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It’s been a rough four years for Gold, as its declined around $700 (falling around 30%) from its high around $1,900 in 2011. Gold is “attempting” to change this trend!
The Power of the Pattern suggested in 2011 that Gold could be flat to down for years to come, due to a message coming from the Swiss Franc, that billions of free thinking people had created at the time. (see post here). At the same time this message was being sent from the Franc, GLD had become the largest ETF on the planet, making a crowded trade.
On Tuesday of this week I shared with Premium and Metals members that the Swiss Franc was poised for a rally and that it could send a positive message to Gold, the opposite of the message it sent 4-years ago.
If you would like to see why the Franc looked poised to move higher, send us an email to [email protected] and we will send you a complimentary copy of that report.
One month ago the Power of the Pattern shared with Metals members that it looked to be a good time to pick up GDX. Since that time, GDX has outperformed the S&P 500 by more than 25% in 30 days!
Joe Friday just the facts….Gold is attempting to break from a 3-year falling channel at (1) and the SPY/Gold ratio is attempting to do the same thing at (2). Gold and the SPY/Gold ratio need to move higher to prove that a trend change is actually in play!
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See Premium Membership details and sign up… HERE
See Metals Membership details and sign up info….HERE
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Shared with metals members on Tuesday the Franc was ready to move higher, due to a cluster of support. We shared this should be good for metals. Did NOT think it would blast off like it did. Metals members picked up $GDX three weeks ago, $GDX just had the biggest three week rally since it was founded. Wonder if some harvesting might be a good idea? 😉
Where is the swiss franc against that 40+ year trend line now?
https://www.kimblechartingsolutions.com/2011/09/swiss-franc-is-suggesting-gold-will-be-flat-to-down-for-years-to-come-different-this-time/