Worth a read.https://www.streetwisereports.com/article/2023/10/16/a-great-start-to-the-next-60-year-cycle-for-gold.htmlA Great Start to the Next 60 Year Cycle for Gold
Contributed OpinionKEY POINTS
Gold up US$64 to US$1932Closed near the highsGold in other currencies regained parabolasStarting next 60-year cycleSoon to test previous highsThis is a Wave 3Short covering should be very strongGold stocks up 4.5%Important cyclical low in placeExpect 100% returns over next 12 monthsASX Gold stocks ready to break higherFlag formed for RHSLeaders to leadNSTEVNDEGBGLBuy high-leverage playsRRLWGXDEGCYLNVASPRPNRAUCAUTBC8ICLSXGSNGLGMTRMFG1BGDOBMTOK Tolu Minerals IPOClosing Friday, October 30Link to prospectusAs you know from these commentaries, the gold market has been through a lot over the last few years.
Gold is now no longer driven by the US$ or interest rates. Everyone needs to understand that this is the beginning of something very big.So, it is that vast stock of gold that influences the price.
And gold prices in most currencies have continued in their parabolic rises.
Who and for what reason? We can only speculate, but it has been very obvious.
The buying that is likely to come in at US$2100 is very large.
Heading higher for much of the next 60 years!
The sentiment levels in North America, as has been shown here so often, are equally abysmal, and so all this draws you to one simple conclusion. The marketplace is considerably underweight in gold and gold stocks.The Voice Referendum in Australia has been fascinating.
It really did show the incompetent leadership on so many levels.
Incompetent Leadership
And they clearly do not know better.
Let there be an audit of this charade and of the whole guilt industry.
Gold will be helping change all that. Sound money is the key. It has to come.
It doesn't really matter how you look at it all; gold stocks are extremely cheap compared to gold.
This price jump has brought gold back above the trend lines and parabolas in most currencies.
And probably a very weak currency.
The recovery in gold in Yen has been achieved.
Gold Stocks
This index stopped at the downtrend line.
This week, we will see this broken.
The sentiment in the gold market has been in the cellar.
This is just another cyclical low, but where we go this time, I think, will be very different.
A very important buy signal was given here.
And so much is here to remind us of that false breakdown at the end of the 2011-2016 bear market.
The recoveries from those lows were spectacular.
So here in Australia the gold price recovered back into the parabola.
And the XGD Gold Index is still looking technically very exciting.
A flag pattern has developed on the RHS that should see a 17% gain to the `neckline' at 7700.
And then a run to 12,000 fairly quickly.
The bigger stocks are looking good, but these smaller ones are really ready to go.
These are the MPS preferred universe of bigger gold stocks.
Focus on revenue/market cap for a measure of leverage.
Look at market cap/oz for annual production.
NSTEVNBGLDEGDEGRRLWGXCYLNVAPerformances vs. XGD Gold Index
About to lead the market higher stillIt should also outperformRRL - will they close out the hedges this week?
Very big outperformance comingCommencing gold production this QtrGrades will far exceed DFSDEG – Funds raised and moving to construction
Exploration continuing outside HemiAt the bottom of the rangeRerating continuingWGX is coming together very nicely.
Output rising, costs being cut, cash building and exploration pushingTime for massive reratingNVA – 10moz and getting better
Gold for AU$5/ozBig outperformance comingHead the markets, not the commentators.
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