A lot can happen between Monday and Friday: Gold above support spritely popped; Inflation (FinMedia’s take) abruptly stopped; The StateSide economy frightfully flopped.
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.
