Gold The "Go-To" Asset Class

Gold has become the "go-to" asset class amid all the crosscurrent trade, financial, and geopolitical turmoil by investors of all stripes, including and most importantly, the Central Banks. U.S. paper assets are under liquidation, which also means that the Dollar is weakening as well.

Unless and until that changes, which to my way of thinking will not be resolved over the near-term time horizon, gold will attract steady and increasing demand that could drive it considerably beyond $3,000/ounce. 

The Gold Miners represent companies that will benefit from rising gold prices and their in-ground valuable "real" asset.

Technically, my pattern work argues that both GLD and GDX ended significant pullbacks at their respective April 7th lows of 272.58 and 40.26, respectively, and now are in the grasp of a new upleg that project to new ATHs well above 289.14 and 46.94.  Rising volatility at the outset will require stops in GLD below 272 (see my attached Daily Chart) and below 39.00 in GDX.