Been in out of this stock quite a bit of late. Just small...

First 9 Last

Share
Profile

Follow
forrest

528 Posts.

37

07/11/21

10:43

Post #: 57375962
Share

Originally posted by timbin4 ↑

The Gold (silver aswell) charts look more bullish now than at anytime all year…. The next resistance is the 1830-35 range… clear that and it will fly back into 1900s.

As a note I don’t think positive US employment data is bearish for gold at all. The key macro items in play are inflation and the Feds fiscal stance. The FOMC met this week and have given their short term position (a steady $15B monthly rollback from their $120B stimulus…. That will do little to dampen the current euphoria in equity mkts over the coming months (but we may still see some short weakness).

The US CPI figures are out on the 10th Nov…. With the labour mkt strong I am expecting CPI will continue its upward trend (Powell’s call of ‘transitory inflation’ is total BS in my view, there is either inflation or there isn’t) and even show gains in momentum…. That is Bullish for PMs in the short term… especially considering the Fed has already played its card.

For the record I also think the USD is about to rollover… also bullish for PMs.

This is an excellent time to be a PM producer… its just a pity that DCN is barely producing at the moment :/

Expand

Been in out of this stock quite a bit of late. Just small trades. Got back in Friday and this time will hold as I expect a bit of a run on gold . The market cap , I believe , is too low on DCN so with a gold price run
this should run up well as , maybe more so as it hasn't been creeping up like the other goldies
Just my opinion . good luck

DCN Price at posting: 21.0¢ Sentiment: Buy Disclosure: Held
6 Upvote

0 Great analysis

Reply