Barry Dawes of Martin Place Securities shares his thoughts on the current state of gold, silver, nickel, cobalt, and palladium and explains why he believes silver is breaking out and palladium is ready to skyrocket.
Gold makes another new closing high in US$, and much higher prices are coming.
Gold is surging in all major currencies.
Silver is breaking out, and palladium is readying to rocket higher
Key Points
Gold
- Another new high
- Strong in all currencies
Gold Stocks
- More catch-up rally
- Another few percent before pause
- But heading much higher
Silver
Palladium
- Ready to rocket higher
- Strong on all time frames
Nickel
Gold
Volatility is returning after a very quiet period.
This is a very powerful move after the 4-year consolidation in the box.
The parabolic moves are very clear in gold in most currencies.
This is a vertical move.
In clear air to head higher.
Big break out here against rallying bond prices.
Silver
Silver is looking good here now.
And the big picture is for a very strong move out of this parabolic pattern.
XAU has moved nicely out of that wedge.
The first stop will be 117 with a breather and then to 130.
It will go much higher, but let’s wait and see.
ASX Gold Stocks
Rally to 7700 underway, then much higher.
Bonds
- Yields still heading lower
- Gapped lower
Palladium
Good on every time frame.
Nickel
Breaking out.
Head the markets, not the commentators.
Important Disclosures:
- Statements and opinions expressed are the opinions of the author and not of Streetwise Reports, Street Smart, or their officers. The author is wholly responsible for the accuracy of the statements. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Any disclosures from the author can be found below. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
- This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
For additional disclosures, please click here.
