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Gold’s Next Move


 -- Published: Tuesday, 6 January 2015 | Print  | Disqus 

When we wrote last, see here, http://news.goldseek.com/GoldSeek/1416319200.php gold was in a bullish broadening wedge. A breakout from that wedge is now imminent. 

 

Gold in Euros has built a multi-year base and is moving higher.

 

 

 

And Gold in everyone’s favorite currency the yen is without question very bullish as well.

 

 

So, why now and what gives? I believe equities have reached their greater fool limit. The economies around the globe are in dire shape. The US economic numbers are fiction and oil has crashed. There is simply no way that equities can disconnect from a horrific global economy forever, especially in the face of sky high PE ratios.

Look for GDX to outperform gold on this move but in the long run, until bond yields start to move aggressively higher, the money is in the metal as ounces in the ground simply aren’t worth as much with a complete lack of contango.

It’s a Mystery

 


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 -- Published: Tuesday, 6 January 2015 | E-Mail  | Print  | Source: GoldSeek.com

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