Hi, Adam Hewison here. I've just finished a new movie on gold and I would like to share it with you. This new video shows what may happen to gold in the next one to three months. There's a lot of potential in this market, but there also is potential risk involved. The good news is that risk can be managed with stops and potential target zones can be measured through chart patterns.
I hope you enjoyed the video I made on 7/09/08 (well before today's big jump in gold) to illustrate that sometimes the markets tip you off to what they're going to do next.
With all the financial turmoil in today's troubled world, it seems like gold may be the only store of value that everyone's going to turn to in the very near future. Many of the European banks have not fessed up to all of their investing/trading problems and I expect that this could well be the other shoe that falls.
On 7/10/08, our "Trade Triangle" technology signaled a new buy for the spot gold market. Watch the video and I'll show you exactly how high we think this market could go in the future.
As always, we welcome your comments and thoughts on the markets.
8 thoughts on “Is GOLD the last store of value on the planet?”
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The sky is falling, chicken little is dancing with cats, and 'nearly' everyone is thinking that worse news in the financial markets is yet to come. Truth is, US mortgage assets have now been overly discounted. The gov now backing Freddy and Fanny is your bottom signal. Earnings will consistantly beat overly negative speculation, the US Dollar will rally, and the Dow will climb above 11,400 by Friday. Enjoy the ride up.
Another David! Yes, I enjoyed the video tutorial too. The graphics are very clear and the ability to look at the picture on a weekly and daily basis is very helpful.
The "triangle" looks to be a good indicator and I would be interested to learn more about its methodology.
The video is well done. Thanks! There is a huge reverse H&S pattern on the multi-year monthly chart of the XAU. I started tracking it several years ago and it's still holding the classic pattern. 1020 here we come.
A government bailout of Fannie and Freddie Mac means gold is good for at least $1200 or more.
Take a look at the TNX or TYX today and see bond yields rise as the equities tanks. Even the credit worthiness of the USA in question!
Nothing in the economy was ever fixed since gold's March high. Gold was always destined to climb much much higher and will continue to perform for many years.
The inverse H&S in gold has actually been forming for a few weeks.
Terrific video, Adam... How many of us have gone over and over charts, and MISSED the most reliable pattern out there? (I've got my hand up here).
With regards to the attached poll as to the future value of the DOW, it is useful to keep in mind that the DOW is priced in USD.
While it may maintain high numerical values they would be meaningless if the US dollar index (DX) were to drop to around 50, as I expect.
In keeping with the theme of the blog, "how many ounces of gold to buy the DOW" would have been a better question.
My answer 2.
Gold always seems to be the safe haven in times of uncertainty, whether it is the expectation of rising inflation, a global pandemic or imminent military conflict.
Just look back at the charts and see how gold moved during the Soviet invasion of Afghanistan in 1979. Investors are not sure what impact such events will have on the global financial system so they pour into perceived value and security.
I would not be surprised to see a strong move in gold over the coming months because of the rising tension between Iran and Israel over the Iranian nuclear enrichment program.
There is also the ongoing concerns about the collapse in the US dollar and the inflationary implications, given the Fed's reluctance to raise interest rates.
So rising inflationary pressure and possible conflict in the Middle East, with the oil choke point in the Straits of Hormuz being threatened with closure, will likely send both gold and Nymex light, crude oil even higher going forward.
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