It has been a rough year for gold stock investors. Since Gold failed to break to the upside and the US Dollar bottomed, gold stocks have been in a strong downtrend. In September they hit two and a half year lows.The oversold condition since then has been corrected but that rebound has been quite weak. Evidence of that can be seen in the GDX advance decline (A/D) line (an important breadth indicato...Read More
China has developed tremendously in recent years. But what's next? Is the country entering the growth recession? And how it will affect the world and the gold market? A New Chapter in China We have not analyzed the publications of the World Gold Council for a while. Let's make it up, starting with the newest edition of Gold Investor. The report is about China and its remarkable tran...Read More
Today’s upside price move in gold, already up over $18 (+1.5%), sets up a real potential for a move to near $1300 before the end of November. We have been advising our followers that a strong potential for an upside move in the precious metals markets was likely and that a potential move to above $1300 was in the works prior to the end of 2018. Global economic concerns and the fact tha...Read More
The current silver bottoming process isvery similar to that of 2001 to 2003. It took a while for silver to establish abase which set up the bull rally in the following years to 2011.The current bottoming has been longer, butit fits the profile of the early 2000 bottom in many respects. Below, is achart which show the similarity: I have marked the two patterns (1 to 5) toshow how they are similar....Read More
This a technical look at the prospects for the Palladium price. This analysis was first made available to Patrons who support my work. So to get immediate First Access to ALL of my analysis and trend forecasts then do consider becoming a Patron by supporting my work for just $3 per month. https://www.patreon.com/Nadeem_Walayat. Technical AnalysisPalladium is clearly in a very strong bull market th...Read More
Investing.com - Gold prices inched up while the dollar slipped on Thursday following reports that China delivered a written response to U.S. trade demand, and that the two nations resumed talks earlier this week to diffuse their trade disputes.Gold futures for December delivery on the?EUR?Comex?EUR?division of the New York Mercantile?EUR?Exchange inched up 0.1% at?EUR?$1,211.8?EUR?a troy ounce by...Read More
Gold is rolling sideways around $1,210, having rallied off the key rising trendline support yesterday. The metal could rise well above the immediate resistance of $1,212 if the US retail sales miss estimates by a big margin. Gold's sharp recovery from the recent low of $1,196 has neutralized the immediate bearish outlook. Notably, the strong rebound from the trendline connecting the Aug.16 a...Read More
Sibanye-Stillwater (NYSE: SBGL) today announced it has concluded a three-year wage agreement with the National Union of Mineworkers (the NUM), Solidarity and UASA in respect of wages and conditions of service for the period of July 1, 2018 to June 30, 2021.The agreement allows for increases to the basic wage of Category 4-8 surface and underground employees. Miners, artisans and officials will rec...Read More
Trump is going to influence the US monetary policy or even to destroy the Fed’s independence. This is what many analysts say after the recent President’s comments. But are they right? We invite you to read our careful examination of Trump’s remarks about the Fed’s policy and find out what does it imply for the independence of the US central bank and the gold market. Trump...Read More
Gold three-month 25 delta risk reversals (XAU1MRR) flipped to gold puts (bearish bets) for the first time since Oct. 10. It is currently trading at -0.125 in favor of gold puts as opposed to 0.875 in gold calls on Nov. 6. The investor sentiment has clearly turned bearish in the last eight days, adding credence to the drop in the metal's price from $1,236 to $1,200. At press time, the yellow me...Read More
On Thursday, Mr. Draghi held a press conference. But the real thunderbolt hit on Monday, when Ms. Merkel announced that she would step down this year as a leader of her conservative party. Will that lighting make gold shine?Draghi Says That We Shouldn’t WorryLet’s start with the latest ECB’s monetary policy statement and the following Draghi’s press conference. In short, th...Read More
Last month in this space, I penned an essay titled "Are Silver and Gold 'at the Flood'"?. A few weeks later, two other essays on another widely-read site discussed this topic from the same perspective and sourcing – a case of "great minds thinking along similar lines"?Please take time to read or review that Money Metals Exchange Post of August 28.I made the case of a misalignment in the prec...Read More
Premier Gold Mines (TSX: PGM) has signed an option agreement with Ely Gold Royalties (TSXV: ELY; US-OTC: ELYGF) to acquire its Rodeo Creek property, which sits adjacent to Premier's South Arturo open-pit mine, a joint-venture operation in which it owns a 40% stake and Barrick Gold (TSX: ABX; NYSE: ABX) owns 60%.Under the agreement with Ely Gold Royalties, Premier Gold can acquire a 100% stake...Read More
As we have noted over the many years of the gold sector’s bear market, the gold miners will not rally for real until the real sector and macro fundamentals come into place. Those fundamentals do not include commonly promoted inflation, China/India “love” trades, a US dollar collapse or especially, war, pestilence or any other human misery than economic. The more astute gold bugs...Read More
Seven of the top nine silver miners have costs of production higher than the silver price. Here's Steve St. Angelo to explain the implications...by Steve St Angelo of SRSrocco ReportThe Primary Silver Miners lastest results were quite dismal as their All-In Sustaining Costs to produce silver were considerably higher than the market price. Many of the silver miners production costs increased in t...Read More
Huge demand for gold & silver continues as we press on in the middle of November. Here's Harvey with an important update on all of the critical numbers...by Harvey Organ of Harvey Organ BlogNOV 14: GOLD UP $8.15 TO $1209.30/SILVER UP 10 CENTS TO $14.10/BREXIT NEGOTIATIONS BECOME UNDONE AND THIS MAY LEAD TO THERESA MAY'S DEPARTURE/MIKE PENSE ISSUES STERN WARNING TO CHINA TO NEGOTIATE OR ELSE.../GER...Read More
Gold and its miners’stocks have proven rare bastions of strength during recent weeks’ marketcarnage. They are powering considerablyhigher while nearly everything else burns. The markets’ major sentiment shift is accelerating a young gold upleg,which ought to grow much larger as speculators and investors continue returning. Their collective gold positioning remain...Read More
The US$ index is breaking higher. Its trading at 96.41 as we pen this. A daily close above 96.61 marks a new 52-week high and puts the dollar in position to eventually retest its bull market high at 104. If this strength continues then the relief rally in precious metals could be over. So why is that a bullish catalyst for Gold?First, we know that a real bull market is not going to begin until the...Read More
Well, we're riding the rough seas again with the precious metals, but can we find a silver lining? Here's Matt from Silver Fortune to assess the situation...by Matt from Silver Fortune via Silver FortuneAnother period of rough seas for precious metals, but can we find a silver lining? Read More
Only one digit has changed. But it may have profound consequences, sending the country closer to junk status. Meanwhile, Rome and Brussels clash over budget plan. Will that duel benefit or harm the yellow metal?Only One Notch Above Being JunkItalian drama continues. On Friday, Moody’s, one of the most significant rating agencies in the world, downgraded the Italian credit rating from Baa2 to...Read More