Talk Digital Network – Jim Goddard
05/25/16 – The Golden Year Reaffirmed; Gold/Silver Poised for New Surge After Impending Late-May Cycle Low. Precious Metals Fulfilling 2–4 Week Sell Signals (from early-May) and Nearing Downside Targets… Larger-degree Advance Could Begin in June/July 2016.
Jim asks Eric for an update on his gold outlook and the bottoming process since late-2015. Eric reiterates & updates his outlook for 2016to be The Golden Year – experiencing an initial surge into mid-2016 (the longest & largest rally in several years) and setting the stage for 2017–2018.
Eric explains why the April 19th Shanghai Gold Fix triggered the final stage of an initial 5-wave advance (into late-April) and set the stage for a larger-degree correction (now nearing completion) and the onset of a larger rally, beginning in June/July 2016. If/when Gold reaches its pullback target (1190–1200/GC), it would correct the initial advance and usher in a more bullish phase in Gold.
Eric explains why the Jan.–April 2016 rally was the most bullish structure for Gold & Silver – in many years – and provides the perfect lead-in to a more dynamic advance after support (1190–1200/GC) is tested.
Jim asks Eric about gold mining stocks and Eric explains that the real bullish phase waited until late-January to kick in there… triggering a delayed, 3–6 month advance in the XAU & HUI, etc. that is focused on 3Q 2016 for the most decisive moves.
Eric then discusses his outlook for equity markets, explaining again how he expected a 12–18 month period (from early-2015) of wide swings but little follow-through on trends. He reiterates how the late-Jan. lows fulfilled much of the immediate downside (for 2016) and that a more convincing decline is not likely until late-2016… and then into 2017.