Loading ...In other non-PM news, and some PM tidbits
It is a great insight that as home ownership becomes unaffordable due to high interest rates, EV sales may suffer, as charging at home is the most viable option … https://www.naturalnews.com/2023-09-08-ev-owners-regret-decision-switch-gas-cars.html
Also … https://www.zerohedge.com/markets/another-one-fails-subprime-auto-dealership-faces-collapse
110 days left for 2024 to begin.
Also, https://twitter.com/GarethSoloway/status/1700202928399655204
All in all, I think the DXY bulls are in for a nasty surprise.
This economy isn’t recovering any time soon.
Interest rates aren’t coming down any time soon.
Gas is now higher than $5.50 a gallon in many places again.
My take: PM miners holders are done selling. Lots of cash on the sidelines is ready to jump into PMs in case a “V-bottom” is orchestrated in the near-term.
And, one of the posters, (Sir Fully, himself?) called Stewart Thomson a permabull. That may or may not be true. But his call on crude oil has been stunningly accurate. I missed an entry in the low 70s.
And on UUUU, it continues to rise … I’m holding on to a very small position.
GL
GL What makes you think PM holders are done selling?
Sir Plunger,
If I take the chart of EGO as an example, I’m seeing very small red bars as compared to June and July.
If I may ask, what makes you think PM holders are still selling a lot?
GL
I like Stu. Yes, he is a permabull on gold but that’s because he knows its the ultimate asset. When it comes to his PM advice, he always cautions to be ready for an up or a down and have a strategy for both. Best advice I’ve heard from anyone. He understands that miners are heavily manipulated and they probably won’t take off in price for any extended period until interest rates rise rapidly and gold doesn’t go down when they rise.