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GoldSeek Radio Nugget - Bob Hoye: Gold's Short-Term Correction In A Bull Market

 

Market historian and author, Bob Hoye (chartsandmarkets.com) discusses the nascent precious metals bull-market in the context of current interest-rate themes..

- Gold recorded a new all-time record price of $2,800, this week.

"Oh yeah, no, there's no question. The whole sector is overbought. Even gold divided by the CRB is overbought, and we're on the verge of a correction—an immediate correction. Which means, in our view, over the next month or so, it’s not a disaster, just a healthy, constructive correction on the way up. But we're in the early stages of a multi-year bull market for the sector. Sometimes, the GDXJ or GDX—the gold mining stock index—can outperform the S&P..."

- Bob outlines a junior miner who recorded an advance of 500x.
- Climbing interest rates have investors on the edge of their seats.
- Does declining T-bill rates hint at an economic bust?
- Bob is concerned that the key US equities markets have reached frothy levels.
- Mining costs are declining relative to improving metals prices.

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