GOLD ON WAY TO $3000 — STOCK MARKET BULLS SHOULD CONSIDER IT AS INSURANCE $GLD $DJIA
This article is in response to questions after I predicted gold was on its way to $3,000 an ounce.
Gold has risen above $2,000 for the first time since the prediction. Gold, in addition to being an investment by itself and a substitute for fiat currencies, should also be considered by stock market investors as insurance. Let’s explore this with the help of a chart.
Chart
Please click here for an annotated chart of gold ETF GLD.
Note the following:
• From a technical perspective, gold has broken out.
• Gold has broken out after a very long base, as shown on the chart.
August 6, 2020