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In last month’s update, I said I wouldn’t be surprised to see gold price at $1,500 before the year is up.
And it only took three weeks to get there.
Now, while there’s potential for some correction along the way, I have reason to believe the price of gold is aimed at $1,600.
But we’ll start with why gold is up $100 in the last month.
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Just 30 days ago, gold was still trading below $1,340, and yet gold bugs were enamored.
Today, there are many indications the price of gold is ready to soar well beyond the $1,400 mark.
Gold certainly could sense when the Fed was about to telegraph its potential return to easing through lower rates.
In the first half of June, the price of gold had already moved up by $60, or 4.7%, from $1,280 to $1,340.
Since then, gold has re-tested the $1,400 level as traders have been taking profits. What was once the ceiling for gold price is quickly becoming the floor.
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After a stretch of discouraging gold price action, the yellow metal got a dramatic jolt this week.
We've now reached the $1,300 mark, and the signs look hopeful prices could climb well beyond it soon.
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The price of gold has managed to churn a few stomachs in the past month, but the data makes these lows look more like the growing pains.
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The price of gold is going up, according to Money Morning Resource Specialist Peter Krauth.
He says the recent pullback in gold prices was actually a healthy indication they would rise again this year.
Here's what you can expect to gain from gold in 2019...
by Mike Stenger
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You may not have heard of it, but "augmented analytics" is going to be one of the best sectors for investing in 2019 and beyond.
This is a revolutionary application of artificial intelligence (AI) and its market is expected to grow from its current $4.6 billion to $18.4 billion by 2023.
That's 300% growth, for an entire industry, in just four years.
That's making AI stocks some of the hottest investments on the market right now.
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I've been telling you for a while that a pullback was not only normal, but healthy.
Now that the data is in, I'm going to show you why.
Gold has already printed a solid bounce back to $1,310 in just the last few days, strongly suggesting its correction has run its course.
With this in mind, there are big things ahead for the price of gold in 2019...
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The price of gold is now trading at an eight-month high.
Only one week ago, gold prices finally closed above $1,300 after multiple attempts to break through.
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Last week I made the case for gold prices finally finding their bottom, but the market would have nothing of it.
The pain wasn't over, as the resource space as a whole took a hit while the dollar rallied once again.
But what's hurt the price of gold over the last few weeks could be its next catalyst...
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Frankly, it's crazy.
By all accounts, gold has resumed its secular bull market after four and a half long, long years in correction mode.
The funny thing is… you wouldn't know it judging by the "mood" of the market.
Here's what I mean: The average American has, at least until very recently, given up on precious metals.
You couldn't even charitably call coin sales "mediocre."
January sales of U.S. Mint American Eagle gold coins were down 50.2% from the same month last year. Sales were halved, from 117,500 to 58,000. For all of 2017, full-year sales of silver and gold American Eagle coins hit their lowest levels in 10 years.
Gold stocks have fared even worse. And with major stock indexes trading near all-time highs, it's easy to see how gold may be losing its luster for mainstream investors. Sentiment is very negative as the miners have struggled to gain traction.
But those armed with facts, strong research, and foresight are able to see a tremendous opportunity forming in a small subsector of the gold market.
There's a rare anomaly taking shape at this very minute – one that offers incredible profits.
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