Scary Price Drop! It's GAME OVER For Gold & Silver When This Happens? - Chris Vermeulen

A massive decline followed in 2008, so the implications are, of course, very bearish for all those markets, including world stocks.
Spurred by the 9/11 attacks and the geopolitical instability which followed, Gold's bull run during Bush's presidency from 2001 to 2009 could've been even greater had the 2008 global financial crisis not occurred. Instead, fear of deflation and a flight to the safety of the US dollar resulted in a 30% dip from the peak to trough of gold prices in 2008.
Internationally recognized technical analyst Chris Vermeulen states that Gold may face a 25-35% pullback after reaching the 2,700-dollar range, similar to its 2008 performance. He advises caution when buying Gold now, expecting better opportunities later. Notably, Gold's strong performance during market crises, such as the 2008 financial meltdown, highlights its value as a defensive asset during turbulent times.
Regarding Gold's performance, Chris notes that while it has risen steadily, it hasn't reached an overbought state or attracted excessive buying. He suggests that Gold is approaching its peak based on long-term technical indicators. Commodity analysts who make long-term forecasts believe that the price of Gold will generally keep rising in the next few decades as the demand for the precious metal increases.
In a research paper recently published in the journal Trends in Ecology and Evolution, Josep Peñuelas, a research professor, warned that by 2050, the world could run out of essential metals, including Gold.
Despite Gold's all-time highs, Chris points out that miners remain underperforming due to rising extraction costs. He predicts that the sector hasn't fully gained momentum yet and expects GDX to drop 15 to 25 dollars in the event of a financial reset. Experts like Peter Schiff also state that 'Gold has set to have its best year since 1979 when it rose 126%. Yet the GDX is only up 31%. That means investors still haven't noticed the bull market or added mining stocks to their screens.
During the interview, Chris Vermeulen expresses surprise at the Fed's 50-basis-point rate cut. He predicts this has sparked a "buy the rumor, sell the news" reaction in bonds. From a technical viewpoint, Chris underscores that after the rate cut, he shifted from bonds to equities, expecting short-term gains. Traditionally, big Fed interest rate cuts and equity prices hovering near all-time highs are ominous signs for the stock market.
Despite large Fed rate cuts typically signaling a recession, some analysts believe the market is set to benefit from an unusual best-case scenario, even with record-high stock values.
Detrick's analysis shows that when the Fed trims rates to bring them back to normal after a flurry of rate increases, the S&P 500 climbed an average of 13.2% in the following 12 months. That's mostly why Fed officials say they're bringing down rates now.
However, he predicts that rate cuts signal deeper economic issues, and he's bearish on the market long-term, anticipating a significant correction within a year.

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