As NVDA Goes Up Again This Actually Looks Like A Good Spot To Buy Gold

On Wednesday, NVDA had another up day rallying another 5%, ahead of its coming stock split. It’s all they are talking about on TV and if you want to hear about it all you have to do is turn on CNBC and wait a few minutes and a fund manager will come on telling you it is going to go higher. I was telling people I turned bullish on the stock market back in January of 2023 and thought NVDA would be the new market leader.

I have nothing to tell you about it that they won’t and buying it now means chasing something going up parabolic, which is something I never do or tell others to do. That doesn’t mean it won’t go up more, but I believe in buying and investing with a real strategy and not just buying something, because someone has posted a meme about it or that they are predicting it will keep going up on TV. Maybe it will, but I only care to get involved if it matches my own strategies.

Today, I see a better buying entry point today in gold!

Gold had a dip last week and has really been going sideways now for about six weeks. It’s oversold, in terms of its daily stochastics, now below 20, which now gives it a good entry point on the charts. One could buy the GLD ETF, and put a stop loss on it on yesterday lows, or right below the month of May, and have a good entry point.

It’s trading near it’s 50-day moving average.

In terms of the price per ounce, that May low is right around $2300 and it closed yesterday around $2350.

Really, gold has not dropped at all off of its highs.

It’s held strong - and yes I continue to hold my gold and silver and have not sold any during this recent dip when gold made all-time highs last week.