As the year 2024 comes to an end, the US stock market has become even more overvalued while being trumpeted as a poster boy for the well-being of America.hallowed pillars
Rather than the supposedly awesome 3% GDP growth that most analysts are projecting, it’s likely that GDP growth of about 20% would be required to alleviate the danger. and gold? In 1976, the dollar index was at about 108, and it’s about 108 now. In 1976, gold was about $100, and it’s $2600 now!, and mining stock investors should not focus on the failing fiat dollar’s supposedly great action versus various other failing fiats.
The oscillator could turn up here, but if it becomes oversold as the price arrives at support of size like $2550, gold, gold stocks, and silver bullion will be solid buys.It’s down to under 40 now and getting closer to the “no-brainer” buy zone of 30. Junior mining stock investing isn’t suitable for every gold bug, but when these stocks do well as a group, it usually indicates that intermediate and senior producers will fare well too.Another look at it, the daily chart. A huge symmetrical triangle is in play and the current pullback could end near the apex at $32-$30. Also, note the GDX vs gold action at the top of the chart.
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