GoldSeek Radio Nugget - Steve Rocco: Metals Face Short-Term Weakness

Steve Rocco, of the Rocco Report, returns with Video-Charting on all the key market indexes, including Gold, Silver, Crude Oil, Bitcoin and US Stock Bourses.

- Steve updates his forecast on the black-gold market, crude oil.
- Oil is holding above support, that could precipitate if a recession unfolds in 2024.
- The technical outlook suggests bargain prices could be seen.
- On Spot-ETF news, Bitcoin nearly touched $50k this week.
- Will Bitcoin be a buying opportunity and if so, at what price?
- Gold is holding above $2,000 - will this be the year the bulls run to $2,500?
- The cost of production is near $1,650 for gold, $21-$22 for silver; our guest thinks this is key support.
- The technical position of silver is impressive - one deep pocketed investor like E. Musk could send it soaring: Optimus Prime, Tesla, SpaceX, Photovoltaics, Industrial Battery production to name a few projects.
- Once silver closes above $30, the sky could be the limit.
- Global monetary expansion and national debt has soared, while the global population nearly doubled since the last time silver was at $50 - could silver overshoot the target substantially?
- Does the lack of interest in younger generations for gold and silver suggest an asymmetrical risk-to-reward, opportunity?
- When unemployment rate starts to increase, does this metric impact US shares?

Steve Rocco's Report: https://srsroccoreport.com/

Please support the show by subscribing to our Substack with Gold Juniors and Bitcoin Investments:
https://goldseekradio.substack.com/