I Lost Money in Gold...but Here's Why I Think We're on a Massive Turnaround!
Of all the popular investments, gold (and silver) has been the most frustrating. Although the fundamentals are sound -- largely, that governments are running on a course of unsustainable fiat expansion -- the actual profitability has lagged. Those that did not get in prior to the 2011 commodities spike are familiar with this ongoing frustration.
On top of that, we hear from gold proponents that a recovery is imminent. But year after year of the same message without the payoff, even hardened precious metal investors have difficulty stomaching the losses. No matter how many times we convince ourselves that we are physical-rich and paper-poor, the reality is that being more judicious on the paper would have led to more physical gains.
Nevertheless, I believe that we're on the verge of something extraordinary in gold and bullion markets. I noticed that gold is forming a bullish pennant formation, a reliable indicator in the discipline of technical analysis. Furthermore, silver and the precious metal mining complex are all signaling this very same pattern.
Remarkably, this pennant is occurring within the context of an even larger pennant -- one that has been forming since the onset of the Great Recession! Such massive technical indicators imply an immense rally that only comes about once in a generation.
I wish you luck with gold.
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Thanks, I always enjoy getting a message from you guys! :)
The pennant will resolve in one way or another before the end of the year, so we'll see what happens!
There's so much proof that the markets are manipulated... I just keep at it ;)
We are long overdue a run, cryptocurrency joined the club. I see a golden cross on the 5 year chart, 50/200 week and a successful test of the 200 week average. I'm ready!
Awesome! I can't wait for the gold markets to bounce back up! :)
Always be bullish on Gold for the longterm. Its the ultimate inflation hedge. Cryptos are proving to be a good option as well to diversify into. Buy it all.
Cheers
I too believe that the prices have to go up. But as I write in my daily blogs, it is not going to be an exponential rise (though it can, because of geopolitical situations). I would much rather have a steady rise then choppy sharp rise. I am following you. Please check my blog https://steemit.com/silver/@ajain/silver-prices-to-go-higher-analysis-on-dow-silver-ratio where I break it down the expectations around the silver prices by this year end.
I am following you now.
After reading your crust the street article, I think my blog https://steemit.com/gold/@ajain/gold-and-silver-to-get-decoupled-from-price-fixing-soon-moonshot-coming will definitely fancy your attention. Very similar thought process.
People need to have some conviction as well as a plan to go forward. I just wrote this which is along the same lines and complements as your article. https://steemit.com/money/@motowngold/do-not-sell-your-gold-for-bitcoin-do-diversify
You make a good point. gold has been frustrating, however I think it will skyrocket in the near future, along with all precious metals.