Positions as of 14 May, 2024
Hoye notes that current trends, such as rising real gold prices, a strong US dollar, and increasing interest rates, indicate we are heading towards another Great Contraction.
Despite fantastic fundamentals, major gold stocks remain seriously undervalued relative to their metal. Traders initially ignored gold’s remarkable breakout surge, but they are starting to pay attention, rekindling gold-stock outperformance.
We’re in the “buy for blastoff” zone now for a lot of the junior miners.
We advise holding onto your investments with confidence and not selling. Additionally, consider acquiring physical Gold and Silver, as well as carefully selected mining equities.
In the West, central bank decisions and economic data remain at the forefront of buyers’ minds. Central banks, institutions, and consumers are focused on gold accumulation in the East.
Jim Rickards points out that you can’t have a price that’s too high. If so, investors would sell gold for dollars and spend freely. If the price is too low, people will hoard gold.
Fed heads chirped in saying they're in no hurry to raise rates. Stock and bond markets are insane in their fantasy that the Fed will quickly lower rates in a helicopter rescue operation.
Gold is still in an uptrend with supports all the way back around $2343.10. It's up about a third of a percent, up for about $7 for the week.
