By John MauldinPredatory PracticesWar TalkQuality ControlManifest DestinyPuerto Rico, Frankfurt, and Parts Here and ThereAn odd aspect of being a writer is you never know in advance what will excite readers. I've written letters I thought very provocative only to draw mostly yawns.Last week's trade deficit letter lit some fireworks. The response was immediate and, in many cases, quite passionate...Read More
Is this week's 6% market drop the start of the Big One? By Chris MartensonWith the recent plunge in the S&P 500 of over 5%, has the long-anticipated (and long-overdue) market correction finally begun?It's hard to say for certain. But the systemic cracks we've been closely monitoring definitely got an awful lot wider this week.After nearly a decade of endless market boosting, manipulation and r...Read More
The gold and silver futures markets got even more unbalanced last week, with speculators (who are usually wrong at the extremes) going as short as they've ever been and commercials going even more long. Here's the gold data in chart form:These are historically huge imbalances that - if the action in the paper markets still has predictive value - point to a gold short squeeze in which the specula...Read More
By David MorganThe Morgan Report's Weekly Perspective is our free e-newsletter. Our free e-newsletter will keep YOU in the top 3% of the Informed, the Awake, and the Aware.Join our Free weekly e-letter...http://www.themorganreport.com/joinfreelist Read More
By Sumeet ChatterjeeNUSA DUA, Indonesia, Oct 13 (Reuters) - The U.S. Federal Reserve does consider the impact of interest rate hikes on emerging markets when setting policy, but the increases are the "right course of domestic policy" for the world's largest economy, said a top Fed official on Saturday.The comments by Fed Vice Chair Randal Quarles came as some emerging markets face increa...Read More
Oct 13 (Reuters) -For other diaries, please see:Top Economic EventsM/DIARYEmerging Markets Economic Events EMRG/DIARYGovernment Debt AuctionsD/DIARYPolitical and General NewsPOL/DIARYU.S. Federal ReserveFED/DIARYToday in WashingtonWASH/DIARY ----------------------------------------------------------- This Diary is filed daily. ** Indicates new events -----------------------------------------------...Read More
(Bloomberg Opinion) -- The meltdown in stocks this week that saw the S&P 500 tumble 5.28 percent over the course of two days sparked an outpouring of views on how rising interest rates are bursting a bubble that drove equity prices to unrealistically high levels. Most of this so-called logic is hyperbole. Market corrections, as opposed to bear markets, happen all the time and this one is still...Read More
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The Canadian market (i.e., S&P/TSX Composite Index) has declined about 7.5% from its 52-week high. This has made some investors uneasy, and it's as good a time as any for investors to think about how to protect their portfolios.Just about a month ago, when the North American markets were trading near their highs, I discussed buying the underperforming stocks of Franco-Nevada (TSX:FNV)(NYSE:FNV...Read More
It's important to keep in mind that the mining stocks have been sold to levels well-below their intrinsic value - in the case of larger-cap producing miners. Or their "optionality" value - in the case of junior mining companies with projects that have a good chance eventually of converting their deposits into mines. "Optionality" value is based on the idea that junior exploration companies with pr...Read More
By John MauldinPredatory PracticesWar TalkQuality ControlManifest DestinyPuerto Rico, Frankfurt, and Parts Here and ThereAn odd aspect of being a writer is you never know in advance what will excite readers. I've written letters I thought very provocative only to draw mostly yawns.Last week's trade deficit letter lit some fireworks. The response was immediate and, in many cases, quite passionate...Read More
Technical analyst Clive Maund charts silver and discusses the factors that he believes will lead silver upward. Unlike gold and precious metals stocks, silver did not break out strongly on Thursday - although it rose, it did not break out at all, nor was volume exceptional, as we can see on its latest 6-month chart below. However, this is not a cause for concern, because in the early stages of se...Read More
Precious metals expert Michael Ballanger discusses the stock market volatility of the last week and what it may mean for precious metals. When asked about the dominant theme for the markets last January, I said that the one thing I looked forward to was a return of "VOLATILITY" as the Federal Reserve Board moved to "normalize" the interest rate structure, now commonly referred to as quantitative...Read More
The lofty stock marketssuffered a sharp selloff this week that may prove a major inflectionpoint. There was one lone sector thatbucked the heavy selling to surge in the carnage, the gold miners’ stocks. They are the last cheap sector in thesebubble-valued stock markets, long overlooked and neglected. Wildly undervalued today, the gold stockshave great potential to soar dram...Read More
RAPAPORT... Michael Hill's sales fell 9% in the first fiscal quarter asthe retailer underestimated how much marketing it needed for its strategicshift away from discounting, the company said. Group revenue fell to AUD 112.1 million ($79.7 million), the jeweler reported Friday. While the Australia-based retailerbelieves the new approach will strengthen brand loyalty and raise the value ofits produ...Read More
RAPAPORT... Alrosa sold $7.9 million worth of rough at a large-stoneauction in New York, the Russian miner said Friday. More than 90% of the diamonds on offer - each over 10.8carats - found a buyer at the auction from September 17 to October 5, thecompany noted. A total of 1,300 carats, including a 108-carat white diamond anda 98-carat white diamond with yellow shading, fetched a combined average...Read More
RAPAPORT... Three financial institutions have agreed to guarantee a $125million loan to Botswana's diamond-manufacturing industry to strengthen thenation's economic growth.The US government's Overseas PrivateInvestment Corporation (OPIC) has partnered with Botswana Finance - a subsidiary of diamond-manufacturingcompany Lazare Kaplan International (LKI) - and Stanbic Bank to provide the loan....Read More
(IDEX Online) - CIBJO President Gaetano Cavalieri has called for the creation of government monitored chokepoints for the colored gemstone sector, at which it will be possible to verify the integrity of merchandise accessing the chain of distribution, similar to national Kimberley Process Authorities that verify the identity of rough diamonds entering the global pipeline. He was speaking a...Read More
(IDEX Online) - Stornoway Diamond Corporation reported third quarter sales of 184,620 carats represented run-of-mine production recovered between April and June 2018. Gross proceeds were $24.7 million at an average price of US$103 per carat. On a segmented basis, 140,872 carats of +7 DTC sieve size diamonds were sold at an average price of US$130 per carat ($169 per carat), and 43,7...Read More