Peter Grandich, former Wall Street analyst, shares his optimistic outlook on the PMs markets.
– Peter thinks the current precious metals’ consolidation is supportive of the bull market thesis.
I think gold is an interesting subject—for me at least. It’s behaving almost [as] planned, but you always get kind of nervous when markets do what you think they should do.
Gold has had [healthy] a correction and consolidation, and that’s now behind it. Like last Thursday, I told my viewers that the correction was over and it doesn’t get the attention that other markets do, which is actually a good thing. The reason it’s a good thing is that we’re able to go up without too much froth being put into the market.
– Is silver poised to exceed the impressive gold rally?
I like to be as bullish on silver as goal because it would, it would lessen the emails from the silver bulls. But it’s still struggling and I think until it gets an actual breakout above $35, we should first hope for that if we believe in silver, not focus so much on $50.
I think getting above $35, will set the tone to get the $50, and it’s also going to probably come at a time when there’s finally a respite at least, which is probably not to the new year.
– Positive comments on gold junior miners.
– Are gold miners selling at deep discount prices relative to bullion?
– Comments on US equities vs. junior mining shares.
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