Friends, this is a post meant for the long suffering SVL investors please . I started investing in PM sector since Sept 2016, investing mostly in NYSE /TSX exchanges, but also in a quite a few ASX stocks in the last many months. I subscribe to some good advisors, one of whom I trust a lot he being more of a friend rather than an advisor to me ( he is an EW expert over last two decades ) .He is one of the reasons for me to get into PM sector , when he told me about the bottom in gold at USD 1050 in 2016 and said both gold and silver ( even more than gold ) will be in a multi years mega bull run from then on. I was just exchanging notes with him on email today , his firm conviction as on date as follows
Gold may have one or two downswings to test USD 1200 range may be over next few weeks. But some point later in this year it will break out violently, target is USD 1800/1900 with in one year from now , it will be a ride without resistances ( all the earlier supports from 2011 down onward will not act as resistances now as per the triangle in the chart ) . As per EW rules , the Wave 3 which has to start now has a potential ( kindly note the word potential , which means it can very well fall short to USD 5000/5500/ 6000 ) to hit USD 7800 per ounce over next ten years or may be much earlier ( Wave 3 being the fastest in EW , leaves investors stranded as they feel afraid to get into a vertical rise like this Wave 3 ), which means this target can be hit even in six to eight years from now . The time frame is not predictable here please note, but when the potential target is USD 7800 we can safely say we may hit USD 5000/5500/6600 to fall short of the potential target.
Reg silver he does not have back data for last three decades to do a proper analysis , he is collecting them, but he is very clear that the gold silver ratio will fall a lot and silver will go up disproportionately compared to gold. As soon as I hear from him I will update on this.
Kindly note I was also a silver bear for many years , used to make wild fun of gold and silver bugs all the time till 2016.But now time has come now for gold bugs and more importantly silver bugs to keep the faith and just hang on.The riches are not far off now folks.
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