Recapping the bounce this week in gold and gold stocks and looking ahead to the Fed meeting next week
Dave Erfle, Founder of The Junior Miner Junky joins me to recap the bounce this week in gold and gold stocks. Still within the over 7 month long downtrend we discuss what it’s going to take to break gold out to the upside. Next week the biggest potential catalyst is the Fed meeting.
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Good thoughts today from David Erfle as per usual. I’m not expected the Fed to announce doing much, in regards to action, at next week’s meeting, because the general markets are still doing quite well, and there is so much optimism around the “re-opening trade” and expectations for a robust US economy for the balance of the year. We’ll also start to see the government number reflect a tick up in inflation metrics, which is what the Fed has been wanting to see.
As for whether this week’s pop in gold and gold stocks will get pulled right back down again leading up to the Fed meeting, that wouldn’t surprise me either, as we see that quite often leading up to fedbabble meetings. Things are pretty par for the course at present.
Whipsaw whack-a-mole action
Given helicopter money to the people is actually a better approach than giving it the banks and the rich
They will spend it to stimulate the economy and not to get more rich and paying themselves billions of bonuses
The Fed as well as global central banks are already engaged in YCC via their bond purchasing programs that have been ongoing for a while now. Watch what they (Fed & Global CB’s) Do not what they Say. As for Gold and its shares, we are seeing very subtle signs/clues/evidence that we are nearing resolution/conclusion of this 7 month corrective consolidation phase. Best guess timeframe is that 6-7 weeks this consolidation moves into rear view mirror. The action in the larger gold equities are foretelling. They will lead the physical metal itself. The physical Spot action started to follow the equities lead on Friday with a lag. Good news for those exhibiting patience and controlling their emotions. Have a great weekend to all and a profitable week of trade!
My NKOSF went up 47% today. I should sell some but I’ll probably watch it go back down.
Anyone selling today?