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Gold & The Jobs Report: Investor Tactics

President of Graceland Investment Management
March 7, 2023

For many years, gold has had a rough general tendency to decline ahead of the US jobs report, and then rally after the release of the report.

The next report is scheduled for this Friday.

A dip to $1815 now would be just what the “technical analysis doctor” ordered, to create an inverse H&S pattern right shoulder… and a post-report rally to $1885.

Big bank FOREX traders appear to have abandoned the yen as their main safe-haven currency. That’s restored lustre to the relationship of the dollar versus gold.

A look at the dollar (basis DXY). While the dollar could rally into the jobs report (and with a speech from Fed chair Jay), the March 16 ECB announcement should be the catalyst that begins the next major decline.

The Fed has been hiking more aggressively than the ECB, empowering the dollar. Statements from both the Fed and the ECB suggest that’s about to change.

In the coming decades, China and India will become the main economic engines of the world and the dollar will become much less important than it is now.

After he finishes his hideous war mongering in Ukraine and fails there, US President “Jackboot Joe” will likely borrow even more money, and try to use it for war with China in Taiwan.

The current 2021-2025 war cycle may end before he’s able to activate his macabre plan, and hopefully it does.

What about Iran? Lithium and copper are best described as “the new oil”. They are vital commodities as the world tries to switch from brown energy to green.

If China doesn’t take the Taiwan war bait, the US government may try “Plan B” and go to war with Iran, to steal the lithium.

As empires fade, debt, loose morals, and international meddling become hallmarks of the decline. As the American empire fades into the sunset, the yuan and rupee will become more common in business transactions, and global citizens will have much more interest in the ultimate currency which is… gold!

Oil is on the move again, rallying from an inverse H&S pattern and my $75 buy zone.

If oil spikes higher, global inflation does too. In Europe, the citizens are more docile than tens of millions of heavily armed Americans. They have a much shorter fuse when it comes to putting up with government schemes that go badly awry.

Jackboot Joe’s deranged war mongering won’t be tolerated by US citizens if oil rises back towards $130… let alone to $170 or $200.

An astounding 60% of Americans are living P2P (paycheck to paycheck). This, while Joe and his entourage of war worshippers borrow insane amounts of money for funding their failed wars in faraway lands.

A spike to $130-$170 for oil would likely see the P2P number rise to 70% or even 80%. At that point, food and fuel riots (and civil war?) would become a realistic scenario. Got gold?

A look at the mining stocks. While a junior mine stock investor needs to have a gambler’s mindset, this CDNX daily chart suggests the junior market is currently a very good gamble!

I write my junior resource stocks newsletter about twice a week, and at just $199/12mths it’s an investor favourite. I’m doing a special pricing this week of $169 for 14mths. Click this link or send me an email if you want the offer and I’ll get you onboard. Thank-you.

What about GDXJ? GDXJ is called a junior mining companies ETF, but many of its top holdings are senior producers!

There’s a bit more risk and potential reward with GDXJ than with GDX. I like it both. For GDXJ, a drooping C&H handle pattern appears to be in play.

A lot of volatility in gold and the miners is likely until after the ECB meet (March 16) and the Fed meet (March 22).

The GDX chart. I predicted a 10% rally for most GDX component stocks from gold $1808, and that’s played out on cue.

Ahead of the jobs report, a dip towards $1815 is likely for gold, and from there a powerful rally to $1885 is probably the next card on the table. A double bottom for GDX at about $27 would fit with gold hitting $1815. From there, the GDX targets are $33, $37, and $40!

Special Offer For Gold-Eagle Readers: Please send me an Email to [email protected] and I’ll send you my free “Golden Race Cars” report. I highlight under the radar juniors sporting sudden bursts of volume that usually precede massive rallies! Key investor tactics are included in the report.

Thanks!

Cheers

St

Stewart Thomson

Graceland Updates

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Stewart Thomson is a retired Merrill Lynch broker. Stewart writes the Graceland Updates daily between 4am-7am. They are sent out around 8am-9am. The newsletter is attractively priced and the format is a unique numbered point form. Giving clarity of each point and saving valuable reading time.

Risks, Disclaimers, Legal

Stewart Thomson is no longer an investment advisor. The information provided by Stewart and Graceland Updates is for general information purposes only. Before taking any action on any investment, it is imperative that you consult with multiple properly licensed, experienced and qualified investment advisors and get numerous opinions before taking any action. Your minimum risk on any investment in the world is: 100% loss of all your money. You may be taking or preparing to take leveraged positions in investments and not know it, exposing yourself to unlimited risks. This is highly concerning if you are an investor in any derivatives products. There is an approx $700 trillion OTC Derivatives Iceberg with a tiny portion written off officially. The bottom line:

Are You Prepared?

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Stewart Thomson is president of Graceland Investment Management (Cayman) Ltd. Stewart was a very good English literature student, which helped him develop a unique way of communicating his investment ideas.  He developed the “PGEN”, which is a unique capital allocation program. It is designed to allow investors of any size to mimic the action of the banks.  Stewart owns GU Trader, which is a unique gold futures/ETF trading service, which closes out all trades by 5pm each day. High net worth individuals around the world follow Stewart on a daily basis.  Website: www.gracelandupdates.com.


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