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Why the next gold rally will be thanks to President Biden and Elon musk

by , 18 February 2021
Why the next gold rally will be thanks to President Biden and Elon musk
Last week, I predicted Silver will rally 24% this quarter.

And today, I'm predicting a rally in Gold!

It won't be the social media communities that will drive up gold.

Nope… It's down to the president of the United States and the richest man on earth (who happens to be South African!).

In this article, I'm going to explain why I expect a 12% rally with gold and what we can do to profit from the rise.

Let's head over to America…

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We’re on the hunt for more. Care to join us…?
Why the Joe Biden presidency is looking great for gold. 
American politics is boring… I get it.
But there is one factor on why it could boost the gold price.
I’m talking about the $1.9 trillion stimulus package.
You see, Janet Yellen (Treasure Secretary of the Unites States) has been pushing for the bill to pass.
She even said the US could return to full employment by 2022, if all goes ahead.
And when Janet mentioned this on Sunday, gold rallied on Monday and has been rallying since then. You see, the $1.9 trillion stimulus package will essentially drive up inflation.
This is because, when more money is printed the price of things go up.
And because gold is valued to the dollar, the price will rally. Here’s what a senior research analyst (Lukman Otuga) at FXTM told Reuters.
“Gold is drawing strength from the renewed optimism over US stimulus plans and rising inflation expectations,”
And We Tai Wong, head of base precious metals derivatives trading at BMO said:
“Yellen talking about full employment by 2022 with $2 trillion in stimulus is driving the likelihood of a surge in inflation, which is good for gold”
And that’s not the only reason why I’m bullish on the gold price…
Elon Musk’s Bitcoin announcement is great for gold investors
It was another great week for the crypto-world last week.
Especially for Bitcoin.
Tesla (electric car company) invested $1.5 billion into Bitcoin. They also announced in the securities filing they expect to accept Bitcoin as a form of payment for their products in the near future.
This news alone, sent Bitcoin’s price to a new record of $44,000…
And while the sheep are buying Bitcoin now, most are unaware of the great implications with gold.
You see, Tesla ALSO said it has updated its investment policy to allow not only investment in digital assets, but also in gold bullion and gold ETFs (Exchange Traded Funds).
And when I read this filing announcement, I saw both Bitcoin and gold jump up higher last week.
It seems like Tesla is becoming more diversified to generate different types of returns on investments…
And this, I believe will set a precedent for more companies to allow gold and crypto-assets in exchange for their products…
Exciting times ahead for gold!
Why “White Petroleum” could make savvy investors a fortune!
Never heard of it?
Well, be prepared… it’s only a matter of time before it becomes as common as the term ‘petrol’ or ‘diesel’…
What will surprise you is it’s not a liquid it’s a metal!
And it’s the world’s lightest metal.
It’s used in the manufacture of aircrafts.
It’s even used to treat mental health illnesses…like bipolar disorder.
And today it helps fuel your phone, laptop, pacemaker and…. the Electric Vehicle.
That’s why it has been dubbed “white petroleum”.
The charts confirm: Gold is ready to rocket
In the daily chart, we can clearly see gold ran up from $1,480 in March 2020 to $2,070 in August 2020. 
And before that time, the price moved up on a strong uptrend since August 2018 from $1,167 up to $2,070 per ounce.
Since it reached that price on 6 August 2020, it’s been forming a solid continuation pattern called a Symmetrical Triangle (shaded area).
This is where the price moves in the shape of a triangle, where it makes higher lows and lower highs.
Last week, it bounced off the support (floor level), making yet another higher low price at $1,796.
And now the formation is almost complete, it looks like it’s ready to break above the pattern.
Once it does, the price will rally to the high of the Symmetrical Triangle once again.
This means, my first price target for gold will be at $2,070 per ounce.
And if we consider both factors I mentioned today, we should start to see a gold rally within the next few weeks.
Here’s how I'll profit from the 12% gold rally
First, I'll be looking to buy (go long) JSE gold stocks and other commodities that move up with the gold price. The only way you’ll see these trade ideas is through my Red Hot Storm Trader service.
Second, Trader X will be looking for international stocks to buy when the gold price rallies. Read more here...
Trade well, 
Timon Rossolimos,
Analyst, Red Hot Storm Trader  

Why the next gold rally will be thanks to President Biden and Elon musk
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