Commodities Analysis by Stewart Thomson covering: XAU/USD, Gold Futures, VanEck Gold Miners ETF. Read Stewart Thomson's latest article on Investing.com
is the world’s greatest cash . For amateurs, setting target prices is most important. Pros simply want to identify price zones where they can eagerly buy more.and the mining stocks, but first I’d like investors to look at some of the “backstage lighting” currently shining brightly for gold.If the Fed needs a reason to cut rates, the fading global growth showcased by oil is certainly it. In the West, most gold pays no interest and a cut in rates would get these gold bugs very excited..
This is bright background lighting for gold, which is already the greatest actor on the global markets stage. The weekly chart. The bull flag target is $2800, and the massive inverse H&S patterns targets a price well above that, at $3300.Aggressive investors should prep to buy the $2480 zone. It's solid support.
From the highs on this chart, gold stocks are down about 75% against gold. This is not a time to issue a top call. It’s a time to accumulate the miners, and to do it with tactical precision.From there, a light pullback to the buy zone of $37.50 is likely to occur. By late 2025, GDX should be not only at all-time highs, but it could be the most-loved ETF in the world. Many gold stock investors have waited patiently for this scenario to happen, and now their time in the limelight is here.
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