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
By Gary TanashianAs in January of 2013 (ahead of an economic up cycle) and Q4 2017-Q1 2018 (ahead of an economic ripple that began in 2018) the Semiconductor sector and in particular its Semi Equipment sub-sector are front and center in forming our analysis about coming events. Excerpted from the January 20th edition of Notes From the Rabbit Hole, NFTRH 535...Semiconductor Sector - Watch the Ear...Read More
By John MauldinDemand Pulled ForwardJob JittersCredit IntensityRushing the ProcessAn Insane Travel ScheduleThe production of souls is more important than the production of tanks.... And therefore I raise my glass to you, writers, the engineers of the human soul.Joseph Stalin, 1932[Our purpose is] to ensure that literature and art fit well into the whole revolutionary machine as a component part,...Read More
Dear Friend of GATA and Gold:Barron's this week has a surprisingly favorable report about the prospects for the gold price and gold miners in light of the recent Newmont-Goldcorp and Barrick-Randgold combinations. But the report repeats without question the worst misinformation about the gold price, quoting a fund manager as saying gold is attractive because "it's an alternative currency whose s...Read More
By Jordan Roy-Byrne CMT, MFTA Last week we discussed the difference between a rally and bull market. Gold stocks have been in a rally. That rally is now over as gold stocks peaked at their 400-day moving averages days ago and sliced through their 200-day moving averages Friday. Take a look at the charts of any gold stock index (GDX, GDXJ, HUI) and it's clear they are in a downtrend. Go b...Read More
By Steve St. AngeloThe U.S. Shale Oil Industry has been a financial trainwreck since day one. And, with nearly $300 billion in public and private debt racked up by the shale industry since its inception, that hasn't stopped investors from throwing good money after bad to continue the biggest energy Ponzi scheme in history.Unfortunately, the worst is still yet to come because the industry hasn...Read More
- "Something wicked this way comes" warns John Mauldin- Shaky China: Chinese landing could be harder than expected- Brexit and EU Breakage: "I have long thought the EU will eventually fall apart"- Helpless Europe: If Germany sneezes, their banks & the rest of continent catches cold- We may see "yellow vests" spread globally: Economics is about to get interesting ...by John Mauldin via Thoughts...Read More
David's new book: Peak Trump: The Undrainable Swamp And The Fantasy Of MAGA.?>>?David Stockman is a former Republican congressman from Michigan and was President Reagan's budget director from 1981 to 1985. After leaving the White House, Stockman became a managing director at Salomon Brothers, and he later founded a private equity fund. David is the founder of David Stockman's Contra Corner, and h...Read More
Peter Schiff is an internationally recognized economist specializing in the foreign equity, currency and gold markets. Mr. Schiff made his name as President and Chief Global Strategist of Euro Pacific Capital. He frequently delivers lectures at major economic and investment conferences, and is quoted often in the print media, including the Wall Street Journal, New York Times, Barron's, BusinessWee...Read More
Lior Ganz believes a major paradigm shift in the global economy is about to take place. De-dollarization and the runaway deficits will lead to higher inflation and higher precious metals prices. One half of the country is living hand to mouth, in spite of record employment. How did that happen? In addition, gold has reached record levels in 72 countries, just not the US. Furthermore, the US Dollar...Read More