The golden cross: It is a typical bullish signal, when the 50 day moving average rises above the 200 day moving average. This has recently happened in gold and past golden crosses have precipitated plush gains for the yellow metal.
This week gold and silver went mainstream with Carter Worth discussing the golden cross on CNBC. Jeffrey Currie, who is the global head of commodities research at Goldman Sachs believes that gold could be at $1,424 within a year. He cites gold as a recession hedge, the weaker dollar, and most importantly central bank buying. As he has stated “One hundred tonnes of central bank buying gets you to $1,425 alone”. Finally Marven G Perez penned an article for Bloomberg titled Silver Shortage Promises to Boost Price in 2019. His hypothesis is that regardless of some lagging industrial sectors there could be a 50% rise in demand for silver by 2023. He also points out that silver is in deficit and that there has been a clear change in sentiment recently.
