Inflation accelerated again in September, and gold prices (finally!) reacted positively. Bad news: the rally was short-lived.Unfortunately, I was right. One month ago, when commenting on the CPI readings for August, I wrote that inflation “doesn’t have to go away anytime soon” and that the economic developments suggest that “inflation isn’t disappearing just yet.&rdqu...Read More
“Gold going nowhere” seems to be a reasonable description of recent price action in the metals markets.Below is a daily chart of GLD for the past year… The price variation from the mid-point (170) of the price range (160-180) is only about 5 1/2 percent – either up or down.For those expecting bigger things, this might trigger some impatience. It might also be disappointin...Read More
What’s the price level exit for theblack gold?The new front month contract (as weswitched now to Dec’21) for WTI Crude Oil futures closed the week at $82 perbarrel on Friday (Oct. 15th).Fundamentally, nothing seems to be able to stop, in the short term, the surge incrude oil prices which continued to rise on Friday amid concerns over supply,since the WTI hit a new high in almost seven...Read More
Mining stocks were picked up byinvestors in the latest bullish wave. But these bad performers may be dumpedjust as quickly as they were bought.After the HUIIndex rallied back above the neckline of its bearish head &shoulders pattern, a new bull market for mining stocks has finally begun. Or has it? Well, after an identicaldevelopment occurred in 2000, the HUI Index soon invalidated the breakou...Read More
Duncan Wanbladwill take over as Anglo American's chief executive officer when current incumbent Mark Cutifani retires and steps down at the company's annual general meeting on April 19, 2022.Wanblad will also become an executive director of the board at the diversified mining giant. Cutifani, who has been CEO for nine years, will be involved in a transition period, which is expected...Read More
Abig week for precious metals markets as inflation pressures push consumer prices to painful new heights.OnThursday, the U.S. Labor Department reported that inflation at the wholesalelevel is up 8.6% from a year ago. That’s the steepest annual advance since thedata started being reported.Ofcourse, Americans who have shopped at a grocery store recently or tried to rentor buy a car don’t...Read More
Copper makes the headlines, but GYX has been bullish all along; gold awaits its time as the message from metals land is bullish, risk ‘on’ and cyclicalWhile copper went through its correction we have been noting each week in NFTRH that the Industrial Metals index, GYX had never aborted its bullish stance. Trends remained up and the index price held the SMA 50’s intermediate trend...Read More
The battered goldstocks are bouncing hard, blasting higher over the past couple weeks! That’s despite the Fed still looking to soonstart slowing the pace of its epic money printing. Fed-tightening fears had weighted heavily onthe precious-metals realm since June. Gold stocks’ sharp rally confirms they have started mean reverting muchhigher after withering capitulation...Read More
Strong words, I know. Can I back them up? Well,what we see now – looking at various markets – does indeed look like the startof gold’s end– The Oracle in Matrix Revolutions, 2003The counter-trend rally has probably justended, and the final big downswing has probably just started. This “beginning”of the final downswing is, in my opinion, the beginning of the fina...Read More
As precious metals traders have waited out this extended sideways/downward price contraction in price over the past 14+ months, a very broad Pennant/Flag price formation is nearing an APEX level which suggests Gold may begin a new rally phase over the next 60+ days. Support near $1675 is a critical price level that has been tested three times over the past 8 months. The true APEX of the Pennant/Fl...Read More
An understanding of the relationship between between the gold price and inflation requires historical observation and factual understanding. Below are three specific statements that are rooted in historical fact…1) GOLD IS REAL MONEYLots of things have been used as money during five thousand years of recorded history. Only gold has stood the test of time. It has earned its...Read More
Zinc's three-month price on the London Metal Exchange on Wednesday November 3 touched its lowest since October 13, with prices in the base metals complex ending the day on a mixed note ahead of the US Federal Reserve Bank's Federal Open Market Committee press conference.Zinc reached $3,263 per tonne on Wednesday, its lowest price since announcements by Nyrstar and Glencore that production in Europ...Read More
Iron ore prices went up on Wednesday November 3 with support from the demand in low-grade fines, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $100.10 per tonne, up by $4.33 per tonne62% Fe low-alumina fines, cfr Qingdao: $101.70 per tonne, up by $5.03 per tonne58% Fe fines high-grade premium, cfr Qingdao: $76.15 per tonne, up by $8.45 per tonne65% Fe Brazil-origin...Read More
Seaborne coking coal prices across the board in both cfr and fob markets were relatively flat on Wednesday November 3.Fastmarkets indices Premium hard coking coal, cfr Jingtang: $600.88 per tonne, up $0.63 per tonne Hard coking coal, cfr Jingtang: $525.23 per tonne, unchanged Premium hard coking coal, fob DBCT: $403.57 per tonne, unchanged Hard coking coal, fob DBCT: $339.59 per tonne, unchang...Read More
Fed Head Jerome Powell and the Zoom Square All-Stars perform in their latest post-FOMC press conference at 2:30 p.m. EST. Watch it here!(by Half Dollar) The most important Fed meeting, ever, yet again, has just taken place.Ugh.Among other financial evil, the Fed has kept interest rates at full-on assault-mode against American Savers, and the Fed is also announcing its so-called "taper".Here's the...Read More
Two-time Vale president Eliezer Batista diesLeadershipLook beyond market approach to project valuations: van ZylLeadershipPolarX finds extra copper potential in AlaskaSPONSOREDpolarxNew life for one of New Zealand's oldest gold minesSPONSOREDoceanagoldThe majority of holes released were from the Saddle Zone between the existing Main Pit and planned West Pit locations, which currently has no re...Read More
PolarX finds extra copper potential in AlaskaSPONSOREDpolarxNew life for one of New Zealand's oldest gold minesSPONSOREDoceanagoldAzure eyes province potential ahead of Andover resourceSPONSOREDazure mineralsAmerican Pacific building US copper positionSPONSOREDamerican pacific miningForrest met with world leaders including US president Joe Biden, US special presidential envoy for climate John...Read More
Highlights included 231.3m grading 1.22 grams per tonne including 2.1m grading 44g/t.Read More
Look beyond market approach to project valuations: van ZylLeadershipNew life for one of New Zealand's oldest gold minesSPONSOREDoceanagoldPolarX finds extra copper potential in AlaskaSPONSOREDpolarxAzure eyes province potential ahead of Andover resourceSPONSOREDazure mineralsIts US$120 billion in purchases, announced in December 2020, would be reduced by $15 billion this month, chairman Jerome...Read More
Barrick struck agreements with Red Lake Gold and Dixie Gold which have respective land positions to the west and north of Great Bear's Dixie.Read More