there is something happening out there and there is Incredible strength for [Music] gold hi and welcome to this video I've got Allan Hibbard with me once again and Allan has a whole bunch of stuff that he's lined up that I don't I I have no idea what he's going to present so Allan what have you got for me hey Mike uh I've got a few things on gold so the price of gold is moving and I did a little analysis and I want to share it with you yeah it certainly is moving I mean we are just a breath away from the


alltime highs so and one of the things that we've shown several times is that once it breaks the you know that we had a triple top and now we're building a quadruple top uh if uh it breaks to the upside there should be a big slingshot move coming yes exactly so basically I've been looking at the price of gold lately I mean who hasn't right but I uh I've got a chart here the first one I want to show you is basically the price of gold over the last 20 trading days which is about 1 month okay and if we just look


at it on its own it's really not that special it's down it's up it's a v-shape it's not like a rocket ship or anything dramatic there really isn't anything special here but I started wondering as we all do has this happened before and can we look at the past to try to predict the future so I decided to take this 20 trading days and run a correlation test over the entire price history of gold every single day and see and see what are the top five times of the past where a shape like this has


happened and then what happened immediately afterwards okay so does the question make sense yes it does this is the reason that you worked on the book with me was because of this type of analysis being able to run a correlation all the way back and and get a result so this is like you're doing a um a spreadsheet query somehow right yes exactly I'll show you a little bit and and again for anyone watching who who knows that a correlation does not imply causation I know that too right so I don't want to


like overemphasize this it was just a fun analysis I put together and the results are interesting enough that I wanted to share it with you and the viewers so here's just a quick snapshot of what the correlation looked like for any Excel nerds out there I have all the data you can see on the left column there's over 13,500 data points the most recent trading day was uh Monday this week November 27th um and basically yeah so so this is the chart over here what it looks like and the formula for the correlation is


very simple it's just you know the last 20 trading days correlated with the most recent 20 days for every single day in the past and you can see that every single day has a correlation there it goes up and down and all over the place and the summary when we look at all 13,000 different correlations and we pick out the largest of them I chose the largest Six correlations it's as high as 90% correlated about 88 89 90% correlated w six six different times um and the the highest correlation


was .90 the lowest was negative. N1 uh and these are the over here in the rightmost column of of the last day of the 20 days that are most highly correlated okay so now I want to look at those on a chart of gold and see what it looks like all together looks like this these green essentially dot they look like dots but I really highlighted the 20 days in green there's one here in 1995 there's three here in the mid-2010s 2016 2017 20177 and then there's two back to back in August and October of


this year and it looks like one giant smudge so these are the top six 1995 three here and two here so so before I explain what I think Mike what do you think about this uh I think it's interesting it looks like you know the well the one back in the the 90s um doesn't appear obviously gold rose uh after that U the you know the sh the correlation to the shape of the last 20 days that we've had in trading um and then uh it Rose but then fell uh in 2017 so um I don't know show show me what you


found okay yeah exactly I mean it's not like there's a a Smoking Gun here I mean sometimes we present we present evidence where it's like wow that's a Smoking Gun this is not one of those cases this is just a curiosity it's just kind of interesting um but I agree the one in the 90s doesn't really feel relevant um it doesn't seem like I mean the price of gold lately hasn't hasn't been like a downward decline yeah as you can see over here it's been this triple top or


quadruple top as you mentioned um so so that one almost feels irrelevant which is why I picked five others and six but yeah even if we go back to the original shape this vshape which is normally not something that gold does it normally has these um like rounded bottoms with spiky tops yeah but we do see those V's every now and then in like a fractal sense you know on a different time scale with a different magnitude but those V's do show up and I mean we've seen this like triple V in the


mid-2010s and now we're seeing another triple V these are basically inverse Head and Shoulders patterns yeah and you know we're we're cont and and it's so interesting there was just one in August there was just one in October and now we're in November I mean they're happening so so soon three in a row and there were basically three in a row here I don't know we could see another another rise up um you know just like we did lead that's actually what I'm expecting and


here we are uh on the you know we're at November 30 today so this is the last day of the month and if they don't get it below 2,000 by the end of the day uh then there's going to be a close above 2,000 and it's a monthly close we haven't had one of those before that will be an all-time high even if the intraday or the daily is not an all-time high the monthly will be uh and so uh uh this is you know it's there is something happening out there and there is Incredible strength for gold so go ahead


and finish your your analysis here yeah so that that's mostly what I want to say about this chart and this analysis I have a few other things I want to share and I think you I think you and I saw the same tweet because you just mentioned one of the things I want to share in a little bit um but yeah when we think about what affects watching the monthly I I do that analysis every so often I go to stock charts and I just put in uh you know daily month weekly monthly so and every once in a while I


