InterestInteresting that insiders have been buying. I wonder if they know something we don't? Somebody must be kicking the tires....
too bad that gold can't seem to get a break. It just shows how much the market is dictated by US interests. Anyone holding gold in any currency but the US dollar has done well - even gold in Canadian dollars is great. You'd think Yamana would be able to do more with Malartic than they have. The thing about the price of gold is that it depends on the general US stock market sentiment. Good quarterly reports have been goosing the market higher, but quarterly results are by definition backward-looking. You wait until consumers cut back spending. My prediction is that when the market turns it will turn hard. We've had too long of a bull run and people are complacent. It is kind of a magic show - the GDP in the US is something like 70 percent consumer-driven, and everywhere you look there is debt and unfunded liabilities. If they have to start paying it back, while coping with tariffs and higher gas prices,this is when gold will do well. Have you noticed that every time the market gets a hit, the next day it bounces back. After this happens often enough people start trusting it. The market, when it does go bearish, will destroy those people.
Trump already wants lower rates and QE because he wants the dollar down, so that other countries (ie China) can't drop their currencies to counteract the tariffs. If there is a genuine recession on top of this, the US dollar is going to get diluted a ton.
I have a theory about the tariffs - they are exactly the same as the GST here, ie a consumption tax. Add political popularity and you have a winner, so why would Trump drop them? Imagine having a tax you can increase at will and blame it on other countries!! Tariffs are here to stay, I figure.