Today, I put out a new issue for my Red-Hot Resource Millionaire subscribers. Along with tooting my own horn over the Integra Gold pick -- and you've got to admit, that was well-timed (we bought it May 4), what with Eldorado Gold acquiring the smaller company -- I also gave subscribers a new silver pick. Why silver? I gave a bunch of reasons, but let me share two with you. First, here's a chart I made on a Bloomberg terminal of what's going on in the world's physical silver ETFs. Not just the one in the U.S.
Nice move. NOICE! Yeah, silver is becoming more popular, for reasons I detail in the issue. Now how does this compare to the action in the world's physical gold ETFs? I'm so glad you asked ...
Sure, ETF holdings of gold are
climbing. But proportionally, ETFs are buying a heck of a lot more silver.
I've written about real interest rates a lot for subscribers. So it was nice to see this post and chart by @WFLONGWAVE on Twitter: "Real interest rates were often negative during the run up to 1900, see picture. They were the fundamental driver for the gold bull market."
You can see that price support at $1,260 lines up closely with the 200-day moving average at $1,258. So we can expect support there.
But what I would prefer is for gold to pull back to deeper support at its uptrend. That might be a great platform for gold and miners to launch higher.
We'll see how it plays out. Good luck and good trades to you.
I remember watching the British comedy show "The Goodies" when I was much younger. It was a very strange show. And apparently, it has both killed a viewer and caused an early birth.
On 24 March 1975 Alex Mitchell, a 50-year-old bricklayer from King's Lynn, literally died laughing while watching an episode of The Goodies. According to his wife, who was a witness, Mitchell was unable to stop laughing whilst watching a sketch in the episode "Kung Fu Kapers" in which Tim Brooke-Taylor, dressed as a kilted Scotsman, used a set of bagpipes to defend himself from a black pudding-wielding Bill Oddie (master of the ancient Lancastrian martial art "Ecky-Thump") in a demonstration of the Scottish martial art of "Hoots-Toot-ochaye." After twenty-five minutes of continuous laughter Mitchell finally slumped on the settee and died from heart failure. His widow later sent the Goodies a letter thanking them for making Mitchell's final moments so pleasant.
On 1 November 1977 Seema Bakewell, a 32-year-old housewife from Leicester, went into labour whilst laughing at a sketch in The Goodies episode "Alternative Roots". She refused to leave home for the hospital until the episode had finished.
Recently we saw the U.S. dollar slide after President Trump said "our dollar is getting too strong." But that's not the first time he's talked the greenback lower.
Source So, do you think Trump will change his mind and start talking the dollar up? Or does it suit his economic goals to have the dollar move lower against the currencies of China, Japan and Europe? I think he wants a cheaper dollar. And that should be bullish for gold. Just something to think about.
P.S. I’m putting the finishing touch on a virtual goldmine of my favorite microcap stocks in the metals and mining space. And I’m planning to unveil these to our very best subscribers in the coming weeks. If you’d like us to notify you about not only what to buy … but also precisely when … just let me know by clicking this link here.
