The market today is perhaps the most delusional it has ever been.There is a mix of new traders on free brokerage sites like Robinhood, who are working from home and got a $1,200 check. You mix this with Twitter pump and dumps and you get what happened the past two days.Chesapeake Energy launched from $13 to $69.Today it declared bankruptcy. The stock is halted, but it was down 50% in premarket tra...Read More
By: Hubert MoolmanThe US Dollar index is not a true measure of value of the US dollar. It just tracks an "exchange rate" between the US dollar and a basket of significant fiat currencies.For a true measure of value of the US dollar it is better to look to Gold and Silver. However, there is a relationship between significant Gold rallies and the US Dollar index.Gold has a tendency to rally at a c...Read More
Steve St. Angelo, SRSrocco Report If Americans thought the U.S. Government would be in serious trouble as its ability to service its ballooning debt would become unmanageable, guess again. After the U.S. Government added nearly $3 trillion more debt in just the past eight months (fiscal year), the interest paid on the public debt actually declined versus last year. According to TreasuryDirec...Read More
By Clive MaundThe 6-month chart for GDX shows it completing what looks like a Head-and-Shoulders top at a quite a high level, and with this morning's drop it could soon break down from the pattern leading to a potentially steep drop.On the 13-month chart for GDX we can see that there is plenty of room for it to drop, and the minimum objective in the event of it breaking below nearby support is...Read More
By Avi GilburtRarely do you enter a market environment when the fear is as palpable as it was in the middle of March of this year. The world was coming to an end based upon most of what I was reading. And, as we were approaching the market lows (and even all throughout the 45%+ rally we just experienced), many continued to call for further crashes with many targets being noted at 1800, 1600, and...Read More
Strengths? The best performing precious metal for the week was palladium, up 0.77 percent. ETFs added 241,076 troy ounces of gold to their holdings on Monday, bringing net purchases for the year to 17.2 million ounces, according to Bloomberg data. Total gold held by ETFs rose 21 percent this year to 100.2 million ounces - the highest level since June 2019. However, on Thursday th...Read More
By: Ira EpsteinGold needs to get above $1729 to swing the trend, the August gold contract. Supports around $1688 then towards $1,660s:Read More
There will be short covering in gold if it rises today and till Thursday. In my view, most people are waiting to buy gold @1650. If gold prices manages to trade over $1700 till Thursday, then laggards will start to invest and gold price could be easily break past $1800. Bond yields, stocks and commodities can all rise at the same time. Free money supply is the key reason. Positive economic growt...Read More
Money manager Adrian Day reviews the prospects of two of his favorite resource companies and comments briefly on the pullback in gold prices. Following the strong rally in gold and gold stocks since the March low, we expect a pullback over coming weeks. It is already underway. We do not expect it to be particularly long or deep, and will present opportunities to buy. For now, however, patience is...Read More
Millrock Resources CEO Gregory Beischer speaks with Maurice Jackson of Proven and Probable about his company's drill program in the shadow of the Pogo gold mine. Maurice Jackson: Welcome to Proven and Probable. Joining us for a conversation is Gregory Beischer of Millrock Resources Inc. (MRO:TSX.V; MLRKF:OTCQB). Gregory for someone new to Millrock Resources, please introduce the opportunity the c...Read More
The silver price has managed to recover from the Corona crash of 2020 with the price back within it's trading range of $17 to $20. Though contrary to the Silver bugs perma expectations for the Silver price to track the Gold price higher, that's not what usually tends to happen as the below graph illustrates,, which if you have followed my previous Silver analysis articles than you would know this...Read More
By: Hubert MoolmanThe US Dollar index is not a true measure of value of the US dollar. It just tracks an "exchange rate" between the US dollar and a basket of significant fiat currencies.For a true measure of value of the US dollar it is better to look to Gold and Silver. However, there is a relationship between significant Gold rallies and the US Dollar index.Gold has a tendency to rally at a c...Read More
Steve St. Angelo, SRSrocco Report If Americans thought the U.S. Government would be in serious trouble as its ability to service its ballooning debt would become unmanageable, guess again. After the U.S. Government added nearly $3 trillion more debt in just the past eight months (fiscal year), the interest paid on the public debt actually declined versus last year. According to TreasuryDirec...Read More
By Clive MaundThe 6-month chart for GDX shows it completing what looks like a Head-and-Shoulders top at a quite a high level, and with this morning's drop it could soon break down from the pattern leading to a potentially steep drop.On the 13-month chart for GDX we can see that there is plenty of room for it to drop, and the minimum objective in the event of it breaking below nearby support is...Read More
By Avi GilburtRarely do you enter a market environment when the fear is as palpable as it was in the middle of March of this year. The world was coming to an end based upon most of what I was reading. And, as we were approaching the market lows (and even all throughout the 45%+ rally we just experienced), many continued to call for further crashes with many targets being noted at 1800, 1600, and...Read More
Strengths? The best performing precious metal for the week was palladium, up 0.77 percent. ETFs added 241,076 troy ounces of gold to their holdings on Monday, bringing net purchases for the year to 17.2 million ounces, according to Bloomberg data. Total gold held by ETFs rose 21 percent this year to 100.2 million ounces - the highest level since June 2019. However, on Thursday th...Read More
By: Ira EpsteinGold needs to get above $1729 to swing the trend, the August gold contract. Supports around $1688 then towards $1,660s:Read More
There will be short covering in gold if it rises today and till Thursday. In my view, most people are waiting to buy gold @1650. If gold prices manages to trade over $1700 till Thursday, then laggards will start to invest and gold price could be easily break past $1800. Bond yields, stocks and commodities can all rise at the same time. Free money supply is the key reason. Positive economic growt...Read More
Pinos Altos mine Credit: Agnico EagleOTTAWA - Miners Agnico Eagle Mines and Cameco are this year's recipients of the Mining Association of Canada's (MAC) Towards Sustainable Mining (TSM) Excellence Awards, which recognize innovative sustainability projects focused on community engagement and the environment.The TSM encourages mining companies to meet the demand for minerals, metals and energy prod...Read More