Sentiment is reaching new highs, and a lot of leverage is being deployed in the markets. Chris is concerned about what could happen from a second wave of the pandemic. Things are starting to get pretty ugly, and anything could happen.
He says, "This is the time you buy your gold, you buy your gun, buy extra food in case riots start happening... this is a possibility that you have to think about." Oil tends to correct itself, but since crude went negative, it has attracted short-term momentum traders.
A small sideways pause follows each rally, but if a significant sell-off begins, there could be collapse as investors head for the exits.
All these things are good for gold, gold is a global safe haven, and the Fed is likely to continue stimulus, meaning gold could go much higher. It could be fantastic for precious metals and miners if they go ballistic with printing and further devaluation of the dollar.
- Source, Palisade Radio
