Endeavour Mining plc T.EDV

RE:Rant Time

[marben100]

Hi Ronnie,

"patience" is the watchword, IMO. What we saw yesterday was a kneejerk reaction to a hike in treasury yields, on the back of the jobs report. But what was overlooked was that, from the perspective of gold it's not nominal yields that matter but real yields. With inflation surging, real yields remain negative and around record lows - making it more attractive to hold gold.

Gold has a strong negative correlation with real yields, as shown here: https://en.macromicro.me/charts/724/3month-bond-real-yield-gold-price#:~:text=Real%20interest%20rate%20has%20a%20negative%20correlation%20with%20gold%20price.&text=When%20the%20inflation%20%25%20outgrows%20the,declines%20and%20gold%20price%20rises.&text=When%20the%20deflation%20%25%20is%20bigger,becomes%20less%20inflation%2Dprotected.)

Just wait for the headlines to scream "inflation" and gold will likely rebound, taking Endeavour with it.

Plenty of positive newsflow (and index buying) to look forward to over the rest of this year too.

Best,
Mark