Grande Portage Resources Ltd. V.GPG

Whats the future look like for gold/gpg?

[Teakbois]

Certainly things have gotten rather hot and the price moves in the explorers have been outstanding. Chartwise much is in the overbought category. But as I said in a previous post, short term I am expecting an extended move, or a sideways correction at worst. Also expect more bankster attacks on gold/silver which do nothing more than slow the ascent! Its 2000 plus to make this summer really hot! 

Keep this in mind.......Relative to the prices of gold and silver, the mining stocks are still extraordinarily undervalued. In 2011 when gold peaked at $1900, the HUI index was trading over 600. It just recently crossed over 300.

https://news.goldseek.com/GoldSeek/1594292774.php


If you want a alternate scenario, you can read gold permabear Przemysaw Radomski column who thinks gold is going to correct down to 1400!! And this is going to happen as the dollar continues to  drop?

https://www.fxempire.com/forecasts/article/the-remarkable-gold-index-sign-vs-the-miners-strength-660166


Przemysaw RadomskiPrzemysaw RadomskiPrzemysaw RadomskiPrzemysaw Radomski

[Teakbois]

MORE......with this mornings sell off in everything.....most of the mining stocks off between 4%-9% and GPG off 6%.  So far the volume to the downside has been subdued. There has been just one price correction during this run from 40 cents. If a more serious corrrection occurs, which IMO will only happen if gold leads the way down, the downside is near .52.  So looking at the gold chart

[SixBottle]

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[Teakbois]

I think it may happen in the next 3 weeks. Depends on how negative the views get on the economy. If the major averages take a big hit, it could hold things up. 

[flash338]

This bull is still snorting and hoofing at the ground

[Teakbois]

After I posted this I realized I neglected to address the most important contribution to this Gold Rally......the US$! With gold at $1475 on Mar 20, the dollar began declining off hits high of 102. That number is now 96.76 as it caught a little rally today. The dollar has major support at 95-94. Minor support at 96. Should the dollar continue its descent down to 95-94, gold will continue to

[Teakbois]

The dollar has been falling nonstop and is now sitting below support at 93.98 at 0100 Monday morning. It has been unable to mount any kind of rally or support and looks like it may just freefall to 90. Gold was up $40 dollars an hour ago and has backed off a little bit and is now up $33. Volume has dropped off in the last hour and a half, which is normal for this time of night. Price has been

[flash338]

I think we are staring at the "Wall of Worry"...