Can we depend on the Fed and it’s easy money policies to save gold?
Brien Lundin, Editor of the Gold Newsletter joins me for a discussion on the Fed’s monetary policy. It seems like everyone expects the Fed to get even more dovish, but what they go the other way?
Click here to learn more about the Gold Newsletter and keep up to date on Brien’s commentary.
Brian L, it’s not speculation on the COMEX, ITS THE DARK SIDE AND RULERS OF WICKEDNESS IN HIGH PLACES controlling that Cazba
Matthew, I just sold more RDS and bought more ESKYF@1.45. What. do your charts tell you about Eskay? Thanks.
Bonzo, I hate to say it but it’s bearish. If the sector doesn’t turn and move up strongly, you could see it drop as much as 40% from here.
There are also some supports at 10% and 20% lower…
https://stockcharts.com/h-sc/ui?s=ESK.V&p=D&yr=1&mn=0&dy=0&id=p36031952794&a=914987976
Sorry, stockcharts doesn’t support the US listing for some reason.
Thanks, Matthew. I am counting on the sector turning higher strongly. I won’t sell ESKYF as I think this summer will be an exciting drill season. If it does fall 20 or 40% I will buy a lot more. Do you prefer TLRS, LOMLF, or DOLLF?
I like DOLLF followed by LOMLF.
-40%. I got to remember that.
bonzo , that $1.45 was my buy point as well. Way to go!
Marty, it’s a good thing I bought that Eskay@1.45 before I heard from Matthew! it closed @1.71 so now I’m glad I got it this morning. Even if it drops 40% near term I think it will be a 10 bagger in 3 years.
Bonzo, the rise from 1.45 to 1.71 was due to Matthew dipping in.
😲
Wow, very nice reversal to save itself from an ugly close. It’s still risky though. The weekly chart shows big distribution volume at the high last month and a MACD (among other things) that will still cause some to sell for safety.
https://stockcharts.com/h-sc/ui?s=ESK.V&p=W&yr=3&mn=11&dy=0&id=p43737683007
BOOM
POW
There they go again, right back down the hill.
All those PM stocks you own right now? Look at the 1 year chart on them.
They WILL be going back to their lows of last March.
Sell now… unless you like watching all your $$ go up in smoke.
Hey Joe, BOOM, KAPOW, BIFF, SPLAT, if you can’t beat them join them! LOL! DT
D.T :
Your comment about this being a traders market has been spot on for some time now.
John: Traders are Traitors, but yes, this is a traders dream market. DT
What happened to the massive cup and handle everyone was talking about?
Doc sure didnt make PMs sound good.
I was wondering if gold we wouldnt get a “look out below” experience if gold broke 1700, so far its just my mining shares that are taking the beats.
The handle is still working out………for a real cup and handle to work…..the handle needs to be at least several weeks….
Does that fit with docs prediction of down down down struggle ouch stuff?
Can not say for sure, since, I have not been following Doc…..
Picked up some Golden Predator (NTGSF) @ $.135, Lake Stage Developer, Yukon, 185 million shares, Eric Sprott/ McEwen Share holders,
Growing Trees:
I like the chart on NTGSF.
Barchart.com has it listed as a strong sell which I use as a buy signal. I would like to see some consolidation before I would buy in.
I’m sure Eric and McEwen would be more than happy to sell you some of their warrants.
I am okay with it, did not a position, coming back close to March lows.
This is the kind of consolidation I’m talking about.
https://www.barchart.com/stocks/quotes/CELZ/interactive-chart
I’ve deployed the majority of my dry powder over the last 2 weeks, and decided to throw most of the rest of it at today’s market action this morning across a few different sectors. I also raised a bit of funds by trimming back Azarga Uranium and Novo Resources.
