Which way? Gold.
- Thread starter themickey
- Start date
Fortuna had a decent earnings beat stock seems cheap considering it's making money at a good clip and I don't think their new Gold mine is material yet. Tomorrow, Endeavour Silver in the morning and Kinross in the evening will further confirm ( or deny ) the earnings power of these miners. And we can see if there is any decent follow through on the stock prices. I like all three as a 1-2 year hold, but I'll sell for now if they don't move on earnings.
Overall a fairly poor stock price performance for these miners today considering where Gold/Silver are priced.
Overall a fairly poor stock price performance for these miners today considering where Gold/Silver are priced.
Have a strange feeling in my water last few weeks, gold is going to break with tradition.
When market tanks, gold's not going to go down with it.
Not saying gold will rally (hard) just that it is not going to plunge.
There's a loose correlation between gold and metals/mining mkt indexes.
With inflation metals should hold up which translates to strong mkt commodity prices (stocks). I'm expecting inflation.
When market tanks, gold's not going to go down with it.
Not saying gold will rally (hard) just that it is not going to plunge.
There's a loose correlation between gold and metals/mining mkt indexes.
With inflation metals should hold up which translates to strong mkt commodity prices (stocks). I'm expecting inflation.
Gold Digger: Great news – gold price headwinds just became a tailwind
https://stockhead.com.au/resources/...-gold-price-headwinds-just-became-a-tailwind/
The recovery in the gold price from its early March lows — ~$1,670s to over $1,825 currently — was mostly driven by the decline in real interest rates and, more recently a poor US jobs report and increasing inflation.
US core inflation in April came in at nearly 3%, surpassing even most the aggressive forecasts, according to The Felder Report.
“With inflation now rising much faster than interest rates, real rates have now fallen (inverted in the chart below) to a level that should be about as bullish for gold prices as anything we have seen in recent years,” Jesse Felder writes.
“Should these nascent trends in inflation and interest rates prove to be more than “transitory,” as Dr. Copper would seem to suggest, it would appear that the gold price could be significantly undervalued at present.”
That’s good news for gold plays, many of which are still trading well below their late 2020 highs.
https://stockhead.com.au/resources/...-gold-price-headwinds-just-became-a-tailwind/
The recovery in the gold price from its early March lows — ~$1,670s to over $1,825 currently — was mostly driven by the decline in real interest rates and, more recently a poor US jobs report and increasing inflation.
US core inflation in April came in at nearly 3%, surpassing even most the aggressive forecasts, according to The Felder Report.
“With inflation now rising much faster than interest rates, real rates have now fallen (inverted in the chart below) to a level that should be about as bullish for gold prices as anything we have seen in recent years,” Jesse Felder writes.
“Should these nascent trends in inflation and interest rates prove to be more than “transitory,” as Dr. Copper would seem to suggest, it would appear that the gold price could be significantly undervalued at present.”
That’s good news for gold plays, many of which are still trading well below their late 2020 highs.
Quite probable.
Last year was a ~$500 move up, can easily happen again.
When there's euphoria, be careful.
When there's gloom, there's room for more optimism.
Lately gold was seen as a second rate citizen to crypto, not alot of joy about. That's a good foundation for the future, as well as inflation outlook looming.
Another thing, all markets are stretched, including most if not all metals - except gold and silver, they've underperformed, so its probably catchup time now due.
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Gold holding up.
The MA30 is pretty meaningless, (default value on Barcharts) but you could use that as another means to determine the longterm trend by connecting the peaks of MA30 or any other MA value. (Doesnt have to be 30).
It could be said, gold is not out of trouble yet, however my hypothisis it has probabilities more on upside.
Is due for a small breather though.
Double Bottom 100% minimum target looks to be hit.
Let's see if support holds up there...
https://www.elitetrader.com/et/thre...t-right-here-baby.335635/page-18#post-5309309