Here are the important links from the past week....
 

Gold & Gold Stocks Corrective Action Continues Despite Dovish Fed
The title applies more so to the miners which lost their Fed-induced gains. Metals held up well at the end of the week though. 


Podcast: Mickey Fulp at Precious Metals Summit in Beaver Creek, Colorado
Mickey shares his thoughts on Gold, junior explorers, Uranium, Copper and the potential impact of the upcoming election. The link contains timestamped parts of the interview. 


Podcast: Joe Mazumdar Shares Latest Insights on Junior Miners
We sent this last week but included the wrong link. This is the correct link.
 

Video: Inflation Bubbling Under the Surface..?
The core CPI and sticky CPI are showing more inflation than the headline CPI. If commodity prices pickup then we could see a 3% CPI. We discuss in the video. 


Corporate America has Been in Recession Since 2014
From Steve Saville. Very good post in my opinion.  


Market Anthropology on Gold, Yen, US$, Real Yields
Erik Swarts does fine work and makes a strong bullish case (on Gold). 








Premium Snippets 


Chart 1: TDG Junior Gold Index in US$ in CAD$

The index gained 3% on the week to 883. It could fall 12% and remain in a larger bullish consolidation provided it rebounds from there. It could even test 725 and be in a larger bullish consolidation if it pops back to 775 quickly. In any case I expect the consolidation to continue. Immediate resistance is at 925 while there is support at 840. 

The index in CAD$ could fall 14% and remain in a larger bullish consolidation. 







Chart 2: Junior Gold Index Bull Analog (in US$)

The black is the current bull run. As we know the sector has been consolidating for a few months. Assuming it continues to hold the lows then eventually (in the next few months) it could break to the upside. Then it would make a strong run in similar fashion to what the red and blue lines started to do just weeks ahead.



 


The Fed came and gone and it appears to be mostly a non-event, especially for miners. Metals performed well and are in good shape. The miners popped but gave it all back. In TDG #484 a 32 page update, we noted that the lagging of the miners and monthly candle charts (for the metals and miners) argue that the sector isn't about to run to new highs. The consolidation should continue but as long as the lows hold, the sector is in great shape. 

Simply put, I'm holding my winners and will wait to buy more. The consolidation will mature and that is the time to buy or we will get more weakness and perhaps a test of GDXJ $39 and GDX $23. If that happens, it's also a buying opportunity. Let your winners run and cut your losers. You do not need to panic out of anything that is a winner (unless of course fundamentals of that company have changed). 

The update included an updated report on one of our favorite companies, a junior producer. We think this is a must own for those involved in the resource sector. It is one of our largest positions. If you are a serious investor who believes in the secular bull market in precious metals, then consider joining our service. 

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