With respect to gold, In my opinion the next 6-12 months seem promising. I don’t disagree that POG remains closely tethered to USD, but USD itself has a high probability of correcting over the medium term and that will be favourable to PMs
Consider: Recession, ballooning deficits ($2T!!) & political turmoil will all soon be working against the dollar. The market may soon begin pricing in the end of rate hikes & QT. Hell, Fed may soon feel compelled to cut rates and re-introduce QE
POG could *possibly* snap the leash next year. At least (in my opinion) there’s a strong probability it’ll surge from the current level.
Will it rise beyond $1,500 LT resistance? Idk, but it seems likely to top $1,300. Thats the price assumption underpinning Sanbrado iirc. Any increase beyond that will accrue to the bottom line
WAF Price at posting:
24.5¢ Sentiment: Hold Disclosure: Held
(20min delay)
