I feel we may see POG either flat or go down from this level somewhat in the next 2-3 months before it resumes upwards again based on trends since early 2024:
- POG went up for about 2 months from Feb 24 then had a breather for about 3 months before it resumed upwards - from about late Jul/early August 24 POG went up again for 2-3 months before it fell about $200 - come Jan 2025 POG went up like a rocket from $2,625 to about $3,500, especially in April - almost 4 months going up and it went up a lot more than the 2 times in 2024
A breather in the POG for a few months maybe healthy. I have seen a number of experts suggest there may be a breather in POG and that it will be healthy. Many experts suggest a POG will go higher by EOY to $3,800 or higher.
My only reservation is that Trump is so unpredictable that we may find the breather is shorter or longer this time. Another reason we may see it be a shorter or longer pause is my expectation that we may see a significant fall in the USA stock market come May/June/July (see my next post).
If I am right then it may be a good time to buy gold (and silver) stocks especially it POG falls below $3,100 in the next few months.
SPR Price at posting:
$1.95 Sentiment: Buy Disclosure: Held
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