Gold Has Shattered A 10-Year Chart Formation

September 5, 2017

The next leg up for gold is officially here.

Gold prices have broken out of the mother of all triangle patterns established by the long-term bull market trendline established in 2006 and its seven-year descending line from the 2010 peak.

Of course, things won’t be moving in a straight line from here. But the upside target for this formation is well north of $3,000 in the next few years (again, remember this formation took over a decade to form).

We get confirmation of this from the gold Miners to gold ratio (GDX: GLD). Think of this as a measure of gold beta as Gold Miners typically lead the precious metal during major moves.

With that in mind, consider that the Gold Miners to gold ratio has broken out of a bullish falling wedge pattern running back in 2007. This is MASSIVELY bullish and predicts the ratio moving to 0.45.

Put another way, gold is going to be moving sharply higher. And Gold Miners are going to be going through the ROOF.

If you’re not taking steps to actively profit from this, it's time to get a move on.

We just published a Special Investment Report concerning a secret back-door play on gold that gives you access to 25 million ounces of gold that the market is currently valuing at just $273 per ounce.

The report is titled The Gold Mountain: How To Buy GoldAat $273 Per Ounce

We are giving away just 100 copies for FREE to the public.

As I write this, there are 59 left.

To pick up yours, swing by:

https://www.phoenixcapitalmarketing.com/goldmountain.html

********

Graham Summers

Chief Market Strategist

Phoenix Capital Research

Graham Summers is Chief Market Strategist for Phoenix Capital Research, an independent investment research firm based in the Washington DC-metro area with clients in 56 countries around the world.

Graham’s clients include over 20,000 retail investors as well as strategists at some of the largest financial institutions in the world (Morgan Stanley, Merrill Lynch, Royal Bank of Scotland, UBS, and Raymond James to name a few). His views on business and investing has been featured in RollingStone magazine, The New York Post, CNN Money, Crain’s New York Business, the National Review, Thomson Reuters, the Glenn Beck Show and more.

India and the U.S. trump Italy as top gold jewelry exporters.