| | | | Is Gold Primed for $5K? Here’s Why the Rally is Just Beginning
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Now, with the recent flurry of activity coming out of China, there’s no doubt that something big is happening in the gold market.
For weeks now, there’s been a mystery buyer snapping up 400-ounce bars of gold in London, and no one knows exactly where they’re going or who’s behind it.
But here’s what we do know: China has been printing money like it’s going out of style — pumping five trillion yuan into the system. And what are investors doing with it?
They’re putting it into stocks and, more interestingly, gold. This isn’t just a few contracts here and there. We’re talking about physical gold — tangible, untraceable, and once it’s out of sight, it’s gone.
And it doesn’t stop there...
As Chinese investors pile into gold, we’re also seeing an opportunity in silver that’s hard to ignore. Silver’s setup right now is looking spicy, and I don’t say that lightly.
We’ve already made a higher high, and it’s pulling back in a textbook pattern that resembles a classic “echo” — a repeating move we’ve seen time and again in silver.
If we follow through on this, we could see a serious rally, pushing us into the $33 to $40 range (per ounce).
Now, this might sound bold, but if you look at the patterns, each pullback has set up another leg higher, and if this echo plays out as it has before, we’re potentially staring at a massive opportunity.
For a long time, I’ve been saying silver could hit $40, and I stand by that. And with the current macroeconomic conditions, things are lining up to make that happen.
Gold, on the other hand, is already well on its way...
We’ve been flirting with $3,000, and I wouldn’t be surprised if we blow right past that in a blink. The next target for gold could easily be in the $4,200 to $5,000 range. And I know, those numbers seem wild with gold just shy of $2,700 right now, but the technicals back it up.
We’ve already started the correction that could propel us higher, and with the kind of demand we’re seeing out of China, the upside is massive.
Look, this is no time to be sitting on your hands.
We’ve got a rare alignment of both fundamental and technical factors in play right now. Gold and silver are setting up for what could be a historic rally, and it’s not just noise...
The patterns are clear, and the global demand is real. Keep an eye on both, because the next few months could be a wild ride for these metals.
If you want to learn exactly how I’m trading it, join me at 1 p.m. ET on Wednesday, Oct. 2, and I’ll break my plan down.
I’ll even share my No. 1 ticker with everyone in attendance!
Jeffry Turnmire
Jeffry Turnmire Trading
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*This is for informational and educational purposes only. There is an inherent risk in trading, so trade at your own risk. | | | | |
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