Our takeaway these many years — rather than watch all the FinMedia bilge — comes from simply reading the Statement, in which for 20 March are these three key sentences...
These great fundamentals will eventually attract back investors, fueling a dramatic mean reversion higher in undervalued gold-stock prices. More gold record highs will accelerate this process.
Gold went to $2225 yesterday. By the end of the day yesterday, it finished at $2184. So you had a $41 break from that peak. I'm looking for $2149.50 to hold as support.
Lastly we can see how horribly undervalued Precious Metals stocks are relative to gold itself on our chart for $GDX divided by gold going back to 2001. Only on two other occasions during the life of this chart have they been so undervalued.
Right now, we're just starting the week off, we're up 0.12% at $2164.20. But you've had a correction going on, with lower highs and lower lows in the market.
