The world's largest oil producer, Saudi Aramco, set the share price for the company's much-anticipated IPO yesterday at 32 riyals (about US$8.50), which will raise about $25.6 billion in new capital. That would put the value of Saudi Aramco at around US$1.7 trillion and make it the largest IPO ever.The pricing of Saudi Aramco's IPO beats out the previous record holder, Alibaba Group, by a good mar...Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 346,52555,82093,891203,920526,707644,336676,418 Change from Prior Reporting Period 21,2392,16836912,37229,69233,98032,229 Traders 20552745053280158 Small Speculators LongShortOpen Interest 56,68024,598701,016 -2,232-48131,748 non reportable positionsChang...Read More
Gold has been correcting following last summer's powerful bull-breakout upleg. Since peaking, gold has inexorably drifted lower in a well-defined downtrend. Traders are wondering when this necessary and healthy sentiment-rebalancing selloff will bottom, paving the way for gold's next upleg. But this correction still has a ways to run, according to speculators' gold-futures positioning wh...Read More
Jordan Roy-Byrne CMT, MFTAA few weeks ago we noted the bullish setup for 2020.Macro developments, one way or another will tend to favor Gold. There isn't a realistic scenario that isn't Gold bullish.Note the comments from various Fed-heads last week. They are laying the groundwork to target higher than 2% inflation and won't consider raising rates anytime soon.And if they have to resume cutting...Read More
- Gary SavageGold market update: Signs of a similar H1-2019 pattern? Similar pattern emerging to earlier this year with gold now reversing higher with higher lows and higher highs -- we are starting to stair-step up. Banks going to get stuck in another short squeeze? All the poor saps who sold out at the intermediate bottom..December 5th video update.Gary Savagehttp://blog.smartmoney...Read More
Gary TanashianWe all know that the gold and silver Commitments of Traders are very extended and at levels of commercial net shorts and large spec net longs that tend to be in place at tops in the metals. Well, the metals topped in the summer, so what does that tell us?For one thing it tells us that bull market rules are different from bear market rules as per this post from August as gold was to...Read More
Originally published on Sat Nov 30 for members of ElliottWaveTrader.net: I want to take you back a bit in time so you can develop the appropriate perspective of a bottoming process in the metals market. - Avi GilburtFor those of you that were with us back towards the end of 2015, you may remember that I was being quite vocal of the fact that I was heavily buying mining stocks. In fact,...Read More
After today's US November nonfarm payrolls, traders will take positions for next week's FOMC meet. NFP will give hint on next week's FOMC meet. Look into US economy and global economy in totality and not just from interest rate perspective. UK election and December 15 deadline for US-China trade deal will also be under close scrutiny by traders and investors alike. US president Trump and his imp...Read More
Eric Sprott discusses the latest developments in the gold and silver markets. He also addresses some of the recent merger and acquisition news in the mining sector.Eric Sprott has more than 40 years of experience in the investment industry. In 1981, he founded Sprott Securities (now called Cormark Securities Inc.), which today is one of Canada's largest independently owned securities firms. In 200...Read More
The gold-silver company continues to advance the asset. Megastar Development Corp. (MDV:TSX.V) announced in a news release that its preliminary exploration work revealed characteristics of an "significant epithermal system" at its Magdalena project in central Oaxaca, Mexico. Magdalena sits in the middle of the Oaxaca gold-silver polymetallic epithermal belt in the Sierra Madre del Sur. The compan...Read More
Regional geology, mineral showings, historical drill results and magnetic survey results are among the information obtained. Black Tusk Resources Inc. (TUSK:CSE; BTKRF:OTCMKTS; 0NB:FSE) completed compiling preliminary data on the McKenzie East project north of Val d'Or, Quebec, it announced in a news release. The company retrieved the information from various public sources like Mineral Titles-GE...Read More
Incubating and monetizing assets are among the company's strategic objectives. Nexus Gold Corp. (NXS:TSX.V; NXXGF:OTCQB) announced in a news release it entered an agreement to grant Kruger Gold the right to acquire a 75% stake in the Rakounga gold project in Burkina Faso. An exploration permit has been obtained for Rakounga, which spans 250 square kilometers, and Nexus has done some exploration w...Read More
A few weeks ago we noted the bullish setup for 2020. Macro developments, one way or another will tend to favor Gold. There isn’t a realistic scenario that isn’t Gold bullish. Note the comments from various Fed-heads last week. They are laying the groundwork to target higher than 2% inflation and won’t consider raising rates anytime soon. And if they have to resume cutting rates G...Read More
You may think (or hope) that in your daily life you don’t need to worry about unknowingly eating or otherwise ingesting crude oil or any of its many, many petrochemical byproducts. But you would be wrong. And not just a little wrong--very, very wrong. Petroleum-based substances are in all kinds of innocuous-seeming things that we willingly put into our bodies. Even though petrochemicals are...Read More
Gold prices pushed sharply higher on Tuesday but have stalled ever since. Has the recovery rally completed? I think it has.Leave it to Trump to go and say something that causes the equity markets to print a two-day drop that wipes out more than a week of gains. But the tone in the markets might be changing.The US president went from saying that the trade deal might get delayed until after the elec...Read More
I can remember there were times during the PM complex bull market before 2011 that sometimes the PM metals would rally but the PM stocks were very weak. Then there were times when the PM stock would rise while the PM metals moved very little. At the time of those occurrences it was bewildering as common sense suggested they should all move together and the stronger the metals moved so should the P...Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 346,52555,82093,891203,920526,707644,336676,418 Change from Prior Reporting Period 21,2392,16836912,37229,69233,98032,229 Traders 20552745053280158 Small Speculators LongShortOpen Interest 56,68024,598701,016 -2,232-48131,748 non reportable positionsChang...Read More
Gold has been correcting following last summer's powerful bull-breakout upleg. Since peaking, gold has inexorably drifted lower in a well-defined downtrend. Traders are wondering when this necessary and healthy sentiment-rebalancing selloff will bottom, paving the way for gold's next upleg. But this correction still has a ways to run, according to speculators' gold-futures positioning wh...Read More
Jordan Roy-Byrne CMT, MFTAA few weeks ago we noted the bullish setup for 2020.Macro developments, one way or another will tend to favor Gold. There isn't a realistic scenario that isn't Gold bullish.Note the comments from various Fed-heads last week. They are laying the groundwork to target higher than 2% inflation and won't consider raising rates anytime soon.And if they have to resume cutting...Read More
- Gary SavageGold market update: Signs of a similar H1-2019 pattern? Similar pattern emerging to earlier this year with gold now reversing higher with higher lows and higher highs -- we are starting to stair-step up. Banks going to get stuck in another short squeeze? All the poor saps who sold out at the intermediate bottom..December 5th video update.Gary Savagehttp://blog.smartmoney...Read More