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Brien Lundin: Gold stocks aren't really so stuck in the mud
By Brien Lundin
Gold Newsletter / Golden Opportunities
Metairie, Louisiana
Wednesday, May 8, 2024
The question I got more than any other at the recent Deutsche Goldmesse conference in Frankfurt was: Why haven't gold stocks responded to gold’s big run higher?
I had two answers for them:
1) The rally in gold had been so quick and dramatic that it took everyone by surprise. Investors felt they'd been left behind, and were waiting for a pull-back to get into the mining equities.
From the beginning of the move on March 1, that break didn't come until the third week of April.
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2) No one really understood why gold was rallying so hard. We'd been expecting a Fed pivot to be the big catalyst, but that was being postponed ever further ahead.
If we didn't understand what's driving gold, we couldn't get a feel for how long the move might last. No one wanted to jump in headfirst just before a big slam back downward.
The good news, I told these investors, was that these factors were already starting to change. ...
... For the remainder of the analysis:
https://goldnewsletter.com/go050824/
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