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Gold: Seasonals & The Jobs Report


 -- Published: Tuesday, 3 March 2015 | Print  | Disqus 

Graceland Updates

By Stewart Thomson

 

1.    From a seasonal perspective, gold tends to be a bit weak from late February until the end of the first or second week in March.  I see nothing out of the ordinary with goldís current price action.

2.    Please click here now.  Thatís a seasonal chart for gold, courtesy of Dimitri Speck.

3.    Note the black arrow that I put on the chart.  Also, the US Employment Situation report is scheduled for release on Friday, and gold has a tendency to often decline going into that report, and then rally nicely for several weeks after the report is released.

4.    Investors in the global gold community should be steady buyers in March, in anticipation of the rally!

5.    Please click here now.  Thatís the daily gold chart.  Iím looking for a two day close over $1217, to ignite a rally towards $1252.

6.    Note the buy signal that is flashing now, on the key 14,7,7 Stochastics series at the bottom of the chart.  Itís normal for the price to gyrate a bit as a fresh signal is generated, and thatís happening now.

7.    Many economists appear to be unaware that most of goldís seasonal price action is dictated by events in the Indian and Chinese jewellery markets.  Thatís logical, since itís where the most tonnage changes hands. 

8.    Key religious and cultural events in China and India often produce enormous surges in demand that completely overwhelm supply. 

9.    I think the technical situation Iíve highlighted on my daily chart fits nicely with the current seasonal action in those key markets.

10. On that note, please click here now.  The next big event for gold is the Indian wedding season and the key Akshaya Tritiya (Akha Teej) religious event on April 21.

11. Indians are essentially mandated by the Hindu religion to buy significant amounts of gold in the period leading up to Akha Teej.  That buying should help create a nice leg higher, in Western mining stocks!

12. Itís unfortunate that there are no dates on the Western calendar where citizens eagerly race to buy gold, to celebrate life.  

13. Regardless, gold stocks do look set to rally further, so please click here now.  Thatís the GDX daily chart, and it looks superb.

14. After rallying in late December, from the $17 area to above $23, GDX has been consolidating, in a drifting bullish rectangle pattern.

15. Note the beautiful 14,7,7 Stochastics series buy signal now in play at the bottom of the chart.  Gold stocks tend to lead gold bullion, and I expect the traditional April rally in gold to be preceded by a rally in GDX.

16. Please click here now.  Thatís the GDXJ daily chart.  Iím looking for a two day close over $27 to reinvigorate the rally.

17. GDXJ is also close to breaking out to the upside, above a significant downtrend line.  Junior gold and silver stock enthusiasts should be eager buyers in the current price area!

18. Please click here now.  This daily silver chart looks spectacular.  The bullish wedge pattern has a really nice shape to it.  The more aesthetic a price pattern is, the more reliable it tends to be, and this is a particularly good one.

19. Silver should easily outperform gold, if the April rally proceeds in its normal seasonal fashion.

20. Please click here now.  The new London gold fix launch is just a few weeks away, and it will bring substantial and much-needed transparency to the global price discovery process. 

21. One of Chinaís banks is already the worldís largest gold retail bank, and its entry in the London market should enhance that powerful position, which is great news for the entire global gold community.

22. Please click here now.  Stan Druckenmiller is an influential hedge fund manager.  Heís concerned that a delay in raising rates could result in a stock market crash, which is something that Alan Greenspan has also talked about.  My suggestion is to avoid the US market for now, but to buy it if there is a crash, which seems more and more likely as time progresses. 

23. Please click here now.  Apple has a major news conference scheduled for March 9, about its special new watch.  The Wall Street Journal has stated that while the standard watch will sell for about $350 - $500, a special gold watch will sell for about $5000, and may contain as much as two ounces of gold in it. 

24. JP Morgan has predicted Apple will sell about 25 million of the standard watches in 2015, and the Journal suggests that the company has plans to build a million gold watches a month, and sell them in Asia.  On March 9, the world will likely learn more about what the actual gold content of each watch is, and that time period is roughly when gold makes its March seasonal low.  If the Journalís statements are even partially correct, the demand from Apple could be the catalyst that ignites the greatest gold market rally in a number of years!

 

Special Offer For Website Readers: Please send me an Email to freereports4@gracelandupdates.com and Iíll send you my free ďGold Declines, But Juniors Soar Anyways!Ē report.  More and more gold stocks are staging nice price moves to the upside, while bullion languishes.  Iíll show the top five that Iím focused on now, with clear buy and sell points!

 

Thanks!

 Cheers

 st

 

Stewart Thomson 

Graceland Updates

 

Note: We are privacy oriented.  We accept cheques.  And credit cards thru PayPal only on our website.  For your protection.  We donít see your credit card information.  Only PayPal does.  They pay us.  Minus their fee.  PayPal is a highly reputable company.  Owned by Ebay.  With about 160 million accounts worldwide.

 

Written between 4am-7am.  5-6 issues per week.  Emailed at aprox 9am daily.

 

www.gracelandupdates.com   

www.gracelandjuniors.com  

www.gutrader.com   

 

Email: stewart@gracelandupdates.com  

Or: stewart@gutrader.com  

 

 

Rate Sheet (us funds):

Lifetime: $799

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To pay by cheque, make cheque payable to ďStewart ThomsonĒ

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-9am. The newsletter is attractively priced and the format is a unique numbered point form.  Giving clarity of 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 qualified 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?

 


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 -- Published: Tuesday, 3 March 2015 | E-Mail  | Print  | Source: GoldSeek.com

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