What Matters today : MM has gone overweight gold.

MM added to our frustrating position in Newcrest Mining (NCM) yesterday, hopefully we aren’t throwing good money after bad! The gold price has corrected almost 20% since the euphoric period last August and as we’ve seen this year when markets become too optimistic watch out and vice-versa.
As MM keeps saying “selling strength and buying weakness will add value in 2021” and gold certainly ticks the box of the later. I wont go into the fundamental reasons why we are bullish gold around the $US1700 area as its covered very succinctly by Rocky in the video contained and we share those views, but the technical picture is also supportive with silver remaining on track to make fresh multi-year highs above $US30/oz.

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