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« MAJOR ALERT: This Mega Breakout Threatens To Rock Global Markets | Main | The Gold Worm on the Yuan Hook »

The Coming Gold Breakout


By Jim Rickards

Gold is one of the best performing asset classes of 2017, but it has faced headwinds over the past few weeks based on market expectations that the Fed will raise rates in December. This expectation has caused a set of market movements, including a stronger dollar and weaker gold prices.

But as I’ve argued before, my view is that the economy is fundamentally weak and the Fed will not raise rates in December. I base that on nine months of disinflation data (using the Fed’s preferred measure, not alternate measures that market analysts flock to) and on a weakening employment picture including job losses in September for the first time in seven years.

Once the market wakes up to the real state of play, probably in late November or early December, the current trends will suddenly reverse. You’ll see the dollar down and gold prices up.

That makes the next few weeks an excellent entry point for gold and gold mining stocks. You have a chance to take advantage of weakness and position ahead of the rally to come when the Fed tips its hand.

Gold seems poised to resume its march to $1,350 and then $1,400.

The physical fundamentals are stronger than ever for gold. Russia and China continue to be huge buyers. China bans export of its 450 tons per year of physical production.


Well gold looks certain to break one way or the other at this point...

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