U.S. Dollar Index Falls to 5-Month Low

The U.S. Dollar Index (DXY) has just hit a new 5-month low of 100.874 and could be getting ready to collapse below its key support level of 99.578.

When gold surpassed $1,000 per oz for the first time and hit $1,032 per oz on March 17, 2008, which was equal to 4.06% of M2 Money Supply Per Capita, the DXY was at an all-time low of 70.678!

Between March 17, 2008, and September 5, 2011, as gold rallied to a new all-time high of $1,895 per oz, which was equal to 6.23% of M2 Money Supply Per Capita, the DXY was acting as a headwind for gold by strengthening at the same time as gold!

With the DXY likely to decline dramatically in 2024, it will act as a tailwind for gold in a way similar to 1976 through 1980 when gold rallied by 725% from $103 per oz up to $850 per oz! When gold hit $850 per oz in 1980, it was equal to 12.95% of M2 Money Supply Per Capita. Today, 12.95% of M2 Money Supply Per Capita of $61,814.13 would value gold at $8,004.93 per oz!

Augusta Gold (TSX: G) will likely be long acquired for $15-$20 per share by the time gold hits $3,000 per oz.

Look for G to become one of the market's largest percentage gainers of January 2024!

We also expect Almadex Minerals (TSXV: DEX) to rise throughout all of 2024!

The only U.S. listed stock that has a 1,000% chance of making large gains in 2024 is Zedge (ZDGE)!

ZDGE is the only U.S. listed stock that NIA is bullish on!

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 224,200 shares of G 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.