take it a look at yearly so yeah definitely so as we think about you know Co correlation and causation and you know what affects the movements in Gold you mentioned you mentioned they if they don't keep the price below 2,000 um you know we'll get a a record-breaking close so I was thinking about what have what have they what have the central Bankers of the past said about gold and so I went and found a quote from Ben bernacki that's 10 years old I have a 5-second video I want to play play real


quick um you know it's part of a longer video it's a minute long but here's what he says about what affects the price of gold nobody really understands gold prices and I don't uh pretend to really understand them either nobody really understands gold prices and I don't claim to understand them either wow uh and he didn't gold is in the cold mine it says when something when there's something wrong with the system that they're trying to constantly manage when they're TR they're trying to manipulate


the system and when they make a mistake it comes back to haunt us but you know what the markets figure that out first and uh uh but gold does tend to almost like store energy and then take these big huge leaps so they'll make mistakes gold will show a little blip or whatever but a bunch of mistakes in a row and then gold will suddenly make a a huge move to make up for all of the blunders that the market manipulators have tried to make but yes they don't understand gold gold is just this you know uh


that's the reason Milton fredman liked it so much is it it just it's this automatic balancing system that uh doesn't rely on any human intervention except for the free market the million the trillions of transactions taking place so what do you get from it yeah exactly same thing and there was another video where uh Ron Paul asked Ben bernacki is gold money and he looks like a deer in the headlights for then he's like no no it's not it's an asset but it's not money right so


anyways he doesn't understand the price of gold but you know well he also doesn't understand what money is because money you know Aristotle defined the key attributes that something has to have to be to function as money it's got to be a medium of exchange a unit of account and a store of value and the US dollar has lost 99% since we you know gold used to be 20 bucks an ounce and now it's 2,000 so in fact today it is almost exactly 99% loss of value in the dollar compared to gold and if you look


at how much house a an ounce of gold purchases uh or you know any stuff it remains in a consistent range of overvalued and undervalued throughout the centuries basically and uh and Fiat currencies uh they they may bounce up and down but the trend is down to where uh there is no fiat currency that makes gains against gold over the long run exactly and to your point if we close today or really any day at $267 267 that would be an exact 99% loss in the value of a dollar you know since the price was pegged so interesting right so


so moving along I just wanted to stick on that theme of uh correlation and causation like what does cause the price of gold to move hi I just wanted to take a moment and thank you for subscribing and mention that if you'd like to help our Channel please consider my company gold silver.com the next time you buy precious metals we're one of the most trusted names in the industry our prices are sharp delivery is fast and we have an insiders program where you find out exactly what I'm doing with my own


Investments thanks for making Golds silver.com your dealer and now back to the video what does cause the price of gold to move um you know we try to explain it in different ways there's an article here Yahoo finance posted from Bloomberg gold inches closer to record high as bets for fed pivot beef up kind of a weird title but basically people are betting that the Federal Reserve will start cutting interest rates next year okay so that's one explanation that we might consider and so if that's true


we might ask ourselves you know what happens when the Federal Reserve stops hiking rates and well we have a chart with that title what happens to Gold when the FED stops hiking rates this comes from Ronnie sterle at incrementum and uh Lawrence here says this is the best chart from Ronnie's recent speech gold smells it get ready so as you can see here uh when the FED stops hiking rates this dark blue line right these red circles are the times that the FED stops hiking rates you can see what happens to Gold I mean it goes up and up


and up every single time I mean I would expect it to happen again what do you think Mike uh well yes I think so and then you know on on top of that we've got all of these uh technical indicators the the triple top the inverse go the inverse head and shoulders and the pan and handle that has been developing since uh 2011 cup and handle pan and handle whatever you want to call it um these things become self-fulfilling there are Traders all over the world looking at these technical indicators waiting for the


confirmation the trigger and that would be a close you know if it if it closes two or three percent above that 20167 uh We're Off to the Races and so we're very very close now you know um I was talking with h a colleague uh step Feldman just the other day and he was talking about you know some people are worried about buying at a high if they buy right now but what's going to happen if you buy right now and then gold does do a pullback and pulls back 50 bucks or something I mean in in


2024 we are destined for much much higher prices and uh the downside risk is very very minimal but the upside potential once we break this uh this resistance the 2067 uh once we have confirmation that this new move is underway I think you're G to see Traders all over the world jump on this thing there's just too many I mean the the pan and handle the inverse Head and Shoulders the triple top which is now becoming a quadruple top and you can see that the energy is building and gold wants to push through it and uh the


thing is uh there's governments all over the the um in the Eastern hemisphere there's lots of governments uh that are trying to accumulate gold and they want to accumulate it at these lower prices but this is one of the support mechanisms that you've got is whenever uh gold goes down significantly there are some really big buyers out there this isn't just a billionaire it's it's governments so uh I see uh almost no downside risk and this is just another indicator that Ronnie has come up with here the end of


