Just a quick update, it’s a great day for gold, up almost $19 – with the February 2017 futures contract trading at roughly $1,159.40 – and starting to nicely follow the AI forecast.
The next important resistance level and buy signal is $1,167.90. If gold can get above that on a daily closing basis, as noted in my previous issue, it should then be off to the races, with a potential rally to the $1,220 level.
I doubt we will see that before New Year’s. But I like the action. I also like the fact that crude oil is rolling over, starting to at least, and so is the Dow Industrials.
Meanwhile, bonds are starting to lift their heads a tad, good for the bullish position I recommended in TMF.
Talk to you right after the new year.
And have a healthy, happy and wealthy one …
Best wishes, as always …
And stay tuned …
Larry
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