Melman on Gold & Silver
July 2019 by Leonard Melman
This past month has been filled with headline-grabbing news events and, for a change, it was not only politics that dominated those news stories, but rather financial markets themselves, with gold and mining shares grabbing a major share of attention.
After six years of primarily sideways action, gold broke decisively to the upside by breaking above strong resistance between $1,350 and $1,400 by soaring to near $1,450 before correcting moderately.
...a presentation of these important trends—which coincidentally have dominated the recent news—and my resultant predictions for 2016 and beyond, will make up the majority of this column.
It is difficult to look at unrestrained growth in such important monetary indicators without becoming concerned about the future stability of America's economic system.
Once again last month the world seemed to be tottering uncertainly on the precipice of whether to continue with some manner of austerity in order to begin restoring government balance sheets to some semblance of fiscal conservatism or whether to openly return to the previous eras of wide-open stimulation via debt, deficits and unlimited money creation.
What gives this illustration great importance is America may be facing the same kind of dilemmas that have brought Japan’s market such long-term grief.
With conventional financing still difficult to obtain, it is little wonder that “self-financing” is the number one form of financing used by small business owners, miners and prospectors.
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