Gold price just soared by over $40 in a parabolic manner as Israel issued a warning urging Palestinians to immediately flee to South Gaza. This looks like the final warning before Israel’s military attack.

Gold just soared over $40 in response, and if the attack starts, it can rally more.

Since I just wrote that “a rally in the precious metals sector in the very short term is quite likely here”, you have been warned and prepared.

The current technical picture remains intact as well, and the upside targets for the GDXJ ETF ($34.5 and $35.7 with the quite likely turnaround date close to Oct. 20) remain up-to-date.

The only thing that today’s sharp rally in gold changed is the upside target for gold, however, since I wrote that I wouldn’t be surprised by even a jump to about $1,960, the change is not significant.

Taking profits from the short position recently was indeed a good idea. It seems that we’ll be able to re-enter those positions at higher levels (quite possibly next week).

As always, we’ll keep you - our subscribers - informed.

P.S. Please keep in mind that the possibility to extend your subscription for up to three years (at least by one year) with a 20% discount from the current prices is still open.

Locking in those is a great idea not only because it’s the perfect time to be ready for what’s next in the precious metals market but also because the inflation might persist longer than expected, and prices of everything (including our subscriptions) are going to go up in the future as well. Please reach out to our support – they will be happy to assist you and make sure that your subscription days are properly extended at those promotional terms. So, for how many years would you like to lock-in your subscription?

Thank you.

Sincerely,
Przemyslaw K. Radomski, CFA
Founder, Editor-in-chief