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Podcast: Friday Comes Early For Gold Bugs As GDX Hits New High After Negative Oil Price Drop (Special Guest David Skarica) – Mike Swanson (04/24/2020)

In this podcast I talked with David Skarica of

Friday has come early this week for gold bugs as gold jumped up this morning again following the drop in oil this week that took futures for WTI to the negative in a move never seen before. This is a sign of deflation, but deflation is not causing gold to drop, but instead is helping it to go up. Mining companies are now going to see their costs go down while their revenue goes up thanks to rising metals prices. This is helping the mining stocks and GDX ETF. However, JNUG is an ETF malfunctioning now along with the USO oil ETF.

David Skarica has been on top of these trends and today has been a day for gold traders to indeed celebrate. I suspect more days like this are to come.

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