Gary Savage: The Road Ahead, $100 Silver & $200 Oil – Fueling the Golden Bubble!

Tom welcomes back Gary Savage to the show. Gary is a retired entrepreneur, investor, and the President of Smart Money Tracker Premium. Gary Savage, discusses the challenging nuances of the metals market. Savage warns of the potential for a false rally, as eager buyers rush to capitalize on a recent price action. While admitting the dollar's upward trajectory can suppress gold prices, Savage dismisses the notion that the dollar solely governs gold's cost and predicts gold prices may disregard the dollar after crossing the $2100 resistance mark. He projects the next intermediate cycle will overcome the dollar suppression. He sees potential investment benefits with mining stocks when they dip enough to be undervalued. Gary believes gold prices could retest the $1820 mark, though the trajectory, plummeting to around $1950 or crashing straight onto that level, remains uncertain. An impending four-year cycle low in stocks could trigger a broad market downturn, affecting all sectors, including gold. Gary also warned of a likely false breakout in the stock market and urged market players to keep an eye on the S&P and be prepared to exit if the breakout doesn't materialize. Savage posits an unexpected drop in the stock market, possibly triggered by an unexpected international political event, could spur the Federal Reserve to implement rate cuts and additional quantitative easing. Consequently, this could stimulate a bull market in stocks and gold, culminating in a stock 'bubble phase.’ Additionally, he warns of certain market patterns that signify a bubble in Bitcoin. Despite the recent approval of a Bitcoin ETF, Savage cautioned against the risks of markets surging disproportionately above their moving averages, referencing uranium miners as an example. While examining the uranium mining ETF chart, Savage notes an eleven-month unbroken rally with minimal corrections, but expressed reservations about a potential "false breakout." Savage proposes utilizing stops to help manage greed in this phase of the uranium markets. Predicting significant fluctuation in the oil market, Savage sees the chart potentially forming an extensive 'cup and handle' pattern. At some point he expects oil prices to rally. Eventually, oil prices will reach the projected $200 mark through a slow but steady buildup of value. Rounding up his analysis, Savage urged listeners to be vigilant of market trends. Time Stamp References:0:00 - Introduction0:42 - Metals & Patience3:10 - Gold & Dollar Cycles6:16 - Opportunities?8:10 - Thoughts on Silver9:24 - Signals For Gold/GDX11:28 - Sentiment & Fundamentals13:48 - Equity Market Outlook16:06 - Markets, Fed, & Swans17:54 - Bitcoin Bear Rally21:07 - ETFs & Wall Street23:45 - Uranium & Tops26:55 - Bubble Phase?29:02 - Miners & Bottoms30:46 - Oil, Metals, & Big Moves33:30 - Wrap Up Talking Points From This Episode * Gary anticipates a false rally, positing that eager buyers amid recent price declines often misjudge real market gains. * He cautions that an unexpected international political event could prompt a Federal Reserve rate cut. * The potential for substantial fluctuation in the oil market and higher prices long-term. Guest LinksTwitter: https:/twitter.com/garysavage1Blog: https://blog.smartmoneytrackerpremium.com/YouTube: https://www.youtube.com/channel/UCgiNs7gCxEvgBE1HHvoOKTQ/videosWebsite: https://smartmoneytrackerpremium.com/