Florian Grummes: The Set Up For an End of Summer Gold Stock Rally Could Not Be Better

Collin Kettell July 9, 2017
Category: Palisade Videos

Florian has been interested in the gold and silver markets for several years. Six years ago he began writing for a large European bullion dealer, publishing in-depth technical analysis. He looks at mining stocks, fundamentals, and cryptocurrencies.

We are building a good base for a spectacular second half of this year; people are in a state of panic and sentiment is at the bottom. Seasonally this is the most bearish time of the year. No clear turn-around signals yet, he would not be surprised to see gold rebound from these levels. He cautions that the US dollar is ripe for a rebound, but that is the only thing that is potentially negative, everything else looks increasingly bullish.

Gold could easily move between $1165 and $1265; it’s in a huge triangle going back six years. Once it breaks $1265 that will be a very bullish sign for a multi-month rally which will likely take us to $1500 by next spring. He thinks most of the pieces are in place for a strong second half of the year.

He thinks US Gold (NASDAQ: USAU) is a very interesting company; they have an outstanding geologist, the management and location are good, they have an excellent plan in place for the next two years.

He discusses the cryptocurrency market, how we are moving more and more into a digital society, it’s obvious that we need digital money. There is a lot of innovation in the space. He points out that both cryptos like gold and silver are outside of the banking system.

DISCLOSURE: Palisade Global Investments Ltd. (“Palisade”) owns shares 179,211 shares of US Gold Corp. (“Company”) and has been paid by Company to provide marketing, awareness, and distribution services. Palisade may profit from its promotional activities for Company. Palisade may sell shares at anytime of Company. Palisade covenants and agrees that it will at all times engage in acts, practices and courses of business that comply with Section 17(a) and (b) of the Securities Act, as well as Section 10(b) of the Securities Exchange Act of 1934, as amended, and has adopted policies and procedures adequate to assure all of Consultant’s personnel are aware of the limitation on their activities, and the disclosure obligations, imposed by such laws and the rules and regulations promulgated thereunder. We are biased. Do your own due diligence.

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