uh rate hikes as a a another confirming signal and uh you know this uh goes out in a tweet and it circulates and uh and Traders pick up on this also and it's something that's reinforcing those traders that are sitting there chomping at the bit they are waiting they got their finger hovering right over the buy button and uh they're they're just waiting for this head inverse Head and Shoulders to complete and break the neckline so what's your take exactly yeah basically exactly what you said um


you know we saw that inverse Head and Shoulders that that I pointed out in the in the 2010s um and we see how that finished with a giant move up like massive um and it looks like we're forming another one and and I would expect the same thing to happen and you know as we look at how the price of gold moves I mean in the very short term it could be manipulated in the long term it really can't because like you said the pressure just builds up and eventually it pushes through and the classic movement that we see is these


rounded bottoms spiky tops and you might be able you or they might be able to delay it a little bit but you can't delay it forever eventually we're going to see another one it's only a matter of time right um you know if you this is a linear chart um and so the if if it was logarithmic it would expand all of the uh moves that are down toward the bottom of the chart and they would look just as choppy as the moves up at the top of the chart it looks much choppier up there the move that we have seen since 2019


with this triple top um is is very similar to the uh pause and pullback which was also an inverse Head and Shoulders back in 2008 so put your pointer down at that yeah uh that is a an inverse head and shoulders right there and it was a very good inverse head and shoulders and look at what happened it didn't just normally you draw a line across the neckline so you've got uh the shoulder and then you've got the neckline the inverse head and another shoulder and you take that uh neckline and you flip it upside down


like it's a hinge and that would be the measured move but look at that it did like three times the measured move uh and so uh we are building that same pattern that we built back in 2008 and uh and and you know as soon as I saw the triple top uh and how the um the dip between the second top and the third top uh was a lower dip I go I think this is building an inverse Head and Shoulders pattern so I've been showing that uh for months and months now uh and uh it would be nice actually if it built a little bit more of a


symmetrical shoulder on it so if this went longer but we've already reached a high over just yesterday uh to where it's now it would now be considered a quadruple top and uh and so I think gold could break through right away if they are able to get it under control and get it so it closes below 2,000 uh today uh at the end of the month that sort of gives them them a little bit more time but not much it's not going to make much difference uh sometime I believe in 2024 and so very little


downside risk but there is a big potential of uh missing out if you're not in the game uh right now because it could be happening today uh we don't know exact exactly and that leads me to this now would be a good time to point out that never in the recorded history of mankind has spot gold finished a calendar month above $2,000 per ounce today is the end of the calendar month we very well could break this record and close above $2,000 an ounce that would yeah that' be a record that we'd break


through yes yeah absolutely so um and if that just shows you the um the you know if you take a look at 1980 January 1980 when gold hit 873 intraday 850 on on the close uh but you look at the monthly it's only like a $600 high it's not $ 873 uh that's the reason it sort of drives me crazy when other analysts when they're looking at long-term stuff they don't U use daily or at least put in uh you know in that cell in the spreadsheet that they're generating their charts from the uh High the highest highs and


the high and the lowest lows in the chart so you get actually get the range of what gold is really doing um because um uh all of the monthly charts when a tip for the viewers out there when you're looking at a chart of gold and it includes a 70s bull market go back to your uh last chart there with the okay if that spike in 1980 is as is higher significantly higher like it is on this chart than the spike in 1981 you're probably looking at a daily daily prices instead of monthly if it's equal or if the spike in January


is just slightly less than the spike in inh 1981 if it's about equal then you're looking at a monthly so um just to let every so that everybody can sort of get a hand handle on that uh and so uh yeah we're at we're living through some very exciting times right now and uh today could be a historic day it could be absolutely do you have your Speedo Mike and your body oil get ready they're printing trillions of dollars the American economy here it comes get ready Mike yeah right right


yeah you know um this everybody needs to remember that uh uh gold and silver are money measured in a fiat currency when you print more of that fiat currency eventually the price of the price of the money measured in that F currency must rise and typically these moves if you look at how much stuff the money buys you uh after the one of these accountings which gold has has done for thousands of years gold has been not well not thousands of years of fiat currency but for uh you know several hundred years uh when it comes


to measuring fiat currency gold does a periodic accounting of that it brings fiat currency to account and when it does there is usually a large move in absolute purchasing power how much real estate does it buy how much oil does it buy how much groceries does it buy uh how many shares of the you know how much stocks does it buy um and uh it is in the process of that accounting and it has been since 2001 and every once in a while it it makes this really spectacular move and today it's it's


possible that today is one of those triggered days but you know we'll see we will see yes awesome Mike that's all I have for today so just want to say thanks to you and thanks to the viewers for watching okay thanks Alan and uh we'll see all of the viewers next time thank you very much for watching we'll see you then hi I just wanted to tell you about gold Silver's 111 oce silver giveaway where you can win win win one1 one 1 oz silver bar one 10 oz silver bar and one 100 o silver bar so


enter today and win