TSX Venture Exchange and Gold
Another impressive week for the Venture as it gained 14 points or 1.9% to close at 766, despite the $28 or 2% drop in Gold. That’s a clear statement from the Venture that the pullback in Gold in recent days represents an excellent buying opportunity – bullion’s primary trend remains very bullish, even in the event of some additional minor weakness. Silver barely budged last week, losing just a nickel, as it continues to outperform Gold as is typical in a bull market.
The Venture is now up 300 points or a whopping 64% from its January all-time low of 466, but the masses are still not convinced that this move is for real. That’s good, because they’re ultimately the ones who will help drive the Index above 1000 again when “reverse capitulation” sets in. We look forward to that moment!
The Venture is in the grips of one of its greatest bull runs ever which suggests that Gold has much higher to go while the world slips further into chaos, forcing central banks to keep printing “funny money” and maintain interest rates at historically low levels.
Indeed, a “Perfect Storm”…
In today’s report, what you need to know about the Venture, Gold and the U.S. dollar, and a “heads-up” on a few interesting plays for next week…
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