So far today, I’ve added to Silver positions in Silvercrest, Silver Tiger, and Alexco; to Gold positions in Minera Alamos and Jaguar Mining; to Uranium positions Energy Fuels and Ur-Energy; to Lithium position Lithium Americas; to Psychedelic Therapies position Mind Medicine; to Cannabis positions via ETF (MJ), and I finally started a position today in IM Cannabis [hat tip to Wolfster for bringing that one to our attention].
The day is still young and I have about 2.5% funds still available to deploy, and have considered bolstering some PGM/Nickel plays like Group Ten, or Platinum Group Metals, Grid Metals, Generation Mining, or New Age Metals, but haven’t pulled the trigger on those yet… Santacruz Silver also has pulled back nicely and looks compelling to add down here, as do a few other silver stocks.
Good luck to everyone here at the KER in their trading and investing in these volatile markets.
Ex, I am surprised you sold NOVO today. I sold some RDS and bought more ESKYF@1.45, but Matthew thinks it could fall 40%. OMG!
Bonzo – I’m a big fan of Novo, and didn’t sell it completely, just chopped it down by 40% since it was up nicely on the move into production and Bob M’s book to help promote the story, and many other stocks are down in a big way, and seem like better short-term value. Once some of the other positions I have turn up for some profitable trading, then I plan on rotating funds back into Novo Resources for the long-term story.
I think I bought your Novo. Santacruz looks good as it has been plundered. Back to the drawing board. Southern Silver and Vizsla are bleeding. I see Group Ten and start drooling but I got to stop that.
David, you don’t really want Group Ten, Do You! LOL! DT
I keep adding…got to stop. Got enough…what’s the price?
All good stocks David. I still hold 60% of my Novo position, and Santacruz is a bigger silver position for me and is a lot like Impact Silver in their torque to rising Silver prices and improving margins on a percentage basis. SCZ also has a nice Copper component along with the Zinc/Lead, which should be bolstered by Dr Copper’s recent move above $4. I also have a good weighting in Vizsla Silver and think they’ve been doing a great job on exploration for the last year. As for Southern Silver, I don’t own it currently, but did last year, and think the company is a nice optionality play on higher metals prices. As for Group Ten, yes I am drooling as well when I think about how well-endowed their resources are proving to be.
Hi Ex, I have a bid in for group ten metals, their last news release was a clincher. DT
Ex was concerned about the lack of movement after the good results, but everybody and their brother was trashed that day…sort of. Bad day for good news
Good to hear DT. Yes, Group Ten is my largest Palladium/Platinum/Nickel/Copper position and the drilling they did last year, and the recent press release, which was still delayed assays from last year’s drilling were incredibly impressive results, that seemed to be lost on the markets.
David, yes agreed that this wasn’t the best week to be releasing drill results, as most news good or bad has been sold in many companies. It was just poor timing, but as investors start to marinate on those results, I believe they’ll get re-rated higher over time. Not only were they solid Nickel Palladium Platinum and Copper results, but they also had Cobal and most notably pretty high Rhodium content, which is the best mover in all the platinum group metals.
Rhodium is up to $25,800 !! So that is like a 24x kicker compared to Platinum, and any Rhodium found beefs up the economics in a meaningful way.
Couldn’t resist…added a few to give me a round # of shs. What else could I do…
(PGE) (PGEZF) Group Ten Drills High-Grade Nickel Sulphide in 455 Meters of Continuous Palladium, Platinum, Rhodium, Gold, Copper, and Cobalt Mineralization at the Stillwater West Project in Montana, USA
March 3, 2021
“Intervals from 120 to 530 meters of continuous nickel and copper sulphide mineralization, enriched in palladium, platinum, rhodium, gold, and cobalt, were intercepted in the five drill holes starting at or near surface, with each hole also encountering higher-grade intervals over widths of 50 to 150 meters in addition to more selective high-grade intervals. These results further demonstrate the potential for multiple, large-scale, bulk tonnage “Platreef-style” horizons of battery metals and PGEs within the lower Stillwater complex, based on known parallels with South Africa’s Bushveld complex.”
