By: Chintan Karnani, Insignia Consultants - 17 April, 2020
Focus is on how the world will move once the various nations open up. Gold and silver will break free from the recent range trade and form a new range. No need to worry. I will prefer till next week and then make decide on whether to make a new investment in gold or wait. Full Story
I would like to show you some very long term charts for the PM complex I used to look at the big picture and big reversal patterns. I like to use the quarterly line chart as it takes out much of the noise a quarterly bar chart can make. A quarterly line chart only uses the quarterly close so the symmetry isnít there but the big reversal patterns still show up. Also I will switch back to a bar chart just for confirmation that the pattern Iím seeing is really the right one.
We know that gold has been the strongest area in the PM complex for quite sometime. It began to form its massive H&S consolidation pattern at the beginning of 2013 and finally broke out above the neckline in January of 2019. A line chart also shows reverse symmetry especially on the long term charts. This quarterly line chart for gold, on a quarterly closing basis, is not that far from hitting a new all time high. Full Story
There is little to encourage at this point, since we all understand that social distancing, with its ruinous effect on the economy, could continue indefinitely. So, do Warren Buffett, BlackRock's Laurence Fink, Bezos and other whales dive for cover, dumping their shares in a panic? A better question to ask is: To whom would they sell? Since there are no buyers big enough or dumb enough to take these Leviathans out of their positions, they will simply continue to moderate their offers as short-covering bears drive stocks further into the insanity zone. Full Story
By: Chintan Karnani, Insignia Consultants - 15 April, 2020
Recession and extreme recession are the word and phrase that is getting factored in by the global financial markets. Gold and silver will continue to rise in recession, depression or whichever word/phrase is used to communicate. Sharp correction should be used to invest. Full Story
Investors who think the worst is over had better prepare for the other shoe to drop. Stocks rallied sharply last week, reflecting the egregious miscalculation not only of bulls who have yet to meet a dip they could not buy, but also of bears who evidently fear that the crazed buying binge will continue for no good reason. They should relax, since there has never been an instance where an initial drop of 30% in the stock market did not take at least another six months to bottom. Full Story
By: Chintan Karnani, Insignia Consultants - 14 April, 2020
There is an over $40 price difference between comex gold June futures and spot gold. This reflects gold demand far exceeding gold supplies. Mines are closed or on the verge of getting closed. Full Story
By: Chris Marchese, Chief Mining Analyst at GoldSeek.com - 13 April, 2020
Itís looking the suspension of mining activities have tapered off for the time being, though the mining industry has already been severely impacted. Approximately 500 mining companies have announced the suspension of at least one mining operation. There could be a shift toward countries declaring mining an essential business. This recently happened in Argentina and could very well be the case in other countries which rely heavily on mining for tax revenue. There are some places (countries, states, provinces, etc.), which havenít mandated a shutdown of operations (of have declared mining an essential business) such as West African countries, Australia, Brazil the U.S., etc. and other countries where the mandate is about to expire i.e. Peru (ex-Lima). There are companies which havenít been impacted at all and others which have had the majority of operations shutdown, reinforcing the importance of liquidity and geographic diversity.
The effort by the western Central Banks in conjunction with the bullion banks to keep a lid on the price of gold is failing. Itís not the first time (see The London Gold Pool collapse). This failure is reflected in the historic spread between the spot price of gold as determined twice a day on the LBMA and the Comex gold futures curve. Full Story
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