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Gold Breaks 100 Moving Average, Silver 50 Day – Are Future Gains in Store? - Nathan McDonald

Gold Breaks 100 Moving Average, Silver 50 Day – Are Future Gains in Store? - Nathan McDonald
By Nathan McDonald 5 years ago 65499 Views No comments

Nathan McDonald is a libertarian, entrepreneur and precious metals enthusiast. He has always taken a keen interest in free markets and economics since an early age, which naturally led him to become a true believer in precious metals and all that they stand for.

Nathan served eight years in the Royal Canadian Navy as an electronics technician, seeing the true state of the world, before starting his first successful business. He has since gone on to create a number of businesses, all of which are still in operation and growing.

In addition to this, Nathan runs a network of successful precious metals blogs, and a growing newsletter that has attracted readers from all around the world.

He is a regular and highlighted writer for the highly respected Sprott Money Blog, which covers world events, geopolitics and of course precious metals.

January 22, 2016

Big money is beginning to move into gold. As we have previously discussed here in the past, some of the financial elite are encouraging you to get your money out of stocks and into precious metals.

Does this mean that gold and silver are set for their overdue rise? Does this mean that the markets are due for a legendary collapse, the likes of which have not been seen since the 2008 financial crisis?

The answer is yes, no and maybe. Yes, the markets are going to have a monumental correction, and yes, gold and silver are destined to move higher, but who knows when. It could be today, it could be tomorrow, or a year from now.

Regardless of when this monster move higher in precious metals will occur, we can breathe a sigh of relief today, as the metals are experiencing some positive news at last.

Gold has surged higher, breaking through the $1100 ceiling that has held it back for quite some time, and in addition to this, it has once again pushed through its important 100-day moving average.

Although still ridiculously cheap, silver has also moved higher and broken its 50-day moving average.

These averages are important, as they can usher in a wave of traders that are looking to chase easy money, which will bring additional flows of cash into the precious metals space. This has the possibility of creating a self-fulfilling prophecy that moves prices higher and higher, similar to what was seen when silver neared the $50 mark some years ago.

These are the kind of breakthroughs that traders watch closely, and you can rest assured that they are once again watching the precious metals space, especially given the recent predictions from some of the banking elite for it to move higher throughout this year and next.

The biggest risk we now face is whether or not the cartel will once again put its thumb on the paper price of these metals and force it lower. It is a possibility, but at some point, regardless of what they want, the metals are going to move higher. The free market will make sure of that.

So is this the long awaited breakout we have been waiting for? Is this the start of a renewed upturn in precious metals? Only time will tell, so until then, sit tight and be right.

The views and opinions expressed in this material are those of the author as of the publication date, are subject to change and may not necessarily reflect the opinions of Sprott Money Ltd. Sprott Money does not guarantee the accuracy, completeness, timeliness and reliability of the information or any results from its use.

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