The Case for $5,000 Gold and $200 Silver

Market Rundown

Dec 27, 2022

∙ Paid

Market Rundown
JC Parets Says Gold to $5,000 is not a problem
G.S Stock Factor Barometer

Market Rundown:

Good Morning. The dollar is down 19. Bonds are slightly weaker with the backs weakest ( uninverting aka steepening). Stocks are up betwee n25 adn 55 bps. Gold is up $13 at the edge of the teens once again. Silver is up 42 cents (1.75%) like its nothing. Oil is “only” up 68 cents. Nat Gas is up 11c. Grains are up between 85 and 180 bps. Crypto is weak, down about 75bps.

Todays behavior can and will be attributed to China reopening in no small part.

8:30 am 	Trade in goods, advance report 	Nov. 	-$99.0 billion
9 am 	S&P Case-Shiller U.S. home price index (SAAR) 	Oct.-8.7%
9 am 	FHFA U.S. home price index (SAAR) 	Oct. 		-- 0.9%

Comment: All-Star’s Gold Report

Today we have a public report by All-Star Charts. Background: JC Parets, the owner of All-Star has a rep for being negative on Gold. In fact, as TA haters, we followed him in our old account and when he made an opinionated comment on anything as if he was trading it, we asked him very specific things to understand his rationales and his risk/reward parameters. And every time we troll/tested him, he gave the right answer. So we stopped harassing him Conclusion: He didn’t hate gold, he hated Gold’s chart was our conclusion. So, in that sense, he was agnostic and just wanted to make money. That’s a good thing

We concluded back then he was not a hater of Gold. He was a technical trader who was bearish Gold. We also understood he was a businessman who knows its harder to “sell” a bear case in any asset broadly than it is to convey a bull case in a different asset. Maybe we are wrong about that last part, but it certainly makes sense.

Anyway: When a chartist puts his own reputation on the line, (like the Late Great Leon Tuey used to) by telling you he has trades on, you have to give it a read. Anyone who reads GoldFix knows we have a relationship with Michael Moor based on decades of profitable collaboration in trades. Note that Michael also recently turned very macro bullish Gold about a month ago using different technical tools.

Know for right now: We are not speculatively long gold or silver having exited longs last week. We don’t mind being a little late to this party and are waiting for buy season to end.

So as not to cheat All-Star’s marketing out since we downloaded the free report by signing up and you do not have to, we’d encourage you to do the same. https://allstarcharts.com/contact/. We have no relationship with All-Star.

We are also not telling you to buy Gold because he is. In fact we are telling you that this time of year a lot of Gold research from banks is just marketing chum for their flow traders to front run. So given that, we are reading this and looking for what makes him wrong…. We already know why he is right don’t we? And he doesn’t own a bank.

One other thing: we are splitting our content for active traders to another tab very soon. Guys like Moor, Parets, and Tradersumo are some of the few technicians whose objectivity we trust and will look at more for subscribers. The Active Trader tab is being built out to that end.

We provide, you decide