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Gold – Knocking on the Door of $1,400/oz (June 20, 2019)

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Yup, we are certainly getting there with the spot price of gold currently trading at $1,390/oz… The first “real” test? $1,400/oz of course. Now, will gold be able to get there and take it out in one fell swoop?

Intuition tells me “hell to the freekin NO!” but as I always openly admit, I don’t know anything (though if I had to guess, I’d say brace yourself for a meaningful pullback soon)… In any event, your own guess is just as good (probably better) than my own.

So far, so good (although it would appear that ASX-listed stocks are still kicking the ass of those companies found on the NYSE, TSX, TSX-V… C’mon North America, you need to step up your game!)…

Exciting times, and you can even start to feel it in the air a bit… Nope, the generalists will remains disinterested in pet rocks, but a lot of peeps who were kinda “nibbling” back in 2016 are starting to come outside again, with the weather (finally) heating up in the gold sector.

For myself, I added some gold mining shares today to the portfolio, early in the morning…

 

Also, I sent out a late-night newsletter to premium subscribers, so please check your inbox for my latest thoughts on gold mining stocks…

 

In 2016, I was pretty much new to the precious metals sector, and with the benefit of hindsight, I now realize I took too many risks and swung for the fences too much. This time around, I’m gonna try and remember the lessons of yesteryear and proceed in a more cautious (boring as ffff) manner…

Nope, I’m NOT after “max leverage” and I’m NOT looking for 10x bangers (but if it happens, I certainly won’t complain!)… Just want some “decent” gains, if possible.

Even though I really don’t have much experience in mining stocks, I’ve already seen enough in my time to be most weary of portfolio-destroying landmines… So yeah, I’m OK, dude, ya’ll don’t need to give me no sales pitches on the next 10x banger… I’ll settle for the more “boring as ffff” spec mining stocks.

To my peers who are also following gold’s latest movement most closely, all the best to you! I hope you emerge from all this victorious and can boast gains that are orders of magnitude greater than whatever it is I’ll end up achieving on my own.

 

Happy Hunting!

 

 

 

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