Greetings, Investors.
We’ve had a mixed bag of performance with our precious metals-related holdings despite the record gold price which this morning is suggesting it doesn’t want to pause at the $3,000 area after all.
And as I pointed out in my discussion with Borealis’ Kelly Malcolm, it’s clear that buyers are aggressive to get physical supplies of gold wherever they can, seemingly of a mind to get what they can where they can before prices rise any further.
I’ve been of a mind to wait and see what the Fed meeting tomorrow does (or does not do) to the metals before we get on this train more aggressively. There is a chance that if Powell and Co. really dig their heels in and seem to want to stay with their wait and see approach for a while–and give no nod to those who think rates should be cut–metals might correct more.
So what we’ll do for today is take anew slight positions in both the VanEck Junior Gold Miners ETF (NYSEArca-GDXJ) and the Amplify Junior Silver Miners ETF (NYSEArca-SILJ).
All accounts should take a 2% portfolio position in each.
Near- to longer-term, we’ll likely increase these/add to our variety of PM holdings once more. I’m of a mind, as you know, that 1. Ultimately silver will play more catch-up to what has been the far more robust gold move and 2. More of the equities that deserve it will play catch-up with the metals generally.
All the best,
Chris Temple
Editor/Publisher
Tuesday a.m. — March 18, 2025
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