Analysts at Elliot Wave Trader say gold has bottomed and has started a new upward trend. Garley Garner, co-founder of DeCarley Trading, says now’s the time for investors to start dipping their toes into gold if they haven’t yet. “To be honest, I would love to see gold prices go a little bit lower into the new year to get a better price, but this isn’t a bad place to start buying small positions,” she said, adding that it’s a good way to “build a position while limiting your risk.”

Kitco News/Neils Christensen
Now is the time to build a small position in gold even if prices can move lower – DeCarley Trading’s Carley Garner

The gold market remains stuck in neutral, solidly above $1,750 an ounce as it waits for a new catalyst; however, one market strategist says instead of trying to time the market, investors should recognize that current prices represent long-term value.

In an interview with Kitco News, Garley Garner, co-founder of the brokerage firm DeCarley Trading, said that investors could start dipping their toes in the market and building small positions to take advantage of the growing upside potential.

“To be honest, I would love to see gold prices go a little bit lower into the new year to get a better price, but this isn’t a bad place to start buying small positions,” she said.

You can read the full story, here.

Elliot Wave Trader via GoldSeek
Newmont: The Bottom Is In For Gold

The bottom is in for gold. That is obviously a definitive statement. For those that are familiar with our analysis methodology you know that we view the markets from a probabilistic standpoint. So, what this means for us is that our primary scenario is that metals have seen an important low and have begun a new uptrend. However, we also have an alternative scenario that we monitor so as to tell us when our primary expectation must be adjusted or even abandoned. Let’s dive right into both the fundamental and technical analysis.

Lyn Alden recently provided these comments regarding the Dollar and Gold. “The dollar index has been in a downtrend recently, breaking its 2022 upward momentum on the weekly chart. The recent inflation print strongly contributed to this. If inflation begins falling, the Fed is more likely to slow down its interest rate hikes, and so the market begins expecting a slightly less hawkish Fed, and thus a weaker dollar.”

You can keep reading, here.

Fox Business
US ‘without a doubt’ will see a recession: Wolfgang Koester

Kyriba senior strategist Wolfgang Koester looks ahead to Fed Chair Jerome Powell’s comments on Wednesday and says a recession can be “healthy” depending on how deep it goes.

Listen to the full interview, here.

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