Our biggest hope is the so-called triple top for gold (Aug. 2020, Mar. 2022, May 2023 at $2,089, $2,078, and $2,085) is broken. Is four times the charm? Meanwhile, $1,940/$1,950 needs to continue to hold.
The ‘no recession!’ story has only just begun to percolate into the simian brains of portfolio managers and to entice the usual bozos into buying heedlessly.
It's too early to call a US stock market top. Silver and silver stocks are my favorite sector. With the Fed meet out of the way, we're going big on junior gold, silver, and energy stocks!
The economy is stronger than anybody guessed. Gold had a rally up to the 18-week average of closes, and the market got turned away. You're down 1% for the week.
The Fed is no where near finished with beating inflation down. The goal is still 2%. It's not going to be a policy of if we skip a meeting, we wait and see. Whatever the data says the Fed will do, will do.
The market widely expects the Fed will say that it's going 25 basis points. I think the Fed Chair will open the door for another 25 points after that, but not be committed.
The Fed is going to panic again and print more money. And that will give the stock market a bounce. I think it will be very bullish for the commodity sector in general and specifically for the precious metals sector.
