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 thank you I'm Charlotte McLeod with the investing News Network and here today with me is darned Rhett of goldstockdata.com he's also an author and you can follow him on Twitter we'll have all the information in the video description below Don thank you so much for joining me today great to see you me Charlotte first time I've been on your show appreciate you having me on really nice to be talking to you for the first time I'm excited about this interview because I think we have a lot

to cover I want to start by talking about the gold price so we always hear that the gold market is cyclical and I wonder if you can start by telling us where you think gold is at in its current cycle yeah it's really interesting so the reason why I say it's interesting is because gold and silver both broke out back in well go broke out in 2019 June 2019 and then silver broke out June 2020 and we had this big breakout in the summer right after code in 2020. and since then we've been in it's a

really really long correction in 32 months and it's been very frustrating for investors to you know go through through you know after basically having this really big run in 2020 thinking we're going to make a bunch of money on the miners and then basically hit a wall you know on August September of 2020 so the cycle has been you know very frustrating however and last year for instance I remember in January I'm 22 I thought maybe goals would do something in 22 but it didn't and I'd figure that out right

in January 22 I I really recognized that gold is trapped tears nothing's going to happen in 22. we're just gonna have to just wait it out and wait and basically the waiting out were and Howard we're basically finding farming getting into that cycle of waiting so what we're waiting for is the headwinds of the market to basically clear and what I mean by that is we need to have the stock market sell off and and Order for there to be no headwind for gold to finally be able to move higher and

what's going to allow that to happen is what I call the fear trade and so when you get this final selling on Wall Street and I think it might have started yesterday this final selling his final sell-off I mean if you could go back on the S P 500 from October of 21 until now it's basically been a downward lower lows but we haven't had we've never we've had zero uh capitulation selling days throughout this entire sell-off there hasn't been a single one if you go and you look at the volume there hasn't

been one high volume down day which is amazing and we're gonna have one I just don't see any way that that doesn't happen and so the selling's coming and so when the capitulation finally comes I really feel that gold will finally the stock market will get out of the way if you will and once it gets out of the way then basically people are not going to be putting their money into stocks and they're going to be a little leery of bonds as well and so more money will go into gold as that fear trade and once we

get above 2080 so the two numbers to look for us is 2080 on gold and 30 on Silver those are my breakout numbers but and I said this is that once we get to 1950 above 1950 in Gold then that's when we can kind of get start getting excited but even though we got it above 1950 and we bought a bin above it for four weeks sober hasn't Silver's tried to to come along but it isn't really it's it's you know right around 25 and it used to get to 27. and so you know it's hard it's

really hard to see exactly what numbers to look at what's going to break it through um but I think 27 silver for me is a real important number once we get above 27 and I think we're getting ready to break out so we got you know 27 30 on Silver and then you have 1950 and 2080 on gold the 1950 doesn't seem to be really because it doesn't look like it's not significant so now where are we going from here in the short term in the short term I think Gold's gonna go down somewhere between 1800 and 1850 and

that'll be that final capitulation selling and once that's done I think then if as long as gold holds 1800 that's a really key level as long as it holds 1800 we should get to 2300 this year so we're above we don't you know we stay above 1800 say between now and the end of June then I really think that gold will really run fast and seller will just you know it'll come running and so once gold gets above 2080 silver will get above 27 fairly quickly once Silver's above 27 I really think it's

gonna be like a magnet that pulls it to 30 and once it's above 30 then We're Off to the Races but if you want to be conservative you really want to wait for you know 28 29 30 silver to jump in if you want to be really conservative if you're more aggressive like me you're buying stocks cheap you know cheap stocks now looking for opportunities on this coming dip and then you know and then waiting basically waiting for this breakout to happen so you know it's all for me it's all about the s p and the

stock market we basically need the s p to go down I think sub 3500 3500 is like the was the low for this so we need a new lower low basically the reason why I say sub 3500 is important is is because that is going to kind of break the back of Wall Street the momentum and the sentiment I mean it's amazing uh how Wall Street is cherry picking these numbers and I'll get i'll you know I'll just throw one number out there that I saw yesterday that how how Wall Street is just completely ignoring that the

