David Morgan warns the stock market is overvalued and could sell off. “Panic is something that’s a very strong emotion humanly, and once that takes place it’s pretty hard to undo it with quick press of a button.”
David Morgan tells Silver Doctors he is not currently bullish in the short term for gold and silver.
Gold could go sideways or slightly down, Morgan says.
Mining stocks are holding their own pretty well, Morgan says.
Morgan says equity markets are extremely overvalued. And things could turn around rapidly given the right circumstances. If there’s a reason to sell, watch out. “Panic is something that’s a very strong emotion humanly, and once that takes place it’s pretty hard to undo it with a quick press of a button.”
Lastly, Morgan discusses the confirmed information about China’s plans to role out a yuan-denominated oil futures contract. While it has been falsely reported this contract will be gold-backed, Morgan explains it still bypasses the U.S. dollar and is a threat to the petrodollar. This is a “game changer,” he says.
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