Skip to main content

GoldSeek Radio Nugget - David Haggith: Gold Poised for Growth


David Haggith, head of The Daily Doom examines the domestic, macroeconomic trends via our video-charting feature.

- Is the price structure of gold predicting a price move to $3,000?

I think you could be right, the gold is just at a halfway resting point and building up steam for the next big climb. But, if you look at the macroeconomic picture, well, it's very good for gold and there were some data that came in this week that gold could be responding to like the ADP jobs report. The new jobs – it was down flat again at around 150,000 new jobs added and it's been down there for a year.

It's just going along flat, it's nowhere near what the Bureau of Lying Statistics puts out for the Build Back Better Biden program where they're talking about jobs that are 60 grand more new jobs than not each month. The two don't correlate at all.

But if you look at the ADP jobs report and you look at, say, things like what the Dallas Fed is reporting. You look at construction layoffs. Those things that lower ADP correlates perfectly with those things. It doesn't correlate at all with what the government's reporting for jobs. 

- With domestic unemployment ticking higher, will Fed policymakers lower rates?
- Is domestic inflation much higher than officially reported?
- Where do experts, like Michael Saylor, suggest investing amid fiat inflation?
- Defying gravity, The Case-Shiller housing index is blasting to record highs.
- Is the AI theme in the Magnificent 7 components, responsible for much of the S&P 500's renaissance?
- Is distress in some retailers emblematic of a bigger economic challenge?
- Big demographic shifts.
- Gold remains a compelling currency with only 2% mining-related inflation.
- Key digital assets/property are also inflation hedges, as inflation is not an issue.

Please support the show by subscribing to our Substack with Gold Juniors and Investment Opportunities:

About the author

Average: 5 (1 vote)

Newsletter Signup

GoldSeek Free Newsletters
GoldSeek Daily Edition
Gold & Silver Seeker Report
Gold Seek -- Peter Spina