I’ve been purchasing Silvercrest all week. Made a mistake and bought early in the week before silver took a hit, but have been cost averaging over the entire week, so not too concerned. My aim was to enter at anywhere under 10.5 (but looking for 9.50) as I think it’s near its bottom and think that six months down the track, this will be a good buy.
Good plan Aetas Aurea regarding accumulating Silvercrest. I’ve been doing some adding to my SILV position lately at $7.95 on March 3rd, and just added more this morning at $7.28. It is my largest Silver mining position at this point in time.
I’ve also been adding Wheaton at these levels. It may not see as good returns as some smaller companies but think it’s a solid buy at these levels, even if it dips down a little lower (as there is a huge horizontal level of support just below above it’s old cup breakout). Just seems a solid buy.
Aetas Aurea – That makes sense on the solid buy of (WPM) Wheaton Precious Metals, and I’m a fan of having some Royalty anchor positions for slow and steady longer term growth. One observation we’ve been making the last 2-3 weeks is how beaten up the royalty and streaming companies are (look at Franco Nevada, Royal Gold, Sandstorm Gold, or even some of the smaller royalty companies like Ely Gold, Elemental Royalties, Sailfish Royalties, etc….) Even royalty companies that had done massive moves higher like Metalla have pulled back substantially lately, enough where I got back into (MTA). I’ve mostly been accumulating (SAND) Sandstorm Gold for the last few weeks, but did add some to (ELY) Ely Gold Royalties, (NSR) Nomad Royalty, and (FISH) Sailfish Royalties as they seem like they’ve been punished enough, and all have cash-flowing producing royalties, and a nice growth profile over the next 1-3 years.
As for my investment in (FISH) Sailfish Royalties, the main thesis has been for the upside I expect from their longer dated royalties on Spring Valley in Nevada (held by Waterton) and Eldorado Gold’s Tocantinzinho Royalty, in combination with their soon-to-be-paying net smelter royalty from (MKO) Mako Mining’s San Albino. Cory did a good interview with Mako Mining this week highlighting their move into production at San Albino, and as that ramps up over the next few months, it will pay Sailfish handsomely.
A second factor I’ve liked as a shareholder, is that they’ve been buying back their own shares, with the income that has been coming in off the already producing royalty on the El Compass mine operated by Endeavour Silver. When most royalty companies are blowing out more paper to make more acquisitions, Sailfish is actually quietly mopping up it’s share count. That’s a different kind of approach, and may actually be more value accretive in the medium-term, than just acquiring more and more royalties for the sake of growth, like many companies are doing.
Third, I’ve been waiting for a long time for them to provide a plan to monetize or get value from their Mexican Silver project – Gavilanes; that they picked off from Santacruz Silver a few years back, and then picked off another adjoining land concession from Silvercrest — all of this right by First Majestic’s huge flagship asset, the San Dimas mine.
I was invested with Marlin when they spun out Sailfish, was invested with Santacruz Silver when they spun out Gavilanes to Sailfish, was considering Terraco Gold when Sailfish acquired them, and have followed Silvercrest’s success and their spin out of one small claim concession to Sailfish that was not important to them (but was to Sailfish when paired with Gavilanes) and have followed the turnaround of San Dimas from Primero to First Majestic. As a result, it was impressive to see Sailfish sit on this project and incubate it until Silver prices moved higher, and now they are working on a 43-101 resource to be able to combine it with a different deposit, Commonwealth in Arizona in a SpinCo.
The CEO of Sailfish (FISH), Cesar Gonzalez, outlined these 3 value drivers well in this Crux interview from February, and pretty much cleared up a hunch I had that they were going to also look to be acquired by another Junior royalty company. It actually makes a lot of sense for companies to start consolidating the royalty sector, as there are now too many companies. He even outlines the criteria of the kinds of Jr royalty company they want to partner with (one that has cash-flowing assets already and wants a few larger long-dated royalties). In my mind that means it will have to be Nomad, Ely Gold, Metalla, Maverix, or Elemental.
