Gold and gold stocks sold off sharply in Monday’s trading session. The hope seems to be that a vaccine will cause the economy to quickly return to the way it was in 2019, thereby leaving less need for fiscal and monetary stimulus. As Jim will elaborate further in the future, that is not what we expect. The case for gold and gold stocks is as strong as ever and sharp sell-offs in our recommended gold stocks are buying opportunities. For now, read on as Dan gives guidance on all the open positions, including one sell alert that was issued last week.
Although Jim still expects gold to move higher in the year ahead, prices will likely consolidate in the weeks ahead after rallying from their March lows. Since history indicates a correction is likely, let’s take 50% gains on KGC now.