Here is a key update after gold, silver and mining stocks were battered in today’s trading, plus look at who is going to buy the dip.
Gold And Miners Selloff
September 21 (King World News) – Fred Hickey: “…the short-term selloff in gold & miners is explainable given the trigger came from rising concerns over a second COVID-19 wave in EUROPE and fears of additional lockdowns there. This caused futures traders to sell the euro, buy US dollar and sell gold (one big correlated trade). I don’t think this move will be long lasting, though I wouldn’t mind it going a bit further as I have a lot of cash available to buy the precious metals miners. For the moment, sitting on my hands but I have an itchy trigger finger and am looking forward to adding to positions.”…
Billionaire and mining legend Ross Beaty, Chairman of Pan American Silver, just spoke about what he expects to see in the gold and silver markets and also shared one of his top stock picks in the mining sector CLICK HERE OR ON THE IMAGE BELOW.
King World News note: KWN warned repeatedly in August that a US dollar rally was in the cards and today we saw a continuation of a surge in the dollar. The chart below shows we may see further upside gains in the dollar’s bear market countertrend rally before the dollar rolls over and continues its decline.
King World News note: Meanwhile, gold futures are currently trading just above $1,920, which means the key $1,900-$1,920 support, although briefly breached today, is still intact. We will have to see how the gold market trades should the US dollar rally continue.
King World News note: In the meantime, gold is in a bull market so use any major takedowns in gold and silver to add to physical positions and also use any major selloff in the miners to add to long-term positions. Meaning, if major support at $1,900-$1,920 does give way, let the decline unfold and pick your spot to add to your physical gold and silver holdings as well as your favorite mining stock positions. This will be a very long and strong bull market in gold, silver, and the mining shares, and you will be glad you continued to accumulate into further weakness should it develop.
Gold Tumbles Over $40 But Take A Look At This…
***ALSO JUST RELEASED: Gold Tumbles Over $40 As US Dollar Rallies But Take A Look At This… CLICK HERE.
***To listen to 8-time Graham & Dodd Award Winner Rob Arnott, whose firm oversees $150 billion click here or on the image below.
Rob Arnott: Legend And 8 TIME Graham & Dodd Award Winner!
***To listen to Stephen Leeb discuss the upcoming chaos and why gold and silver will be the primary beneficiaries click here or on the image below.
***To listen to billionaire Ross Beaty discuss the coming chaos and why gold and silver will be the primary beneficiaries click here or on the image below.
Billionaire Ross Beaty, Chairman of Pan American Silver!
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