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Our New Bullish Predictions for Gold Prices and Gold Stocks Before 2018

wallstreetexaminer.com / by  • 

This is a syndicated repost courtesy of Money Morning – We Make Investing Profitable. To view original, click here. Reposted with permission.

Bulls and bears kept pulling gold prices in different directions over the last month. Despite rising 0.4% last week, the price of gold is down 2.1% since Oct. 13.

The U.S. dollar’s rally has been the primary reason for gold’s decline. The U.S. Dollar Index (DXY) – which compares the dollar to other currencies like the yen and euro –  is up from 93.09 on Oct. 13 to 94.52 today (Monday, Nov. 13).

But the gold price action is starting to look constructive again…

We know that gold prices tend to put in an interim bottom in October each year since this secular bull market began in 2001. For instance, the metal plunged to a four-month low of $1,252 on Oct. 7, 2016.

Also, if we look at gold’s overall positive years since 2001, we see the average return on gold stocks between late October and late February is an impressive 15%. Given how the Dow Jones Gold Mining Index – which tracks gold mining stocks – is up 10.4% in 2017, I think these companies have much more room to run through next February.

And any reasonable correction in stocks could help to trigger such bullish action. That’s why, today, I’ll share with you my bold forecast for both gold prices and gold stocks through the end of the year.

First, let’s check out last week’s gold performance – and what that says about the price of gold moving forward…

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