Early this week, my entire focus was on the current earnings season and some of the best stocks to target using my preferred earnings trading strategy.
But today, I’m switching gears because I’ve identified another profit opportunity that you need to know about now.
It involves a portion of the market that I almost never trade, but which I’ll be breaking into in a big way because of the massive potential run that I’m seeing on the horizon.
And the crazy thing is that hardly anyone is talking about it right now.
But it’s not going to be long before the rest of the market catches up.
An Opportunity So Big, I’m Going Out of My Wheelhouse
I’ll admit that I’m not what you would call a “gold bug” -constantly tracking the price of gold and trading around it.
In fact, it’s been nearly two years since the last time I even highlighted an opportunity involving gold to my Power Profit Trades subscribers.
Back then, we were still in the throes of the COVID-19 pandemic, Bitcoin had lost nearly half of its value over the prior four months, and investors had begun pouring money back into safe havens like gold due to all of the uncertainty in the market.
Then, as now – though for much different reasons – there is a ton of uncertainty in the market.
Concerns over inflation, the Fed’s attempt to curb it with rising interest rates, and the resulting threat of a recession (not to mention a host of geopolitical tensions) have roiled the market this year.
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As a result, many investors have been looking for safe havens to park their money and ride it out.
Subsequently, gold has been quietly making a run higher.
Just take a look at the SPDR Gold Shares (GLD) has been doing so far this year…
As you can see, not only has the stock moved up roughly 8% from the beginning of 2023, but it has also begun making higher highs and higher lows, a good sign for continued upward momentum.
Recently, GLD cracked the $185 mark, a resistance level that has now become support and offers us a solid floor from which to make bullish trades.
Full disclosure, I’ve already begun taking positions in GLD. And I’m planning on adding to those if and when it hits the $189 mark.
That’s because I believe that the price of gold has a great chance to exceed more than $2,200 per ounce – just over 10% higher than current levels – in the near future.
And if the fears over a recession come true, the sky is the limit for bullish gold traders as you can bet plenty more investors will be as a recession safe haven.
This is a topic I intend to cover a lot more of in the coming weeks, but I just had to reach out today and let you know about this because I don’t see it being covered much anywhere, despite how huge the profit opportunity this is shaping up to be.
So stay tuned, as I’ll be keeping you up to date on new developments in gold and the best ways to trade it as we go along.
In the meantime, while we’re on the topic of natural resources, there’s another huge opportunity brewing out in Texas.
It’s the greatest oil opportunity of the last 17 years.
Money Morning’s Garrett Baldwin beat nearly every major player to the
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He’s eyeing a frantic merger race amongst 400 oil companies in a small,
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Garrett’s zeroed in on five specific companies at the center of the race
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He wants to share details on all five firms with you today..
Get the full story from Garrett right here.
Until next time,
America’s #1 Pattern Trader