So it sounds like the endgame here for Sailfish will be that they are in talks to be acquired by another royalty company, and then they’ll be spinning out their Gavilanes project into a new company and pairing it with Commonwealth. That seems like a great exit strategies on both facets of their business in 2021, and now I’m curious to see which company picks off Sailfish. They would likely be the best fit for Nomad or Ely.
___________________________________________
Sailfish Royalty (FISH) (SROYF) – Unconventional, Selective & Pro-consolidation
CruxInvestor – Feb 13, 2021
Mako Mining – Full Scale Production Starting This Week At The High Grade Open Pit On The San Albino Property
Korelin Economics Report – March 3, 2021
Great info Ex. I hope it Ely as I sold my Rogue and Sailfish. We will see.
Thanks David. Yeah, it could end up being Ely Gold that makes a move on Sailfish or at least they may purchase their Nevada royalty assets at Spring Valley and Moonlight.
In that CruxInvestor interview the Sailfish CEO, Cesar Gonzalez, mentioned they were open to breaking up and piecing out different royalties to get their proper value, and I could see Ely just wanting the Nevada assets, and then another company like Nomad or Maverix taking out the remaining royalties in a merger.
Hope you are selling into this little bounce today, because next week the pain continues and it’ll be worse than you can imagine.
Have a good weekend!
Sleep tight!
Worse than I can imagine would be if Harry Dent was correct and Gold went down to $500-$600 again, and that isn’t likely to happen anytime soon.
The slightly less worse that I can imagine would be if Gold went down and broke the 2015 low of $1045, but that seems incredibly unlikely.
Still slightly less worse would be if Gold went all the way down and broke the March pandemic-crash low of $1450 from last year, but that also seems incredibly unlikely still.
The larger bull market trend that started in Dec 2015 is still very much intact, and unless Gold makes a lower low (ie…. taking out last year’s low of $1450, or the bear market low of $1045), then there is nothing to worry about Joe.
Gold is already 7+ months into a corrective move that started last summer’s peak of $2089, and with today’s close down at $1698 is only a drop of 18.71% off the all time high…. so hardly anything to freak out over. Are pullbacks and corrective move painful? Sure they are, but coming on here to pump fear, uncertainty, and doubt, while providing nothing of substance is hardly a good contribution to the community here. When I see these kinds of proclamations about all the pain coming, it makes me more confident in accumulating into the weakness, because most investors abhor buying low, and selling high. Instead, most like crying low, and buying high.
David Brady: Gold to Bottom Imminently as Yields Peak
Palisades Gold Radio – March 3, 2021
Tom welcomes back David Brady, CEO, and Co-Founder of Global Pro Traders.
“The recent bearish sentiment for gold is a good contrarian indicator, and David expects to see a continuation of the bull market shortly.”
“The Fed plans to cap yields in the bond market, establishing asymmetric risk for yields to the downside. Real yields correlate inversely with gold and silver, and the Fed can’t let yields rise further.”
“David discusses the core CPI measures and why they are a joke since they don’t include everyday things like food and energy. The commodity sector is breaking out, and this makes the government inflation numbers look entirely laughable. He argues it doesn’t matter what the dollar does relative to other currencies when all currencies are basically toilet paper.”
David Brady: Sprott Money News Weekly Wrap-up – 3.5.21
Sprott Money – March 5, 2021
“Technical analyst market forecaster David Brady joins us for a discussion of the current trends in the precious metals as well as his forecast for where prices will head later this year and into 2022.”
All good stuff Ex.
Thanks David.
United States 10-Year Bond Yield – 1.577%
The 10 year yield was .023% on Friday’s close, (up another 1.45% on a percentage basis day over day)
https://www.investing.com/rates-bonds/u.s.-10-year-bond-yield
Looking at the postings, today is a depressing time. The important thing is to keep one’s mind on the big picture. In that vein, I found Luke Gromen positive for my thought process: Very good listen: akprosperity.com/inflation-or-deflation-heres-how-it-will-all-end/?utm_medium=web_push&utm_source=onesignal.
