The July newsletter was delayed for a few reasons, not the least of which is that we’d hoped that the price action would paint a clearer picture for you. Unfortunately, it hasn’t just yet, and it may be a couple more weeks before that happens. The extraordinary cross-currents in the markets continue, and we suspect this is the “new normal” for the next several quarters as the war drums get louder and more intense.
That intensity has fueled more volatility in the precious metals markets than we’d hoped for. One would suspect that the geopolitical insurance role gold plays would cause that premium to continue to rise. However, gold is also a highly liquid market, and when other markets go haywire (energy and tech!), it can cause temporary selling pressure to cover losses in other markets. We believe that is what we’ve witnessed over the last thirty days. The possibility exists of another short-term dip. However, it seems sellers are close to finding the level that long-term buyers are eager to step in.
Finally, you may have missed it, but this month a rather well-known gold dealer went bankrupt. Therefore, in this newsletter we’re going to draw your attention to two articles written by our COO, Josh McLeary, that shed light on why this occurred and why OWNx is structured to shield you from something like this ever happening to your metal.
As always, we’re here for you,
The OWNx Team
