Gold Holding Strong - MAKE OR BREAK Moment! - Jeff Swinoga
This past week we have really focused on the gold and silver markets looking at mining production, acquisitions by central banks and sale of US Mint gold coins. I would love to report that everything is coming up roses, however...
We have geopolitical issues that circle the globe, BREXIT is back on table, along with serious banking issues across Europe and the reality of the U.S. economy is beginning to surface. These issues, and a great many more, paint a picture that is ripe for gold and silver to make major moves to the upside. The only problem is the COMEX and LBMA being in control of the pricing mechanism. Within the next few months it's not going to matter who is pushing or pulling the levers as economic mother nature is going to come roaring back onto the scene and she will announce her arrival with gold and silver moving seriously to the upside.
The past five-plus years we have seen the mining industry completely gutted by the lack of capital inflows. We have seen the rise of cryptocurrencies betting removing capital from the precious metals market and we have also seen, in the Western markets, a complete lack of interest in the precious metals. As it has been said before, the time to buy is when there is blood in the streets. The streets appeared to be soaked.
Rory, with The Daily Coin, sat down with Jeff Swinoga, President and CEO, First Mining Gold, to discuss the current state of the gold market.