By Barbara Kollmeyer Market Watch Feb 8 2017
Investors who have been busy watching stocks go nowhere, and complaining about it, should maybe feast their eyes on another big asset class. Like commodities.
Greg Guenthner thinks gold prices could jump 20% over the next several weeks.
Guenthner says gold’s advance in the first six weeks of 2017 has “perfectly mirrored” action seen in the same period in 2016. The precious metal is looking at its fifth-straight winning session on Wednesday , as signs of instability in Europe add to growing skittishness over POTUS’s political agenda.
“Gold has posted gains of 6% through the first week of February for the second year in a row. In both cases, gold bounced off a late December bottom. And in both cases, the gold rally dipped in late January — only to rocket to new highs at the start of February,” Guenthner says.
And if this keeps up, as his chart shows, gold could be ready to repeat last year’s “epic comeback,” he says.