Is gold in a new bull market? A panel discussion
The document below was sent to me by our friend over in Germany Ronni (Ronald-Peter Stöferle), Managing Partner and Fund Manager at Incrementum AG. There are a number of well known investing individuals on the Incrementum board and last month they got together to discuss the gold market at their board meeting. The full transcript can be downloaded at the bottom of this page.
Guests include Brent Johnson (special guest for this meeting) as well as regular members Jim Rickards, Heinz Blasnik, Frank Shostak, Mark Valek and Ronald Stoeferle. The topics discussed include:
- Turning tides: have we seen the end of the dollar bull market?
- Jim Rickards’ new book: “The New Case for Gold”
- Equity markets: Are we going to see a classical sell in May?
- The potential of a full blown US recession.
- An inflation outlook for the world.
Click here to download the full transcript of the meeting.
It did not even break 1270 Bob. The move is feeble even on the hourly chart. If it breaks through however I really doubt it can exceed 1292 on a bounce so i am not concerned at all that anything has changed. Markets breathe…that’s what we know factually and expect.
The trending direction remains firmly down.
Check the gold chart now Bob. I was right. Price has put in a reversal candle already and still not hit 1270. So its back down she goes.
Bite my tongue….it is a little over 1270. Not much but its there.
Was thinking of nibbling on a little DUST Birdman.
It’s not that well behaved. Gold was up .25% and Dust fell 10…..so it just goes to show there is still a big appetite for Miners and guys are buying this dip. Obviously with the assumption the future is bright for the sector. Which is not to say they are right but that’s the market.
My take is still that gold is going down and will take the miners with it but what happens in a general sense is not necessarily what will happen on a day to day basis. So we could still get a bounce. I really can’t tell for sure right now.
Yeah, I had my finger on the button for a 1,000 shares but I chickened out. Looking at today’s action we could see gold bid up in Asia overnight or simply GDX go up further tomorrow.
So I decided not to buy. I still have a hunch that we could see nearer $1.30 again.
I would be careful, Bob, Bird is actually right about the big appetite for the miners. The fact that the miners did so well while gold hardly moved is a very bullish sign.
My dozen+ juniors finished up more than 5% today.
Yep, a good indicator today of people buying the dip. Probably was Doc 🙂
Here’s what I said about 24 hours ago:
On May 9, 2016 at 1:20 pm,
Matthew says:
Gold still looks better than just fine to me. I welcome the recent dips as they serve to quickly reset sentiment to levels that are MUCH healthier for the bull.
I talked about the significance of the 233 week EMA (approx. $1258) for weeks prior to the break above it and now it looks like we will see it tested from above before gold goes higher.
Looks good so far…
Looks like you, me and EX are still standing Bulls
Plus this lowly archdeacon Marty even if he’s all but gone away in May! Best, A
Matthew knows how to navigate the junior resource market better than anyone on this forum, he knows when to buy and more importantly when to sell, he has I would say an altogether normal desire to get rich quick. DT
What do you think of corn and beans today Matthew? I would say some pretty strong moves.
Pretty impressive! Look at the volume:
Isn’t it funny how a true bull market acts when it is not manipulated!
soy sauce going up………..
Of the six guys in that report I can only agree with Brent Johnson who seems to be the most grounded in reality. Rickards is still busy talking his book and is locked into a model of his own making. The others appear to be speaking in terms of popular concepts that are not proving valid even though they are convincing. There should not be any question that a debt bust is going to deliver deflation in the Developed World that is quite severe and this will impact negatively on all commodities including gold and silver.
Rickards………has a new plan out…………Hot stock tips….not only the book, but, you can subscribe to his new micro mining stocks tips , which will gain 2600%, in lieu of gold.
Bird: You are a logical guy. How have you missed the fact that all commodities crashed from mid-2011 until Dec-Feb 2016? It was one of the most brutal and longest lasting commodity crash in history. We have had the deflation. It’s behind us.
HUI………….up nicely…….today…….up $8.49……gold only up a $1….
Miners looking good………..thanks matthew for the heads up
Silver Crest metals looks unstoppable.
Silver has some catching up to do………..silver miners should do very well….jmo
My 8000 shares is reduced to 1500. 4000 @ .94, 2500 @ 1.14. Looking to buy in @ .646
Well, it just spiked up.