Gold's 20-Day Moving Average at Record High

Gold is up by $8.88 today to $2,040.62 per oz.

Gold's 20-day moving average of $2,024.90 per oz is its highest 20-day moving average in history, which means the big breakout to above $2,100 per oz permanently is coming.

In all likelihood, after gold settles above $2,100 per oz for the first time, it will trigger a FOMO rally to $2,300-$2,600 per oz in 1Q 2024.

Gold would already be as high as $2,600 per oz today if not for AI causing people to panic buy big tech stocks earlier in the year.

The overwhelming majority of investors expect gold to "disappoint as always". Everybody expects Bitcoin to soon hit $100,000. When everybody expects something... the opposite always happens. The market always tricks the vast majority of people.

Anybody buying Marathon Digital (MARA) today thinking it has any chance of going back to its all-time high is an idiot. MARA is much closer to a peak than anybody expects.

The highest quality gold exploration stocks like Augusta Gold (TSX: G) are about to get rapidly revalued higher in a huge unexpected catch-up trade starting as soon as next week.

Almadex Minerals (TSXV: DEX) today is sort of like Enterprise Group (TSX: E) at our suggestion price of $0.16 per share. 

Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. This message is not a solicitation or recommendation to buy, sell, or hold securities. NIA's President has purchased 224,200 shares of G in the open market and intends to buy more shares. This message is meant for informational and educational purposes only and does not provide investment advice.