From Sprott Money: The wild ride in gold continues. After what was shaping up to be a great week, the metal took a hit today just as Eric stopped by for a chat. On this edition of the Wrap-Up, he breaks down…
- This week’s “bombing of gold”
- Why Russian stockpiling matters
- Plus: What’s going on with the shares
“I have a view of markets, OK? It’s almost like, whatever the narrative is at the time, you know it’s likely to reverse. For example, I look at the Emerging Markets that got hammered, hammered, hammered. Next thing you know: Whoomp! Away they go, they turn around to the upside. It’s like this Invisible Hand comes into the market. So, you look at the gold market, and as you and I both know, we’re at the 50-day, and we’re thinking, ‘Oh my God, it’s going to break out of a down trend that it’s had for the last three or four months. It goes right to the line and bang! Right back down again. And viciously down.”
To hear Eric’s full thoughts on these topics and more, listen here:
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To hear Eric’s full thoughts and more, listen here:
The Invesco DB US Dollar Bullish (UUP) fell $0.01 (-0.04%) in premarket trading Monday. Year-to-date, UUP has gained 4.00%, versus a 9.86% rise in the benchmark S&P 500 index during the same period.
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