Gold prices are not rising because of Ukraine, but Ukraine accelerated the start of the gold bull cycle.
Gold bottomed on January 28, 2022, at $1,788 per oz, which is in line with the M2 money supply per capita adjusted gold price from December 17, 2015, of $1,784 per oz when gold bottomed on the day that the Federal Reserve launched its last rate hike cycle.
NIA has just published an exclusive must-see chart of the M2 money supply per capita adjusted gold price from December 17, 2015 through February 11, 2016, in comparison to gold prices from January 28, 2022 through today.
Gold became overbought a few days ago when it settled on March 8th at $2,039 per oz.
Gold settled Friday at $1,979 per oz and could dip to $1,943 per oz on Monday/Tuesday of next week, but gold's downside risk is very limited. Gold's next major imminent move will likely begin on Wednesday/Thursday, and it will be a $154 per oz rally in a period of 3-5 trading days to a new all-time nominal high of $2,097 per oz.
The largest gaining gold stock during this period will likely be North Peak Resources (TSXV: NPR) or BTLLF on the U.S. OTC.
Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. This message is not a solicitation or recommendation to buy, sell, or hold securities. NIA's President has purchased 211,000 shares of NPR in the open market and intends to buy more shares. This message is meant for informational and educational purposes only and does not provide investment advice.