What’s the Next Move In Gold?

“Invert, always invert: Turn a situation or problem upside down. Look at it backward.”
-Charlie Munger

Since October Hit and Run has been pounding the table on gold and silver.

We followed up with Monday’s report on silver.

On Tuesday the metals exploded.

Thursday is month end and gold is set to close at a record monthly closing high.

Gold is threatening a Rule Of 4 Breakout…a breakout over a 3 point trend line.
There are typically no triple tops…the 4^th time thru, follows thru.

Gold staged a Rule Of 4 Breakout in June 2019.and ran for 14 months.

GDXJ is on the verge of an Angular Rule Of 4 Breakout.

The recent swing low was 30.50 on October 4^th.

90 degrees higher on the Square of 9 Wheel is 37.

GDXJ closed with authority over 37 on Tuesday opening the door to the next decrement of 90 degrees up which is 43.

In sum, despite indiscriminant buying in non-metal stocks across the board, asset managers are seeing value and safety in precious metals going into 2024.