The Smartest Investors Club
  • Business
  • Politics
  • Investing
  • World
  • Business
  • Politics
  • Investing
  • World

The Smartest Investors Club

Investing

Craig Hemke: Gold’s Fascinating Run, Silver and Mining Shares Next?

by October 8, 2024
October 8, 2024
Craig Hemke: Gold’s Fascinating Run, Silver and Mining Shares Next?

Over the last six months, gold has been on an upward trajectory, registering fresh all-time highs nearly every month. However, the yellow metal’s price has faced some resistance since hitting US$2,670 on October 1, driving it as low as US$2,639.

Hemke explained in the October 3 interview that this is likely the result of the market testing resistance at the US$2,650 level.

‘We’re pulling back and testing that level of support,” he said.

“Technical analysis when you’re in this area of new all-time highs is pretty tough to do. It doesn’t surprise me that we’ve kind of paused here, but things could change pretty rapidly, both economically and geopolitically, in the next few days.”

Because of these numerous global and national challenges, Hemke believes “all bets are off” as to where and how much further gold’s price run could take it.

He also touched on silver’s inability to make the 30 percent gains its sister metal has displayed this year, and the under performance of mining shares.

“Probably the most frustrating thing for a lot of investors is silver is (just) kind of playing along, and the mining shares are playing along even less than silver is,” he said.

On the topic of when miners could catch up, Hemke discussed the surprising correlation between the price of silver and the value of the VanEck Gold Miners ETF (ARCA:GDX).

‘Gold keeps going. Silver will eventually move as well. And when silver moves, the mining shares will move. Strange as that may sound,’ he said.

Watch the interview above for more from Hemke on gold and silver.

Interview by Charlotte McLeod. Article by Georgia Williams.

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com
0
FacebookTwitterGoogle +Pinterest
previous post
Vertex Minerals
next post
Daydream-2 Operations Concluded

You may also like

Peter Krauth: Silver Industry at Inflection Point as...

Holding(s) in Company

Yukon Juniors Look for New Discoveries, Try to...

Helium Evolution

How to Invest in AlphaFold Stock

Sona Nanotech Updates on Dalhousie Efficacy Study and...

More Exceptional Metallurgical Results from McDermitt

5 Key Announcements from Google’s I/O Event

Finlay Minerals stakes the JJB Property – within...

Crypto Market Recap: Research Highlights Blockchain Platforms with...

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • Metals and Mining Virtual Investor Conference: Presentations Now Available for Online Viewing

    • Vance says India-Pakistan conflict ‘none of our business’ as Trump offers US help

    • Trump pushes tax hikes for wealthy as ‘big, beautiful bill’ deadline looms

    • US and other allies of Ukraine pile pressure on Putin, threatening fresh sanctions if he refuses 30-day truce

    • OpenAI’s Sam Altman thanks Sen John Fetterman for ‘normalizing hoodies’

    Categories

    • Business (1,633)
    • Investing (4,792)
    • Politics (7,541)
    • World (6,130)
    • Terms & Conditions
    • Privacy Policy
    • About us

    Disclaimer: thesmartestinvestorsclub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 thesmartestinvestorsclub.com | All Rights Reserved


    Back To Top