Fed Monetary Policy, the Economy and Gold, Silver and Mining Stocks

July 18, 2023

I believe that the cyclical down trend that began in August 2020 may be exhausted. I further believe that the precious metals sector will soon begin a sustained move higher that will see gold go well over $2,000 and silver trade up to $30, for starters. I am comfortable making this assertion, sans a specific timing prediction, based on several signals that have marked the bottom of similar painful cyclical precious metals sector declines in the past. Not in any order of emphatic significance, the indicators to which I’m referring include sentiment, trading action, demand for physical silver and gold, technicals and, last but not least, fundamentals – That’s an excerpt from the intro to the latest issue of my Mining Stock Journal

Craig Hemke invited me on to his Thursday podcast to discuss the Fed’s monetary policy, the current state of the economy and U.S. dollar and, of course, the precious metals sector. Certainly to describe the Fed’s policy stance as “hawkish” is a joke and I explain why: