If a picture is worth a thousands words, my long-time friend Ron Griess recently sent me an epic story.
As readers of my Gold Newsletter service know well, Ron has been a key resource for investors everywhere for years through his website, TheChartStore.com.
Throughout the bull run in gold that began roughly at the dawn of this century, and during the correction that began after gold peaked over $1,900, Ron and his charts have helped us gain valuable insights into not only the metals markets, but also the economy, the growing U.S. debt and deficits, as well as commodities, currencies and all other major investment markets.
Frankly, I rely on Ron’s service more than any other source of technical data. In particular, his weekly Chart Blog compiles upward of 100 custom charts that provide a window into the economy and the markets that simply can’t be found anywhere else.
Ron publishes his Chart Blog every Sunday, and one of his recent editions featured seven particularly compelling charts relating to gold, silver and commodities in general. Taken in whole, they paint a picture of a potentially powerful rebound in the metals.
Building On The Fundamentals
Over the past couple of months, I’ve been chronicling the remarkable rebound in gold this year. Just the simple turning of the calendar into 2014 alleviated much of the selling pressure in gold, as year-end tax-loss selling abated and Asian buying continued to draw down Western gold supplies.
As the fundamental picture improved and the price began to slowly rise, the charts began to look better and better. And this, in turn, drew more technically-oriented investors into gold. The metal’s recent clearing of its 200-day moving average added rocket fuel to the mix.
Chart patterns change daily, of course, and the short-term picture is constantly shifting. But the following charts indicate that the long-term trends for gold and silver may be in the early stages of a major upward rebound. The notes on the charts tell the story, and I bring them to you now unedited and without further comment.
Except for one last recommendation: If you are reading this posting, then you are by definition a “serious” investor. And thus, you should consider subscribing to TheChartStore.
Now, without further ado...here are the charts that you and every gold and silver investor need to see...
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