You don't want to miss Mish's 2023 Market Outlook, E-available now!
From page 55 of How to Grow Your Wealth in 2023:
"Overall, the gold futures have the lion's share of our interest, (as referenced earlier in this Outlook). We wrote about the silver/gold ratio and how, classically, that has been a reliable indicator for inflation. Our thesis, though, is that both do well, but gold explodes higher and faster."
The weekly chart in SPDR Gold Shares (GLD) has cleared the 50-week moving average, with a strong finish for the first week of January.
We predict gold prices could double!
With central banks' failed policies possibly leading to more economic chaos, added the weakening of the U.S. dollar, and you have just a couple of market drivers to look for.
Several factors, including inflation, industrial demand, low inventories, market tightness, and the gold-silver price ratio being at near historic levels, lead management to believe Silver's price is also likely to increase dramatically in 2023.
"Both gold and silver are in bullish weekly phases. Both well outperform the benchmark. Both have a lot of upside to go in momentum. Should the 50-WMA in Real Motion crossover the 200-WMA, then that would be the final technical indicator to suggest much higher prices to come. I am going to go out on a limb here and say that gold can see $5000 an ounce by 2024." -- How to Grow Your Wealth in 2023
And that's not all we predict.
In our ten macro themes with visual perspectives, we cover geopolitical challenges, climate change, inflation pressure, social unrest, and government expenditures, to name a few.
Furthermore, many of our top picks have already begun to make big moves--and that is just in the first week of the year! Names like TECK Resources (TECK) and emerging markets such as Mexico (EWW) had an explosive week.
Last year, many investors were caught unaware of the impact higher interest rates would have on the indices and overall equity markets. But not us. We closed out the year in the green. And after this past week, we are up substantially-already well outperforming the S&P 500.
We wrote this e-book to help you have a very profitable 2023. We wrote it to give you direction and to help you tune out the media noise. Unlocking your potential for profiting from these trends could be easier than you think.
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"I grew my money tree and so can you!" - Mish Schneider
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Mish in the Media
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ETF Summary
- S&P 500 (SPY): 384 support, 392 resistance.
- Russell 2000 (IWM): 172 pivotal support, 180 resistance.
- Dow (DIA): 330 support, 337 resistance.
- Nasdaq (QQQ): 265 support, 272 resistance.
- Regional Banks (KRE): 56 support, 61 resistance.
- Semiconductors (SMH): 205 support, 216 resistance.
- Transportation (IYT): 208 pivotal support, 215 now resistance.
- Biotechnology (IBB): 130 pivotal support, 138 overhead resistance.
- Retail (XRT): 60 pivotal support, 66 now resistance.
Mish Schneider
MarketGauge.com
Director of Trading Research and Education
Wade Dawson
MarketGauge.com
Portfolio Manager