Loading ...Larry Kudlow was on this morning, and he was saying something like…The Fed appeared to be buying bonds stimulate etc but in a sneaky way, they were also at the same time contracting the money supply. And that’s why the dollar was higher and 10 year rate lower.
Granted the Gold share prices over react and under react act like 90% leveraged futures contracts. You could have $5,000 on a stock, but it goes up and down like you bought $100k worth.
Some miners outperform Gold by a mile, on a multi year chart, some under perform. For example Hecla on a chart with GLD overlay back to 2016 shows Gold up 50% and HL still up 170% since ’16 up 20% on a 6 mo chart with Gold down about 2% after the 1 month crash.
NFGFF is up 350% since ’16 and still up 150% on a 6 mo chart after the recent drop. I have GLD overlays on all my charting software to see how a miner’s performance compares to Golds performance.
I have one view back to the 2016 low, a 5 day view, and a 6 month view, all with GLD overlay to get the picture of who is outperforming who, and by how much.
Shouldn’t we be hearing some very good earnings reports on the producing miners by now? Geez with $1800 gold they should be doing great.