Hang in there……..remember it’s always darkest just before dawn!
Point of interest: I’ve been doing my taxes and was surprised to find a question on my 1040: “At any time during 2020, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency?” Anyone else notice this……..??
Sounds like a good audit question…..
At least they didn’t ask if you launder drug money or offshore trade for JPM against their clients… 🙂
I think, he should just send a note back , saying it is none of their business…. lol 🙂
Audits take up a lot of time and paper…I sent an email to somebody in the White House once and said Geithner should be in jail. It was when he was Secretary of Treasury. That audit took a little time until they decided there was no problem as far as my taxes.
🙂
Note today—-gold up minimally while silver is down. The worm seems to be turning as mentioned before. silver has some catching up to do. It’s possible that silver will determine the bottom for the PMs.
Hi Doc, I enjoy your interviews on here and appreciate the calls you make, so thanks for talking about what you’re seeing. Can I ask, you mentioned this week that you were starting to nibble at these levels. Previously, you’d raised a large cash position in anticipation of a drop. Have you deployed a significant portion of your cash at these levels, or are you still cash heavy in anticipation of lower?
Many thanks.
Aetas, I sold all my copper stocks about one week ago excepting WRN which also has gold. Having done that my exposure to the PMs and commodities is now at about 37% again. I’ve some core holdings that I’m still up on and have held for a long time. I started to nibble especially on SAND which technically looks like it won’t get beat up as much as other PM stocks. I also recently purchased a little OSK and IAG—I did that because on the monthly chart they are now touching or almost touching the bottom monthly BB—that usually means they won’t plunge like some other stocks. I will continue to nibble selectively going forward since I feel we’ve done some significant technical damage and it will take a long bottoming process to repair the damage going forward and that gives everyone a better chance to take positions while bottoming with less risk.
Thanks for the reply Doc. I still have a little powder left and was in two minds whether to deploy it all for a little bounce or hold some back. I think I’ll keep a little in reserve. Although I have been buying quite a bit this week, admittedly.
Sugar Rush – Why The Economy Will Run Hot, Then Crash
Mar. 01, 2021 – Lance Roberts – Seeking Alpha
When Does This Travesty of a Mockery of a Sham Finally Implode?
March 2, 2021 – Of Two Minds – Charles Hugh Smith
“The mutually reinforcing crises aren’t in the future, they’re here now, and Jay Powell’s shuck-and-jive has lost its magical powers to cloak the rot with speculative bubbles.”
“How many more times do we have to watch Jay Powell claim his speculative bubble isn’t a bubble, and that his massive expansion of billionaires’ fortunes will magically create jobs for all those living in the real world he’s created of stagnation, social depression and inequality?”
“In other words, when will this travesty of a mockery of a sham finally implode? When will the Universe tire of the lies, fraud, embezzlement and corruption and bring the whole rotten charade down? When will we tire of the stale tale of reflation, told by an idiot, full of sound and fury, signifying nothing?”
“We all know the Status Quo’s response to the global financial meltdown of 2008 has been a travesty of a mockery of a sham–smoke and mirrors, phony facades of “recovery”, simulacrum “reforms,” serial bubble-blowing and politically expedient can-kicking, all based on borrowing and printing trillions of dollars, yen, euros and yuan, quatloos, etc. and funneling them to financiers, corporations, monopolies, cronies and billionaires.”
https://www.oftwominds.com/blogmar21/travesty-mockery-sham3-21.html
Technically Speaking: Topping Patterns Popping Up Everywhere
Written by Lance Roberts | Mar 2, 2021
https://realinvestmentadvice.com/technically-speaking-topping-patterns-popping-up-everywhere/
Wow – talk about alarmism…
_________________________________________
Bitcoin Could Prevent Society From Functioning And Is An ‘Extreme Form Of Libertarian Anarchism,’ Warns This Fund Manager
March 5, 2021 – By Rupert Steiner
“Tim Bond, partner and portfolio manager at Odey Asset Management, also told MarketWatch it was damaging the planet: “To my mind, bitcoin is a particularly vile asset class.”
