Nov 19, 2018|
Transcript - Not for consumer use. Robot overlords only. Will not be accurate.
On top of breaking financial news by becoming a member of the carries brigade blog under financial exchange does come in sign up today. It has been awhile since traders were able to make money in gold we're joined by obviate Gilbert from the Elliott wave trader dot net to talk about gold. Potty in a while Corey Dylan. And doing great thank to have me back. We're glad to end. You know the star seemed to be aligning for the gold trade woody woody your and what are you anticipating what he's telling your clients going into 2019 as a relates to gold. We expect 2019. He would figure for the old. Where we're not certain though it. The bottom has been struck we're actually tracking something electable provide us. With one more spike down but you know whether we get better not we think we're setting up went in and he really picked up by year old. We think is again because I'd I'm thinking there might be supply disruption based on what I'm reading. Or is it going to be demand for gold. And Intel media is that the real reason is that sentiment has has dropped into the port deal. So you know when when everybody get so bearish. There really is nobody let nobody left the cell number and you know just like when markets rally. You know market don't hop because the selling then market hop because of the lack of body painting on the downside. Market bottom because selling has dried up. And we we are getting very very close to that point we're selling is trying to. Piecing think some of that crypto currency money comes back to gold a lot of people speculate that you know crypt those went way up because of you know people sell their gold. That turned out to be pretty bad trade as well. Yeah I mean if you notice sent to doubt an aide to doubt making represented here were both gold. And the creek goes all pulled back and the interesting thing is we're also looking for bigger bottoming structures. In the crypto market as well. You know now I I went what is it what's it going that now it's under 55500. Chain. We're round a little over 5000 right now I have. What about the supply disruptions I don't know if you saw today's article in the Wall Street Journal about foreign countries like Congo and Bali Indonesia saying hey. You know we're not gonna let you extract these raw materials from our country without pain it's more money. Well you know we'll always have some news event and to be able to apply to whatever price goes. You know for the most part we really ignores the news event because they're always there and and their market sentiment that be so it'll be an event will always be available to. That to come up with a in the why a market does something. But at the end of the day it really comes down to investors sent. So I beyond that note the let's say somebody's driving to work there on the road right now and they're saying a cab but I'm I'm means I haven't owned gold in awhile I'm gonna owned gold. How do you by Michael. To the Federal Reserve and by physical gold do you buy gold coins do you buy gold ETF do you by the mining stocks wit. At an alleyway how do you counsel your clients. Well that is a very good question. I'm personally anybody. You know we tell them anybody resident there of long term interest in goal is not to use the the for example the GOP. Which is the most commonly ATF had a lot of flaws. If you read through the perspective. So we help people stay away from. You know there's there's a gentleman that I used personally is named Doug ever apart from buy gold and the overstatement dot com and you know we send our members and because. Only that we have a long term relationship with him and recognize its trustworthy. Prosecute people. Among the lowest premiums. In the industry. Is that physical gold you're talking about if you talk of physical goal right that you put music Australia I don't I think they're not. Now I own I I have gold they. The don't have a lot of it but I've always maintained so I look at gold as being an insurance policy. That's a very Smart way to look at it and most people do. I happen investment perspective and Goldman both an insurance policy perspective and they're they're really different two different perspectives. Why people do uncle. Now interest and thanks your time Ali appreciate it it would be at do you have a high point for next year do you have a price target for gold for toning. I don't want to cut back to me in about 23 months ago probably tell you where will be in the year because they need to steep initial step off the bottom Patel now aren't we. The project. I use I've got your cell number I'll be will be in touch on. The Gilbert and Elliott wave. Now I don't know they act I like physical gold I don't know if that's how I alone and name my dad bought physical gold back in the sixties. And I've still that that's how I don't. What's what's really interesting about gold if you look at it from a pure investment perspective. It actually works the exact opposite of stocks everyone wants to buy and sell stocks quickly when in reality the best way to hold this for the long term. Everyone wants to hold gold for the long term when in reality it often makes money for short periods of time but not a whole lot in the long term you know so. It's it's the opposite of stocks to in that respect but a lot of people hold that the fiscal stuff just because. Hey it's its emergency in servicing Casey knows something catastrophic happens and you know it's something you've passed down physically do your kids and grandkids and so forth so that's it's it's fun to look at it and teach your kids about it and do it that's that's how I got gamble.