The markets exploded higher yesterday, inducing short covering and panic buying.
Stocks appear to have finally broken above the 61.8% retracement of the March meltdown. This level is typically used to determine whether a post-meltdown move is simply a bear market bounce or the start of a new bull market.
However, we need to see some follow through for this to be a confirmed break. Again, it’s too early to determine if this rally is the start of a new bull market, or if it remains a bear market bounce.
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While stocks remain in a kind of limbo, precious metals, particularly gold, have ERUPTED higher.
Unlike stocks, gold has already recouped ALL of its March losses and is now approaching its all-time highs in $USD.
Even more importantly, this move is occurring in every major currency: dollars, yen, euros and francs.
This is a signal that precious metals are now in a MAJOR bull market. And why wouldn’t they? Central banks have made it clear that they are going to print trillions in their respective currencies to combat the depression triggered by the COVID-19 shutdown.
Historically, gold has been an excellent hedge against currency devaluation. As such, it remains one of the key sectors to invest in going forward.
On that note, we just published a Special Investment Report concerning FIVE secret investments you can use to make inflation pay you (hint they’re all precious metals plays) as it rips through the financial system in the months ahead
The report is titled Survive the Inflationary Storm. And it explains in very simply terms how to make inflation PAY YOU through care investing in the precious metals sector.
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Chief Market Strategist
Phoenix Capital Research