Christopher Aaron – Gold And US General Equities To Make All-Time Highs In 2024, But Only One Of Those Moves Will Be Legitimate
Christopher Aaron, Founder of iGold Advisor and Senior Editor at the Gold Eagle website, joins us to break down the bigger picture technical and fundamental reasons he believes both gold and US general equities will make all-time highs in 2024, but that only one of those moves will be legitimate and continue higher. We spend some time reviewing the Dow:Gold ratio chart, and the large compression triangle it has been in for many years now getting ready to resolve in the next year or two.
We also explore what it would mean for gold and silver stocks if this was to be the last big move higher to come in gold, and Christopher provides some analogs to this period of time with PM equities and what played out in the second half of the 1970s. We look at what happened to gold and silver in the 1970s during sideways consolidations before finally breaking out, and then what correspondingly happened in the pricing action with both Newmont Corp (NEM) and Hecla Mining (HL) during those same time periods.
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Click here to visit the iGold Advisor website to keep up with Christopher’s market commentary.
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Hi Doc. That’s an interesting point that there are far more competing investment vehicles now for the same speculative money and anti-fiat money and more perceived safe haven avenues (just look at how most of this year generalists believe the Magnificent 7 are now the safe havens or in 2021 they considered Cryptos safe havens. etc…)
Heck, there are also way more mining stocks all waiving their arms trying to get investors attention. This is continually spreading out the available funds allocated to the gold and silver stocks over too many choices (over a thousand penny dreadful PM stocks….many of which shouldn’t even still exist).
Yes there is a more fragmented and distracted investor now, with many more options to choose from, which may affect the same intensity of a pile-on effect into the key gold and silver equities in this next run higher.
However, the point Christopher was making isn’t really that far-fetched about a big rerating higher in gold/silver equities if Gold runs up to $2500+ next year and drags Silver higher along with it.
Even in his worst-case scenario that the 2024 surge higher in PMs ends up being a 5th wave blow-off top from the bull that began when gold bottomed at $1045 in Dec 2015; that wiil still portend to many of the PM mining stocks that have been held under water for so long in their ridiculously low valuations will surge up higher multiple-fold.
Maybe it won’t be as epic as the moves in PM stocks from 1978-1980, but next year could still be a year of multi-bagger returns in the beatup mining stocks.
Yes wishful thinking…Like proceeding to sell pharma pills for decades to destroy health and calling that care…lmao
Anybody who has chosen this moment to predict that the conventional market is on the verge of an advance must be a contrarian, a mad fool, or a genius! DT
We’ve had a few guests on the show, and there are tons of talking heads in the mainstream financial media every day that earnestly believe the S&P 500, and Nasdaq, and many general US equity markets are getting ready to break out to new highs in the intermediate term as we head into next year. It remains to be seen if they are mad fools or geniuses, but it is going to be fascinating to watch how things play out…
I like Christopher and he tells a wicked tale with much conviction…………….the fairy dust however dissipates if one just stops and takes off the rose colored glasses of the COMEX being a truly free market and to boot, any trader there, really wanting to take 1 ounce for actual delivery ……….I will still stick to the casino theory and watch bollinger bands and moving averages, to tell me what to do in playing the probabilities !…..just my 2 cents from the peanut gallery !
Thanks for providing your 2 cents LarryC, as your perspective is appreciated. It is good to get a range of opinions on how these casino markets are setting up.
QQQ and NVDA made new all-time highs today and I’m sure SPY will soon do the same but it’s all still countertrend action from a momentum standpoint. Next year won’t be good.
https://stockcharts.com/h-sc/ui?s=NVDA&p=D&yr=1&mn=1&dy=0&id=p38767430824&a=1462122821
After reading the posts, I had to listen to this. Pretty interesting. Let me add some color to the story and say that I was investing in (South African) miners in the early 1970s with a Merrill Lynch broker and brokers didn’t know anymore about miners than they do now. It wasn’t considered safe then anymore than now . Nixon got rid of gold backing in 1971 and followed it up in 1972 to 1974 with Watergate. Gold and miners were going good after the 1971 political mistake but tanked with Watergate. I was in the military and it was too much hassle to keep up with stock markets as computers and real time information was rare. However, it was hard for them to manipulate markets as fundamentals ruled in “slow time” markets.
