A Major New Bull Market in Gold Prices is Now Underway!

Just a quick note today (Sunday morning, October 29th, 2023).

The December Gold Futures Contract closed above $2,000/oz this past Friday.

Extremely rare Monthly Chart Buy Signals have now been triggered within my proprietary computer trading system in both the Major and the Junior Gold Mining Shares ETFs (GDX and GDXJ, respectively - see charts below).

While it's not hard to see why gold and precious metals mining shares are attracting attention right here given the current global state of affairs, I see this month's bullish price action in gold and related precious metals investments as more than a short-term tradable event.

I don't think it's a stretch right now to forecast gold at $3,000/oz and silver at $50/oz over the next 14 months (before the end of December 2024). Of course, if this forecast is right, precious metals mining shares could easily soar 500% or more over the next year!

Major Gold Mining Shares ETF (symbol GDX) Monthly Chart Buy Signal

Junior Gold Mining Shares ETF (symbol GDXJ) Monthly Chart Buy Signal