Gold’s recovery has been a bumpy one as it struggles to put its recent correction lows behind it.

While the bottom appears to be in, the near term seems as cloudy as the long term appears clear.

December 11, 2020

Dear Fellow Investor,

The gold story was so simple to explain — until gold was dumped on Wednesday morning.

That the metal’s correction had ended and a new rally begun seemed obvious up until then.

You see, a sharp decline on November 24th to a key support level (a 50% retracement of gold’s gains since March) coincided with the full moon and the December options expiration to mark a clear bottom.

(I know, throwing the full moon into this serious analysis is, ahem, sheer lunacy…but analysts across the Twitterverse were noting the coincidence, and not all of their remarks were tongue-in-cheek.)

Whatever the reason, gold rallied strongly from that point, rising in four out of five sessions from the November 24th low at $1,776 on a spot basis to a high on Tuesday of $1,870. It seemed that the planets (and moons) were finally aligned in gold’s favor and the dark days of the correction were finally behind us.

And then came the aforementioned sell-off on Wednesday, with gold slipping about $40, back to the low $1,830s. It tried to rally on Thursday, hitting $1,850 at one point, before fading back into the red despite supporting data on jobless claims and the CPI. This morning, it gained about $5.00 as it fought to regain an uptrend.

Does this mean that the rebound was nothing more than a head fake? Obviously, it’s impossible to tell at this point. It is worthy of note that I was expecting a typical pattern in which the price would bottom in mid-December. While not unheard of, this bottom would be on the early end of the spectrum.

Regardless, history shows that gold does bottom sometime this month…before gaining steam in a new-year rally that often sends well-positioned junior mining stocks multiplying in price.

Major Macro

While the near term remains muddy, the long-term view is as clear as ever.

That macro view has always been based on the ever-easier monetary policies being pursued by the Fed and other central banks since the 2008 financial crisis. It has been bolstered, and in fact made inevitable, by the monstrously large debts that such policies have encouraged, such that these debts now require negative real interest rates and very significant depreciation of the underlying currencies.

The only alternative would be a debt jubilee/financial system reset.

Either path would eventually result in gold and silver prices at multiples of current levels. And mining stocks would leverage those gains.

As long as we keep our focus on the horizon, these short-term fluctuations will fade in importance.

But once again, the near-term opportunity is exceptional, as bargains abound in the junior mining sector…and the seasonal pattern argues for these companies to soar over the weeks ahead.

A Veritable Gold Mine Of Top Picks

Thus, the timing is perfect for our annual expanded issue of Gold Newsletter, published just hours ago.

This special edition, nearly 80 pages in length, features a comprehensive recap of our recent New Orleans Investment Conference. That’s right — the event that presented dozens of today’s top experts, including Tucker Carlson, Stephen Moore, Doug Casey, Robert Kiyosaki, Danielle DiMartino Booth, Jim Rickards, Rick Rule, Peter Schiff, Grant Williams…

…Peter Boockvar, Tavi Costa, Ross Beaty, The Real Estate Guys (Robert Helms and Russ Gray), Peak Prosperity (Chris Martenson and Adam Taggart) and many, many more…

…Is succinctly recapped in this single issue of Gold Newsletter.

This recap alone would be worth the price of an entire year’s subscription. But there’s much more…

This massive issue of Gold Newsletter also contains updates and specific recommendations on 40 high-powered junior mining companies.

Plus, it includes full details on the latest addition to our buy list, a company that already boasts a million-ounce gold resource.

But here’s the exciting part: The management team behind this new company had a previous success — one they grew from a start-up to sell for $7 billion!

Right now their latest venture is still trading for a pittance...but they’re set to announce a resource update within weeks that could double the current million-ounce resource.

I haven’t seen this company covered by a single newsletter other than Gold Newsletter. If you want to discover it before it explodes onto the scene, you can do so immediately.

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You can get all the details on this red-hot new gold stock — and position yourself for the ongoing new bull market in metals and mining stocks — by subscribing to Gold Newsletter now.

To get a full year of Gold Newsletter…and get immediate access to our exciting December issue packed with over 80 pages of the most valuable investment intelligence available anywhere…simply click on the link below.

All the best,

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

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