In a sign that the Federal Reserve is growing increasingly desperate to jump-start the economy, the Fed's Secondary Market Credit Facility has begun purchasing individual corporate bonds. The Secondary Market Credit Facility was created by Congress as part of a coronavirus stimulus bill to purchase as much as 750 billion dollars of corporate credit. Until last week, the Secondary Market Credit F...Read More
Keith Weiner, Monetary MetalsWe are reading now about possible regulations for air travel. In brief: passengers might be forced to spend hours at the airport. Authorities will perform medical checks, including possibly needles to draw blood, no lounges, no food or drink on board the plane, masks required at all times, and even denied the use of a bathroom except by special permission.We would wa...Read More
Factors affecting metals markets 1. There will be position squaring and rebuilding before the Federal Reserve chairman's testimony before the US senate on 30th June. Powell will testify on coronavirus response. 2. Quarter end position squaring and rebuilding is still going on. 3. Trader's dilemma is to choose between economic progress or second wave of coronavirus. This has res...Read More
By: Ira EpsteinGold's taking over to a new record high for several years!Read More
Chris Temple of The National Investor delves into what sets Omineca Mining and Metals apart. I had been familiar with the story and potential of uber micro-cap (a valuation of little more than C$3 million or so for a LONG time!) Omineca Mining and Metals Ltd.'s (OMM:TSX.V; OMMSF:OTCMKTS) for years. But as gold was beginning to percolate and other necessary ingredients came together as last year g...Read More
Group Ten Metals reported that it has satisfied all earn-in agreements and now owns 100% of the Stillwater West project in Montana. In a news release, Canadian mineral exploration company Group Ten Metals Inc. (PGE:TSX.V; PGEZF:OTCQB; 5D32:FSE) announced that "it has satisfied all earn-in requirements set out in the agreement announced June 27, 2017 (the "Stillwater Agreement") and now has 100% o...Read More
Fund manager Adrian Day assesses recent developments at two junior gold companies, as well as provides a brief update on the gold market. Midland Exploration Inc. (MD:TSX.V, 0.86) has optioned its Casault property to neighboring company Wallbridge Mining Co. Ltd. (WM:TSX), which made a discovery on its property last year. We view this as potentially quite positive, both because Wallbridge is wel...Read More
What do snapping turtles and long-time investors have in common? Sector expert Michael Ballanger explains.The Weekly Missive, which usually arrives over the weekend (sometimes on Friday, sometimes on Sunday) was delayed this weekend for one reason: I had to change it.I started out last week with an idea that was leaning in the direction of full-on capitulation in the sense that this latest, three-...Read More
Wepreviously wrote that while it was tempting to bet on crude oil’s prices due totheir weakness, it was not a good idea from the risk to reward point of view,as black gold didn’t invalidate the breakout above the early-March high. And itwas definitely a good idea not to enter a short position then either – crudeoil moved higher since that time. Atthe moment of writing these words...Read More
Dave Kranzler, Investement Research Dynamic's Mining Stock JournalWhere's the "V?" - Obviously the Fed has injected monetary cocaine into the stock market to make it appear as if stocks are "discounting a "V" economic recovery. But a "V" on Main Street is nowhere to be found (graphic is from Crescat Capital -the comment bubble is my edit):The chart above plots the NY Fed's weekly index of e...Read More
In a sign that the Federal Reserve is growing increasingly desperate to jump-start the economy, the Fed's Secondary Market Credit Facility has begun purchasing individual corporate bonds. The Secondary Market Credit Facility was created by Congress as part of a coronavirus stimulus bill to purchase as much as 750 billion dollars of corporate credit. Until last week, the Secondary Market Credit F...Read More
Keith Weiner, Monetary MetalsWe are reading now about possible regulations for air travel. In brief: passengers might be forced to spend hours at the airport. Authorities will perform medical checks, including possibly needles to draw blood, no lounges, no food or drink on board the plane, masks required at all times, and even denied the use of a bathroom except by special permission.We would wa...Read More
Factors affecting metals markets 1. There will be position squaring and rebuilding before the Federal Reserve chairman's testimony before the US senate on 30th June. Powell will testify on coronavirus response. 2. Quarter end position squaring and rebuilding is still going on. 3. Trader's dilemma is to choose between economic progress or second wave of coronavirus. This has res...Read More
By: Ira EpsteinGold's taking over to a new record high for several years!Read More
Wepreviously wrote that while it was tempting to bet on crude oil’s prices due totheir weakness, it was not a good idea from the risk to reward point of view,as black gold didn’t invalidate the breakout above the early-March high. And itwas definitely a good idea not to enter a short position then either – crudeoil moved higher since that time. Atthe moment of writing these words...Read More
Strengths? The best performing precious metal for the week was silver, up 0.83 percent as hedge funds boost their net long position to a 14-week high. Swiss exports of gold to the U.S. hit another high in May to 126.6 tons. ETFs added 27,739 troy ounces of gold to their holdings on Thursday, marking the sixth straight day of inflows. Bloomberg notes that total gold held by ETFs r...Read More
Although the rally on Wall Street flouts common sense and arguably even sanity, born-again bulls continue to rampage. What will put an end to their foolishness? Surely not more grim economic data, nor an increase in what is already the highest unemployment rate since the Great Depression, nor a wave of business failures that could eventually asphyxiate the consumer economy. None of these problem...Read More
By: Ira EpsteinGold weekly chart shows support at 18-DMA just below $1,700. The market is at an upside bias, right below record highs:Read More
Investment advisor and former Assistant Secretary of Housing Catherine Austin Fitts says the Covid-19 crisis is really more of a so-called "Plandemic." Fitts says, "What we are seeing is a reengineering of the global financial system on the just-do-it method. We saw a lot of smart money get out of the market at the top in January and February. Then, we saw a push to use police powers in the health...Read More
*This interview was recorded on 6/13/20On today's show, Preston and Stig have a conversation with Grant Williams and Luke Gromen about the current global macro situation in the world.Grant Williams is the portfolio manager of the Vulpes Precious Metals Fund and strategy advisor to Vulpes Investment Management in Singapore. Grant has 28 years of experience in finance on the Asian, Australian, Europ...Read More