Way-better profits will help drive sector valuations lower, helping to attract in more investors who screen for lower P/E ratios. Plenty of gold stocks are dirt-cheap.
The double-figure pop up in gold last Tuesday was more to do with the weakening of the US dollar, than rampant gold demand itself. Gold continues to pull in support from CPI and PPI reports.
Kovacevic says, "The demand for lithium is going to go from the bottom left to the upper right of your screen. I think it's going to be still for the next decade...a good speculation."
For the market, we're up about 1.3% on the week so far at midpoint. When we take a look at the chart, we've come down, we're getting a bounce in the marketplace. The pattern is bearish.
It will remain difficult in metals until gold breaks through $2090. It's difficult for the banking cartels to keep gold suppressed with the dollar in the declining phase of its intermediate cycle.
Gold is up 1.5% for the week so far. I would assume we would see pretty good resistance show up in this market now at $1980.80 which is the 18-day average of closes.
