JNUG: Bye Bears: JNUG to $130.00
Gold is finally gearing up for its 'true bull run'. What we saw this year was a premature run based off USA-China trade, however now, we will start to see the real bull in the making.
A re-test of 155-1560 is very likely before between late January and early February with new multiple year records thereafter.
2020 will be a fantastic year for Gold , Silver and Platinum.
Don't forget about Platinum! PPLT (etf: bullion) and Impala Platinum ( IMPUY ) are the top Platinum picks.
- Palladium: 2400-2500
- Gold: 1750-1800
- Platinum - 1250-1400
- Silver: 23-24
Look for the trend to reverse as early as after the Fed meeting or anytime in early February where the next leg up begins.
1) Gold as a commodity rose unexpectedly and as a result many investors and big money won’t put buys in until next week. In this case it’ll take a few more days for them to rally if this move was legitimate.
2) Gold may have gotten ahead of itself and Gold May come down to the 1530 level early next week before rising up again to new “yearly” highs.
My estimate is on the former rather than the latter and I expect JNUG and Gold stocks to rally next week although 2) is still somewhat possible.
Sounds superficial but it happens all the time. Which is why energy stocks didn’t rally with oil today or they rallied and faded.