This is a very serious happening. I do not want you to laugh at me, whatsoever, during the reading of this post.
Gold is on the verge of breaking out to the upside, this time for real.
Over the past 2 years, the cryptofags have stolen the thunder from the ‘hard money’ homos in the gold patch. I do believe we’re beginning to bear witness to a serious crisis in confidence in the blockchain, thanks to China throwing the ban hammer on the ICO schemes.
Alas, GLD is at 1 year highs and within an earshot of 3 yr highs.
If this move is legit, you will start to see some serious asset allocations in the sector, one that is woefully beaten down from the highs. Some of today’s outliers included DRD, HMY, AUY, NGD and MUX.
In all, the sector has tracked in line with the S&P 500 this year, higher by 13% — hardly exuberant.
To put some valuation perspective on the sector, the last time gold was truly in a bull market, back in 2005-2007, price to sales ratios were 7.5x, more than twice as expensive as present valuations. Inside Exodus, we provide historical valuation data for all sectors, industries and stocks, measuring PE’s, P/S, and P/B ratios.
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Holy crap, gold is up almost 10%! Yes, One Zero!
Bitcoin is only up 600% over the same period.
Still… China.
Time to reduce long pos then
You must sell your winners and hold your losers
Until ppl start taking deliveries, I call bullshit on this paper gold rally. Rigged.
EGO is at the top of my shortlist
I hate when FLy and OA are opposite sides of a thesis
Why? that’s how all scammers work. Tell half of their clients to go long X, and half to go short. You never win or lose, but your clients stick around while you milk them dry.
and how do they benefit exactly from what you buy? They could give a shit. The only think being milked is your dumbass comments. They just present a thesis. Act on it or don’t you stupid fuck.
I wasn’t calling iBC scammers. just saying financial scammers do that.
Long a fan of Dr. Copper. I like that HMY has 50% of Golpu copper project in Papau New Guinea.
https://www.harmony.co.za/our-business/exploration/golpu-project
Be aware of the full moon theory and gold prices