The Midas Touch Gold Model – Update 2nd of July 2017

Our Midas Touch Gold Model remains in neutral/sideways mode.

New buy signals are coming from “Gold Seasonality”, “SPDR Gold Trust Holdings” and the “US-Dollar Daily Chart” while new sell signals have appeared @ “Ratio Gold/Commodities” and “Gold in $, €, £ & ¥”.
Note that it doesn’t take much for gold to turn the whole model bullish. Currently a push above 1,253 USD would shift the daily charts for Gold in US-Dollar, Indian Rupe and Chinese Yuan to a clear buy signal and the Model would issue a bullish conclusion!!!

Another very strong contrarian signal comes from the weekly “Kitco Gold Survey”. “Main Street Not This Bearish In Nearly Two Years” says it all.. I continue to believe that gold is going to start its rally towards 1,500 USD within the next days or maximum 4-6 weeks…

And finally wheat has been exploding over the last two trading days… That could quickly spark inflation expectations.. Remember the best investment in that type of scenario will be silver!!!

In the bigger picture gold is running into the apex of a huge triangle pattern. The breakout will happen soon – probably until mid of August. Generally a triangle can break either to the up- or downside but I am pretty sure that gold will finally push through the six-year downtrend line and start the long awaited run towards 1,500 USD in the second half of 2017.

By | 2017-09-20T19:31:20+00:00 July 2nd, 2017|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 is publishing weekly gold, silver & cryptocurrency analysis for his numerous international readers. He is also running a large telegram Channel and a Crypto Signal Service. Florian is well known for combining technical, fundamental and sentiment analysis into one accurate conclusion about the markets. Since April 2019 he is chief editor of the cashkurs-gold newsletter focusing on gold and silver mining stocks. Besides all that, Florian is a music producer and composer. Since more than 25 years he has been professionally creating, writing & producing more than 300 songs. He is also running is own record label Cryon Music & Art Productions. His artist name is Florzinho.

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