I was far too quick to post copper gains yesterday, it was all deleted by the end of the day after Powell's speech. Markets down, commodities down, all of it. Markets participants expect higher interest rates and inflation to persist, economy to go downwards, profits not sustainable, valuations to be under stress. What happens with commodities prices mid to long term, who knows?! “The market was inappropriately optimistic that the Fed was going to be able to be more dovish today and over the course of the next six to 12 months,” said Phil Orlando, chief equity market strategist at Federated Hermes. “Powell dissuaded the market from believing that, and we think stocks should go lower, materially lower.”The S&P 500 dropped 4 per cent in the five days for its worst week since the bear market reached its nadir."
My personal motto has always been "Net worth doesn’t pay the bills. Cash flow does!" , same with HGO, its valuation is not important at the moment, mining and future cash flows are.
HGO Price at posting:
4.5¢ Sentiment: None Disclosure: Held
