U.S. markets have continued sideways after their decline from late August highs.
Some Gold cycle theorists believe that gold is making a short-term bottom this week, and may make a longer-term bottom next week. We believe the longer-term case for gold remains strong, given the reiterated intentions of the Fed and the trajectory of Federal government spending.
We’ve arrived at a seasonal period in which corrections often occur, but we expect them to be brief. Buy the dips; don’t buy the peaks.
Volatility likely awaits in the run-up to November’s elections, which could afford investors the opportunity to buy some of these interesting new issues at prices better than those available in the exuberance of the days and weeks immediately after their IPOs. We are keeping our buy list fresh with these new names.
Thanks for listening; we welcome your calls and questions.