| I came out last week and boldly pronounced that a new rally in gold was imminent. |
| Mr. Market promptly rewarded my brash prediction with a $50 gold sell-off on Friday. |
| The journey from hubris to humility can be quick and painful, and that’s a lesson that I’m apparently still learning after four decades in this business. |
| Still, gold’s bouncing back nearly $30 today, gaining ground as the session continues. And the gold stocks are leaping higher, with the major indices all up over 2%. |
| The bottom line is that gold continues to trade in a range during these deep summer doldrums, as you can see from the chart above. Experienced investors in the sector know that these are precisely the times when bargains abound, and we can get a head start on the next rally by buying while interest...and valuations...are at the low end of the range.
The key is to keep our focus on the long-term picture. |
| I just explored this — and a number of other interesting topics — in the Money Metals Podcast with the inimitable Mike Maharrey. |
| I urge you to give it a listen, as Mike guided me on a wide-ranging conversation that addresses a number of important topics for any investor, not just those in the metals and mining sector.
Just click on the link below to hear it, or read a transcript. |
| Brien Lundin
Publisher, Gold Newsletter
CEO, the New Orleans Investment Conference |
| CLICK HERE
To Hear My
Money Metals Podcast
Appearance |
| CLICK HERE to watch interviews by Brien Lundin and Kai Hoffmann with many of today's most exciting junior mining companies on the Gold Newsletter Youtube channel. |
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