The BRICS meeting is underway - I have seen so many expert (?) commentators hoping or wishing the meeting ends up agreeing to a new currency to rival the US dollar with 40% being in gold. My own view is that this ‘hope’ is being used to hype gold and gold stocks and I expect nothing will come from the meeting. If this ‘hope’ is somehow causing the POG to go higher then we may see a pull back in POG if there is no outcome from the BRICS meeting. And a fall in gold stocks and silver stocks. A pause in the upwards trajectory of POG may be healthy.
However, in the very unlikely event there is a positive outcome then hold onto your gold and gold stocks as they will be going a lot lot higher.
SPR Price at posting:
$1.66 Sentiment: Buy Disclosure: Held
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