Gold Triggers A Buy Signal

SEEKING ALPHA-- "Looking at the market's response to the coronavirus this past week, I can't help but see that the outbreak in China has exposed a seeming disconnect between the financial markets and science. We don't know how bad the crisis will get or how bad economically it will affect the world. However, stocks have figured out that, regardless of any unprecedented economic catastrophe or epidemic, the central banks can cap the economic impact by simply lowering interest rates in any type of crisis....This leads me to believe that the market has once again taken the position that central banks will save the day, regardless of the crisis. That is concerning, since there is only so much the federal reserve banks can do as we approach zero or negative interest rates. Not knowing the full extent of the damage economically, there is a very high risk in being complacent about the economic indicators, especially since we have never seen this kind of crisis develop before....In September, I published an annual report with gold targets for 2020, with the first target in the $1,655 area and the second target above $1,800....Gold triggered a buy signal for the weekly when it closed at $1,558....Gold is in a major area of support, which is validated by a number of independent indicators...The market appears ready to hold and a reversion to that $1,584 level, the weekly mean, is highly likely."