“If bitcoin starts to displace fiat currencies [government-issued currency that is not backed by a commodity], governments’ ability to tax, spend and redistribute will be severely impaired.”
Personally, I find anyone dissing on Libertarianism, while simultaneously defending fiat currencies, the government’s ability to tax/spend, and then redistribute wealth to be the really vile element. Sorry Tim Bond, but that is some cringeworthy commentary.
Ever wonder what Ayn Rand would think of cryptos? I assume Libertarians are Randian objectivists of a sort.
Of course the finest political public speaker of this century was Ron Paul. He was far too rational to ever be elected president. In retrospect the lost last four years of Trumpism would have been far better for the country if they had been an experiment in Paulian Libertarianism.
Just saying…though Paul Jr. is no great shakes .
Yes, I agree with you blazesb regarding “the finest political public speaker of this century was Ron Paul,” that “he was far too rational to ever be elected president,” and that “Paul Jr. is no great shakes.”
Ditto on RON PAUL…..
Diane Francis: Canada’s missing the boat on mining — and the future
Diane Francis – Mar 04, 2021 – Financial Post
“Canada has the resources, brains, and track record to accelerate the transition to the New Economy, but we are crippled by a useless political class that never ran a pop stand.”
“Mining built Canada, undergirds the economy, employs more Indigenous workers than any other sector, and pays the highest wages in the country. Canada is a centre of excellence in mining, which is why the world’s biggest mining gathering — the Prospectors & Developers Association of Canada, launched in 1932 — is once more about to take place this month, albeit virtually.”
“The buzz in the mining world these days is the new “gold rush,” or the extraction of the strategic materials that will be the backbone for technology and clean energy in the future. These include lithium, rare earth elements, cobalt, nickel and copper, among others. Canada — with the biggest piece of real estate on the planet with a free enterprise system — has plenty of all of these elements going for it, except that Ottawa thinks that mining, along with oil and gas, is a four-letter word.”
Diane Francis is an American expatriot who found a home in Canada. Always worth a read.
Thanks Ex.
A message from Rick Rule regarding his retirement / redirection of efforts:
____________________________________________________
“I’m relinquishing some of my roles at Sprott, in particular those that involve corporate administration or FINRA regulated transactions, and will no longer be a Sprott employee. However, I will continue my affiliation with Sprott in many important areas as outlined below.”
“First, I am Sprott Inc.’s largest shareholder and will continue to actively serve on the company’s Board of Directors. I have no present intention of selling any Sprott shares. ”
“Second, for those of you who are Sprott clients or investors in Sprott products which I manage, you should see little change. I will continue as an active manager of the Exploration Capital Partners Partnerships, the historic lending partnerships, and the Rule SMA. I am also one of the largest investors in each of those strategies.”
“Third, the bulk of my family Trust’s publicly traded assets will remain at Sprott…”
“Finally, the business currently known as Sprott US Media will be rebranded Rule Investment Media. This business operates the Vancouver Natural Resources Investment Symposium, the “Sprott’s Thoughts” publications, and the Sprott US Media YouTube channel. These channels will also be rebranded and you can expect them to become much more timely and active.”
https://mailchi.mp/5e9739a6fb7c/a-important-message-from-rick-rule?e=c708a96bfa
It’s interesting that Rick is creating Rule Investment Media, and it will be good to see him able to be more vocal through that platform, without the FINRA regulations muzzling him anymore.
Gold Falls But Key Miners Are Strong
Morris Hubbartt – Super Force #PreciousMetals #TechnicalAnalysis #Video
March 5, 2021
Gold update!
