GOLD IS SHINING BRIGHT
On January 5th, premium subscribers were sent this post. It's worth re-reading
Introduction:
On January 5th, premium subscribers were sent this post. Goldfix readers know we are not in the habit of publishing technical analysis with a bias. Those type of report usually lend themselves to advertising click bait type promotions.
But when a technician as experienced as this guy comes out with an update on an opinion, it made us pay attention. We read his works before, and saw his analysis as objective and sound, if not fancy. Leon is the type of guy we would follow around like a guppy hanging on his every word. We’d put him up there with Art Cashin and those types. He certainly has a better track record than his contemporaries.
The analysis is as relevant as ever and he includes his favorite metals stocks. His intermediate target as discussed in Founders meetings and in premium posts is $2200.
Yes we are aware that talking about Gold going up can be a jinx short term. But the problems that markets are discounting now are not just acute. They are also structural and chronic. This is a long way from over
Enjoy
Originally Published January 5th, 2022
About
Leon Tuey is a noted yet under the radar commodity technician from back in the day who knows his trade. Two weeks ago his report noted that Gold, Oil, and Copper were on the cusp of resuming bull trends. On January 2nd he put an updated report out. Gold had triggered his buy signal.
Please note his approach to playing his own analysis may be different than yours. And he is not infallible. What he does is handicap good risk/reward plays. For us, his methodology is solid, his critical thinking consistent over the years, and his enthusiasm always tempered. He is in short, the kind of guy we used to ask questions of on the trading floor. To add: He is also heavily into Mining and other resource stocks.
GOLD IS SHINING BRIGHT
Correction Is Over and the Secular Bull Market Has Resumed
In my December 22 report, “Copper. Gold, & Oil”, I felt that Gold was ready to take flight again. Despite its seeming lack of progress, gold has been showing signs of accumulation. Moreover, as shown in the table below, January is the best month for gold as it gained an average of 2.06% for the past 29 years. Also, as shown below, gold’s technical structure continues to improve and is poised to break its 2020 – 2021 downtrend. Technical indications strongly suggest that the correction is over and the secular bull market has resumed.