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Palisades Gold Interview: 13-Year Base In Gold Means Big Moves Ahead

By Kurt Osterberg · On September 16, 2024

Image Source: Pixabay

Gary Savage highlights a potential 13-year gold base pattern and impending breakout, expecting prices to reach at least $7,000.

Silver’s volatility could lead to larger proportional moves, reaching new all-time highs towards the end of the bull market.

Significant move upwards in metals, invest in physical gold and silver before the anticipated breakout, and maintain a long-term perspective.

Tom Bodrovics welcomes back Gary Savage, a retired entrepreneur and commodity trader, about the current state and future prospects of metals markets, specifically focusing on gold and silver. Savage underscores the importance of considering larger time frames for understanding gold market trends, emphasizing a potential 13-year base pattern in gold and impending breakout. He anticipates gold prices to reach at least $7,000 and potentially $10,000 due to this significant base size. Silver’s volatility could lead to larger proportional moves, with expectations of it reaching new all-time highs towards the end of the bull market.Savage differentiates gold and silver markets based on distinct fundamental drivers, discussing the potential implications of the war cycle, inflation, and recent dollar trend following the Fed’s Jackson Hole meeting. He encourages investors to remain attentive for a significant move upwards in metals and advises buying physical gold and silver before the anticipated breakout.The discussion covers the significance of COT reports as a tool. Gary highlights the potential leverage from miners, but ultimately suggests that physical precious metals could yield greater gains in the long run. He delves into the impact of the upcoming FOMC meeting and the potential for a recession.Mr. Savage shares his belief in the precious metals sector’s potential benefits due to the significant gold breakout, encouraging listeners to maintain a broad perspective despite market fluctuations. He dismisses energy, uranium, Bitcoin, and the stock market for investment purposes, favoring precious metals amid geopolitical tensions that could lead to a possible World War III. Savage concludes by urging listeners to stay focused on the big picture.Video Length: 00:36:16Video Chapters
0:00 – Introduction
0:40 – Big Picture on Metals
3:00 – Comparing Silver & Gold
5:12 – Commodities & Metals Diverge
6:37 – Dollar Fundamentals
8:26 – Gold Charts & Cycles
12:19 – Silver Chart & Outlook
15:22 – Trades & Timelines
19:00 – COT Reports Uses?
20:18 – Silver Miners & Leverage
22:40 – Dollar & Other Currencies
24:23 – Fed & Recession?
28:03 – War Cycle & Elections
30:00 – Regression Analysis
33:50 – Metals Sector Divergence
35:35 – Wrap UpMore By This Author:The Dollar Is In A Secular Bear MarketGold: Is It Time To Be Bold?The Power Of Regression