Precious Metals started the week off strong only to see a sell-off in the back half of the week. Nominal rates moved higher, and gold traded as it often does, inversely with real yields (at least using the C.P.I). Even so, the sell-off is a bit odd given the Democrats won Georgia, giving them the presidency and both chambers of congress. This will all lead to much bigger spending, more stimulus, more government hand-outs, etc.
There were some good buying opportunities on the bright side on Friday as the mining stocks were hit hard. The Federal Reserve has made it known it will keep a lid on nominal interest rates through yield curve control. I venture to guess that the $80B/month of treasuries (and $40B/month of MBS) will move down the yield curve so that the FED started buying more of the 10yr treasuries, etc. Sign up for our free email list @ GoldSeeker.com.
$AEM, $USAS, $AQA.TO, $EXK, $GRSL.V, $MUX, $NFG.V, $OSK.TO, $SILV, $SKE.TO, $VGCX.TO
Read in full on GoldSeek:
https://goldseek.com/article/gold-seeker-issue-45-week-mining-bad-start-year-fundamentals-better-ever
Chief Mining Analyst with SilverSeek & GoldSeek. Previously he was the Senior Mining Equity and Economic Analysis at The Morgan Report. He was a Co-Founder and Director of Lemuria Royalties, before it was acquired in March 2018. He also co-authored The Silver Manifesto with David Morgan in 2015.
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