Gold Update This chart of GLD contains an insert of our 2024 GLD trades and a wave count that suggests another year of the same, Study it. If you missed any of these GLD trade, let this graphic seep in. Gold is running higher and until it stops making new highs, we can assume the target prices are reasonable expectations for the expiration months ahead. GLD 2021-2025 All of 2024 trades have been part of a Minor Wave 3 up, which appears to be morphing into a Wave 5 blow-off targeting GLD well above $300. If you do the math, 8 trades since March 1st averages a Best Return, expired and unexpired, of about 257%. Even half of that results in 8 trades up 125% each over the course of six months, over a trade a month in the triple digits. That suggests Gold is in a huge impulse wave higher and more upside needs to be given every benefit the doubt in the months ahead. We added Silver in the PRO Service and may extend that coverage to the Premium Service on a tradable pullback. For now, we will ride the indicated wave count until price stops making higher highs and higher lows, i.e., until the trend reverses, which looks unlikely anytime soon. Gold Futures Since Major Wave 1 up took one year, expect wave 3 to last at least that long, going into mid 2025 which should provide multiple additional entries for GLD calls all the way up. There will be bumps along the road, so money management becomes paramount, but in the end more and bigger winners than losers. Follow-Up: Boeing (BA) Next target $125; then < $100 BA Jan 2025 Puts
