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Jim Wyckoff

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Gold market bulls hit the accelerator, more upside likely

July 1, 2020 by Jim Wyckoff

Gold prices this week have hit an 8.5-year high, on technical buying based on very bullish charts that got even more bullish this week—suggesting still more (likely much more) upside price potential to come, including new record highs. Underlying bullish fundamentals in the gold and silver markets include safe-haven demand due to the Covid-19 pandemic that appears to be getting worse instead of better and also further damaging global economies. Also, it appears traders and investors are realizing the massive infusion of central banks’ easy money into the world financial markets the past few months will create serious problems down the road—namely problematic inflation. Metals are a historical hedge from inflation.–Stay tuned! Jim

Filed Under: Blog News, Jim's Morning Report, Uncategorized

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