gold-forecast-–-cycles-support-a-september-breakdown

Gold Forecast – Cycles Support a September Breakdown

Metals and miners continue to consolidate ahead of Friday’s employment report. Our cycle work supports a breakdown in gold below $1900 and a subsequent buying opportunity.

2019 Metal Recap, I noted how record low gold eagle coin sales likely signaled a shift from record low demand to record high demand over the next decade. That forecast was timely as fear gripped the markets 3-months later, and coin sales skyrocketed.” data-reactid=”13″ type=”text”>In my 2019 Metal Recap, I noted how record low gold eagle coin sales likely signaled a shift from record low demand to record high demand over the next decade. That forecast was timely as fear gripped the markets 3-months later, and coin sales skyrocketed.

Now I am beginning to think shortages and inadequate supply could send premiums on certain coins to unbelievable heights. For example, I believe 1-ounce silver eagles could fetch double the spot price, and possibly much higher as acquiring physical coins becomes difficult.

Current Gold Forecast

Gold is consolidating in a B-wave triangle formation. Prices should break below $1900 in September and drop into the next 6-month low.” data-reactid=”20″ type=”text”>–GOLDGold is consolidating in a B-wave triangle formation. Prices should break below $1900 in September and drop into the next 6-month low.

View photos

Silver needs to break below $26.00 to trigger the decline phase of the intermediate-degree correction. Initial support arrives at $22.50 – and below that $19.00.” data-reactid=”37″ type=”text”>–SILVERSilver needs to break below $26.00 to trigger the decline phase of the intermediate-degree correction. Initial support arrives at $22.50 – and below that $19.00.

View photos

View photos

View photos

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top