I put what I had in to mutual funds, computers were developed, markets converted to electronic trading and corruption became the driving factor.
Here we are today and now trying to make decisions when the information may be false and the daily performance may be computer driven and not fundamentally related.
But here is the issue that has finally reached a top … corrupted debt levels that have reached unpayable levels under any system of thought or criminal action.
Gold/silver and miners have been artificially suppressed under the same system that artificially moved the General Markets higher for 12 years. The Treasury has been transferred to corporate interests of all kinds in all who knows how many countries. The alternative universe burned itself out making the suppressed mining sector possibly the only real market with potential as there is nothing rational about its current price levels. So … if one of the markets is a “real breakout”, what’s the odds that it might be the mining sector as pricing has artificially been impacted for over 50 years.
Not much of a different conclusion than Christopher Aaron.
https://www.youtube.com/watch?v=G_yBdM_WuU0
Michael Boutros : Technical Analysis
02:47 – US Dollar (DXY)
08:16 – US Treasury Yields (10Y&2Y)
44:23 – Gold (XAU/USD)
49:25 – Crude Oil (WTI)
56:08 – S&P 500 (SPX5)
This guy was CIA, i tend to think once CIA always CIA, take what he says with a huge pinch of salt.
Fed finally typed minutes after several weeks of work, as short supply of ribbons. Possibly minutes not exact as memories fade, facts blur and many out of town. They will go with what they think they talked about. After years of waiting, the tape recorder is projected to arrive FY 2025.
Minutes will be released today.
Account went red at 8:50 AM on Schwab account. Gold + $30, Silver + 1%, Copper +.20%, Platinum +15%, Palladium down.
Algos are always last to know.
If Greece drops out of the euro it will be tough for a while and they would suffer serious inflation. Most countries going through a big transition suffer great inflation. But if Germany continues to push Greece around with regards to how they govern their own country, the Greeks now have a couple of powerful friends in Russia and China.
A statistic that stunned me is the fact that Greece already imports more from Russia and China than they do from their two largest European trade partners. So if Greece pivots to the East, that’s another big blow to the West. This is just another sign that economic power is flowing faster and faster from West to East.
Another major problem for the West is the fact that the dollar cannot retain its reserve status. With gold valued at less than $1,200 today, the value of all the gold supposedly held in central bank coffers is only $2 trillion to $3 trillion. That sounds like a big number but in reality it’s not.
Move Higher In Gold Will Be Quite Violent
I said last week’s KWN interview that the value of gold will eventually pass the Dow, which is currently at $18,000. Every time I pick up a newspaper and see economic power and activity shifting to the East, that prediction moves closer and closer to becoming reality. The eventual move will be quite violent as reality finally sets in for the West.
If Greece were to do so the entire Balkans area could destabilize.
The political gangs there would need to ‘re-adjust’.
There are virtually no financial advisors in the West telling their clients to own physical gold and silver. When the rush into gold begins in earnest, that $2 trillion – $3 trillion of gold that is supposedly held in central bank vaults will be gone in a flash or the price will have to skyrocket. That will all be part of why the price of gold will eventually break above 1/1 with the Dow in terms of the ratio.
Dow gold ratio 1980…… humm……1.40……… Young sheeple better get their heads around this one… 🙂
Looking forward to the audit of Ft Knox when they find out the physical is in bank vaults in New York. I am also expecting the explanation for what happened and how to fix it is the US is now a Fascist State and everyone needs to move out their houses and head to the work camps.
Lots of wishful thinking here…. In the ‘former times’ alluded to here, there was basically only stocks, bonds, precious metals ( and pork bellies contracts) to attract funds and speculations. With soo many other cash/fake cash véhicules Nowdays, hard to believe thing will be the same again or remotely rimes (? Mark Twain )