Post by
oldmanmike on Jun 12, 2023 12:51pm
Fed meeting followed by fed raising $1T in 3rd qtr
Headwind for precious metals will increase very soon. The Fed will probably increase interest rates by 25 basis points on Wednesday and also plan to raise about $1T in Treasury bills in the 3rd qtr. That will drain liquidity from the market causing the markets to correct. Such a large float of treasuries to be issued will drive down prices and interest rates up. Gold and silver has not performed well, atleast initially, under such circumstances. I'm looking for gold and silver prices at $1800 and $20 respectively by Late Aug. I stated 3 weels ago Aris was a $2 stock. TD securities put a price target on Aris of $2.10 to $$2.30. It might be wise to lighten up and stand aside...preserve capital for Sept./Oct. Cheers to all.