FI Fighter
≡ Menu

Focusing on Gold… For Now (June 21, 2019)

Print Friendly, PDF & Email

What a week for gold! Surprisingly (or not), the yellow metal has been on a tear as we enter into the heart heat of the summer months, and things certainly got a whole lot more interesting shortly after the most recent Fed FOMC meeting took place.

At the close of this week, the spot price of gold is now trading higher than at any point it’s been at since 2013:

$1,400/oz was briefly hit, and somehow (someway) gold still managed to hover around ~$1,400/oz by the end of the business day today… despite not having really experienced any meaningful pullback in awhile now…

Don’t be surprised if gold finds itself needing to breathe again after this impressive run up…

Yes, I realize that Bitcoin (BTC) has also been on a tear lately (and for most of this year, now up like ~3x from the lows!!!) as well, and its currently doing battle with $10,000/coin (which I believe once the dust is all settled, BTC will blast through decisively)… But you know, basically everyone and their mama is covering BTC these days, so for the most part, I think I’m going to continue to emphasize my own focus on this blog covering (the much more hated and maligned) precious metals mining stocks…

Irregardless, I’m NOT one of those crazy maximalist people who’s going to vehemently argue why one asset class is better than another… F that shit, life is too short and this blog is all about early FI, anyway.

Can’t everyone just get along for a change?!?

With that said, yes, I absolutely want to get back and cover more early FI/life stuff, but right now, at this moment in time, I’ve kind of had to flip the script a bit and hone in more on:

 

Gold, Gold, Gold… and Silver to a lesser degree.

 

I’m NOT proclaiming this is the start of the next epic bull market in precious metals by any means, but I mean the trend has been UP UP UP lately, and previous highs/resistances have been breached…

 

So yeah, I hope readers will bear with me, and hopefully there’s enough interest around that folks will want to see me talking more about gold and silver over the… let’s say medium-term.

 

Bottom line — Mining stocks changed my life for the better and made many things possible… Arguably (outside of real estate), getting involved with mining stocks at “the right place at the right time” helped me accelerate my own early FI progress in ways I never would have fathomed possible… Life-changing gains…

 

I’m NOT gonna suggest anything I did last time around was easy (and that history will repeat/rhyme yet again), but damn, I know a lot of people involved in mining stocks, and if it can materially change their lives for the better, I’m all for it!

 

Truth is, I really want to see a lot of good  people I know succeed and get theirs… That’s the bottom line, straight up.

 

Anyway, I feel like I’ve got knowledge + experience to offer readers, since I’m someone who has been there, done that… witnessed the immense highs and catastrophic lows… I would like to believe that I’ve picked up many important pointers along the way…

So yeah, let’s hope this gold breakout is real and that the party is just getting started now!

 

I mean, without missing a beat, I can already see that the news flow is starting to accelerate in the mining sector…

From Pure Gold Mining.

I’ve got my own thoughts about the above placement, but I’ll keep those to myself for now…

 

Anyway, if there’s indeed a lot more news coming down the pike, I’d like to again put a greater emphasis/focus on covering gold for the medium-term on this blog.

 

Many goldbugs (and silverbugs) have suffered immeasurably over the last few years, taking on some staggering losses (both realized and unrealized)… I hope for their sake, things start to turn around in a hurry…

 

For everyone else, bull markets are damn fun, so even if you’ve got no interest, I hope it’ll be content that’s still interesting to watch and observe from the sidelines for you.

 

Please stick around dear friends!

 

Fight On!

 

{ 1 comment… add one }
  • AlexNo Gravatar June 23, 2019, 10:11 pm

    What do you think of AUG Auryn Resources

Leave a Comment