more about Gold

For the past 3 weeks, my weekend ‘Macro Extremes’ newsletter has cited Gold was trading in ‘overbought’ territory.

This doesn’t mean to ‘short it’……instead it warns of being careful if initiating new long positions at those moments.

But gold bugs and journalists were carrying on about new highs and the prospects of higher prices……

I spend much time telling clients “No’ rather than ‘Yes’.

And so, good gold mining companies such as Barrick Gold are now trading 20% below than their recent highs.

Others have slumped 30% in a short time.

Remember, it’s not about shorting the stock…

rather, I’m interested in buying soon.

November 13, 2024

rob@karriasset.com.au