Loading ...silver up $.13
Dollar down a bit. Could be a decent day.
Rah! Rah! Sis Boom Bah! Go Gold-!!
A ZH reader waxes bullish on gold:
0% exposure to gold. Yup, sounds about right. If you are a moron.
Gold seasonality is starting in days.
What the Fed is doing now is Monetary Debasement. Gold LOVES monetary debasement. It is the very best scenario for having gold rocket higher. We haven’t seen anything yet for gold. We’ve been in a seasonally weak 5 months for gold, and despite that, we have still seen it move up over $250/oz in 2020. The next three months, July 6th to October 8th, are historically the main uptrend for gold every year. If you have to own gold, or want to own it, these are bar none, the three best months historically to buy and hold gold and gold stocks for the ride higher. FWIW, look at the GDX and GDXJ ETFs. The majors and junior miners are severely lagging the increase in the price of gold. They both should be up multiples of gold’s gains in 2020. If gold cranks higher over the next 3 months, the gold stocks are going to be going like a rocket trying to catch up to the metal.
Check out the gold seasonality chart below. Gold goes more or less sideways from mid-January to the end of June, soars for three months, then goes sideways until mid-December. There is often a 4 week spike from mid-December to mid-January which also does well. But the swing you really want to target is just about to start, so load up on the cheap gold stocks, on physical if you can find any, and enjoy the ride into mid-October.
https://www.kitco.com/ind/Degraaf/images/peter_20140404_1.jpg
I have no idea what the trillions of money printing will do for gold. People have to actually start to see it as a hedge to falling asset prices, falling purchasing power of the US/Cdn/Aus dollar, Euro, Yen, etc. Nine years ago people were starting to believe again, and when gold seasonality started, this is what happened:
https://img.bfpublishing.com/RP_11-1-11_2.png
Yes, gold ran from under $1500/oz to almost $1900 in just seven weeks.
Could gold jump $400/oz again in the coming weeks? YES! Will it? We shall see.
