What happens when a geologist and an author whose chief interest is California's Silicon Valley get together to take a look at the United States' dependence on foreign supplies of critical minerals? The result is a long hard look at how our southern neighbour failed to take advantage of its mineral resources. Instead the authors say that the reliance on foreign supply has created a national securi...Read More
A former CEO of the Mining Association of British Columbia has withdrawn from providing a keynote address January 26 to mining students at the University of British Columbia (UBC), after the Alberta Securities Commission implicated his company in a widespread share distribution scandal.This week, Michael McPhie, a prominent voice and advocate for the province's mining sector, told Scott Dunbar, he...Read More
The negative effects of trade disputes on global growth this year will push down demand for base metals and steel-making commodities, while the economic uncertainty will drive gold prices higher, CIBC says."CIBC economists are not forecasting a recession in 2019, but we expect increasing trade barriers and tariffs to slow down global growth over the next 18 months, delaying our previously forecast...Read More
The negative effects of trade disputes on global growth this year will push down demand for base metals and steel-making commodities, while the economic uncertainty will drive gold prices higher, CIBC says."CIBC economists are not forecasting a recession in 2019, but we expect increasing trade barriers and tariffs to slow down global growth over the next 18 months, delaying our previously forecast...Read More
Is gold ready to break down? Risk Warning for Financial Promotions Hantec Markets' various market reports and commentary are issued by Hantec Markets Limited, who is authorised and regulated by the Financial Conduct Authority (FCA) in the UK, No. 502635. The reports are prepared and distributed for information purposes only. Trading in Foreign Exchange (FX), Bullion and Contra...Read More
Prospero Silver (TSXV: PSL; US-OTC: PSRVF) has begun phase two drilling at its Pachuca SE project in Hidalgo State, Mexico, shortly after Fortuna Silver Mines (TSX: FVI; NYSE: FSM) exercised its option to acquire up to 70% of the project in late 2018. Fortuna can earn its interest in Pachuca SE by spending US$8 million on the project, including at least US$1 million in the first year, and completi...Read More
Gold price started a major downside correction from well above the $1,295 level against the US Dollar. The price declined and broke the $1,292 and $1,290 and $1,285 support levels on FXOpen. During the decline, there was a break below a major bullish trend line with support at $1,291 on the hourly chart. Finally, there was a close below the $1,285 support and the 50 hourly simple moving average....Read More
• The risk-on mood/positive US bond yields exert some fresh downward pressure. • A subdued USD price action fails to lend any support or ease the bearish pressure. • Absent relevant economic releases might continue to prompt some technical selling. Gold remained under some selling pressure for the third consecutive session and h...Read More
The gold mining sector is a highly fragmented industry but is now seeing some aggressive consolidation among the large cap names.In a public market that has massive market caps, the gold miners run the risk of becoming irrelevant.Barrick and Newmont/Goldcorp have lit a pathway and many others will follow, whether they want to or not.It might be worth owning some GG shares for the short term, but I...Read More
The 10-week moving average of bearish sentiment just revisited November 2012 territoryWhile the stock market has shown some serious strength in the process of snapping back from the Christmas Eve closing lows, the collective mood among investors and consumers has been somewhat less resilient. On Friday -- as the S&P 500 Index (SPX) was in the process of collecting a second consecutive close back a...Read More
Gold giant Barrick (TSX:ABX)(NYSE:GOLD) said Monday that while it continues to engage with the Zambian government and community stakeholders about a mutually-beneficial way forward for its Lumwana copper mine, it would consider selling the operation given the "challenging conditions" it's facing.Barrick said finding a win-win solution between the industry and government would increase investor con...Read More
Gold is currently trading largely unchanged on the day at $1,282. The yellow metal fell by $12 or 0.8 percent on Friday, confirming a downside break of the two-week long narrowing price range. An extended period of consolidation is often followed by a big move in the direction of the breakout. As a result, gold could soon drop to the support of the trendline connecting the Nov. 13 and Nov. 28 low...Read More
Australian copper junior MOD Resources (LON:MOD) rejected on Monday fellow rival Sandfire Resources' (ASX:SFR) A$88 million ($63m) all-share takeover offer saying it undervalued the firm and its assets.The exploration and development company, which focuses on copper projects in the central and western Kalahari Copper Belt in Botswana, noted it was willing to engage with its suitor if it came back...Read More
Highland Gold Mining Ltd.'s (HGM.LN) 2018 gold production was within guidance despite lower output from its Novoshirokinskoye mine in Russia, the company said Monday as it raised its forecast for the current year. The miner said it produced 269,500 ounces of gold and gold equivalent for the year, down 1% from 2017 production levels of 272,274 ounces. Highland had forecast 2018 gold production in t...Read More
The Gold Trust ETF has a positive but overbought weekly chart and is above my semiannual pivot at $120.36.The commodities ETF has clawed out of bear market territory and now has a positive weekly chart but below its quarterly pivot at $15.60.The long dollar ETF remains above its "reversion to the mean" at $25.01 with its annual pivot at $25.47.Here are the weekly charts for the gold, commodities a...Read More
Investment guru Sam Zell is buying gold for the first time. Zell claims "Supply is shrinking." Please consider Billionaire Sam Zell Buys Gold for First Time in Bet on Tight Supply. Gold’s dimming supply prospects have caught the eye of one billionaire. “For the first time in my life, I bought gold because it is a good hedge,” Sam Zell, the founder of Equity Group...Read More
Jordan Roy-Byrne, Founder of The Daily Gold breaks down the gold and GDX charts. Although this recent bounce is dissipating it has taken the metal up to the higher part of is trend. Unfortunately this trend is still a downtrend but the downside is limited. Jordan shares some key levels to watch.Jordan Roy-Byrne, CMT is a Chartered Market Technician and member of the Market Technicians Association....Read More
Having watched Van Helsing I thought "There must be a way to work this stuff into chart analysis" and there is, for tomorrow night there is a "Super Blood Wolf Moon Eclipse" which might synchronize with a reversal in the markets. Before you burst out laughing, I point out that it is an established fact that reversals in the Precious Metals often synchronize with full and new moons, and whether t...Read More
TECHNICAL SCOOPCharts and commentary by David ChapmanChief Strategist, Enriched Investing Inc.Phone: 416-523-5454 Email: david@davidchapman.comdchapman@enrichedinvesting.comTwitter: @Davcha12January 21, 2019"Sometimes the best investments are the ones you don't make" Donald Trump, 45th U.S. president, real estate mogul, entrepreneur, b. 1946, Trump: How to Get Rich (2004) "The whole problem...Read More