Well, that escalated rather quickly! Gold is back over $1,200/oz this morning, trading at $1,206/oz at the time of writing. Silver is up over 2%, with the spot price now at $14.83/oz. In the big picture, this move is absolutely NOTHING to get excited about (feels like an overdue relief rally to me), but after so much devastation and pain in the precious metals complex of late, I’m sure a lot of folks will happily take it.
Meanwhile, I’m still hard at work putting together my latest Mining Stocks Report update. Granted, this “renewed optimism” (even if good only for the day) isn’t helping my cause in writing about “immense despair”!
Oh well, it is what it is…
Maybe this is the start of the next turn? I sure hope so, but when it comes to gold/silver, I’m not holding my breath… I’m used to being massively disappointed, so I’m gonna continue to proceed with caution.
Anyway, I should have the report (primarily focused on gold/silver mining stocks) finished sometime this weekend.
Here’s a brief overview of what’s contained:
- Quick market recap/macro summary.
- A look into investor psychology.
- Bear market strategies, thoughts.
- What to avoid.
- What to look for.
- Current favorite ideas (beta plays and an alpha idea).
- My most recent trades/investments.