• 147 days Could Crypto Overtake Traditional Investment?
  • 152 days Americans Still Quitting Jobs At Record Pace
  • 154 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 157 days Is The Dollar Too Strong?
  • 157 days Big Tech Disappoints Investors on Earnings Calls
  • 158 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 160 days China Is Quietly Trying To Distance Itself From Russia
  • 160 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 164 days Crypto Investors Won Big In 2021
  • 164 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 165 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 167 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 168 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 171 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 172 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 172 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 174 days Are NFTs About To Take Over Gaming?
  • 175 days Europe’s Economy Is On The Brink As Putin’s War Escalates
  • 178 days What’s Causing Inflation In The United States?
  • 179 days Intel Joins Russian Exodus as Chip Shortage Digs In
Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

  1. Home
  2. Markets
  3. Other

Trump Is Gold Rally Accelerant

Graceland Updates 4am-7am
Jan 24, 2017

  1. The 2017 gold market rally continues nicely, with a current pause at light overhead resistance in the $1215 - $1220 area.

  2. Please click here: http://www.graceland-updates.com/images/stories/17jan/2017jan24gold1.png Double-click to enlarge this daily bars gold chart.

  3. Note the flat lining action of the 14,7,7 Stochastics oscillator at the bottom of the chart. That's quite positive, and opens the door to a further move towards my $1245 target price area.

  4. Please click here: http://www.graceland-updates.com/images/stories/17jan/2017jan24trump1.png Donald Trump is likely to be a positive catalyst for higher gold prices, for many reasons.

  5. On the geopolitical front, the South Sea island building by China looks like it could quickly become a major gold price driver.

  6. Trump has also been very clear about his goal of slowing US corporate outsourcing of labour to foreign countries.

  7. This is quite inflationary and could end up creating a bit of an earnings quagmire.

  8. Please click here: http://www.graceland-updates.com/images/stories/17jan/2017jan24usd1.png Double-click to enlarge this daily bars US dollar versus Japanese yen chart.

  9. It's true that US bond market yields have risen a bit, but Trump's dollar-negative statements are overwhelming the rise and putting downwards pressure on the dollar against both the yen and gold.

  10. Gold has stopped rising at $1215 - $1220 at the same time as the dollar has stopped falling at 112.50 against the yen.

  11. All Western gold community eyes should be focused on that 112.50 dollar versus yen price. If the dollar falls below that support, it should send gold through $1220, and on towards $1245.

  12. Many gold analysts have been trying to call an end to the current rally, and have been negative since the December lows. In contrast, I would argue that the rally is poised to accelerate.

  13. I don't think these analysts really grasp the tremendous influence that Trump and his team can have on the value of the dollar against key currencies like the yuan and the yen.

  14. Please click here: http://www.graceland-updates.com/images/stories/17jan/2017jan24usd2.png Double-click to enlarge this daily bars chart of the dollar versus the Swiss franc.

  15. The dollar is beginning to look like a train wreck on this chart. It's broken down from a head and shoulder top pattern just as Trump has been inaugurated!

  16. When push comes to shove, the US Treasury has vastly more power than the central bank wields, and the Treasury has legal authority to devalue the dollar. The Fed has no such authority.

  17. Janet Yellen's recent negative statements about Trump's stimulus policies will fall on deaf ears, and may create a backlash.

  18. Janet would not fare very well in a confrontation with Trump. I expect future statements from her about US government policy to become quite timid as she begins to realize how determined Mr. Trump is to lower the value of the dollar.

  19. Please click here: http://www.graceland-updates.com/images/stories/17jan/2017jan24gdx1.png GDX is breaking out of a small ascending triangle, and making a beeline towards my $25 target zone.

  20. Technically, GDX looks superb now. The green downtrend line is now support, as is the horizontal resistance at $22.50!

  21. The bottom line is that the traffic light is turning green for most gold stocks, while President Trump turns it red for the dollar.

  22. Please click here: http://www.graceland-updates.com/images/stories/17jan/2017jan24kgc1.png Double-click to enlarge this Kinross daily bars chart.

  23. It's blasting upwards from an inverse head and shoulders pattern at a key support zone. Investors can book some light profits near the $4.22 price zone, and use my unique pyramid generator to do so systematically.

  24. Donald "The Golden Trumpster" Trump may or may not make debt-soaked America great (he likely won't), but he's almost certainly going to make gold ownership a great investment during his presidency. I will dare to suggest it's time for the Western gold community to throw a bit of caution to the wind, and sit back and enjoy this gold price rally. This is a rally that seems poised to accelerate in quite a shocking way, as the Golden Trumpster makes one dollar-negative move after another!

Thanks!
Cheers
St

 


Special Offer For Website Readers: Please send me an Email to freereports4@gracelandupdates.com and I'll send you my free "Gold & Yellowcakes" report. I highlight 4 gold stocks and 4 uranium stocks that are flashing momentum buy signals right now, with key buy and sell tactics for each stock!

 

Back to homepage

Leave a comment

Leave a comment