possibility that we're going to avoid a recession here this you know a soft Landing um mentality um somebody posted a chart yesterday on my Twitter page showing the mass layoffs that are coming the the warrants there's something you had the corporations have to submit a document if they're going to delay of mass layoffs in the next 60 days and that jump that spiked it spiked much higher than 2008 showing that in the next 60 days we're going to get a lot of layoffs so everything you know all the data

numbers seem to point to recession um you know the fed's going to raise rates next week to five and a quarter I'm pretty certain I'm going to do that that's bad for the market right houses housing is already having trouble with high rates Autos are having trouble retail commercial real estate's having a lot of problems with these higher rates we got a lot of headwinds in the economy so anybody that points Cherry picks some of the positive numbers such as you know GDP you know two two and a half percent

or jobs haven't fallen off they're not recognizing which kind of in the pipeline and what's in the pipeline is these higher rates take an effect and so that's the reason why I'm saying we're going to 2300 this year of 1800 holds because once things start to Trend down in the economy gold is basically going to get a bid here I think so that's my thoughts on gold I think we have a lot of threads that we can pull on there and where I want to go first is you mentioned that yesterday

might have been an important day in terms of the stock stock market there so we're talking today on April 26th yesterday was the 25th can you go into that a little bit more on what you saw there and what makes you think that this might be at that point that we're looking for there um yeah excellent question so last year I think we had it was a very volatile year and we had I forget how many number of days there were that NASDAQ was down more than two percent but you know he was at least 20 days basically a lot of down

days basically in the NASDAQ last year this year we've only had three it's it there's been very little volatility the vix on Monday was at 17 which is you know way very low and yesterday the NASDAQ was down almost two percent but it wasn't down to two percent and then today was down I think it was up actually up today but it was kind of rebound a little bit from yesterday but still yesterday the Dow is down 300 almost two percent as well and so yesterday was kind of kind of a signal I thought that maybe

you know that this will let this run that we've had this year up to almost 4 200 is probably coming to an end because I didn't think we were going to go above 4 200. so we got to about 41.50 maybe a little above that and then today I think we're down to 40 50. and so the 50-day moving average once we go below that 50-day moving average it's like 40 34 which is right above it once we drop below that it's probably going to be lights out and they're not going to be able to stop this momentum downward so

everything goes and Cycles right up and down up and down but you know all this negative all this negative data that's coming out um you know today the last 2D here is amazing now Wall Street just focuses on on the good stuff right so Microsoft had a decent number and they went up you know I think 20 and then meta today had a decent number and they're after hours they're up 10 now people are focusing on you know these you know these you know cherry picking this stuff but there's a

ton of bad data out there as well then I think overwhelms the good data and so I think that you know we get below that 50-day moving average and the more earnings are coming out here over the next two weeks and if we get below that 50-day moving average and we're going to drop below 4 000 and then you're going to you're looking at 3 900 and 3 800 and so you started getting into these dangerous areas you know they're dangerous areas for Wall Street you don't really want to go

below 4 000 you don't want to go both 39 you don't want to go 38. you know they're talking about you know this range you know 3 800 to 4200 you know they'd love to stay in it but the chances of them getting breaking out above it is very low but the chances of breaking down below it are very high so the way that I talk the way that I've you know I could coach people on how to you know invest on mining stocks and what I say is you need to think like a professional poker player when they have

a hand they only bet money when they feel that the odds are in their favor and that's kind of how you have to do be as an investor that's all you have to do you have to feel you want the odds in your favor heavily not a little bit you know you want them like 80 in your favor you know for instance if you get dealt three of a kind the odds are heavily in your favor right it's it's this that type of thing you want to be heavily favored like right now betting that we're going to break out

above 4 200 is not a high high risk roll fart back but betting we're going below 3 900 is very good in my opinion and you get the low 3 900 here and it's going to be hard for them to stop it um also you got a couple of things that that kind of implied that we're going lower one the fed's going to low raise rates next week and that's probably going to be the last raise I rate hike and people are saying sell the last rate hike and what you know and the other one is sell and may go away so you got both of those

themes playing out here starting next week and so that's why I think yesterday could be the the trigger point for this next downward Trend down to 3 500 and possibly you know my target is 3 200. so we'll see what happens all right and in terms of the fence so you mentioned probably at next week's meeting we get a hike most likely it's the last one what do you see going forward after that because they've heard so many different things about whether we had Applause maybe we even gonna

pivot people have all kinds of different ideas about the timings on that so what are your thoughts and I think that this is um kind of a paradigm shift for the US economy U.S as a whole everything social political changes that we're we're literally experiencing a paradigm shift and the FED is kind of since the US is basically one big Corporation and the fed's like you know they're like the biggest company and they're like the CEO and they're they're like you know they're

like Amazon for a company they basically control every control everything right well the the FED in my opinion is losing control of their tools what they do to basically um control the economy for instance in 2008 nine the last time we had a recession they pulled us out of that recession fairly quickly by the spring of 2009 it was over and the re they put they did it because they had very powerful tools and they didn't have a lot of auxiliary problems like the dollar like U.S trade like we have today

they didn't have these auxiliary problems and they were able to lower rates to zero and they were able to eject money and it basically rebounded everything was fine but this time around it's not going to be so easy taking rates to zero in 2023 is is a non-starter it can't do it I don't believe because they they did that it would you know it basically to lower rates that quickly um I just think I don't expect that to happen and I think the inflation would would come back and and I don't think

they want to have inflation about five percent so if if they did raise rates we know they're going to print money and what I'm talking about here is basically we're going to go into a recession this year and so there if they they can't print as much money as they would like to so in my lifetime the FED could always do whatever they wanted and I think that right now today they can't they can't they can't lower rates to zero and they can't print as much money as they're

going to want to or they need to um the US economy in my opinion was damaged by covet and it's somewhat being covered up by the amount of money printing that's sloshing around I mean I don't we don't know how many trillions they printed out in from 2020 today but I think it's about 5 trillion maybe more they they injected a lot of money that liquidity is one of the reasons why the economy basically where the stock market was able to M economy both were able to float basically for the last 12 months

plus it hasn't you know we haven't seen this crash in GDP we haven't seen this crash in in jobs and I think a lot of that has to do with the money printing but now can they continue to do that can they print basically a will whatever they need um when this next recession hits and I think it's a paradigm change and I don't think that they're going to be able to do what they did in 2008 2009 and I think everybody's going to be shocked that basically the FED is basically feckless that they can't

turn a few knobs and basically get the economy back to you know on its feet again then you have a demographic problem in the country where all the Baby Boomers not all of them but the majority of them are retiring and when they retire those incomes basically come off the board they stop making money and they don't spend as much money um and that's lower taxes as well so you know those big incomes when they come up that's less taxes for the government so and those can get replaced by service

jobs and that's that hurts the economy so growth it's going to be really hard to you know re basically bring this economy back on its feed and grow you know at two percent plus two percent is probably the best they can do um but I I think we're going to be we're basically going to turn Japanese and we're basically going to muddle right around zero growth so up and down you know minus five plus five for the next two to three years and it's basically going to be very stagnant growth and

inflation's not going to go away we're going to have some bouts of deflation I think uh deflationary pressure on assets and inflationary pressure on Commodities and and stuff we need Services as well um because people are going to raise their rates because you know because of inflation certainly that's what basically what happens in services and services are already that's one of the reasons they're going to raise rates tomorrow is because service inflation is something that they're concerned about

um and so they it's I yeah that's what I think I think we're basically going to hit a wall we're still in basically we're on Easy Street still in the U.S what I mean by easy street is um companies are laying people off left and right so people are keeping their jobs and they still have you know enough income to there's a lifestyle hasn't really been impacted and I think that we're starting to see the middle classes lives be impacted we're seeing you know uh different polls where people say that

you know 70 percent of families are basically you know having trouble with like their you know their their their bills if you will only 30 percent are basically have their head above water and so we're seeing that we are seeing some people already starting to get impacted and I think it's going to get a lot worse now we're not going to crash but like I said this our standard of living I think has gotten is over the next two to three years is is going to go down and it's going to be a bit shocking and it's it's

it's a big shift and people think that we're going back to a new normal but the Ukraine war basically sped up what what I'm talking about was going to happen but the Ukraine war actually sped it up and it's the reason why it sped it up because Russia and Europe you know that relationship has been strained and Russia was helping Europe with their economic growth so now Europe's growth has slowed well that slows our corporations selling stuff to Europe right and then China China is now our basically

they were our competitor a certain extent now they become our antagonistic enemy to a certain extent economically um and I don't know if that Genie is going back in the bottle and so it's it's getting really messy Global uh the global international trade is getting really messy and it's not good for the us because the U.S has dominated that since the end of World War II where we set all the rules you know the G7 for instance G20 we we we set all the rules and now those rules are starting to get

broken down and yeah I think by the end of this year 2024 we're going to look back and say what just happened to America I'm curious as well to know what you think about the banking issues happening in the US we had those collapses last month and then it seemed to follow the headlines people seem to forget a little bit and then of course this week we have First Republic Bank and headlines as well so how are you seeing that fit into the picture that you're describing here remember earlier I said that Wall Street

was cherry picking the data and this is one area that they're ignoring so the banks are the in many respects the engine or the economy because they make all the loans and they keep the they keep the businesses floating through liquidity and the banks now especially the regional Banks but even you know the investment banks on Wall Street they've been damaged and so they are not going to they were already in retrenchment as far as loans go um he saw this two trillion dollar overnight stuff that they're doing right

instead of instead of loaning it out they're basically loaning it to the FED overnight two trillion dollars right so they're all they've been in retrenchment for maybe since covet started well that has gotten even you know more negative so that's going to hurt the economy and everybody's ignoring this you know that's that's going to hurt it and then so the banks are already damaged and their loans I'll give you a perfect example the guy tweeted um I don't know it was over the weekend

or as early as week that he was a developer a successful developer who never had trouble basically with getting bank loans and he was trying to get a loan to build a 30-story building and a hundred Banks turned him down a hundred and this is a guy that never had trouble getting money so if that shows you how the banks are basically saying we're not loading any money out for construction or you know this is bad um and this is really you know one of those bad data points that they're ignoring

and so yeah the banks you have another place where the banks are really becoming you know hesitant to loan money is for automones it's going to get harder for you know for people you know back in during covet it was easy for people to get an auto loan right in many respects it was like the housing boom from 2001 to 2006 seven it was easy to get a housing loan okay well during code but it was easy to get a car loan basically anybody could kill one to a certain extent well now that's not the case and so

uh that's affecting the Auto industry and so yeah so the banks are you know many respects are like the canary and the coal mine they're basically signaling that things are going to get worse than we think any other factors that you are watching right now when it comes to Gold I know we've been through a lot of them but if there's anything else that you would mention that you think investors should be keeping their eye on yeah um you know what's interesting this kind of dovetails back into the macro

because I think that gold the price of gold really revolves around um you know the act the economy and you know the macro data and for me the only reason why the one percent crowd the hedge funds uh you know basically the big money Players the only reason they buy gold is basically defensive they don't buy gold for offensive they don't say oh Gold's going up you know I'm gonna buy gold that's not why people buy gold it's always defensive because these are people with a lot of money already it's

it's an asset that they want that they that they feel it's gonna basically hold its value maybe go up 10 20 30 over the next three years it's it's a safety play and so I've so for me I'm watching what can trigger basically the big money players in the gold and I got into gramlining because I never believed that basically what what Reagan started and we it basically has been expanded ever since Reagan what Reagan did was when he got into office we had a serious recession and he pulled us out of the

recession um basically by injecting money and and he injected basically deficit spendings of you know 200 to 300 billion today that's peanuts right but back then it was a lot of money anything over 100 billion dollar deficit was considered a lot and back then a little bit of deficit spending went a long way but what where Reagan basically changed the dynamic of the economy was that once the economy started growing in 1982 and 83 he didn't put us to take his foot off the pedal he continued the deficit

spinning through his entire eight years and by the time he left office his the national debt had grown um over two and a half trillion during his time so when he got into office and so he he showed and basically Washington basically said hey whoa that works let's keep doing it right uh he showed that deficit spending during times of growth is very beneficial to the economy and you saw that that's what we did from 2009 to 2020 the economy was growing at two percent we were having these huge

deficits 500 to a trillion dollars and that was basically all goes all the way you can basically trace it all the way back to Reagan and that people you know in Washington and on the FED basically and deficit spending works how so me that's the reason why I was like gold because I believe that it's voodoo economics I I call it Insanity economics because what happens is Von mises he had he wrote papers about this back in the 50s and he said that if you create a bubble a false bubble of economic growth

that bubble has to burst if you don't pay back the debt in other words if you use debt to create a bubble you have to pay it back or else that bubble is just floating out their wedding ring to pop and everybody has ignored Von me says he ignored him and he's going to be proven right and so that's the reason I'm in Gold because the debt bubble the everything bubble if you will um at a certain point it creates a problem because the debt doesn't go away he just like right now our debt's 31

trillion dollars our national debts 31 trillion our annual uh interest is over 500 billion okay and everybody's going oh it's all right it's all right we'll just keep printing money well we're getting to the point now where everybody's going uh oh we're getting to that uh-oh moment and when you get to the other moment goal is going to go higher so if you're a believer in Bat I always say that in order to invest in gold you really have to be a believer it's almost a religions

it's kind of like crypto you got to believe because the underlying fundamentals you know it's all based on Theory really you know it's not based on fundamentals it is to a certain extent but it's really based on you know an idea that you know everything you can't print money print money forever and then simultaneous to that you know the one one of the things I look at is what's happening in international trade because the U.S has really dominated International Trade even though we're

not a big exporter but we are a big importer but we got to set the rules of international trade and one of the rules that we've kind of said was you use the dollar or else we're going to get angry at you so we we push people around we've been a bully basically getting countries to use the dollar in their in their International Trade we're also getting on our bad side and you know this is something kind of the unspoken stuff you know has the U.S been a bully and we have been a bully

um if you look at how many coups there's been since like 1900 there's you know the U.S the CIA was involved in and so the US is always trying to push its weight around and and I think that's the reason why the Ukraine War started because the US is basically pushing its way around that's a long conversation but I think it was more economic than anything else and now that is basically I've been backfiring on the U.S and so the U.S is trying to maintain you know that U.S dollar influence globally

and using it for global trade and I think it's kind of reached its Pinnacle and it's going to basically start to decrease over the next two years that's going to harm the U.S economy that's gonna and if it arms the US economy it's going to push gold higher so me it's it's just a waiting game I'm just waiting and I call it a once in a lifetime trade this is not a trade that you do your life for over and over again multiple times this is a one and done thing it's like once gold makes this

next run it's never ever in in my lifetime or I think ever gold has never basically had a breakout well it goes only 35 in 1970. so gold has never had basically a breakout and then stay there every time in 1980 when it broke out to 850 it went to 850 and it crashed right and then in 2011 it went to 1990 something 1992 I think and then crashed that's right so it's never basically had this breakout and and maintained it well that's what's going to happen this time that's why it's a one one and done thing

because Gold's going to go above 2000 and then it's going to go to an all-time high 2080 and then it's going to keep going up and who knows for how long but once I think it's going to go to at least 3 500 and that's going to be quite a run because you're basically in Blue Sky the whole way up you're in Blue Sky to all the way up which has never happened so that's going to interact attract a lot of people and the miners are going to do stunningly well and I think 3500 a lot of people think it's

going to go higher than that so Gold's going to have this epic historical run and again I think it's it's it's kind of a once in a lifetime once in a generation situation here right and so of course the the follow-up question to that is how you're positioning for that once in a lifetime opportunity and gold and I'd love to know what you look at when it comes to the gold and silver stocks what criteria you have what you want to see in these companies yes and so one of the things so I started this uh

doing juniors in 2004 I was doing gold uh mutual funds all the way back in 1991. because I was after the Reagan Era I basically became a gold bug in early 90s um so I didn't wait in a long time but one of the things that I knew that is very cyclical and very volatile and so since it's very volatile and I'm in this for the long run right for the long late in my book I um write about well I use a pyramid approach and the pyramid approach is the base of the pyramid is your low risk so the very

base is physical metal and that's where you should start off and then above that is going to be ETFs mutual funds which are low arrest and then above that is going to be your majors and then above that's going to be your high quality mid tiers so I focus on that getting my base really solid so that if you get a lot of volatility that you can survive it and then once I give my base in then I go for the the more riskier mid tiers and then the very high risk developer and expiration place so right so I've been building my

portfolio for a long time so I have about 150 stocks and right now what I'm looking for is basically if I can find a cheap producer I'm all over that but they're kind of hard to find right now one well sort of one out there my favorite one is Aveeno Aveeno silver is just a silly cheap producer but they're not a lot of cheap producers out there I think personal majestic's another one that's silly cheap but I don't but I own those so I'm not really I'm looking for a new cheap producer and

those are hard for me to find so what what I can find is cheap developers and cheap optionality place and so you know I could go into what I look for he's probably better to read my book but I can give you some some idea of what I look for in in these developers optionality plays is you know for developers you know one thing what I like is I want to accompany that's giving me really strong guidance for to production in other words they have a path to production they believe in that path and they believe they can

pull that path off and any of that company's in a good location the Project's economic you know you know it's not that you I don't have to wait five years for the first poor that you know there's a lot of these details but and then for me you know I'm looking for a development plan I'm looking for a 10 bagger at this at this point um you know seven eight bagger might get my attention but there's a lot of there's so many developer stories out there right now that have been beat up

it's it's incredible um I looked at one recently a new one that I'd not heard of I really get excited when I find a new one that I I don't never heard of but you know looks really really solid it kind of checks all the boxes out and that was ascended resources who recently got a project in Portugal I never bought a Mining stock in Portugal of all things and um you know they're gonna do um I think a feasibility study next year and then the year after that they're gonna they

think they're gonna get permitting done and maybe start construction you know within 24 months maybe less I like those type of stuff stories that have this huge upside they have a really nice path to production very economic and then for your optionality drill stories for me I think it makes a lot more sense on your exploration companies to focus on optionality place in other words and a lot of them are single project optionality it's not you know project generator has 20 companies I really like

the ones that have like one you know one one project they're focusing on his kind of optionality so so let's say the company has you know a million plus ounces of gold you know and they're valued at you know 10 million dollars you know ten so ten dollars an ounce in the ground so I look for these companies that have that are valued at 10 to 20 an ounce in the ground of gold and they have enough gold that it's probably going to be a mine and they're you know if you can buy a gold on the

ground today you know 10 and 20. I think it costs at least fifty dollars to to drill the fine gold and so you your risk reward I remember I talked about earlier did you want the Abbey odds on your side well if you're buying gold in the ground for 10 and 20 then you know the odds are really in your favor you might not always win and then you know too often people are betting on these drill stories and they really don't have the goods yet they don't have any they don't have a deposit they might not even have

a significant Discovery or and they're just gambling and it's like no no the rest you got you want to have the the want to have the odds in your favor so only once in a while now I've learned this after you know almost 20 years doing this is that you don't bet on a drill story until I have a discovery hole one caveat on that for instance is every once in a while I will bet um honest on on a story where they don't have a discovery you know you know sometimes you'll get lucky but I don't

do it that often but uh yeah I was going to throw out a couple other names here but I think I should keep my mouth shut yeah okay okay well that was really good information and again people do want to learn more I'll leave the link to your book in the video description they can check it out I do have a follow-up question on the gold stocks so I think that one thing that can frustrate investors is they see the cold price move like it has been recently maybe the companies in their portfolio don't go up right away along

