Robert Sinn, aka Goldfinger, editor of Energy & Gold, joins us to review the macroeconomic market drivers and provides his technical outlook on the precious metals sector. It’s a wide-ranging conversation that starts off with Fed policy, inflation, interest rates, and the general slowing down of the economy. We touch on the lagging data in the jobs number, and the increasing signs of rising unemployment and big layoffs in the tech sector. With the market pricing in a 50 basis point rate hike in December, and possible one or two 25 basis point hikes in Q1, Robert stresses that the eventual terminal rate matters and whether that comes in below or above what is already priced in, will depend on more data and will be significant.
Next we shifted over to reviewing the key support and resistance technical levels in gold, silver, and the mining stocks, and that it does seem like we are in a basing and bottoming period, but it again, hinges upon when and where the central banks finish up their tightening policy. Robert balances out some of the constructive positive trends he is seeing, with some words of caution, as we are in very unpredictable markets and an unusual economic period.
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