This is HUGE! I'm Changing my Entire Price Prediction for Gold & Silver After This - Chris Vermeulen

This is HUGE! I'm Changing my Entire Price Prediction for Gold & Silver After This - Chris Vermeulen

The current market analysis by Chris Vermeulen, a noted market trader, underscores the potential upside in gold and silver prices, leveraging Fibonacci retracement and extension levels to pinpoint possible future targets. According to Vermeulen, the gold market recently saw a rally with an estimated 10% upside from its current price, making gold miners a potentially lucrative investment.
As of the latest trading session, spot gold was priced at 2,411.36 dollars per ounce, reflecting a 1.45% increase on the session and a 2.18% rise over the week. Currently poised near crucial breakout levels, Gold will likely attempt to reach the 2,500 dollar mark. Vermeulen sets near-term targets for Gold around 2,580 dollars, potentially reaching 2,650 or even 2,740.
Silver, exhibiting notable volatility but maintaining an upward trend, also presents significant investment opportunities. Vermeulen's analysis indicates immediate price targets for silver between 33 and 34 dollars, potentially rising to 36 dollars. Silver miners, in particular, show signs of breakout behavior, signaling possible robust gains.
Complementing Vermeulen's perspective, Ole Hansen, Saxo Bank's Head of Commodity Strategy, describes 2024 as "the year of the metals." Hansen's Q2 outlook suggests ending the "hibernation" period for non-precious metals, implying a broader market uptrend. Hansen emphasizes the critical role of central bank policies in shaping the trajectories of gold and silver prices. The inverse relationship between real yields and precious metals and central banks' status as significant physical bullion buyers underscores this dynamic.
Silver's recent price action, reaching an intraday high of 29.73 dollars, is driven by its increased demand as a safe-haven asset amid global uncertainties. This bullish trend in silver aligns with Vermeulen’s assessment of significant upside potential.
According to market trader Chris Vermeulen, the short-term and long-term charts for Gold and silver indicate strong bullish potential, particularly for mining stocks. This optimistic outlook is supported by current market trends and technical indicators that continue attracting speculators to both precious metals' long sides.
In early U.S. trading on Friday, gold and silver prices have shown mild gains. Silver is nearing its three-year high, achieved in April, demonstrating robust upward momentum. As of the latest session, Gold reached 2,391.60 dollars per ounce, while silver stood at 29.965 dollars per ounce.
Beyond bullish technical charts, geopolitical risks, including military and trade conflicts, contribute to the demand for Gold and silver as safe-haven assets. The financial system faces multiple risks, such as issues in housing, commercial real estate, rising bankruptcies, potential banking system collapses, sovereign debt crises, and currency crises. These factors collectively enhance the attractiveness of precious metals for investors seeking stability amid uncertainty.
In this context, Vermeulen asserts that metals are expected to outperform the stock market in the near term, potentially over the next month or two.

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[mlangbert]

I don't see the value of technical analysis given the macroeconomic changes that have occurred, notably central bank buying by China and Turkey; increasing delivery of physical silver and gold from the LME and Comex, forcing the physical spot price onto the previously manipulated exchanges that are influenced by artificial short sales of rehypothected metal; public support for gold and silver purchases in China; and new buying by large speculators. Demand is increasingly coming from China, and US markets are quickly becoming secondary to PM prices, so past correlations with other assets may be becoming less important.

[SanjuKumar-sfqw]

My bull run picks: LINK, UNI, and SOL. Best presale? Hands down, Revux.

[johnhiggins]

As a metal collector I watch multiple streams on tube, I have come to the conclusion no one knows we’re the price is heading, it’s all guess work and click bait. The world has changed we’re are in the 21st century the examples of 1971, 1980 don’t mean shite. We’re was China and India in 71 a hell of a lot poorer than they are today. Just sit back and enjoy the ride purchase if you can. What will be will be.

[DEFIance]

Next week is going to be TA is not going to work well.

[GovidChadana]

Got an inside scoop on Revux – this project has major potential!

[mohammadmubashirmuba]

Consolidating my portfolio to focus on BTC and Revux, maybe a touch of LTC.

[SilverWong-yoiu]

Gold $2600, Silver $35 end of this week

[SilverWong-yoiu]

No consolidation for Gold if more bank failures.

[RinkuBaghel-toji]

Trust me, you need to jump on Revux ASAP!

[shawnb]

You seem to be riding Chrises interview from somewhere else …. Let him talk don’t interrupt him

[Hanuman]

If you’re into presales, Revux is a must-have. Early birds get the biggest worms!

[anitaparmar]

Who else thinks Revux will outperform XRP soon?

[ShivaShiva-krvx]

Moved all my funds into BTC and Revux. This presale is too good to pass up.

[stekoo]

Chris V?

Get atta here.

Is this clown still predicting Au to $1400 before the bull run?