So, I am going to let you in on a little secret at this time. If you want to know what is going to happen in the metals complex, it is not the central banks buying you want to watch. Right now, I would be watching Newmont Mining (NYSE:NEM) very closely. As long as it remains below 34.29, it still has potential to strike lower lows below those seen in 2018. However, should you see it break out over that level, it will confirm for me that a bottom has been struck, and we are on the verge of a strong rally about to take hold in the complex. Full Story
By: Ross Norman, Sharps Pixley - 21 February, 2019
Gold’s relative strength indicator is at the 73, highest since September 2011 - the month that gold hit an all-time high.
This may suggest that gold is technically “overbought” just now, but it is also at a level we saw regularly back in the early 2000’s when gold was starting a bull run with a 16% year on year increase, well before the Global Financial Crisis.
There have been a few signals that echo the early stages of that bull run - including the stealth rally in gold in non-dollar currencies, but perhaps most encouragingly is news that central bank gold buying is at the highest since 1967. Full Story
By: Rick Ackerman, Rick's Picks - 21 February, 2019
AAPL, not long ago the one true love of fund managers, has been a conspicuous laggard since the broad averages trampolined off December’s lows. It is only in retrospect that we can see how they might have contrived, albeit with only modest success, to ignore the stock’s big problem, which is that the company’s ridiculously overpriced phones are poorly positioned to compete against increasingly aggressive Asian manufacturers. Full Story
Below is the weekly chart for the GDXJ which shows all systems go.
I will be out of the office this afternoon and probably won’t make it back before the close. It’s been a long time coming so enjoy this day as there will be many more to come. It’s just getting started. Full Story
I am not concerned over the rise in gold prices. I was bullish on gold, I am bullish on gold and I will remain bullish on gold. There will be corrections in gold prices. It will not be a one way traffic. Full Story
China, the number one consumer of gold, added to its gold reserves for the second month in a row after a two-year dry spell. The People’s Bank of China increased its holdings to 59.94 million ounces in January, up from 59.56 in December. Russia’s gold output in 2018 rose 2.5 percent year-over-year to 314.42 tons, while silver production grew 7.2 percent to 1,119.95 tons. Russia is also taking steps to make gold investing accessible to more peo
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