Fast & Furious
As the month of June and the end of the second quarter and first half of 2022 draws to a close tomorrow, we are on the cusp of an explosive rally in the precious metals. In a comment on another’s post recently, I mentioned that the gold chart was compressed with the 50 day mvg avg. coming down and getting very close to the 200 day mvg avg. This is setting the stage for a major upside move that I described as being “fast and furious” leading to reaching my three target levels in fairly short order. 1900, 2000 and before too long, 2100 and a new ATH. It looks like the 50 day will reach the 200 day in the next few days. The gold price should pause for a day or two at those levels but any surprises should come on the upside and any expectations that a significant amount of resistance will occur there, should melt away rather quickly, as the hot knife (gold price)cuts right thru the butter (both mvg. avgs.)
would it be a good time to buy some gold maple leafs?
Absolutely. While it is almost always a good time to convert fiat into physical gold, this is a particularly good time. If you are able to do so, don’t wait. Friday begins July.
A quip from the man today !
*POWELL: WE UNDERSTAND BETTER HOW LITTLE WE UNDERSTAND INFLATION