Loading ...[high vol? up? down? He is not talking about just gold but mkts in general…anyone care to interpret what the “Great CRyptic Swami” is saying?]
Gold & Its Role
Gold is facing a Panic Cycle this week which will begin a period of high volatility into June. We have closed with the highest weekly settlement so far for this rally. We see technical resistance at 1768 level and system resistance at the 1799-1805 level. Gold is starting to show that there is a great concern for the monetary system’s survival. I have previously warned that a summer high as possible going into May with a pullback into June/July. The next high period of volatility will be Jan/Feb 2021. A May close above this 1755 level will point to a June High at minimum. We still show the 2nd quarter as the high or at least the highest quarterly closing. Keep in mind we are doing battle with a Socialist coalition. They will not allow people to turn to gold to defeat their grand plan. There remains the risk of pushing gold underground into a black-market.