The August turn in our headline is a specific, dated, checkable call. Armstrong: “We show the support on gold around 3950. I think you got a good shot of this reaching a low this week to next week, seasonally… and you would then expect it to probably rally after this period going into August” (0:00). June lows are the seasonal norm in his work (9:30), so the model and the calendar agree for once.
The bigger warning rides underneath: Armstrong thinks the first crack in the sovereign debt story may come from the Gulf, where states borrowed heavily when Covid took oil to $6.50 and now face servicing debt they can’t sell enough oil to cover (2:53). And his framing for why stocks AND gold can rise together through it: this is a GOVERNMENT debt crisis, and “when the government is in trouble, it’s basically all tangible assets that survive” (12:57).
Support at 3,950 and a rally into August: that call gets graded on the tape, and soon. This interview was published by MINING; embedded here with attribution, SilverTrade didn’t conduct it.
Gold has retreated from its record highs, but Martin Armstrong says the bigger story may be unfolding in global debt markets.
The veteran forecaster argues that sovereign debt pressures are mounting across Europe and parts of the Middle East, while geopolitical tensions around Iran and Taiwan continue to reshape capital flows.
Is Gold preparing to make a MAJOR TURN in August?
