As the new year begins, it’s an ideal time to look ahead…
US $2.50 Indian Gold
And overall, things are looking good…
The global economy is picking up momentum, interest rates remain at low levels, earnings are strong, sentiment is positive and most of our technical indicators are bullish.
Plus, the U.S. dollar is now breaking down again and it’s declined about 10% so far this year. This is actually good for stocks, the economy, gold, the resource sector and commodities in general.
In fact, copper has been surging, hitting a four year high. It’s likely leading the way up for resources and the future looks bright.
After years of low prices, the stronger global economy means greater demand, especially out of China, and better times for the resource sector as 2018 unfolds.
Plus, the tax code changes are expected to boost infrastructure spending, further increasing demand for industrial metals. Since copper is widely used in construction, it’s set to continue benefitting from ongoing demand.
Copper is often referred to as Dr. Copper. That’s because it’s used as a barometer to measure the global economy. And based on copper’s strength, it’s telling us the economy is healthy.
This is bullish action and several of the resources are following copper’s lead.
Crude oil, for instance, is also strong at a 2½ year high. With production slowing, we could see the oil price much higher in the months ahead.
Gold is surging as well, hitting a 3½ month high. It ended the year with an almost 14% gain, which is gold’s biggest annual gain in seven years.
Gold is finally coming alive, after building a base for the past couple of years. It’s again benefitting as a safe haven and it’s poised to head much higher as 2018 unfolds.
We continue to recommend keeping your gold and precious metals positions. All things considered, increasingly it looks like 2018 is going to be the year the turnaround in the metals really gets going.
So stay tuned. This new year may prove to be an exciting one for metals investors.
Written by Mary Anne & Pamela Aden of The Aden Forecast and published by 24hGOLD ~ January 3, 2018.
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