On the heels of the intraday 1,000 point plunge in the Dow, mining legend Pierre Lassonde communicated with King World News about the Coronavirus market panic, plus Peter Schiff discusses the plunge in gold and the mining stocks.
Michael Oliver audio interview has now released!
Coronavirus Market Panic
February 28 (King World News) – Pierre Lassonde sent KWN the following communication about the Coronavirus market panic: “Last week no one in the USA cared for a second and now they panic. Has the world changed that much? Of course not. Like SARS, Covid19 will burn itself out over the next 2/3 months. And the world will go back to normalcy. The knock on effects could be serious for thousands of small companies with fragile balance sheets. But it isn’t the end of the world my friend.”
Plunge In Gold And Miners
Peter Schiff: “Despite today’s decline, the price of gold is still up over 6.5% so far this year. Yet the GDX, an index of gold mining stocks is down almost 10%. Traders still don’t get it. Gold is headed much higher, as are the earnings & reserve values of companies that mine it. Buy the dip!”
King World News note: I would also add to what Peter Schiff said by pointing out that the Gold/Oil ratio is currently at a staggering 35.5/1. That is one of the highest readings in history. What this means is that the high-quality mining companies should continue to report record cash flows and earnings because their single highest input cost is oil. For what it’s worth, the median point for the Gold/Oil ratio is 15.5/1. So the fundamentals for the mining companies are remarkably positive, even as people panic out of the shares.
One Of The Most Important Interviews Of 2020
***KWN has now released one of the most important audio interviews of 2020 with Michael Oliver discussing the stock market crash and why gold will surprise, and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
One Of The Greats Warns “The Central Bank Put Is Now Worthless”
ALSO RELEASED: Dow Plunges Another 1,000 And One Of The Greats Warns “The Central Bank Put Is Now Worthless” CLICK HERE TO READ.
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