Gold move coming
Hello everyone, today we continue to see major cap companies and semiconductor sell off. I expect some kind of bounce soon, but that is what it is, a bounce. After that I do expect correction may continue.
Tomorrow is the FOMC meeting report. Get ready for a major move coming for gold, silver, and miners. Gold prices have been moving up slowly month after month and recently stalled hitting resistance at 2450 and since trading in 2300 range. Today gold had a nice bounce and is now at 2400 again. I expect to see gold breaking out above 2500 soon on FOMC interest rate cut outlook and a real strong move with the first interest rate cut in September. I remain very bullish on gold and expect gold will be near 3000 by year end. Please note, this is a long tetm investment for me holding for next 2 years. Any price pull backs are accumulation opportunities for me. I have been DCA accumulating gold and gold miners shares for the last 12 months already and will continue to DCA in. Most people are ignoring this space and are under invested in gold. I expect to see large influx of investments coming back to this space in the next several months as market corrections continue and weaker dollars due to US national debts going out of control. Stay tuned and good luck.
Happy investing everyone!
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Retailers must include gold in their portfolio during rate cut cycle and economic slowdown. Consider NEM, GDX, GLD, GDXJ
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