Gold and Silver - long term view
The Federal Reserve is meeting next week with a rate hike almost 100% priced in.. how are the precious metals going to react?
I'm a stacker, like so many of you all on Steemit.. and yes, I get frustrated with the manipulation day in and day out in the market. But I thought it would be good to look at the long term picture:
Gold is clearly making a giant bull flag, which is signaling higher prices in the future. Could gold go lower in the short term? Yes.. there is room for gold to drop in the short term. But I still have a price target for gold around 1550 by late 2017 or early 2018. I'm not as good at day to day predictions, but the US stock market is way overvalued in my opinion and is at least due for a correction. I'm interested to hear other opinions and predictions!
Nobody is good in short term predictions, unless he takes part in the meetings at Goldman Sachs and JP Morgan and such. So we'll have to wait and see. Something is gonna happen - it always does.
Agreed, we just have to have cash available if it drops lower
This is really, really good. Thank you.
Greg, thank you for bringing me on steemit I can't thank u enough! There are so many cool people and interesting info here. Not to mention that you can make money on here and I really needed this due to my recent job loss...at least there's hope! Thank you for bringing me hope Greg..love what you do on youtube. @marketreport
Thanks Greg! I'm one of your subs.. really appreciate your videos
We're generally on the same page.
I agree the Fed will almost certainly hike again this month (if they surprise, then gold breaks out of that flag). The important thing to listen to will be what sort of guidance the Fed members give over the next month. They've done a pretty good job with the tightening narrative. The market is still expecting 1-2 more hikes this year.
If the stock market stumbles, the market will start to discount those additional hikes as we all know the "data dependent" Fed is really only worried about the stock market. Once the narrative changes to a pause in the hiking schedule or even hints at cuts, then gold will really take off, IMO.
The miners are already looking rather juicy down here. I'll probably start accumulating soon.
Agreed, I am doing the same
Out of curiosity, do you typically buy individual miners or GDX/GDXJ? I traded the ETFs last year, but I think I'm going to stick with a few smaller names that I like on the next run up.
Both, I'm actually in AG, FFMGF, and JNUG right now..I'm down currently, but I think all 3 will move up soon
Cool, I like that. You can hold the individual names and still get short term leverage with JNUG.
Well, I am still sticking to my thought on the FED, I dont think that rate hike is going to happen and that will be the starting point. Great article my friend untill our day comes,,,,stack it high while its low
I actually agree with you, but the market believes it's happening and they don't usually surprise the market
Thanks for the longer-term view of gold. Followed
I write about silver. Here is my latest post: https://steemit.com/silver/@hgmsilvergold/if-you-are-a-silver-and-gold-stacker-this-is-for-you
Thanks, followed back.. I'll check it out
great post drewley - keep stacking and then settle in to absorb all the gain$ :) precious metals markets manipulation doesn't work if COMEX/the paper ETFs are all called in - physical is the way to go, especially silver at $17 an ounce.. upvoted and resteemed - thanks for your contribution. 10 out of 10 for a great thread
Thanks so much!
due to my research I learned that precious metals are good for hedging, not really a investment...what is your take on this?
I agree it's more of a hedge, which makes it a good long term investment in my opinion if you believe everything else is overvalued. But I guess it depends on how you look at it
thanks for responding :)