Sentiment Is in 'No Man's Land' Despite This Breakout

Despite new highs, sentiment remains in "no man's land" for one precious metal. And that means prices still have much higher to go... [Stansberry Research Logo] Delivering World-Class Financial Research Since 1999 [DailyWealth] Sentiment Is in 'No Man's Land' Despite This Breakout By Brett Eversole --------------------------------------------------------------- Many sectors are soaring lately. And that means a lot of folks are overlooking the gold market... The metal was less than $2,000 an ounce only last month. Then, it jumped to nearly $2,200 an ounce two weeks ago, hitting a new all-time high. But what isn't happening in gold is just as important... You see, sentiment still hasn't gone wild after this breakout. And as I'll explain today, that means much higher prices are possible in the months to come... --------------------------------------------------------------- Recommended Links: ['The Most Valuable Information You Will Ever Get for Free in Your Life']( Stansberry Research founder Porter Stansberry famously predicted the fall of the iconic General Motors... and the rise of bitcoin around $10,000, before it soared past $60,000. Yet even still, he says the story he's telling on March 26 is "without a doubt" the most valuable information you will ever get for free. [Click here for details](. --------------------------------------------------------------- [Something BIG Is About to Happen in America]( The REAL truth behind what's happening in America right now is even worse than you thought. In fact, new evidence points to a secret Election Day shake-up, involving a sleeper candidate for president whom nobody is talking about... a controversial Chinese-owned app... and the most famous celebrity in the world today. [You must see the details for yourself](. --------------------------------------------------------------- Gold prices floundered after hitting their pandemic high. But the metal finally broke out to a new all-time high in late 2023. Prices flatlined for the first few weeks of 2024. Then, they bounced back. Gold has been soaring since mid-February... even hitting new all-time highs along the way. Take a look... Prices jumped as much as 9.7% in the past month. That alone is a rare situation for gold. Over the past 40 years, we've seen only 58 similar rallies that happened within a month. That's just 0.6% of the time... which means this setup doesn't come around often. More important, the good times should stick around even after this rally ends. Check it out... Gold has been a steady grower over the past four decades. Sporting a typical annual return of 4.4%, the metal has handily beat inflation. And it tends to keep moving higher after a surge like today's. Similar setups led to 2.8% gains in six months and 5.4% gains over a year. That's not massive outperformance. But we expect the upside to be higher this time around... Despite booming prices, including a new all-time high, investors are far from euphoric. We can see this by looking at gold's Commitment of Traders ("COT") report. This weekly report shows the real-money bets of futures traders. And it's a useful contrarian indicator at extremes. You'd expect the COT to show extreme bullishness given the big move in gold. But that's not the case right now. Take a look... Gold is on an incredible run higher. But the metal's COT shows most investors are indifferent. Sentiment is in "no man's land" despite the new highs. That won't last forever. Gold prices will likely keep rallying, which will eventually attract new money. That should lead to even more gains before sentiment becomes too bullish and prices reverse. Put simply, gold still has much higher to go before we get to that point. That's why you should consider owning the metal today. Good investing, Brett Eversole Further Reading Despite its breakout, investors just aren't interested in gold. But according to history, now isn't the time to ignore this metal. The recent gains are likely just the beginning of gold's run higher... [Read more here](. The energy sector is soaring today. And based on one technical indicator, it's the early innings of this rally. This bullish setup is one reason to consider owning energy stocks as prices head higher... [Learn more here](. --------------------------------------------------------------- [Tell us what you think of this content]( [We value our subscribers' feedback. 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