https://www.tradingview.com/x/SSm7gixx/
Current NatGas : Off The Bottom

I think 2700 is a likely spot for a stop but not an important top.

To many bears still thinking commodities drop back down to $2100 for gold and have been left behind. I already mentioned few names. This classic wall of worry is what I’m loving. And I fully expect the miners to keep doing the same with in between weeks of rip.

Correct next target should be give or take $2650-$2720 at which point guys like Chris v will be wrong again thinking the big drop is coming. US dollar down everything else up to elections

There are a lot of reasons why the precious metal stocks haven’t been doing well.

1) The tech sector is eating our lunch as money has started moving back into The Magnificent Seven, I thought it was in for a crash, but I think The Fed intervened in this election year and propped them up. They can’t afford a tech crash that will bring down the whole market. Institutional investors and The Moms and Pops saw this move and held on and some moved capital back into the tech market.

2) Trump has talked about Bitcoin replacing The U.S. dollar and this too made money flow back into cryptocurrencies and away from precious metal stocks. We are only seeing 1/2 of 1 percent of the available investment funds in the miners, this is at an all-time low. That amounts to a flea on the back of an elephant.

3) Inflation is much worse than it is reported and that eats into investment income from all levels. The wars being fought by The U.S. have transformed American life. Everything is going up, food, rent, housing, clothing, energy, and taxes. Meanwhile the family income is dwindling as prices rise and Mr. Jones is looking for a permanent full-time job instead of 2 or 3 part time jobs.

4) Enter the fear income if you have any money to invest in securities and you know about precious metal it is much better to buy physical metal instead of the related securities which are much riskier and the physical metal is also much more of a secure investment than holding fiat currency. Costco has tapped into the fear income by making it much easier to buy Gold and Silver because it is now seen a necessary commodity like food. This too has diverted money away from gold and silver securities.

5)Finally, there is a psychological reaction to the overspending and overprinting of money by every government and with the open borders people do not feel safe anymore. You can’t make a sound investment if you don’t have a sound economy and as we saw during The Great Depression it is not always wise to have all of your money where you can’t access it in the case of a major downturn. DT

Hi southfront fan, are you a Canadian? We have two Federal bye-elections on September the 16th. If we can elect a Progressive Conservative government, they are very friendly to oil and gas development in Canada. Our energy sector is going to see a big boost if The Conservatives form the next government however the next general election isn’t until October 25th, 2024.That is probably when I will start buying Canadian energy companies again. DT

Ponzi would be pleased if he were alive today. He could see the biggest Ponzi scheme ever that is the printing of money to cover government shortfalls in a World of debt gone wild. DT

I dont know if you can be too sure about that.
The “riggers” are people, nothing says they dont hoard for themselves.
Its a good way to profit knowing when the take downs will be.

Notice who it is that owns the major hoards of bitcoin, why would gold be dif?

Great confirmation post…. and chart……………

Confirmed….. Looking good…..as I said…. “GOLD GOING HIGHER”

The BIg CUP AND HANDLE worked out just fine…took longer than expected…. IMHO…… J. the Long… 🙂

Now silver needs to do it’s thing…..

OOTB, since you are also called J. the Long, how long have you been buying precious metal, as long as you can remember……….. Maybe we should call you J. the Deep… (for deep pockets) LOL! DT