Gold Stocks Heading Lower?
Barry Dawes of Martin Place Securities shares his thoughts on the gold market.
Gold is holding on but it should have a big fall in the expected C wave that should take it down to or below US$3,000.
It has been a great run, so profit taking has been appropriate amongst those stocks with large built-in gains.
Note that volumes at the highs are large and now represent overhangs.
Broken parabola likely to break channel line:
Testing 179 but heading to 165:
ASX Gold Index
Peaked at 13,132 on 22 AprilNow 11276Heading back to test the previous highs at ~10,000.Still 10% downside in this C wave.XGD 2018-2025:
US Bonds
Yields are still lower than a month ago.
And lower than 18 months ago.
Another island reversal?
Yields have been falling for >18 months.
US Boom in 2026.
Larry Kudlow and Newt Gingrich are talking here.
It's worth watching!
Nice move higher, but gap needs to be filled at some stage:
Uptrends are strong:
Head the markets!
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