John Rubino – Gold, Gold Stocks and Oil; Is It Geopolitics Or Other Factors Driving Price?
john Rubino (follow John’s Substack here) joins us to discuss the balance between geopolitics vs other market factors driving gold, oil and the broad averages.
With war escalating in the middle east over the weekend we note the initial muted moves in markets and metals. The market has started to breakdown in the later part of the trading day. We focus on other parts of the markets, higher US Dollar, interest rates and lower rate cut expectations.
John shares his thoughts on where gold stocks are going and the types of exploration stocks he is focused on.
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I see no good reason to expect this to be a shallow or normal bull market pullback.
https://stockcharts.com/h-sc/ui?s=DIA&p=W&yr=3&mn=0&dy=0&id=p33385893767&a=976602824
Priced in real money stocks are down hard over the last two months. A year’s worth of gains have evaporated.
https://stockcharts.com/h-sc/ui?s=DIA%3AGLD&p=D&yr=1&mn=2&dy=0&id=p25713491464&a=1038000474
SLV priced in GLD put in its best close since December 4th. Even among gold bulls few seem bullish enough and that’s a good thing, as usual. Silver and the miners are about outperform gold by a greater margin than we’ve seen so far.
https://stockcharts.com/h-sc/ui?s=SLV%3AGLD&p=D&yr=1&mn=2&dy=0&id=p94161929384&a=1649500961
https://tinyurl.com/yjckk4pk
Gold: Monday Bounce
Larry nailed it!
Big bearish engulfing candle for DIA today while its 50 day MA turns down for the first time this year…..
https://stockcharts.com/h-sc/ui?s=DIA&p=D&yr=1&mn=3&dy=0&id=p26329246690&a=1278738361