$2800 & $3300 Targets In Play

Stewart Thomson
email: stewart@galacticupdates.com
email: admin@galacticjuniors.com
email: admin@galacticswinger.com

Aug 20, 2024

1. Gold is the world’s greatest cash (money). For amateurs, setting target prices is most important. Pros simply want to identify price zones where they can eagerly buy more.
   
   
2. I’ll lay out these key zones today, and spice it with exciting comments on silver and the mining stocks, but first I’d like investors to look at some of the “backstage lighting” currently shining brightly for gold.
   
   
3. On that note, please click here now. Double-click to enlarge. The double bottom pattern on oil is failing. It’s being overwhelmed by a H&S bear continuation pattern with a $60 target.
   
   
4. If the Fed needs a reason to cut rates, the fading global growth showcased by oil is certainly it. In the West, most gold pays no interest and a cut (or cuts!) in rates would get these gold bugs very excited.
   
   
5. Please click here now. Double-click to enlarge this US rates chart. The H&S top action is ominous. It suggests a dangerous black stock market swan may be in the air.
   
   
6. For a look at the dollar index, please click here now. Double-click to enlarge. The price action is decidedly bearish. A rectangle is consolidating the downtrend and within it there is H&S bear continuation action.  
   
   
7. Also, please click here now. Double-click to enlarge. I asked investors to watch for a bull flag for the “fiat safe haven” yen against the dollar, and now it’s here.
   
   
8. That flag is itself the right shoulder of an incredibly bullish inverse H&S pattern. 
   
   
9. The US stock market often gyrates in August before crashing in September or October. The action of US rates, oil, and the dollar all suggest this crash scenario could be in the cards in the weeks ahead.
   
   
10. It’s unknown what the black swan catalyst will be, but it likely involves US debt in some way.
    
    
11. Please click here now. In the East, gold jewellery demand is surging in India while demand for coins and bars is on the rise in China. 
    
    
12. This is bright background lighting for gold, which is already the greatest actor on the global markets stage!
    
    
13. Please click click here now. Double-click to enlarge. In the short term, there is inverse H&S action all over this gold chart. It’s outrageously bullish and…
    
    
14. Please click here now. Double-click to enlarge this weekly chart. The bull flag target is $2800, and the massive inverse H&S patterns targets a price well above that, at $3300!
    
    
15. A daily focus on the big picture (fundamental, cyclical, and technical) is critical for investors as inflation, recession, the 2021-2025 war cycle, a wildly overvalued stock market, debt ceiling horror, and empire transition dominate the investing landscape. I cover this big picture 5-6 times a week in my flagship Galactic Updates newsletter. At $199/year, investors feel the price is too low, but I’m offering a $179/15mths “special offer” that investors can use to get in on the winning action and meticulous analysis. Click this link to get the offer or send me an email and I’ll get you a payment link. Thanks!
    
    
16. In the long-term, price targets aren’t that important but buy zones are. On that note, please click here now. Aggressive investors should prep to buy the $2480 zone. It's solid support.
    
    
17. Conservative players should seek $100+/oz sales in the price, and they can begin to look at $2430 as their buy zone as the price moves towards the $2530 area.
    
    
18. A pause is likely at $2530, but it’s probably going to be followed by a rush towards $2800.
    
    
19. Investors who are new to ultimate money gold should buy a grub stake now, and it’s wise to include a bit of silver and mining stocks too.
    
    
20. For a look at the silver price action, please click here now. Double-click to enlarge this monthly chart. The bullish action is magnificent!
    
    
21. Note the bull hammer candlestick within the flag pattern. Silver may be poised to stun the naysayers and begin a rise to new all-time highs. It likely plays out over 12-24 months and that new high would bring in a lot of money managers who seek outperformance.
    
    
22. Please click here now. Double-click to enlarge. From the highs on this chart, gold stocks are down about 75% against gold. This is not a time to issue a top call. It’s a time to accumulate the miners, and to do it with tactical precision.
    
    
23. For a look at the GDX daily chart, please click here now. Double-click to enlarge. GDX looks to be making a beeline towards $40, which would correspond with $2530 for gold.
    
    
24. From there, a light pullback to the buy zone of $37.50 (and gold $2480 or $2430) is likely to occur. By late 2025, GDX should be not only at all-time highs, but it could be the most-loved ETF in the world. Many gold stock investors have waited patiently for this scenario to happen, and now their time in the limelight is here!

Thanks!

Cheers
st

Aug 20, 2024
Stewart Thomson
Graceland Updates
website: www.gracelandupdates.com
email for questions: stewart@gracelandupdates.com
email to request the free reports: freereports@galacticupdates.com

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