Gold prices and gold stocks have been on a parabolic rise, with the metal hitting record highs almost every day. I expect the long-term bull market in precious metals to continue, because commodities represent one of the best investments in a weak U.S. dollar environment.And one of the best ways for aggressive traders to leverage this could be with penny stocks. Now, the stocks on this list...Read More
Inmet Mining Corporation (TSX:IMN) (Inmet) announced today that its wholly-owned subsidiary Minera Panama, S.A. (MPSA) has received a letter from His Excellency, the Minister of Industry and Commerce, Roberto Henriquez, that clarifies the Government of Panama's position on the recent repeal of Law 8 of 2011, making it clear that such repeal will not impact the development of mining projects in Pan...Read More
Add Angola to your Australian REE explorer watch list. An Australian juniorexplorer, Black Fire Minerals (ASX:BFE) has taken an option over the LongonjoREE project in central Angola. The company would, if the deal goes through, own70 per cent of the 3600 square kilometre project.Previous exploration has identified an REE anomaly with assays peaking at1.68 per cent lanthanum, 3.04 per cent cerium a...Read More
Newmont Goldcorp, (NEM - Get Report) the world's biggest gold miner, said a 24-day blockade at its Pe??asquito mine in Mexico's northern Zacatecas state ended Tuesday, but operations at the mine remain suspended. The company is ensuring the blockade doesn't resume before it opens the mine. It said it's working with the federal and state governments for a long-term solution. "The lifting of the...Read More
"What happened to me could happen to anybody," John Felderhof, a former geologist and senior vice-president at Bre-X Minerals, told a small group gathered in a seminar room at the recent Prospectors and Developers Association of Canada convention."Do I know what happened at Busang? My answer is no. Do I believe there is commercial gold there? Yes I do. Did Michael de Guzman commit suicide? Most l...Read More
Contrarians weren't surprised by the huge air pocket that gold encountered on Monday. Furthermore, they believe that, even in the wake of that air pocket, gold's near-term direction continues to be down. On both counts, the culprit is the exuberance that short-term gold timers began exhibiting in recent sessions. And, as contrarians like to remind us, that's not the kind of sentiment foundation...Read More
Federal Reserve officials are worried about President Donald Trump's trade war with China. Industry groups representing the likes of ConocoPhillips (COP) and Macy's Inc. (M) are worried. Investors are worried too. So what does Trump want by charging down this warpath? Economists from at least one global investment bank, Barclays Plc (BCS) , are now willing to say: They haven't the foggiest...Read More
- The following is the full text of an open letter from John Felderhof, former vice-president of exploration with Bre-X Minerals, after his acquittal on four charges of illegal insider trading and four charges of misleading disclosure under the Ontario Securities Act. The charges stemmed from the multibillion-dollar salting fraud perpetrated on core samples taken from Bre-X's Busang gold property...Read More
The former vice-president of exploration at Bre-X Minerals, John Felderhof, has been acquitted of four charges of insider trading and four of misleading disclosure in connection with the 1997 Busang salting fraud in East Kalimantan, Indonesia.The Ontario Securities Commission (OSC) had brought the charges against Felderhof, alleging that he made $84 million in sales of Bre-X stock while in possess...Read More
It's all systems go for gold investors. The bullion market is stirring from a multiyear slumber and looks set to enter a sustained rally, experts say. Double-digit increases within the next 18 months may be only the start of the price surge. "[W]e believe there is a very good chance that this marks the beginning of a new gold bull market," says gold market veteran Joe Foster, portfolio manager f...Read More
Gold investors should love presidential hopeful Elizabeth Warren. Her plan to lower the value of the dollar will likely cause inflation, capital flight, and a currency war -- any of which have the potential to boost gold prices. And if all happen together, then bullion will do even better. If Warren eventually gets elected to the White House and then enacts that policy, investors should consid...Read More
The gold bugs have still not thrown in the towel, despite bullion being a disappointing performer for a couple of months now. And that's not a good sign from a contrarian point of view. To review: From a mid-February high of $1,354, spot gold fell last week to as low as $1,272 -- a 6% drop in less than three months' time. Despite this sizeable decline, the short-term gold timers I monitor are, o...Read More
Well, look who's back in town. John Bernard Felderhof, former vice-chairman of Bre-X Minerals, was spotted in Toronto in mid-March, accompanied by his lawyer, Joseph Groia. The pair were walking into the Ontario Securities Commission's offices to take in oft-delayed proceedings relating to allegations Felderhof violated Ontario's securities law eight times.A Canadian citizen, Felderhof has discree...Read More
Forget about predicting what will happen in a stock market downturn. Short-seller Chris Irons, founder of Quoth the Raven Research, said it's time to consider shorting the whole American economic and free market system. For Irons, gold is the best bet for long-term. "If you don't want to take it from me, take it from the central government," Irons said at a Kase Learning short-selling event in N...Read More
U.S. stocks have endured some "interesting" trading over the last couple of quarters. The broad market sold off hard in the final three months of 2018, only to rally just about as hard in the first three months of 2019. But not all asset classes have had such an abrupt regime change. Take gold, for instance. While the S&P 500 zig-zagged hard during the past two quarters, ending up about 0.72% lo...Read More
They're back! Investors piled billions of dollars into specialized commodities funds in the first quarter after going cold on the sector last year, according to new data. Such funds include the SPDR Gold Shares (GLD - Get Report) ETF, which owns bars of solid bullion, as well as many others including the United States Oil (USO - Get Report) which tracks the price of crude oil. The sudden switch...Read More
As the threat of a trade war with China cast a shadow over Wall Street early Wednesday, April 4, the price of gold, which is considered a safe-haven asset, jumped. In morning trading Wednesday, gold futures for June delivery gained 0.72% to $1,346.90 per troy ounce. At the same time, the SPDR Gold Shares ETF (GLD) rose 0.77% to $127.27. The spike in gold prices Wednesday morning came in conjun...Read More
Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average closed higher Monday despite a big decline in Boeing (BA) shares after the deadly crash of a 737 MAX 8 jet over the weekend. Nvidia (NVDA) will buy Israel's Mellanox Technologies (MLNX) for around $7 billion, outbidding chipmaking rival Intel (INTC) for the cloud computing semiconductor specialist....Read More
Geopolitical uncertainty is helping to support gold prices, but an impending rate hike in less than two weeks could finally take its toll on the market, with some analysts expecting gold prices to test support below $1,300 an ounce in the near-term. The gold market closed its second week in relatively neutral territory, within a narrowing trading range. April gold futures last traded at $1,329 a...Read More
Good Morning Rewind Friends! You're no doubt feeling a little more exhausted than usual this morning. That's because we're all springing forward with daylight savings time. Did you know that the biannual tradition celebrates 100 years, this year? Daylight Savings Time, What You Need to Know Established in the U.S. in 1918Established to save energy, but time-skeptics say that is no longer...Read More