Start Buying Now Or Pay Up Later
A number of analysts are saying we are still at least weeks away before the bottom in gold, silver and the miners because the bottom won’t be in until at least the next FED meeting and maybe even further down the road. While they may be some what correct that the big explosive gains in the metals won’t take place until the FED stops or at least pauses their rate hikes, it isn’t going to be that easy. I don’t believe that the recent takedown of the metals will be repeated again at this month’s option expiration for gold and silver futures contracts right around the time of the FED meeting. ( If they do have a typical takedown at that time it will be from above current price levels and unlikely to make new lows.) If you were planning on waiting to load up after the FED says they are pausing (or done) hiking you are going to end up chasing much higher prices. You probably want to start building your miner positions and adding to your physical metal positions before that happens. Right here at these low prices is a good starting point.