Need to look through a bit deeper - why GLD holdings increased from 600 tonnes to near 900 tonnes in just a few months? Increase in ETF inventory is the result, not the real cause. There are globally 13 trillion dollars of 10-year paper notes with negative interest.
RIO and BHP are in my watchlist, but they are still in the down trend. May need another year or two to form a bottom. On the contrary, NCM's profit margin is already at record high and gold bull market is just starting.
NCM Price at posting:
$22.55 Sentiment: Buy Disclosure: Held
