In This Issue
Optimism coming through the opaqueness of reasoning
During the week we saw the All Ords break strongly to a new recent high, back to where it was pre-virus, while the Metals and Mining Index surged through a short-term downtrend line. Both moves were very positive.
The gold price has been on the rebound over the last week, rising about $60/oz from its recent low pf US$1,684. Gold producer share prices have rebounded as well with a number of them testing downtrends. Time will tell whether this is another trap or if it is indeed a serious reversal of the down trend. In the interim, it is delivering a more positive sentiment this week.
Through all of this opaqueness in the economics and markets, we see optimism coming from th CEO of JPMorgan, Jamie Dixon. He is saying that the USA is going through a Goldilocks period that could continue until 2023, on the basis of strong consumer savings, expanded vaccine distribution and the Biden administration’s proposed US$2.3 trillion infrastructure plan. He anticipates fast, sustained growth alongside inflation and interest rates that drift slowly upward.
|
Suite 24, Level 6 259 Clarence St Sydney NSW 2000 |
Phone: +61 417 863 187 Email: |
