David Skarica: Gold To Test 2011 Highs, Look for Fall Breakout

David Skarica: Gold To Test 2011 Highs, Look for Fall Breakout
David discusses the volatility in the market and the reasons for a coming decline. A fight over the budget, tax cuts, or the debt ceiling could create further problems. The technical foundations of the market have been crumbling in recent months. Gold is doing well although a bigger rally has not happened since the general market has held up.

Gold stocks performed well in 2015/2016 due to the markets falling but have lagged in 2017. Investors are less inclined to put funds in gold and precious metal stocks when the markets are performing well. In 2003 gold really took off when the Fed began to cut rates so we are looking for that trigger event again.

For gold, there is resistance at 1350-1370 which needs to be broken however this gives you time to average in. Any fall in the market will be met with further liquidity in PM’s. We could have a very good gold market this spring. We could be back at 2011 highs surprisingly quickly if it breaks out this fall.

We’ve had a recent topping pattern in the dollar. The Fed is unlikely to raise rates and Europe looks like they will taper. We are at the 91/92 dollar support level if it heads below that we could be in the mid-80’s.

David discusses Walbridge (TSE:WM), Mexican Gold (CVE:MEX), and Triumph Gold (CVE:TIG). He discusses how each of them has some fantastic prospects and their future potential.
David Skarica: Gold To Test 2011 Highs, Look for Fall Breakout

8 thoughts on “David Skarica: Gold To Test 2011 Highs, Look for Fall Breakout”

  1. okay bitcoin boys i just had a 21 year old girl ask me what crypto currencies are best to mine, believe what you want to believe but all parabolic curves collapse ALL OF THEM!!!!

  2. At least Skarica doesn't seem to hate the bitcoin as much as Schiff and Jimmy Rickards…..

  3. Thank you Collin for keeping David to what he actually knows. I was about to stop listening about 5 minutes in (which was a first for a Palisade Radio interview) when David started talking about Bitcoin, which he is obviously not qualified to talk about. For information, I am both a precious metals investor and also invest (speculate!) significantly in the junior mining sector, but ALSO believe that Bitcoin and the blockchain / distributed ledger will have a huge role to play going forward.

  4. Hi Collin, ever thought about trying to get somebody like Lewis Black from Almonty Industries on to talk about Tungsten. I've been one of the few Weirdos obsessed with Tungsten for years. Now that the price has moved might be a good time to introduce your viewers to the Metal. Keep up the good work.

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