Celente – The Gold Bull Run Will Continue To Run
Last week, we talked about gold’s pullback as a result of positive sentiment between US/China trade negotiations. But, according to Celente, these relations will only deteriorate rather than improve and with the European Central Bank introducing QE starting Nov 1, Celente believes this will only continue to drive gold prices higher:
…as it happened before, negative/zero interest rate policy, quantitative easing bond buying, lowering reserve requirement ratios – plus new rounds of fiscal stimulus from nations across the globe and whatever new cheap-money-injection schemes central banksters will invent – are fundamentals that will push gold prices higher… How fast it runs depends on how much cheap money – and how quickly – the central banksters inject into the economic/financial system.
A Strong Trend Line Support Is Already In Play For Gold
Stewart Thompson says investors need to keep an open mind and remember that since the rally began in the $1170 area, corrections have not lasted very long. Although gold has pulled back to $1500, there’s a strong trend line support already in play:
It’s possible that the $1500 area is now a support rather than resistance, and gold is set to rally towards the $1600 – $1700 area.
Gold Rises Above US$1500 Despite Stronger US Dollar & Stocks
In bull markets, most surprises are on the upside making this week’s spike in gold a pleasant one!
Gold is telling us not to get too excited about upcoming trade talks and today’s ECB meeting. Back above $1500/oz despite near new highs in US stocks, higher bond yields, lower FOMC rate cut expectations and light ETF selling.
