As I pointed out last week – gold is poised to explode higher.
And there are plenty of other forces getting ready to light a fire under its price.
Just last Friday, internet users around the world, but mostly in the U.S., reported that some top websites were not loading. This was from a massive cyber-attack on one of the main hubs for internet traffic on the east coast, bringing down several websites. Some of the affected sites include Amazon, Twitter, Netflix, Etsy, GitHub, and Spotify.
The purpose of this type of attack is to overload the service in any way possible and make it stop working or be unreachable. That basically means hackers are overwhelming the servers with useless data and repeated load requests, preventing useful data — like an IP address, for example — from getting through.
The attacks seem to have been well planned and executed, coming from tens of millions of IP addresses at the same time. So far, no group has taken credit for the attack yet.
Earlier this month, software code designed to wage attacks by hacking the internet of things was released. Clearly, attacks like these are going to be more and more common.
So, why didn’t gold explode higher on Friday during the attack?
| “So, why didn’t gold explode higher on Friday during the attack?” |
Because every market dances to its own rhythm.
The fact is sometimes gold will react to news and sometimes it won’t. Each market on the planet has its unique signature, if you will, or cycles, and that’s what matters. Not the day-to-day. Overall, my AI model points much higher for gold heading into year-end.
The dollar and gold can and do rise together. I’ve been telling everyone that and have been right. So stay away from the dollar/gold thing. Most analysts are dead wrong about it. The best bull markets in gold occur with a rising dollar.
What about the aggressive moves Putin is making in Eastern Europe and Syria? Gold usually surges during times of war and political uncertainty. But as of yet, gold hasn’t been concerned.
Gold (and other precious metals) will rise according to their own unique rhythms. The good news is, they should soon start rallying strongly. Here’s the latest Artificial Intelligence model I work with and its forecast for gold. It’s the kind of thing my trading service members get all the time, but with specific buy and sell signals as well, timed with my model.
Best wishes,
Larry
