Loading ...Yes. I went over some charts and gold could easily drop to $2700 or so and the HUI is pretty overbought as well. Silver to a much lesser extent. Course none of these are as overbought as we’ve seen the SM be for months on end, but definitely ripe for a wicked correction as is the pm standard.
We had Powell yesterday and have the CPI today. CPI may be unruly as it will be more honest numbers from the gov’t. agencies who hate Trump. In fact, it would not surprise me at all if they made them worse than they actually are – because of Trump.
Looks like Barrick came out with earnings this am, the shares are reacting favorably, most likely because of a $1 Billion buyback.
AEM is out tomorrow after the close.
Earnings should be better for everyone, but not as good as they should be this quarter. I guess we’ll have to see if the shares are forward looking.