In the short-term, the risks are building up to the downside…
Tom welcomes back David Brady, CEO, and Co-Founder of Global Pro Traders, to discuss the direction that gold will be heading over the short to long term. David is getting flack for suggesting a pullback is about to occur in the gold markets since the Fed has begun tapering. In the short-term, the risks are building up to the downside. He discusses why it’s normal and healthy to have pullbacks in a bull market. The sentiment is currently quite bullish, with many people claiming “that this time it’s different.”
He expects to see a pullback in the next few months until the Fed re-opens the spigots around the election. Something will happen ahead of the vote to help Trump get re-elected likely in more stimulus or massive infrastructure spending. The economy will continue to deteriorate, and we should expect stagflation in the coming years. After this year, we will never again retest these levels, so he recommends investors see the next dip as an excellent buying opportunity. He expects a continued lockdown into the fall and further trade wars with China.
He gives us his predictions for silver, oil, and the general equity markets going forward and why prices could go much higher. Lastly, he discusses specific price targets for gold and silver.
Time Stamp References:
0:40 – Bullish but expect short-term correction.
10:45 – Final buying opportunity at these levels.
15:20 – Expect a dramatic new round of printing by Q4.
17:30 – Expectations for silver
20:20 – The outlook for equities and oil.
24:30 – Levels to watch on the downside.