Huge GOLD News From Central Banks! It'll Be INCREDIBLY MASSIVE for Gold & Silver - Michael Oliver

Huge GOLD News From Central Banks! It'll Be INCREDIBLY MASSIVE for Gold & Silver - Michael Oliver

The yellow metal has forged meteoric gains this year, emerging as the world's second-best-performing asset. Gold prices are expected to continue rising in 2024, with the prospect of reaching new highs in the second half of 2024 as central banks ease monetary policy and geopolitical tensions escalate.
Michael Oliver is a leading technical analyst renowned for innovating Momentum Structural Analysis. In March, gold, silver, and mining stocks broke out above their annual momentum levels, leading to a significant rise in prices. If historical patterns hold, gold could experience extraordinary growth, reaching 8,000 dollars per ounce.
While reflecting on the market, Michael observes that recent momentum shifts have pushed bonds higher while the dollar has dropped below key levels. Similarly, he points out that the bond market broke out of a quarterly momentum base to the upside, following gold's breakout in March. Yields on the benchmark 10-year Treasury note in August dropped below 4% for the first time since 2024's opening week. Yields were significantly lower than a 2024 peak of 4.70% in April and nearly 5% reached in October 2023. Based on the Bloomberg US Aggregate Bond Index, with yields declining, the bond market's total returns moved into modestly positive territory year-to-date in July.
Meanwhile, as of 29th August, Government bond markets, which have enjoyed a summer of solid price gains, now face a reckoning with their bets for speedy central bank rate cuts and slowing inflation, not to mention a tight US presidential election.
While supporting his current thesis, Michael predicts the final shift when the stock market's quarterly momentum floor breaks to the downside, completing the alignment of these four major asset categories. According to him, this shift will solidify a trend of going long on gold and T-bonds while taking short positions on stocks and the dollar.
From a technical perspective, Michael Oliver notes that while day-to-day actions might suggest gold and the stock market are in sync, their monthly momentum charts are in total opposition. He expects that if the stock market declines and gold doesn't follow, it could surprise many and lead to a buying panic in gold. The price of gold and the S&P 500 have had their first solid halves of the year, and they're up roughly the same amount, 17 to 18%.
However, looking back 20 years, for example, gold has outperformed the S&P 500. Precious metals' performance can be attributed to their unique position as real assets, which has one of the lowest correlations to stocks across asset classes.
In reflection on moving toward safer assets, Michael mentions investors like Stanley Druckenmiller have successfully shifted from tech stocks to gold miners. He anticipates this shift will restore the 60/40 stock-bond portfolio mix, making bonds more attractive.

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[jt-itot]

when I was in my 30s early 2000
I told people gold will go up, then it
went from $386.00 in 1988, to $800
spot, then I sold but never thought it would gain anymore, now look at the price, I am buying still, I say it's a bargain it's a beautiful metal to hold & admire
Interesting subjects about the bonds,
& Gold mining stocks, thank you for the knowledge

[Hzgsbaja]

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[Watcher-tj]

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[RodrigoHornos-dk]

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[rahmatullahww]

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