CORRECTION -
PMs are strongly down this morning as markets crashed from Asia to NYC. This was to happen eventually, but timing was the issue. Clearly, the US will now be entering a recession. If so, the place to be is in precious metals, though perhaps not this week or this month.
I expect this recession to be short but severe. Why do I say this?
Of course, the Fed will lower rates more than expected, and the economic foundations behind US re-industrialization remain strong. However, our banking system is a possible fly in the ointment.
POG at this moment is down about TWO percent, and silver is down about FIVE percent. Copper, too, is being whacked.
For exploration-phase miners, "discovery" matters now more than ever.
