Wednesday, January 18, 2017

Turning Bullish On Gold Again

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*Our last bullish piece on gold was August 16th. Since then, we've been bearish.

*We're turning bulls again.

*Many factors give gold a window to do well. We're not yet sold on gold longer term though.

Review Of Our Calls
On August 25th, we went from being bullish to bearish:
"The Fed increased their hawkish tone over the last two weeks. That likely means they are aligned to hike rates. The initial reaction to a hike in rates would be to sell inflationary assets like gold."
Previous to that call, we had been bullish.
Since that call, we had been bearish initially based on the Fed turning more hawkish. Gold had a huge multi-year run, thanks to record easing from the Fed. That change in tone was expected to cap gold.
In December, our Premium Members (Pay Wall) saw us turn bullish for the first time fundamentally, despite our technicals still pointing bearish.
"We are staying bearish for now because of our model but the fundamentals could swing short term positive if there is a slowdown in the economy."
While some economic numbers had been turning up, our main indicator, US jobs, slowed in December. A slowdown, while most were looking for a pickup, could help gold.
Now we see fundamentals and technicals pointing up.


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ETFs reported by Elazar Advisors, LLC are guided by our weekly and monthly methodologies. We have a daily overlay which changes more frequently which is reported to our premium members and could differ from the above report. Portions of this article may have been issued in advance to premium members. All investments have many risks and can lose principal in the short and long term. This article is for information purposes only. By reading this you agree, understand and accept that you take upon yourself all responsibility for all of your investment decisions and to do your own work and hold Elazar Advisors, LLC and their related parties harmless. Any trading strategy can lose money and any investor should understand the risks.


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