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Silver To Lead Gold In 2016 – Stewart Thomson

Original newz story - Click here

India continues to move closer to a massive 80% chop in the gold import duty.
The news for silver is, arguably, even better than for gold!
Indian imports of silver have been surging, and are approaching 8000 tons on an annualized basis. The import duty applies to silver as well as to gold.
A chop in that duty could lead to even bigger demand for silver.

Submitted by Stewart Thomson, Graceland Updates:

As 2015 comes to an end, gold feels solid. There are many factors coming into play in 2016 that should incentivize investors to add to their positions, and do so with comfort. Please click here now. Double-click to enlarge this daily gold chart. A week ago, I suggested gold was forming a key inverse head and shoulders bottom pattern. The pattern has two heads, and a bit more work may be required to complete a right shoulder in the $1062 area. Overall, I like the technical action, and Chinese New Year buying is likely the fundamental catalyst that can launch a nice January rally. Please click here now. Inflation is suddenly on the move in Saudi Arabia, and in a country that already embraces gold, that’s going to add to demand. The Saudi government has announced that the price of gasoline with an octane content of 91 will be hiked by about 66%! The government’s budget deficit is approaching $100 billion, and FOREX reserves are sinking. Ominously, as the financial situation of the Saudi government deteriorates, the risk of civil unrest grows. Will a terrible crisis in Saudi Arabia be the trigger of the next global financial meltdown? I don’t know, but I do know that it’s critical to own gold bullion before geopolitical risk gets out of control. Please click here now. Double-click to enlarge this important US dollar versus Japanese yen weekly chart. If Saudi Arabia does tumble into a crisis, US dollars and US bonds may not be the safe haven they were during the 2008 financial crisis. Incredibly, the dollar began losing upside momentum against the yen a year ago, in spite of unprecedented QE in Japan. There’s a big head and shoulders top pattern in play for the dollar on that chart, and it’s testing a major uptrend line that extends back to 2012. Also, Janet Yellen is trying to raise rates with experimental tools, and if her experiment fails, money could pour out of the dollar, and into gold and the yen! It’s important for gold investors to be proactive rather than reactive. A lot of US stock market investors were badly burned in the 2000 and 2008 meltdowns, and they reacted by buying gold. They bought general equity stocks before those meltdowns, also as a reaction, to low rates. Investors should only react to price changes, and do so with modest buying on declines. Price rallies should be used…