Bad week for the market, good for gold

by JDH on October 5, 2019

I’ll keep this brief, since my thoughts haven’t changed since last week.

The market hit a rough spot this week, and so did gold, but gold finished strong, and I expect gold to have a strong week or two coming up.  Why?  It’s down, but it’s in an uptrend, so we should see strength in coming weeks.  Also, “golden week” in China is ending, and as I understand it, it’s like a vacation week where nothing happens, so no gold is purchased, which depresses the world wide place.  By the end of next week everyone is back to work, so I assume that will give gold a bump.

Or not.  What do I know?

I am also continuing to raise cash, because cash is king, and I would like to have a lot more cash in my pocket than I do now, so I continue to sell my non-gold holdings on strength.

That’s the plan; see you next week (if I have anything intelligent to add).