Gold: the outlook now.

Gold prices have been slowly increasing.

 

As gold price increases toward a breakout, it is knocked back. This is especially notable on the graph of what happened last week Thursday and Friday. Gold surged past 1,300 then it was knocked back on heavy volume. You can see the effect of the takedown on my favorite gold miner:

 

As you can see, the knockdown almost negated the breakout of Thursday. This is in line with what has been done to the gold miners:

 

 

 

 

Clearly, gold mining stocks have really suffered as the result of the price manipulation. In fact, the manipulators have practically driven the junior gold miners out of business. That is why these stocks are such bargain.

 

So, what do the experts expect is going to happen? Most of them forecast a rally in gold price and the question is whether gold is going to punch through the 1,300 level and go beyond that. The Edelson Institute disagrees:

 

 

The Edelson Institute's cycle predictor forecasts a rally in September that will last a month and will be followed by another dip in October, November and December. That is when everyone concludes that gold is worthless and then the big boys will take up gold in 2018.

 

Another metal ready to rally is uranium. This depends on the Japanese restarts. One of the best companies is UEC, which leaches uranium out of the ground and is low cost and low pollution. It has bought up properties while the industry was suffering.