| As you’ll remember, on July 1st, I wrote you that, despite the many calls for a big price dump in gold, the narrowing Bollinger bands (showing a collapse in volatility) were arguing for a surprise rally.
Here’s what gold has done since then:
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| While we had a setback on Monday after news broke that China had neglected to announce any gold purchases in June for the second month in a row, we’ve recovered all of those losses.
And, as I write, gold’s up about $15 and seems to be renewing its rally.
I point all this out not to crow about a great market call (OK, maybe just a little 😉)...but rather to emphasize that this gold market has been built on surprises. And those surprises have almost all been to the upside.
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| The lesson: Don’t bet against gold right now.
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| From a fundamental standpoint, I think investors are beginning to price in the Fed pivot this fall, perhaps as early as September. The gains we’re seeing in other risk assets support this view.
I believe gold and silver will be among the biggest beneficiaries of this shift to the rate-cutting side of the cycle, since easier money is the high-octane fuel for the monetary metals.
And because a shift to rate cuts is a trend that investors can project well into the future, I think this factor will spark, finally, a run in mining stocks.
I also believe that we’re in the early innings of another secular, multi-year bull market like we saw in the early ’70s, late ’70s and early 2000s. And if that’s the case, gold will multiply as much as three times over from today’s levels...and mining stocks will rocket five, 10 or more times in value.
You need to ride this wave. And the best way is to attend this year’s spectacular 50th Anniversary New Orleans Investment Conference.
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| To save hundreds of dollars on this event and guarantee that you’ll get in the door, CLICK HERE to discover all the exciting details and reserve your place.
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| In the meantime, if you want more detail on my current views on the gold market, as well as those of a number of today’s top experts, my friend Mike Larson and his team at the MoneyShow group have produced a great special report on gold that you can download at no cost here.
This is a fantastic compendium of insights on today’s gold market, and I urge you to give it a read.
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| Brien Lundin
Publisher, Gold Newsletter
CEO, the New Orleans Investment Conference
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| 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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