Is Gold Still on Track?

Source: Barry Dawes 10/02/2024

Barry Dawes of Martin Place Securities explains why he thinks gold is still on track but could pull back to the uptrend.

There is so much happening in the world now that the prospects of a wonderful 2025 seem to get better each day. It is so often only through crisis that the necessary changes are made. The gold price keeps rising as everyone in the world keeps buying because the real value of gold is again being recognized.

Keep in mind that the 60-year cycle ended last year, so we have a long way to go yet. A new Gold Standard is being accomplished not by politicians and bureaucrats but by the general market.

Gold is still on track but could pull back to the uptrend.

It is still on track here.

Gold stocks are a bit overbought at this important 165 resistance level.

Head the markets, not the commentators.

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