Someone bought 1.8 millions share @ the close -
GREAT TO SEE new large investments coming in at closing daily highs.
In a Kitco article from Thur. June 19. ….
Phil Streible, senior market strategist at RJO Futures, told Kitco News
that prices for the yellow metal may still see much higher levels
from here.
“We should continue to see that break through $1,400 and I anticipate
that a lot of the short sellers will end up giving up at that level.
So, no telling how high we can go from here, it’s kind of got that
perfect storm going on with increasing geopolitical risks and
then also a dovish Fed,” Streible said.
Paul Tudor Jones of Tudor Investment has said that once $1,400 an ounce
is breached, the next level is $1,700, and
Streible said that is definitely possible.
“It is entirely possible.
The Fed, it’s factored in at 100% that they will cut next meeting.
If you look at the last time we had this aggressive hike cycle
followed by rate cuts, they had higher levels to go down from,
so with the Fed only being at 2 and a quarter right now,
if they cut a half, that doesn’t give them much firepower
in order to stabilize the economy,” he said.
Another round of quantitative easing could happen,
Streible added, and that could push gold much higher.
I'm not sure I agree that gold will go to $1700 that quickly but
I do see $1450-$1500 as quite possible very soon.
A war with Iran might cause a spike further but more likely we
will just see a gradual rise in gold prices as the $US falls.
Then as we go into 2020 there will probably be some kind of deal
with China which will goose the stockmarket in time for
the 2020 US elections runup.
The Chinese, knowing Trump will want a trade victory to brag about
will drive a hard bargain so it will probably be a pyrrhic
victory for Trump that doesn't really change much but
that he can use in electioneering.
I expect maybe a time limited truce on tariffs for both sides
with an ending or renegotiating date depending on compliance
views for each side.
That would cause the gold price to fall somewhat but not back
to the current $1400 level so a buy of KL shares here
is still good but further near term stock price rises
will probably depend on the drillbit as management seems
uninterested in acquisitions unless very accretive.
I agree with that viewpoint as we will probably see far
better value in new discoveries on their current properties
than in other gold stocks that are risng wth the gold price.
Anyone have differing views ??
Would like input.
by westcoast
God Bless
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