First and foremost I’ve been around the ker for such a long time that I truly hope all of you even the ones I’ve had battles with are ok and at the very minimum per preserving your wealth! With that out of the way, I gotta say I have a migraine from looking at the screen and going into super depth pattern/cycle/everything you can imagine and tonight I’m having one of the finest cabs and one of my preferred cakebread! Full body lol..
Jerry I know you don’t drink much but cheers to better days ahead.
With that out of the way. Here goes..
I have always been a straight shooter and out myself really out there and that means it “could” come with consequences at to lose credibility but I don’t look at it that way. I’m trying to give you all a straight answer and non bias opinion within the lions den of opinions and I don’t need cheerleading or viewers but I feel the obligation to say this.
I don’t like what I’m seeing. I’ve seen this one to many times. Emotions are out and focus is in. I have no rush to buy at this point. I’ve put everything on hold as of today and it smells like what Larry told Matthew. I don’t trust the market. Which means we will get a bounce and it will be short lived. We are headed down much further and it sucks but that’s what it is. Negative to a positive means that my remaining powder will be deployed at those lower monthly’s that have gaps and my orders are already in.
My point is this, we will have a bounce but I’m not the best at timing those so my remaining 4% and raising more as I speak is going to be deployed at that very bottom when it comes and it’s going to be a long term hold for 2-3 years to the tip of that channel and in a chart I can see where that is going to go.. It’s going to be a wealth vechicle and I plan to hit it big.
The remainder of my portfolio sits in different ranges. My longs average low to mid of which I never sold would just add with what I said.. except this adding would lower my cost even more. My short term is caught at the November highs and I’m ok with that. I’m honest and I will get out of that position once we go higher. What it means is I was in a good amount of profit at November high and now it’s pretty much below but I can live with the wait I’m not leveraged as I mentioned a million times and I have a reserve amount of funds.
We are going to get a bounce but and possibly out in a monthly white candle but we will break lower. The cartel as Gary says needs to reset the miners and cover there shirts. It’s disgusting but it’s nature. $1520-$1550 is a good possibility as the final low.
Glen
Hello Glen,
Thanks for the update. Hoping you are enjoying the evening, you deserve a break.
Well, the cabal, has got by the caballs,… Oh, well, they will get their just rewards later.
I have always said……..It is a Long game….most do not want to hang around.
Gold is still better than bonds…by a long shot.
$1500 is still not that bad, but, it sure does not deserve to be at that level, very disappointing , but, what is new. The GOvt. is more disappointing.
Good thoughts Glenfidish and thanks for the update in your outlook on Gold prices.
If we do get a bounce for a few weeks, then my strategy is to lighten up a little on positions at that point to raise some funds, and be ready to buy if there is a further dip into the spring. In a few more months we’ll be on the other side of this corrective move by the sound of things, and that isn’t really too long to wait for a several year wealth creation event.
Cheers!
Ex, thanks buddy!
It just sucks because if the timeline.. If it was another world, I have no doubt that these cartel or bankers should be arrested…
Best of luck
Ex,100%
This is a very tight narrow ranging move! Which means that trading this move desires precision something I think only one two or three can do on the ker!
This means don’t **** with the bear at this current movement ! Matt will challenge me
Lol
Glen
A bounce would be great. That sounds like gains instead of losses. I vote for a bounce.
David ,
I’m all for a bounce as well buddy 🙂
I actually think this bounce is going to be a very big percentage Bounce! But I leave that to you, Matt, Larry, ex , dt, and any others.. Personally I’m not that great at riding these bounces..
Glen
Wow, now you guys are talking of gold in the 1500s! Im not sure what to make of this. Either we are very near to a significant bottom in gold hence the talk of a plunge into the aforementioned area or gold is heading into more troubled waters that could well undo all of the good work seen over the last 2 years? Either way, I for one am surprised in the current correction witnessed throughout PMs considering where they sat at years start.
Day 2 of MIF and Brien Lundin currently speaking before his 4 miner recommendations.