| So far, it’s playing out as I expected.
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| Gold soared after the U.S. and Israeli attacks on Iran began...and then sold off yesterday as the sharp traders handed the bag to those who had foolishly bought the metal on the news.
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| As I had written on Monday:
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| “Beyond the obvious and terrible repercussions of war in general, geopolitical eruptions like this only serve to obscure the fundamental drivers of a gold bull market and enrich the traders who fleece those attempting to trade on the events.”
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| As so it has transpired. Gold dropped about $230 yesterday as the sharpie traders played out their “first in, first out” strategy.
More importantly going forward, gold — and the rest of the metals that had sold off yesterday — are recovering nicely today as the primary uptrend resumes. Gold is up about $40 as I write, for a gain of about 0.75%, while silver is up 1.5% and platinum is up over 3.5%.
And even more gratifying is the response in gold equities, which are once again outperforming gold today.
We’re also seeing a bounce-back in the broader equity markets, so it seems that investors are, somewhat sadly to say, getting comfortable with war.
In regards to gold, this all brings me back to the other big point I made on Monday...
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| You Must Be Positioned In This Bull Market
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| Yes, there will be much more volatility ahead, but the primary uptrend for gold and the rest of the metals complex remains solidly upward.
The fundamental trends driving this move are founded upon 45 years of ever-cheaper money and ever-greater debts, and there is no practical solution out of the mess other than an eventual monetary reset.
This trend will not be diverted anytime soon.
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| And yet, mining equities, even after stellar gains over the past year, are nowhere close to fair value relative to current metals prices.
There’s a lot of catching up ahead...and that process could be extraordinarily profitable for those who get positioned now.
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| On that note, I just returned from the big annual PDAC mining conference in Toronto, where I met with dozens of junior mining companies and put my ear to the ground for the latest market scuttlebutt.
I got detailed updates from a number of companies already in our Gold Newsletter portfolio...and discovered some very exciting new opportunities.
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| I dispatched a Gold Newsletter Alert to our readers on Monday with some urgent buy recommendations after my first round of discussions with companies. The good news is that, thanks to yesterday’s sell-off in the metals, those recommendations have yet to move.
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| You can still get all the details on these recommendations while they have yet to move, by making sure you’re a Gold Newsletter Alert subscriber.
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| Brien Lundin
Publisher, Gold Newsletter
CEO, the New Orleans Investment Conference
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| CLICK HERE
To Lock In A Full Year
Of Gold Newsletter Alert
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| P.S. Remember — you can get up to date on lots of top junior mining stories on our Gold Newsletter YouTube Channel. Check out some of the recent interviews at the links below...
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