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Stewart Thomson
writes the Graceland Updates.
I'm not a
fan of Stewart Thomson - I find him arrogant, and a wholly inaccurate PM analyst
- I consider him one of the worst. Let's allow his wayward predictions
speak for themselves:
"In late 2013, I
predicted the Fed would taper all the way to zero in 2014, and
suggested that taper would turn the Dow into a “wet noodle”, while
creating a rally in gold prices. That’s the opposite of what
most analysts thought would happen in 2014, and it’s exactly what
has transpired!" -Stewart Thomson Oct 2014
"Gold Set to Surge, Silver Looks Even Better! I think gold could
charge beyond $1325, and on towards the $1347 and $1390 area highs.
Silver, which is perhaps better referred to as “gold on steroids”,
looks even better." -Stewart Thomson August 2014
"...any gold-negative news is not likely to move the price
of gold lower than $1275. The upside numbers of importance are
$1325, $1347, and $1392." -Stewart Thomson July 2014
"Gold: “Let the Good Times Roll!” During the first six months of
2014, there have been quite a number of events that are positive for
the gold market, and there was a big one yesterday. Gold staged a
nice breakout from a small bullish wedge pattern last night, and the
entire chart has a very bullish look. Why is that? Well, the month
of August can see Indian citizens buy enormous amounts of gold, as
they begin preparations for the wedding season and Diwali.
Expectations of those liquidity flows into gold are likely why the
gold chart looks so bullish now." -Stewart Thomson July 2014
"Gold: The Worst Is Over, What’s Next? The time to be heavily
invested in the precious metals sector is not later. It’s now."
-Stewart Thomson June 2014
"While the short and intermediate trends for gold are greatly
influenced by Fed policy, events in China and India are now the key
drivers of gold’s primary trend.... and sends gold surging
towards my target of $1432." -Stewart Thomson July 2014
"A persuasive argument can be made that gold staged an upside
breakout last night. The range of $1305 – $1326 was decisively
penetrated to the upside, and gold traded as high as $1335. Monday’s
close was critical, because it was not just the end of the month,
but the end of the quarter. Junior gold stocks staged a
spectacular ending to the first half of the year, on massive volume.
The chart suggests the second half of 2014 will be even better!"
-Stewart Thomson July 2014
"Gold Stock ETFs: Outrageously Bullish! If I’m correct, the “bare
minimum” arithmetic target is: $2663. I think my target price is
absolutely justified by the global fundamental and geopolitical
price drivers." -Stewart Thomson June 2014
"Technically, all sectors of the gold market look bullish.
Regardless of whether a daily chart, weekly chart, or a monthly
chart is used, all technical lights are green. The weekly charts
suggest that investors who are waiting for gold to bottom in July
are at risk of missing an enormous rally that appears to already be
underway." -Stewart Thomson June 2014
"I’ve outlined a rough scenario for summer rally enthusiasts on the
daily silver chart below. I’ve suggested silver could move up to
about $22. Much higher prices are possible." -Stewart Thomson
June 2014
"Gold now seems to be forming an inverse head and shoulders bottom
pattern, and that’s good news for bullish investors." -Stewart
Thomson April 2014
"Indian National Election is the Most Bullish Event for Gold in Past
100 Years!" -Stewart Thomson April 2014
"Gold market technicians should be open to the possibility that in
the bigger picture, this rally has only just started.
Many of PM investors are likely to sell on a rally back to the
$1500 area, to cut the huge losses they sustained in 2013."
-Stewart Thomson February 2014 |
