Jan 6th 2019, The Midas Touch Gold Model

The Midas Touch Gold Model™ – in bullish mode!

The Midas Touch Gold Model™ as of January 5th, 2019

The Midas Touch Gold Model™ as of January 5th, 2019

Gold posted a strong rally over the last six weeks while stock markets were plunging worldwide. Our Midas Touch Gold Model™ anticipated this wave up since mid of November already. Since then the model is in bull mode and continues to be so.

Even though, Gold might have reached a short-term peak at 1,298 USD last Friday and might now start reacting back towards its 200 MA around 1,250 USD, the bullish signals strongly outweigh the bearish ones. Most of them might even survive the expected pullback in the gold market.

Especially bullish is the buy signal that come from the famous Dow/Jones-Ratio. For the first time since many years this ratio now favors gold instead of stocks in the mid- to long-term timeframe.  Technically the weekly chart for Gold will remain bullish until gold falls below 1,230 USD.

The only caveat comes from a slightly too optimistic sentiment numbers and the now positive US real interest rate.

Overall the Midas Touch Gold Model™ remains bullish and indicates a generally strong precious metals sector into early springtime. After the necessary short-term correction into the buy zone around 1,235 – 1,250 USD, gold might therefore start another attack towards 1,300 USD during February.

By | 2019-01-06T20:44:43+00:00 January 6th, 2019|Tags: , , , , , |0 Comments

About the Author:

Florian Grummes is an independent financial analyst, advisor, consultant, trader & investor as well as an international speaker with more than 20 years of experience in financial markets. He is specialized in precious metals, cryptocurrencies and technical analysis. He writes a bi-weekly in-depth gold and silver analysis for one of Germany´s largest gold and silver retailer the „pro aurum“ group. As well he is publishing a bi-weekly comprehensive gold & bitcoin analysis for his numerous international readers. He is well known for combining technical, fundamental and sentiment analysis into one accurate conclusion about the gold market.


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