Michael Oliver – No Correction For Gold Until At Least $2,100, Gold Price To Hit $2,600-$2,900 By End Of Year

kingworldnews.com

With the gold market taking the world by surprise this year hitting a new all-time high close to $2,000 before pulling back, one of the most important interviews of 2020 has just been released with Michael Oliver, the man who is well known for his deadly accurate forecasts on stocks, bonds, and major markets.

Downside In Silver Would Be Brief & Sharp, Over In A Day Or Two
 
July 30 (King World News) – Michael Oliver at MSA:  We shifted our emphasis to silver when it went through $19.48 two weeks ago.  We thought silver would then outperform gold.  It has.  We thought the silver thrust would get the price up to $25 before there was any downside.  We got it and silver even traded a bit higher.  We thought the downside would be brief and sharp and be over in a day or two.  That looks to be the case.

No Correction For Gold Until Price Hits At Least $2,100
 
Our expectation for gold is that it probably won’t get any serious wobble until the price gets to at least $2,100.  But realistically we are looking for at least $2,600-$2,900 by the end of this year.  We thought that silver would be $30 at that point but we changed our mind.  We don’t know where silver might be when gold gets into that high $2,000s zone.  We suspect silver will be way up into the $30s.

Miners Shift To Outperform: Junior Gold Miners About To Overtake Majors
 
The miners are shifting to outperform vs gold.  Therefore our emphasis is you’ve got to watch gold, but the better place to be is in silver and gold miners, rather than gold.  The junior gold miners look like they are about to overtake the major gold miners in terms of relative performance.  This indicates to us that rather than fund managers who have to be conservative, and therefore they buy the bigger miners, now you have money coming in from other investors who are willing to risk buying the junior miners.  It indicates a wider audience is now moving into the gold mining sector, not just the large asset managers.

So I think now is the time that you do not worry about corrections.  It’s been inappropriate to worry about corrections for the last year or so anyway, but now is certainly not the time to be always worried about corrections.  You must be positioned.  This move is going to be massive and it’s going to be over the next year or so to levels that frankly we can’t predict.”