We will start with a passage from my long-form research 2024 Outlook:
For last year’s Outlook I wrote, “Perhaps our biggest callout for a major rally in 2023 is in gold.”
Here we are over $2000 and although gold has not doubled in price, it did rise by 25%.
For 2024, we stay with our call for higher gold prices. I am looking for a move to $2400 provided gold continues to hold $1980.
That statement was from December 1st.
Adding to that statement:
Trends for 2024-gold and silver start their last hurrah.
Here are some updated thoughts to add to the great content of the Outlook (which we highly recommend you get your free copy of)
More…
The look of the daily charts in both gold and silver show even more potential in silver for the coming year.
Gold has hit resistance and remains an underperformer to SPY.
Gold sits still at the highs like a quiet blanket of safety.
Silver has yet to hit resistance.
If it can take out 23.40, we see no reason why 27-30 is not attainable.
Regardless, have a look at the Outlook to understand more fully why these metals need to be a part of your investing plan.
Click the link below to get your free copy of the Outlook 2024 and stay in the loop!
Twitter: @marketminute
The author may have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author and do not represent the views or opinions of any other person or entity.
