Commodities: Silver
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 e.g. Tesla (TSLA US) has fallen 40% this year while Bitcoin has fallen 23% before rallying almost the same amount in just a handful of weeks.
In a nutshell we remain bullish precious metals still believing silver can test / break its Reddit inspired panic rally in early February, gold unfortunately is dragging the chain and might struggle to breach $US2000/oz but such a move should reignite the sector:
