Steve St. Angelo from the SRSRoccoReport joins Silver Doctors as gold and silver are selling off. He says geopolitical concerns are dying down, pushing metals down.
If we have a significant stock market selloff, gold and silver could fall further. However, we're much closer to the metals' lows than the stock market's lows, St. Angelo says. Could gold fall as low as $1000? He says it's possible, but highly improbable.
Gold and silver American Eagle sales are down significantly. And sentiment in the metals markets is extremely low. This low sentiment is a signal we're close to a bottom. This low sentiment is coinciding with a high bullish sentiment in the stock market. A reversal is coming, he says.
Steve St. Angelo is an Independent researcher who started to invest in precious metals in 2002. Later on in 2008, he began researching areas of the gold and silver market that, curiously, the majority of the precious metal analyst community have left unexplored. These areas include how energy and the falling EROI - Energy Returned On Invested - stand to impact the mining industry, precious metals, paper assets, and the overall economy. His work can be seen on numerous online publications, but his website, SRSrocco Report, is highly regarded as one of the most invaluable publications of its kind in the sphere of precious metals and the economy.