GoldSeek Radio Nugget - David Haggith: Gold's Long-Term Potential vs. Short-Term Struggles

David Haggith, head of The Daily Doom reviews the macro-economic figures and market chart price-structure.

- Will the crude oil market break out of the trading range and in which direction?
- A review of the price structure in US equities markets.
- What could push gold out of the narrow consolidation up to $3,000?

[In] a few of our [recent] shows, I said that gold has a lot of room to go up for a lot of reasons, but that I expected that it was going against trouble in the more short term and that the reason for that would be: The gold market is basically been rising the same as the stock market has based on this scope that the Fed was going to cut rates...and so while that hope was going in stocks and while it was going in bonds, it was also going in gold. So you got that rocket up ahead because that would be good for gold...

...and gold I think is kind of come to the realization that the Fed isn't going to cut rates quite as soon as we think. The S&P hadn't gotten that news yet. Bonds – they look like they're kind of chopping sideways like gold is. I think some people are getting the message that these rate cuts aren't going to be immediately forthcoming.

Now, at some point, they are going to happen and that's going to be good for gold and all the bad stuff that's coming in the economy because of what the Fed's doing and what it's done is going to be good for gold. But I think in the short term it's got struggle there until we get to that point where the Fed starts cutting and the economy starts going more obviously into recession. So I think, there's good news on the road.

- Is the domestic economy within a stealth recession?
- Where are the investing safe havens?
- Preserving wealth via gold, silver, and digital property.
- Intriguing analogies for digital money, by Michael Saylor.