by Andy Hoffman, Miles Franklin:
I have many important things to say in today’s very important, and pragmatic, article; and thus, am starting it early Sunday morning. After which, I’ll take a break, and resume Monday morning – so you won’t miss a moment of real-time commentary, in an ever-changing, and increasingly “PiMBEEB,” world.
To start, my increasingly strong belief that Precious Metals are set up for a sharp rebound in the not-too-distant future. Not that I know why the Cartel has been so vicious in recent weeks – starting the day of the Fed’s shockingly unexpected “hawkish hike” last month; when, despite an onslaught of negative economic news, the “data dependent” FOMC’s statement; whilst objectively, being as far from “hawkish” as possible; didn’t offer a single hint that it might slow its (turtle-like, statistically insignificant) “tightening” cycle any time soon. This, as gold was just about to break above $1,300/oz, with both metals on the verge of decidedly breaching their 200 week moving averages and 5½ year downtrend lines. Hint, hint.