Miners already suffering in the market crash. During a recession there is no market for minerals. Buy gold is the message.
Guy on Rocks: ‘Short the market and go long gold’ as inflation monster looms.

Market Ructions: Monsters Inc (inflation) to drive gold.

Precious metals moved up marginally during the week on the back of a higher than expected 75 basis point interest rate hike from the Fed that saw the US dollar index nudge 106 and US 10-year treasury yields reach as high as 3.5%; this would suggest that longer term inflationary expectations remain high.

The Fed’s monetary policy now appears to be prioritising a reduction in inflation, even as the risks of recession sharply increase.

Randy Smallwood, president, and CEO of Wheaton Precious Metals (speaking at last week’s PDAC Conference in Toronto), believes we are at the start of the “inflation monster”, suggesting inflation could top 15-20% spurred on by the Federal Reserve’s loose monetary policy and supply chain shortages.

A deep recession, according to Smallwood, is a likely outcome.

The * faithful will be pleased to know that Smallwood is also chairman of the World Gold Council (so we can’t accuse him of drinking his own Kool-Aid), which recently reported that 25% of recently surveyed central banks are accumulating gold as an inflationary hedge.
China appears to have moved away from purchasing US Treasuries and has opted instead to increase its gold holdings, a move which Willem Middlekoop (author of “The Big Reset”) likens to a financial World War Three.