For most of us, November ushers in the holiday season. Our lives begin to focus on friends and family as we try to step back and catch our breath. We finalize our plans to gather together and undertake the uniquely American ritual of eating turkey once a year (we’re not quite sure why we only eat turkey once a year because, frankly, it’s pretty darn good). Mix in a little football and we’re good to go! No sooner is the turkey digesting than our thoughts turn to lights and candy, trees and gifts. You can admit it, some of you put up your Christmas tree right after your Thanksgiving meal (at least two of our team members do). Then, before you know it, we’re watching the clock strike midnight as a new year arrives.
In our last X-cerpt, we talked about how the world is rapidly changing. Reality is, even when we try to slow life down and enjoy the holidays, it still moves at a breathtaking pace. Between now and the new year, we hope that your conversations with friends and family are such that your relationships are deepened and strengthened. After all, these are the people with whom you are going to navigate the coming paradigm shifts in the world as whatever ends up being the “new normal” begins to take shape. While we all move toward that future, one thing we are certain of is that it will indeed be something “new” – a world none of us has lived in before.
At OWNx, we look forward to that world with anticipation. The road will be bumpy at times, maybe even chaotic. Thus, we are having intentional, relationship-building conversations with our family, our team members (who are an extension of our family), and our business partners and associates. In some ways, we see these X-cerpts as a way to start that conversation with you, our client. Our commitment is to continue to connect people and gold (and other precious metals) as a means to maintain personal financial stability regardless of how it all unfolds.
As we said before, the good stuff is yet to come. Enjoy your friends and family. The next time we’ll talk it will be 2020!
All the best!
Jeremy Brakenhoff, CEO & Josh McCleary, COO
In our September newsletter, we discussed how the long-term breakout in gold and silver had been confirmed.
(Chart from September newsletter)
We then said that while this was great news, be ready because "There will be pullbacks!" As you can see, we are in the process of that happening. This is very good for the long-term health of this new bull market.
As this consolidation phase continues to mature, levels of support and resistance will help determine possible intermediate price movements. Right now, the market is approaching the first level of support in the $1,450 range. Much stronger support is in the $1,375 range. Critical support is the uptrend line established from the December 2016 bottom. With all of this said, remember that, at OWNx, we do not provide guidance on intermediate and short-term price movements. We've continued to provide commentary on precious metals prices for several months now because of the importance of this long-term change in direction.
The downturn in the precious metals markets from 2011 to 2016 was hard to endure. We now want to focus on providing a smart, simple platform for our clients to manage their holdings as the next phase unfolds.
Spotlight: Keeping Things Simple
Because we are in both a consolidation phase in the precious metals markets, and a time when people are preparing for the holidays, you may want to consider simplifying things by using our platform to automatically make purchases for you, as well as aggregating information from your favorite sites in one easy-to-use web-based application.
The OWNx office will be closed on November 28th and 29th for Thanksgiving, December 24th and 25th for Christmas, and January 1st for New Year's Day. Also, note that OWNx will be operating with limited phone support between December 23rd and January 1st.
With that said, as always, the OWNx precious metals platform will remain open!