Gold Price Big Picture Trend Forecast 2021 / Commodities / Gold and Silver 2021
Below is our long term goldforecast, it continues to be bullish on a monthly basis, despite the turbulenceof 2020 gold has performed well and a pause for a few months is entirelyreasonable given the speed of its initial acceleration.
As you can see from our monthlychart, gold is clearly at significant levels - hovering around the 2011 highs, theunderlying structure of the market is still very positive (big blue line) andthe bull signal (small blue line) which turned positive in March 2018, stillremains bullish. We think a monthly close above $2000 in the next few months wouldbe a significant moment.
From the lows of late 2018gold has quietly performed well relative to the S&P 500, we have included belowour weekly and monthly GOLD/SPX ratio forecasts, you can see on a monthly basisthat gold is cheap relative to the SPX and on a weekly basis we are approachingthe long term floor. We will be looking for this ratio to begin to turn during2021.
Gold sold off again this weekindicating it wants to consolidate for a while longer, this shouldn’t worrylonger term bulls, a few more weeks and months hovering around these levels oreven a little lower whilst frustrating will be forgotten when the next bull legis underway.
The miners surpisingly outperformedgold last week with GDX and GDXj both remaining neutral to mildly bullish.
GOLD continues to be bullish on a MONTHLY basis.
GOLD is bearish on a weekly basis
GOLD/SPX remains bearish on a monthly basis
GOLD/SPX remains bearish on a weekly basis
GDX has moved to neural on a weekly basis.
VanEck Vectors GoldMiners ETF (GDX)
GDXJ has turned mildlybullish on a weekly basis.
VanEck Vectors Junior Gold Miners ETF (GDXJ)
Ken Ticehurst
Founder www.Ivalgo.com
Ken Ticehurst is the publisher of forecasts for a wide rangeof markets at www.Ivalgo.com he has a BSC (Hons.) in Industrial Design anddecades of experience as a data analyst. Having used technical analysis duringover ten years of trading, he became frustrated with how backward looking it isand set about creating a logical mathematical approach to analysing futureprices.
Copyright 2021, Ken Ticehurst. All rights reserved.
Disclaimer: The aboveinformation is not intended as investment advice. Market timers can and do make mistakes. The above analysis is believed to bereliable, but we cannot be responsible for losses should they occur as a resultof using this information. This articleis intended for educational purposes only. Past performance is never aguarantee of future performance.
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