Tonight I would like to update some commodities charts we haven’t looked at in a while. There have been some subtle changes taking place that need to be addressed. Just like the PM complex that topped out in 2011 many commodities also topped out that same year and have been correcting ever since. With the US dollar at an important inflection point it may be time for commodities in general to...Read More
Gold has pulled back sharply, after reaching a multi-year high of over US$1,550 per ounce in early September 2019, to trade at US$1,475 an ounce. This has tarnished much of the bullish optimism surrounding the outlook for the yellow metal and gold miners.One miner that has been particularly roughly handled by the market is New Gold (TSX:NGD)(NYSE:NGD). It has gained a mere 7% since the start...Read More
A “phase one” trade deal has been reached at the very last minute, giving the markets a full day of trading to adjust to the relaxed tensions between the U.S. and China. For nearly two years, our two largest trade partners have been engaged in a trade war that has weighed on the markets and stalled global growth.With a December 15th deadline that had loomed large over the week now defu...Read More
Many commodity miners have been roughly handled by the market since the start of 2019 because of the U.S. China trade war and fears of a global recession, which have weighed on commodity prices.Diversified Canadian miner Teck Resources (TSX:TECK.B)(NYSE:TECK) has lost 20% since the start of 2019, triggering speculation that it is attractively valued and poised to rebound because of signs that the...Read More
Tonight I would like to update some commodities charts we haven’t looked at in a while. There have been some subtle changes taking place that need to be addressed. Just like the PM complex that topped out in 2011 many commodities also topped out that same year and have been correcting ever since. With the US dollar at an important inflection point it may be time for commodities in general to...Read More
Share this articleThe chairman of Equinox Gold Corp. says the purchase of Leagold Mining Corp. in a friendly all-stock deal makes sense in an industry where "size matters" more than ever before.On a conference call after announcing the deal valued at about $770 million on Monday, Ross Beaty said the merging of two "young, dynamic companies," both based in Vancouver, is a natural."We have real sy...Read More
Share this articleVANCOUVER - Equinox Gold Corp. will acquire Leagold Mining Corp. in a friendly deal that will raise its annual production to about one million ounces of gold starting in 2021.It's offering 0.331 of an Equinox share per Leagold share.Based on Friday's closing stock prices, Equinox's offer is worth $2.70 per share - equal to Leagold's stock price, which gave it a market value of...Read More
Billionaire Eric Sprott is a "long-time gold bull", and claims to hold 90% of his assets (except for Sprott Inc shares) in gold and silver. He advised investors to buy gold before the 2008 financial crash, which proved prescient. The gold price went on to double in three years or nearly triple from the absolute bottom in 2008 to the high in 2011.He invested heavily in Kirkland Lake Gold, holding r...Read More
The gold price bottomed in late 2015 around $1,050 per ounce. It has since advanced to a high of $1,555 in early September, followed by a pullback to the current price of $1,470. Gold is in a well-defined uptrend channel with higher lows and recently higher highs. The breakout above $1,360 this summer was significant and we have seen follow-through buying. The $420 move in the price of gold from...Read More
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