By Steve St. AngeloThere has been a tug of war in the oil price over the past two weeks. Due to a very rare setup in the market, the oil price has traded in a very narrow range as traders fight it out to see who will win control... the BULLS or the BEARS. My bet is on the bet is on the bears. Amazingly, the oil price is literally stuck right between two critical technical levels.Ever sinc...Read More
With the uncertainties of Brexit weighing on Britain and the EU, their respective currencies have been taking a beating. The euro is in a long-term bear market that has seen a drop from $1.60 in 2008 to a low early last year of $1.03. Over that time, sterling has fallen from a surreal peak of $2.11 to a sobering $1.20. Although these trends do not speak well for the economic and political futu...Read More
The beleaguered gold stocks are recovering from their late-summer capitulation, enjoying a solid young upleg as investors gradually return. Their buying has pushed the leading gold-stock ETF near a major triple breakout technically. That event should really boost capital inflows into this sector, accelerating the rally. A major gold and gold-stock buying catalyst is likely imminent too, a mo...Read More
It has been a solid year for precious metals miner North American Palladium (TSX:PDL), which destroyed considerable investor value after a poorly conceived expansion in 2013 that led to a 2015 restructuring to avoid bankruptcy. The miner has gained 12% for the year to date and appears poised to rise further, despite the uncertain outlook surrounding precious metals.The outlook for palladium is po...Read More
Gold has surged in recent days to be up trading at over US$1,235 per ounce, but despite the latest rally, it is still down by almost 3% year to date. There is every sign that the yellow metal could firm further because of growing fears of a global economic slowdown, rising geopolitical risk, and fears of a crisis in emerging markets. Firmer gold has helped to boost the price of gold miners, with t...Read More
The beleaguered gold stocks are recovering from their late-summer capitulation, enjoying a solid young upleg as investors gradually return. Their buying has pushed the leading gold-stock ETF near a major triple breakout technically. That event should really boost capital inflows into this sector, accelerating the rally. A major gold and gold-stock buying catalyst is likely imminent too, a mo...Read More
A couple of my subscribers emailed me expressing frustration over the fact that their recent homebuilder puts are either not moving higher or losing value despite the sell-off in the overall stock market. There's two factors. First, the homebuilder sector has dropped well over 30% since late January. To an extent there may be some seller's fatigue. At some point there will be short term rally that...Read More
A 62-kilogram sample of native gold found at the Beta Hunt Mine in Australia. Source: RNC Minerals Corp.RNC Minerals Corp. [RNX-TSX], aka Royal Nickel Corp., said Monday December 17 that it is raising $9 million to fund exploration and development at its Beta Hunt gold mine in Australia and for general corporate purposes.The company said a syndicate of underwriters have agreed to purchase 13.04 mi...Read More
A 552-carat yellow diamond, the largest ever found in North America, was recovered at the Diavik diamond mine, Northwest Territories, Canada. The mine is owned 40% by Dominion Diamond and 60% by Rio Tinto. Source: Dominion Diamond Corp.The largest diamond ever found in North America has been recovered from a Northwest Territories mine controlled by Dominion Diamond Corp. and Rio Tinto Plc [RIO-NYS...Read More
Share this articleTORONTO - The Ontario Securities Commission says it has reached a tentative settlement with Katanga Mining Ltd. on allegations that the company violated securities rules by not properly disclosing public-sector corruption risks in the Democratic Republic of the Congo.The regulator has accused the company, a subsidiary of Swiss mining giant Glencore Plc, and several members of...Read More
Assumptions are more common than the truth...And that's not commentary on "fake news" or other modern phenomena. It's instead a fact of the human condition.The human brain has an amazing ability to fill in missing information in any given scenario where 100% of the information isn't present. In other words, it can make assumptions. And your brain is pretty good at it, too.One way it uses this skil...Read More
CloseGain/LossGold $1246.30+$8.00Silver$14.67+$0.09XAU69.19+2.37%HUI156.72+2.66%GDM570.75+1.84%JSE Gold1302.25+3.60USD97.14-0.32Euro113.47+0.42Yen88.54+0.31Oil$49.88-$1.3210-Year2.858%-0.035T-Bond143.75+0.46875Dow23592.98-2.11%Nasdaq6753.73-2.27%S&P2545.94-2.08% The Metals: Gold saw slight losses in Asia, but it then climbed steadily higher in London and New York and ende...Read More
By Dave KranzlerA couple of my subscribers emailed me expressing frustration over the fact that their recent homebuilder puts are either not moving higher or losing value despite the sell-off in the overall stock market. There's two factors. First, the homebuilder sector has dropped well over 30% since late January. To an extent there may be some seller's fatigue. At some point there will be sho...Read More
By Clint SiegnerThe Democratic party will be moving back into the control room in the House of Representatives.Congress may commemorate the return to split government with a partial shutdown. The feud over construction of a border wall looks like it will not be resolved in time. It could be the first of many political dramas in 2019.The debate over funding for the wall is theater, make no mistak...Read More
By Frank HolmesStrengthsThe best performing metal this week was palladium, up 1.41 percent, though hedge funds cut their long position to a three-week low. ICBC Standard Bank, however, sees palladium hitting $1,500 an ounce by 2020. Gold traders and analysts were mostly bullish on the yellow metal this week on concerns about a potential U.S. government shutdown and ongoing uncertainty around Bre...Read More
By David HaggithThe Big Bear is back. Ursa Major is in the house of the rising sun, and Taurus is in the house of the setting sun. Those are bad signs for investors who are now daily diving into their horoscopes. The market is pouring out of an inverted Big Dipper, otherwise known as the Big Bear (Ursa Major), and no one (not even the Fed chair) nor any positive event seems able to stop it. I ca...Read More
By Justin SmythAssets that are typically the most inversely correlated to the stock market during bear markets have started exploding higher in the last few weeks. The IEF bond ETF broke out of a Stage 1 base recently. The utilities ETF XLU broke out of a Stage 2 continuation pattern and is making new all-time highs. Gold mining stocks are the sector I'm paying very close attention to right no...Read More
By PlungerUsing Charles Dow's well known method of reading the stock market's movements , on Friday December 14th 2018 , the averages confirmed a bearish indication and can now be classified to be in a bear market. This action Friday is the first occurrence of a valid bear market signal in 11 years. Together the Dow Industrials and Transportation averages triggered a bear market signal followi...Read More
By Larry LaBorde I have invested in palladium from time to time in the past. I just dabbled a bit here and there but the market now just seems crazy. In case you haven't been watching lately palladium has exceeded the price of gold! Palladium (Pd) is a by product of nickel, copper and zinc refining usually. It is mainly used for catalytic converters. It is sometimes alloyed with gold t...Read More
Gold is not only flowing from West to East.It is also flowing into the house account at Goldman Sachs. Or at least the paper claims for it in New York.Below is the monthly report showing the large amounts of physical gold which have been steadily flowing through the Shanghai markets into strong hands in China.Few commentators are talking about this.What is less familiar, and what I have not read...Read More