Saturday 23 March 2024

Gold stocks ready to move

The FED at the March 2024 FOMC suggested that this rate hiking cycle has peaked.
image1


Chart 1 - Interest rates may have peaked for this cycle. This is important as precious metals need to know higher rates are over and are likely on the way down. 


TNX



Chart 2 - HUI to GOLD ratio. Shows extreme undervaluation of gold stocks to the gold metal. Confirmed by the current cycle low. 


HUI





Chart 3 - Japanese Yen suggests a weaker US dollar is expected in the months ahead. 


FXY



 Chart 4 - The long term Dow daily cycle looks ready to extend. Gold stocks require the wider stock market to rise at the same time. 


DOW





Chart 5 - Junior gold stocks Richard Wyckoff bottom accumulation looks fantastic and ready to explode higher.


GDXJ



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