with it so is there any advice you would give people on that note when it comes to the price and and the stocks living yeah yeah I think this is very important um people there's a most people are risk averse most people don't want to lose money most people want to make money annually well that's really not what gold mining stocks are about gold mining stocks are highly risky and they're about making outsized returns in my opinion and so a lot of people you know them like okay girls moving you know girls are two

thousand dollars I'm gonna go and you know I'm gonna buy some an ETF buy some Juniors and make some easy money in the short term basically um and that's a very risky game in my opinion it might work it probably will work for a lot of people um you know basically I you know call it chasing the Momo chasing the momentum it's like who wants these miners start to move I always say that um you know because of the volatility you should never think in the short term if you're in if you're investing in

mining companies you should really think in terms of basically your exit strategy you know when you buy the stock what you want out of that stock what is the every stock you own should really have an extra strategy and you know maybe some people 50 return might be you know you get to 50 return and you're out but for me I'm more of a 300 plus 500 1000 so my exit strategy is much more long-term I'm not thinking about exiting um this year unless you know we get these some crazy eye prices and I don't

think that's going to happen and so you have to be very patient and the other thing is um so if the gold price goes up and your stock doesn't go up you have to be patient and you have to recognize you know when will it go up is it is the story when you bought the stock has a story changed is there something holding it back what you know what why isn't it moving there might be something there and you might not want to hold it I always say that the only time I sell a stock is if the story changes or if it

if the story changes when I bought it or my answer strategy if it hit you know my exit point but if neither of those happen then I'm just gonna you know hold it um for me if a stock goes down less than 50 percent that's nothing it's it really isn't because if you go down 50 all you need is 100 return to be back even 100 return is nothing in these miners so the only time it's like when you get when you're down more than 50 percent then you have to start thinking about okay

what do I want to do with this stock do I want to write it down to 70 80 or do I want to add to it do I still like the story do I want to add to it if it's that 50 and you still like the story I would wait until it's down 70 before adding that's that's kind of me I'm I really don't add until if I like the story I'll wait 65 70 80 down I still like the story that I'll add more um but it's you got to be patient you got to think think long term um you know for me 2500 gold is nothing

I really think you need to focus on and 50 50 silver is nothing you need to think about 75 to 100 um silver at for your exits and 2500 to 3 000 for your exits so if you're exiting before those levels you're just getting out early but you know some people you know they take the profit and go find something else which you know that can be their strategy that's fine but typical you know because this and this is really speculative investing so if you're doing specular investing you know you really want to get the most out

of it you can and try to get these you know 100 200 300 Returns on these stocks when the run you know when gold goes to 2500 so there's your answer yeah I think that helps us understand your strategy and what you're what you're trying to accomplish here I think that's everything for me but before I let you go is there anything else that you would want to add for investors today yeah just one thought and and that's the bricks we I don't think I brought up the bricks um in this self-fareness in a

conversation um I really feel that um in August of this year the bricks are going to have a meeting that meeting could be historic for gold so I think we need to we need to basically focus on that August meeting to see what the outcome is because I really think the bricks are going to come out with it with a Cons with a currency and uh Zimbabwe this week they just came out with that they're they announced they're going to do a gold back token and it's going to be legal tender so that is kind of an almond that the

bricks will come out with their I think they're going to come out with a token as well basically a digital currency and then that digital token will have a goal backing of some sort and that could push gold up um you know 100 200 dollars because that's going to be a good currency so if it's back five percent by gold that five percent is enough I think to push gold up 100 200 so I'd look towards that um so yeah so in closing I I just want to say anybody that's still around if you want a free

trial to my website just it's goldstockday.com free trial and enter your email and you'll get a free trial okay well thank you so much for coming on to talk about what's going on in the gold market today and I hope people didn't stick around so they could get that access to the free trial we'll have to add him back when we get to our August 10 and we can check in on what's happening with the bricks and with gold I think that'll be really interesting to follow I love them dark three well again

thank you so much for being here today it was really great to talk to you thank you Charlotte thanks for having me on of course and once again I'm Charlotte McLeod with the invest in News Network and this is Don Durant of goldstockdata.com foreign