David Kranzler of Investment Research Dynamics is warning that precious metals are preparing for a “monster move higher.” He said despite the right factors (high inflation, escalating geopolitical tensions, and an impending recession), the metals market’s action has been frustrating. However, he believes that will soon change. “I expect a big move in the sector sometime between now and the end of October,” he said. He expects gold to hit $2,000 and move higher.

 

Mining Stock Journal via GoldSeek/Dave Kranzler
The Precious Metals Sector Is Percolating For A Monster Move Higher

With all of the factors in place to support a big move higher in the precious metals sector (raging inflation, escalating geopolitical tensions, recessionary economy, etc), the recent market action is frustrating to say the least. To be sure, a certain percentage of the poor performance in gold, silver and mining stocks is attributable to the ongoing decline in the general stock market. It’s a bear market.

When capital pulls out of the markets (stocks and bonds), it pulls out of everything. March 2008 to late October 2008 is a good parallel to the current market. At some point there will be a catalyst, or catalysts, which triggers a positive divergence of the precious sector from the rest of the stock market. The most likely event will be reversal by the Fed of its monetary policy.

That said, gold continues to move in a steady uptrend that extends back to March 2021…

Continue reading, here.

 

Business Insider/Zahra Tayeb
It’s only going to get tougher for global growth this year as economies navigate ‘very choppy waters’, IMF chief says

The head of the International Monetary Fund has warned the prospects for global economic growth have become even gloomier in the few months since the IMF slashed its outlook for this year.

Economies worldwide are in very choppy waters, Kristalina Georgieva told Reuters in an interview published Wednesday.

The IMF managing director noted that high levels of inflation are now being seen in more places around the world, and that central banks have started hiking interest rates aggressively to tame it.

Keep reading, here.

 

NPR
Economic signs are monitored for indications the U.S. may be headed for a recession

NPR’s A Martinez speaks with David Wessel, director of the Hutchins Center at the Brookings Institution, about economic indicators and the likelihood of a recession in the U.S.

You can listen to the full podcast, here.

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