BEWARE Gold and Silver Stackers! GET OUT NOW Before the FIREWORKS BEGIN - Chris Vermeulen

BEWARE Gold and Silver Stackers! GET OUT NOW Before the FIREWORKS BEGIN - Chris Vermeulen

Gold continues its bullish streak, achieving a third consecutive weekly gain and reaching 2,743.33 dollars, bolstered by its appeal as a safe haven amidst geopolitical tensions in the Middle East and growing uncertainty over the upcoming US election. Despite strong gains in the dollar and rising yields, gold has managed a notable 32% year-to-date increase, illustrating its resilience in volatile times.
Market analyst Chris Vermeulen believes gold’s current momentum could push it slightly higher in the short term, yet he suggests the most substantial gains may already be behind us. He emphasizes that an anticipated pullback, likely in 2025 amid a potential recession, could offer a strategic entry point for long-term investors.
Sentiment around gold’s near-term performance has recently cooled. The latest Kitco News Weekly Gold Survey revealed a decline in bullish sentiment among industry experts and retail traders, with both groups showing an almost identical distribution of expectations regarding gold’s upcoming price trajectory. Vermeulen highlights that this correction could begin a robust, multi-year rally, potentially propelling gold prices to as high as 3,500 dollars to 5,500 dollars. However, Kitco Senior Analyst Jim Wyckoff maintains that fundamental and technical factors support gold’s price, noting that its steady rise is reinforced by safe-haven demand, which provides a solid price floor.
Vermeulen underscores that gold’s momentum often signals a shift away from riskier assets in response to global economic concerns, a pattern seen during the 2008 financial crisis. During such times, the US dollar typically strengthens alongside gold, reinforcing its role as a secure investment.
This latest rally saw gold hit a new record of 2,758.53 dollars earlier in the week, defying traditional market correlations with rising yields and a strengthening dollar. The dollar index climbed to 104.24, marking its fourth straight week of gains. Yet, gold has retained its momentum, highlighting its enduring strength as both an investment and a hedge against market instability.
While still riding a strong bullish wave, the silver market appears to be showing signs of exhaustion. Analysts suggest that any significant pullback should be considered an opportunity for investors to enter the market, though cautiously, given silver's inherent volatility. Careful position size management is advised to mitigate the risks associated with potential fluctuations.
Market expert Chris Vermeulen anticipates a temporary pause in silver's uptrend over the coming months, with a likely buying opportunity emerging once a broader market correction unfolds. He believes silver could soar to 50 or even 80 dollars during a robust rally phase, though he emphasizes the need for patience and precise timing, given the metal's unpredictable price movements.
Silver’s recent surge, climbing over 6% to surpass 33.60 dollars per ounce, has brought further intrigue to the market, particularly as it now poses a financial threat to five major US banks with substantial short positions. This unexpected spike underscores silver’s capacity for rapid gains and heightened volatility, which investors should consider in any future strategy.

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