Gold at $2,600 and Silver Looking Very Strong

Source: Barry Dawes 09/23/2024

Barry Dawes of Martin Place Securities shares his optimistic thoughts on gold and silver.

This bull market is now building up some momentum. It is building up to that US$100 intraday RISE. Everyone is buying gold now — China, central banks, India.

India cut its import duty on gold from 15% to 6% this month, so gold in India just became a lot cheaper.

Gold stocks have broken their 13-year downtrend and are making new 28-month highs. They should begin to really accelerate now.

Despite all the commentators talking about a weakening US$ I have yet to see anything constructively bullish in the major currencies.

• The Euro is still lower than a year ago.

• The yen is falling again.

• The pound is trying but should roll over this week (who would even want to go there now?)

• Swiss franc has peaked

• Chinese Yuan made a 15-month low.

Gold is the new real currency after the US$ (and AU$, of course!).

This looks ready to surge.

It keeps going higher and higher.

US$2,800 here we come.

As for silver, it is about to surge.

Head the markets, not the commentators.

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