pushes earnings
• ASX XGD close to 10,000
• 16 year decline of XGD vs A$ gold now turning up
• Some excitement at last
It is wonderful to watch gold moving higher and on its way to US$3,000 and beyond.
But it hasn’t been too wonderful watching gold stocks only meandering along and falling as much as rising.
When will true market reality take over from this current fake reality?
Hopefully quite soon.
US$ gold is running nicely in this small scale parabola and should be accelerating soon.
US$ gold is heading higher with a longer term parabola and gold in other currencies is showing an even stronger set of technical.
Gold in A$ is showing that extra surge and we will soon be talking about A$5,000/oz.
This break out by the XAU is a very good sign and is likely to accelerate quite quickly.
Some of the major gold producers have been slow but market leader growth stocks are already making new highs.
While we have been wondering about the lack of follow through for so many stocks here it seems that the market place is finally waking up elsewhere.
Gold is now moving higher against the S&P500 and it is not because of a market crash.
And very soon there will be a sharp move higher of gold stocks against general stocks.
This coming move could be quite violent.
So gold stocks are now ready to break upwards against gold bullion.
So in Australia we have the XGD Gold Index heading up to 10,000 again and ready to make a strong break.
In the time this has been heading higher from the lows in 2014 A$ gold has risen far more.
So the net effect is a 16 year decline in ASX XGD Gold Index vs A$gold.
The turn is now underway.
Some excitement is coming!
