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MIDAS December Portfolio Update

Dan Amoss
By Dan AmossPosted December 11, 2020

Our positions has moved sideways for the most part in recent weeks as the gold consolidation continued. Some positions are outpacing others, but our view of any particular stock has not changed very much. We don’t expect this consolidation to last much longer because the conditions for gold to surge higher in the weeks ahead are favorable. For now, Dan updates the latest developments for all our open positions in the portfolio.

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Jim Rickards’ Gold Speculator with Dan Amoss

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Dan Amoss

Dan Amoss

Dan Amoss, CFA, tracks aggressive accounting and other red flags that markets miss. He’s a student of the Austrian School of economics and Daily Reckoning fan since 2000. Agora Financial relies on Dan for macro market commentary as well as profitable plays like his 2008 call to readers to buy Lehman Bros. puts, which...

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A central bank can arguably be worthwhile as a liquidity backstop in an emergency. However, when non-economic actors start exerting a heavy influence on private sector activities, there are bound to be suboptimal results. In today’s economic conditions, circumstances may ultimately force the Fed to take even more extreme actions than it has taken already. If so, the demand for a politically neutral, un-printable, stable reserve currency to settle international trade could rise exponentially. That currency is gold. For now, Dan gives guidance on all open positions in the portfolio.

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All of our positions that are still rated buy look attractive, especially after the correction in gold. Jim doesn’t expect this gold correction to last much longer, because a variety of factors could emerge to propel the metal into its next significant rally. Look for more macro guidance from Jim in his next Gold Note. For now, Dan gives guidance on all the open positions in your portfolio.

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The long correction in junior gold and silver stocks continues as investors are fearful of what the Fed’s tightening plans will do to gold prices. But the longer we are in a negative real interest rate environment due to high inflation, the better gold performs as a store of value relative to the U.S. dollar. It has been a fairly quiet month in the portfolio as juniors gear up for summer 2022 drilling season in the Northern Hemisphere. For now, Dan gives guidance on all the open positions in the portfolio.