If we listened to history, we’d know that gold takes a few tries to get through the “big numbers.”

July 12, 2021

Dear Fellow Investor,

Mark Twain famously said something along the lines of how history may not repeat, but it will rhyme…and I wish I would’ve remembered that in early May.

As you’ll remember, it was back then that gold had rocketed up from its double bottom in March and barreled right through $1,800.

And as you can see from the chart above, it kept right on going, through important resistance at $1,850 and then right through the next big number, $1,900, with hardly a pause.

I warned at the time that gold was breaking all the rules in that run, bursting through each important level without hesitation. I noted that it typically took the metal a few tries to get through those levels, and we couldn’t rule out a big decline back through these new support lines.

But even I didn’t heed those warnings. I got caught up in the euphoria of gold’s blazing rally along with everyone else.

And I suffered through the sharp correction of a month ago, like every gold bug with high hopes.

So the lesson has been taught again, and I’m viewing gold’s current little rebound with a lot more caution. By my count, the most recent clearing of $1,800 marks the third time this year gold has poked above that benchmark.

Granted, the metal has put in a number of positive days recently, ending in the green in New York trading in seven out of the last eight sessions. It’s down just a couple of dollars as I write, having bounced from being down about $10 earlier, so it could still make it eight out of nine.

That’s impressive, but neither silver nor the mining stock sector have confirmed gold’s move over that time span, and this is not encouraging.

Add it all up, and I’m remaining careful about jumping in just yet, outside of a few very well-positioned exploration plays that we’ve been recommending in Gold Newsletter.

The long-term picture, of course, remains very positive. Right now, as I’ve noted, anyone bearish on gold has to be buying what the Fed is selling about inflation being transitory.

As Peter Boockvar said in a note this morning, “Those in the transitory camp like to latch on to the medium-term surveys, but I’ll argue that 90%+ of those being asked either weren’t alive in the 1970s or were a child and [thus] don’t know anything other than temporary inflation bouts.”

The upcoming wage hikes, for one, argue against these gains in inflation being temporary. Consider that the ’70s, as bad as they were, didn’t have inflation being goosed by the kinds of permanent wage spikes that we’re about to see.

Save

Not A Subscriber Yet?
Get Golden Opportunities For Free

Subscribe to our Golden Opportunities e-letter to receive timely market
updates from the Gold Newsletter research team, plus video
presentations by expert speakers from the New Orleans Conference
— and the Investor’s Guide to Gold and Silver — all at no cost!

CLICK HERE to start your subscription.

Putting It All In Perspective

This underscores the importance of listening to the views of those who do understand the drivers of inflation…and who have experienced the repercussions.

And of course, the best way to do that is to attend this year’s New Orleans Investment Conference, where Peter Boockvar will join a long list of world-renowned experts, including Ron Paul...James Grant...Jim Rickards...Danielle DiMartino Booth...George Gammon...Grant Williams...Jim Iuorio...Doug Casey...Rick Rule...Dave Collum...Dominic Frisby...Tavi Costa...Peter Schiff...

…Lawrence Lepard... Brent Johnson...Peter Boockvar...Mark Skousen...The Real Estate Guys...Adrian Day...Gwen Preston...Bill Murphy...Chris Powell...Robert Prechter...Mary Anne and Pamela Aden...Omar Ayales...Thom Calandra...Brent Cook...Joe Mazumdar...Gerardo Del Real...Steve Hochberg...Dana Samuelson... Lobo Tiggre...Nick Hodge...Rich Checkan...Mike Larson...Jeff Clark...

...And many, many more — including yours truly — in giving you profitable analyses, forecasts and specific picks to profit as gold eventually continues its rise to new record heights.

A word of warning: The reaction to our announcement of New Orleans 2021(the first big event of its kind to return to an in-person gathering) has been nothing short of overwhelming.

For one thing, all of our Platinum and Gold sponsorships have already sold out, and I expect our exhibit hall to be completely sold out.

A worrisome issue is that our host hotel, the New Orleans Hilton Riverside, doesn’t have rooms available outside of our room block. So it will be first-come, first-served for those wanting to have accommodations in the Hilton.

We opened up registration for individuals only a couple of weeks ago, and registrations are flowing in at a rate that has me confident we’re going to completely sell out the Hilton.

So if you want to attend this blockbuster event — a New Orleans Conference that everyone will be talking about for years — you really do need to act immediately.

Just call us toll free at 800-648-8411 now, or CLICK HERE, to reserve your place now.

All the best,

Brien Lundin
Editor, Gold Newsletter
CEO, the New Orleans Investment Conference