This is Huge! Upcoming Gold and Silver Rally is Going to Shake the World - Adrian Day

Gold prices experienced a slight uptick on Thursday during the first half of the European session, maintaining positive momentum while staying below the crucial 2,040-2,042 dollars resistance zone. The climb in gold prices on Thursday was attributed to a weaker dollar, with market focus on an upcoming US inflation report expected to provide insights into the Federal Reserve's policy direction for the year.
Adrian Day, the founder of Adrian Day Asset Management, shared insights into the current trends and future outlook for gold, silver, and other precious metals. Day anticipates gold reaching an impressive level between 2250 and 2300 dollars.
The upcoming US consumer inflation data, scheduled for release on Thursday, is highly anticipated. Economists polled by Reuters foresee year-on-year inflation at 3.2% in December, with core inflation expected to dip to 3.8%, marking its lowest point since mid-2021. A New York Federal Reserve report suggests that consumers anticipate a decline in inflation. Additionally, Fed Governor Michelle Bowman recently commented that the US central bank's monetary policy appears "sufficiently restrictive."
Day's prediction aligns with the idea that gold could surge when the Federal Reserve signals a pause and pivot before fully addressing inflation concerns. The US Federal Reserve is expected to maintain interest rates at the end of its meeting on January 31. Market indicators, such as the CME Fed Watch Tool, indicate a mere 5% probability of an interest rate cut in January.
Day emphasizes the evolving market sentiment, noting that initial optimism was high, with more than 88% of participants anticipating rate cuts by March. However, the current expectation has decreased to around 66%, aligning with most Federal Reserve members calling for rate cuts in March.
Adrian Day's outlook foresees a notable impact on gold-related stocks, with a potential increase of 20-30% anticipated if gold maintains a robust position above the 2100 dollars threshold. However, recent market developments reveal a contrasting scenario as gold miners hit fresh lows in 2024, signaling additional breakdowns in the sector.
As represented by the GDX ETF, senior miners experienced a noteworthy move, closing below a rising short-term support line, thus confirming a new bearish trend. Furthermore, junior miners had previously undergone a short-term breakdown, and the latest observations indicate their movement toward the lower boundary of their rising trend channel.
Day's expectations extend to silver, predicting similar movements for the precious metal as long as gold remains robust. Despite this forecast, the silver markets demonstrated minimal activity during the early hours of Wednesday, leaving investors seeking clarity. The market's proximity to the lower and upper ends of the overall range suggests a potential opportunity for patient investors, though the current lack of clear direction requires careful observation.

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