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Gold Price Forecast Target Of $1700 By March
AG Thorson

January 22, 2020
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Precious metals and miners are consolidating before their next advance. Gold prices could reach $1700+ by March, and we see explosive potential in silver.

Mid-cycle consolidations are normal and part of every cycle. After rallying more than $165 from the November low, gold is taking a well-deserved breather. Bullish sentiment is waning, and the next advance should carry the uptrend into March.

GOLD
Gold is in the midst of a natural mid-cycle consolidation. Once complete, gold prices should extend to the March target box and approximately $1700.



SILVER
The current setup in silver is favorable and similar to that of last July. Prices should stabilize over the next few days and commence the next leg higher. Our forecast calls for an accelerated advance that exceeds the 2016 high of $21.25.



GDX
Despite lower gold and silver prices yesterday, miners rallied, closing 1.83% higher. A positive sign indicating miners should lead the next advance.



GDXJ
The junior mining ETF is nearing a potential breakout above $43.00. It could see outsized returns into March if silver prices spike above $21.00 as expected.



Our precious metals and mining forecast expects a bullish surge into February and March. Our system is long NUGT and USLV.