More From Mish’s Outlook 2024-Gold and Silver

December 24, 2023

Mish's Daily

By Mish Schneider


A passage from the Outlook

For last year’s Outlook I wrote, “Perhaps our biggest callout for a major rally in 2023 is in gold.

Here we are over $2000 and although gold has not doubled in price, it did rise by 25%.

For 2024, we stay with our call for higher gold prices. I am looking for a move to $2400 provided gold continues to hold $1980.

That statement was from December 1st.

Adding to that statement:

Trends for 2024-gold and silver start their last hurrah.

Here are some updated thoughts to add to the great content of the Outlook (which we highly recommend you get your free copy of)

More…

The look of the daily charts in both gold and silver show even more potential in silver for the coming year.

Gold has hit resistance and remains an underperformer to SPY.

Gold sits still at the highs like a quiet blanket of safety.

Silver has yet to hit resistance.

If it can take out 23.40, we see no reason why 27-30 is not attainable.

Regardless, have a look at the Outlook to understand more fully why these metals need to be a part of your investing plan.

Click the link below to get your free copy of the Outlook 2024 and stay in the loop!
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Mish in the Media - All clips here

Yahoo Finance Mish discusses gold silver and why self care and all about me can trend in 2024 12-22-23

 

Coming Up:

December 27 Wrap up extended session Benzinga

December 28 Singapore Breakfast Radio

January 2nd Final Bar Stockcharts Dave Keller

January 5th Daily Briefing Real Vision

Weekly: Business First AM, CMC Markets

 

ETF Summary

S&P 500 (SPY) 480 all-time highs 465 underlying support

Russell 2000 (IWM) 200 pivotal and 194 support

Dow (DIA)  Needs to hold 370

Nasdaq (QQQ) 410 resistance with support at 395

Regional banks (KRE) 47 support 55 resistance

Semiconductors (SMH) 174 pivotal support to hold this month

Transportation (IYT) Needs to hold 250

Biotechnology (IBB) 130 pivotal support

Retail (XRT) The longer this stays over 70.00 the better!

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