Love I80 but there's no hope for gold until the FED folds...Way it is. Target posts big numbers and the retail giant rallies. Buy now pay never is alive and well. Until the FED folds...which will not happen until the economy is well and truly in the gutter...there's little reason for precious metals to do anything. They will drift lower dragging all miners lower including I80.
The good news is we are not far away from that panic button moment. Every rate hike brings us one step closer to something systemic breaking. It could be Japan, something in credit, housing, or any one of a number of triggers.
I'll stick to my plan of adding shares at each of the upcoming FED meetings. I am 100% certain that the global system that's leveraged to the hilt cannot sustain 5% interest let alone 6% as has been bandied about. Inflation is not ever going to 2%...it's only been there a handful of times in the last 50 plus years! The FED and other central bank know nothings will continue to pile the straws on the camels back...and it will break
That's when gold breaks out and never looks back. I doubt that we make it past mid year so that's 3 more FED hikes and 3 more opportunities to add shares
In the meantime I'll collect my 5% interest on TBills and wait.
Not much more to say. I have a plan and I'm sticking to it. Have a good rest of your week
Metalhead over and out!