Why You Stay Long Gold Now

In an article I wrote for my subscribers in my monthly newsletter, I showed why Michael Oliver says you should stay long gold now.

The gold charts put out that week by Michael Oliver illustrate his work very well. The top chart is a weekly price chart. The bottom chart is a long-term momentum chart showing weekly ranges vs. 40-week averages. If you are a subscriber to Michael’s work you will recognize this as textbook Michael Oliver. More importantly, if you are a regular subscriber to Michael, you will realize that most often he is ahead of most price chart analysts, getting investors in at a lower price and out at a higher price. What I like about his work is that with confidence, I can look at the momentum chart below and know, based on the fact that his momentum chart has broken through not one, but three key levels, that we can rest easy knowing that gold is in a solid bull market. It may decline a bit next week but the pressure is on the upside and once we get through $1,355 or $1,360 we should enjoy a hasty ride to $1,400.

 I am really excited about the prospects for gold this year and none other than legendary gold share investor and co-founder of Franco Nevada, Pierre Lassonde, supported my optimism on my radio show recently as he explained why he is so excited about the upside for gold in 2019. There are so many companies I cover in my newsletter that have enormous upside prospects this year… And there are a number of companies that appear to be asleep that could surprise greatly to the upside once gold breaks through $1,360. Stay tuned!