Happy New Year. Thank you for all your support in 2015 and wishing you and yours a healthy, prosperous and happy 2016.
Adam Hamilton of Zeal Intelligence has looked at gold’s prospects in 2016 and he thinks the worst may be over for the yellow metal.
He is a newsletter writer and consultant and is an expert on precious metals, commodities and stock markets. He believes gold is undervalued on a host of different metrics and will move higher in 2016 – likely sharply.
Gold certainly had a rough year in 2015, grinding inexorably lower on Fed-rate-hike fears and investor abandonment. But gold bullion is poised to rebound dramatically in this new year, mean reverting out of its recent deep secular lows. The drivers of gold’s weakness have soared to such extremes that they have to reverse hard. The resulting heavy buying from dominant groups of traders will fuel gold’s mighty 2016 upleg.
Hamilton’s research note can be accessed here
DAILY PRICES
4 Jan LBMA Gold Prices: USD 1072.70, EUR 982.30 and GBP 725.02 per ounce.
31 Dec LBMA Gold Prices: USD 1062.25, EUR 974.32 and GBP 716.36 per ounce.
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