Post by
mouserman on Dec 04, 2020 1:30am
DNG share price held up well today
While most of the miners on my list sagged down today... DNG did allright and was up a few pennies. I suspect if we see spot gold rise again tomorrow, the gold miners group will bounce back up quite nicely. Seems still a lot of exuberant buying in the general markets despite the current economy in North America. Not exactly firing on all cyclinders, and DOW and NASDAQ seem to be bouncing of alltime highs...
Something wrong with that picture to me. Without the helicopter money created from the FED (and many other nations) ,and the news of successful vaccines in treating COVID ,i doubt we would be anywhere near the highs in the stock markets.
Sooner or later more stimulus money will land , and this is the driver of gold. Historically money supply and creation have made the spot price of gold jump. Of course more competition out there now with DIGITAL currencies , like bitcoin etc....so precious metals dont get all the attention any more.
BUT if and when you can give me a bitcoin i can hold in my hand and store in a safe... i will get interested. Until that time, its just more funny money, created from nothing.