By: Adam Hamilton, CPA, Zeal Research - 15 March, 2019
The bottom line is the major gold miners are still struggling fundamentally. Their production shrinkage is accelerating, pushing costs proportionally higher. That led to weaker sales and operating cash flows in Q4. And accounting profits cratered into a dark abyss on enormous and suspicious impairment charges by big gold miners involved in mega-mergers. These poor results are retarding GDX’s upside potential.
But smaller mid-tier and junior gold miners with superior fundamentals are bucking this trend to enjoy big stock-price gains. They are still able to grow production off way-smaller bases, boosting their earnings and attracting investment capital. They will continue amplifying gold’s uplegs, multiplying wealth for their contrarian investors. Gold-stock upside potential remains huge outside of the increasingly-problematic majors. Full Story
By: Chris Waltzek, GoldSeek Radio - 15 March, 2019
- ONEGOLD Inc. holds physical gold and silver metals at the Royal Canadian Mint through our friends at APMEX and Sprott. - CEO of APMEX and founder of ONEGOLD Inc., Kenneth Lewis returns to the show with the latest developments on the ONEGOLD digital platform. - APMEX clears $1 billion annually in PMs transactions, which facilitated the transition into the blockchain based gold market. - Investors from 80 countries signed up for ONEGOLD and 29 countries are represented. - ONEGOLD already boasts $2 million under management in merely 3 months. ONEGOLD facilitates virtually any order with the mean order size over $1,500. Full Story
Face it, this monster could veer wildly in either direction right now, and even an Einstein could not confidently predict which. My heart’s desire is to see the S&Ps plunge into the molten pit of hell by summer. The 2313.00 target shown suggests that, at least from a technical standpoint, this is possible. Presumably, the years-overdue collapse would drive out the crooks who have rigged shares while leaving the virtuous, widows and pensioners untouched. Thus cleansed in fire, Wall Street and the banking system would regenerate themselves and return to health; investors would enter a new era where accounting methods are honest, the behavior of stocks reasonably predictable, our economic and political lives guided by plain sense. Full Story
The FAA fell in line with regulators in other countries on Wednesday when it grounded all U.S. flights of the 737 Max. This developing story is not going to blow over any time soon, even if the aircraft manufacturer is able to isolate the source of the problem that has caused two fatal 737 crashes in the last five months. Under the circumstances, the 363.33 low seems unlikely to hold. Full Story
Unlike platinum and palladium, silver has a long history of use as money. Even though silver is no longer minted into coins meant for circulation, it is still sought after by investors in coins and other forms for wealth preservation, inflation protection, and possible future use in barter or trade.
Like platinum, silver looks extremely cheap when measured against palladium. Over the past three years while palladium has tripled in price, platinum has actually lost a few dollars. Silver is essentially unchanged over that period.
Silver is so cheap at under $15.50/oz. that even if it goes on to follow in palladium’s footsteps and triples in value, it will still sit below its former all-time high of $49.50/oz.! Full Story
The Wall Street Journal pitched in with some ray-rah twaddle on the front page: Tech Stocks Bolster Global Markets. You could almost overlook that this is simply a narrowing of market leadership to an extreme, and that the geniuses who get paid to throw Other People’s Money at stocks are merely piling into fewer than a dozen high-profile, huge-cap issues. And not to sound churlish, but ‘tech stocks’ ain’t what they used to be. There was a time when this group might have included companies hard at work building things, producing energy from fusion, canceling gravity — that sort of thing. Instead, today’s list of tech-sector giants is led mainly by glorified advertising agencies and companies that sell stuff on the Internet: Facebook, Google, Tencent Holdings, Amazon, Alibaba and Naspers (a media biggie that is Africa’s largest publicly traded company). Get these stocks going, and investors and the news media could almost forget that the central banks are so fearful of a global recession that they are about to hit the QE panic button.
UK prime minister May has struck a new revised deal term on Brexit. Pound rose. If the deal is passed by the UK parliament, then cable will rise to 1.4000 over the coming months. Most of the bad news on Brexit has been factored in by the markets. Full Story
The short position of the Big 4 traders in gold is down to 25.4 percent of the total open interest in gold...which is a big drop from last week -- and the traders in the Big '5 through 8' category actually increased their short position by a bit during the reporting week. But despite that increase, the short position of the Big 8 traders took a tumble last week, as the are now short 'only' 37.4 percent of the entire open interest in the COMEX futures market in gold.
Under the hood in the Disaggregated COT Report, it was all Managed Money traders, plus a bit more, as they sold 28,314 long contracts -- and they increased their short position by 18,998 contracts as well. It's the sum of those two numbers...47,312 contracts...that represents their change for the reporting week.
The difference between that number -- and the commercial net short position...47,312 minus 45,848 equals 1,464 contracts was made up almost entirely by the traders in the 'Nonreportable'/small trader category, as the 'Other Reportables' barely did anything on a net basis during the reporting week. Full Story
By: Chris Waltzek, GoldSeek Radio - 11 March, 2019
Best selling author and show Mentor, Dr. Stephen Leeb returns with an key insights on the coming precious metals bonanza. - As the world searches for alternatives to the reserve currency to avoid what is sometimes perceived as unfair trade practices. - The price of gold is destined to return to it's former lofty position as king among the 6 chief global currencies. - China has slowly started opting out of of the petrodollar arrangement, as nations line up for Yuan based oil transactions. - The blockchain revolution will facilitate the transition from the outdated fiat currency system dominated by one key player. - The new paradigm will restore individual sovereignty and personal freedoms by crushing antiquated barriers. Full Story
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