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Jordan Roy-Byrne, CMT, MFTA |
TheDailyGold: The 3 Historical Comparisons for Gold....
Published: Fri, 06/16/23
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In this video I cover the 3 best historical comparisons for where Gold is right now.
3 Best Historical Comparisons for Gold In this interview I ask Rick Rule about his specific strategies for investing in and speculating on resource stocks. Click Here for the Rick Rule Interview Rick is hosting his annual resource conference in Boca Raton in July. One can attend physically or even virtually. Click Here for all the Information on the Conference (Note, if you attend I receive a small commission) -------------------------------------------------------------------------------------------  Nevada King Gold (sponsor of this free newsletter) discovered oxide mineralization at its Atlanta Mine Gold project in Nevada and has reported numerous, excellent drill hits. They have drilled high-grades over some lengthy widths. Nevada is the top mining jurisdiction in the world. There have been quite a few takeovers there in recent years and oxide projects are quite valuable. Last Tuesday, the company reported two more excellent hits in an area where this kind of mineralization was not previously discovered. -------------------------------------------------------------------------------------------
Here is a chart showing initial jobless claims (red) and the unemployment rate (blue). The red leads the blue.
Initial claims are rising and if that continues, it will be recessionary. But if jobless claims cool for a few months then we'll hear more soft landing talk.  ------------------------------------------------------------------------------------------- In TheDailyGold Premium... TDG #834 was a smaller update (still nearly 20 pages) because I was out of town. I have published an update every week for years and years. In the summary I noted the setup of the stock market rising and precious metals floundering again. This is good. This is what we want as it precludes a 2008/2020 repeat. When recession hits & stock market rolls over, Gold will surge higher. We wrote about the current market action over a month ago: In TDG #827 to TDG #829, we mentioned the potential for the S&P 500 to push higher before a recession and how this could coincide with a pause or correction in precious metals. The S&P 500 closed at its highest weekly close in nine months, just under 4200. Potential upside targets are 4325 and even 4525. Strength in the stock market pushes out any rate cuts, and as capital rotates back into equities, bond yields could rise. Real interest rates would move higher. Positioning has been so bearish on US equities that this breakout should attract more buying until recession fears rise again. Its a tough time but a recession is coming and regardless of what the Fed says, rate cuts are on the horizon. Probably more fiscal stimulus as well. The stock market has recovered, bond yields have risen and real interest rates have yet to decrease after surging higher in the past year or two. Meanwhile, the Fed has not indicated it would cut rates. All of that and yet Gold is 5% or $100/oz from a new all-time high! Gold has held up incredibly well. I know that does not mean anything for the stocks and Silver, but it will when it breaks $2100. -------------------------------------------------------------------------------------------
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