Geopolitics pushing gold higher but a Fed statement tomorrow could have the PMs moving lower
Dave Erfle, Founder of the Junior Miner Junky joins me to look at the bounce in gold this week on the back of the oilfield bombings over the weekend. The bounce in gold and silver is nice to see but has not been a skyrocketing move. There are a couple reasons for this which we discuss. Still all eyes will be on the Fed statement tomorrow and with the set up in US markets and some of the recent data we could see a more hawkish Fed even with a rate cut.
You can even hear baby Gigi in the background at the 8-minute mark sharing her thoughts š
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Has Mid-tier Gold minersā Bubble Been Burst?
Sep 17, 2019 – Kitco #VIDEO interview
“With the mega mergers creating two of the worldās largest miners, there may still be an opportunity for mid-tier miners to find quality assets of their own, said Randy Smallwood, CEO of Wheaton Precious Metals.”
āThereās still, within the mid-tiers and the single-asset companies thereās still a lot of good opportunities, and certain markets have more strength than others. The Australian market has shown some real strength,ā Smallwood told Kitco News…
IF the Fed’s words are bad for gold, the downside will probably be a quick move to 1450-1460.
GLD:
https://stockcharts.com/h-sc/ui?s=GLD&p=W&yr=5&mn=0&dy=0&id=p05525577480&a=688605966