RE:Is blood running in the streets yet?
Yup, old timer now, asking cashiers if there is a senior discount and jostling the grandkids on my knees.
It is looking more like a recession will follow this rate rising cycle, hard to say how risk-on junior mining assets will be priced in the interim. But the long chart for gold remains in a strong uptrend from 2000 - it has traced out a massive cup and handle from the 2011 interim peak. So far the long up trend line has shown support, which is in line with accumulating wealth especially in countries where faith in political and economic stability is not high. Personally, I think predictions of a crisis out of the American financial system to send gold prices soaring is premature and will be many years or decades away. In the meantime, however, simple compounding inflation and fear of volatility from financial markets will provide support and moderate price gains.
On industrial metals, particularly copper, we need to weather the post-Covid inflation, rate hikes and recession cycle. There is also a long term trend here towards depletion and demand pressure, but interim signs are for weakening in the shorter term.
Lets just say accumulation of quality leveraged mining assets now, or even next year when prices may be even softer, will eventually pay off. But in order to survive the interim period we may all face some dilution at unattractive prices to keep companies solvent and projects progressing.
It may be a tough fall, winter and spring ahead, but I for one do not expect a deep recession. Global production chains remain intact, there are still billions of striving people who want to be consumers, a younger generation in the Americas and a Europe who have a huge suppressed demand for housing and consumer durables. They talk a big line about reduced consumption but they are talking up their own situation in a positive light - they want bigger houses and more things to make life raising their families more comfortable, just like we did,
I guess my demeanour today would be "hang on" and "buy the dips" and wait patiently, our day will come. But you need a longer timeline now?
cg