By: Chris Marchese, Chief Mining Analyst at GoldSeek.com - 19 June, 2020
This past week was a rather wild rate for the mining indices as they traded in a rather wide range. Gold and mining equities will likely break-out or break-down, at least in the near-term [as we could see the summer doldrums]. A breakdown to the $1,650/oz. level would be healthy and build a strong base for the next leg up. However, with everything that is going on the world, gold and silver should already be much higher. Nonetheless, it is only a short-matter so position right, hold tight and block out of the noise of no-nothings who constantly bash gold due to ignorance, not by fact or logic.
By: Adam Hamilton, CPA, Zeal Research - 19 June, 2020
The bottom line is gold-futures speculators haven’t been participating in gold’s strong post-panic upleg so far. These influential traders who often dominate gold’s price action through extreme leverage not only haven’t been buying, they’ve been modest sellers. Their skepticism apparent through their positioning is the reason gold has consolidated high. But their selling is building up their capital firepower for later buying.
As strong investment demand continues pushing gold higher on balance, sooner or later the gold-futures speculators will join in to ride this upleg. Their current lukewarm positioning leaves big room to buy, which will really amplify gold’s coming gains. This gold upleg isn’t in danger of failing until these traders’ bets grow excessively-bullish again. The long buying runway before that is very bullish for gold and gold stocks. Full Story
As the stock market’s broad relief rally lumbers on, drawing the ire of bears that think it should be otherwise, a chorus of dissenting voices is blaming legions of shut-in Millennials and their Robinhood trading accounts for the excess. Maybe that plays a small part.
But here I’ll repeat that the Fed is balls out printing money (really funny munny), manipulating Treasury and Corporate bonds and stating that it will have virtually no limits in this MMT (I would turn around MMT to call it what it actually is, TMM or Total Market Manipulation). They can give it a fancy name like Modern Monetary Theory but by any other name it is chicanery and a scam that society will suffer the fallout from some day. Full Story
Use a buy on sharp dips strategy today in gold and silver for next week. Traders will start taking positions for third quarter. I am bullish on gold and silver in July to September period. Only crashing risk (to gold price) is US June nonfarm payrolls on 3rd July comes in positive. Full Story
By: Chris Marchese, Chief Mining Analyst at GoldSeek.com - 18 June, 2020
Chris Marchese is the chief mining analyst at SilverSeek.com & GoldSeek.com. In this interview, he shares that he foresees a new all-time high silver price within two years. Chris also offers his take on where the gold price is headed and whether we will see doldrums or fireworks in the precious metals sector this summer. He also provides commentary on the junior mining sector and how he arranges his mining portfolio. Full Story
A lot of investors are looking at the stock market and wondering how it could possibly be so high right now. Unemployment is at levels last seen in the Great Depression. The U.S. is facing historic civic unrest and protests. There’s an uncertain national election in 6 months. And a feared second wave of the coronavirus is still on the horizon. All these events are making people rethink their position on precious metals, and our latest visualization can provide a needed long-term perspective on financial history. Full Story
By: Stewart Thomson, Graceland Updates - 17 June, 2020
Gold investors are eager to see the current price reaction end and a fresh uptrend begin. Oscillator buy signals, rising volume, and bullish price patterns are beginning to appear in some gold stocks, and that’s a good sign. Full Story
Goldman Sach’s Jeff Currie says gold prices could rise beyond $2,000 an ounce if the Fed tolerates above-target inflation. “While this is not our base case, we see the tail risk of above-target inflation as a potential driver for gold prices beyond $2,000.” Roth Capital said precious metals and related equities could significantly outperform the market in 2020 and peak in 2022. Bloomberg reports that Roth sees gold rising to as much as $2,200 per ounce and silver to as much as $27.50. Analysts say that the Fed buying debt and inflating its balance sheet, coupled with the government printing money, bodes well for precious metals and their equities. Full Story
By: Dave Kranzler, Mining Stock Journal - 15 June, 2020
I said over 15 years ago that the Fed would eventually print enough money to enable the elitists to sweep every last crumb of the public’s money off the table into their own pockets before allowing the system to collapse. We may be on that final stretch – gradually then suddenly – where we are entering the “suddenly” moment… Full Story
By: Chris Marchese, Chief Mining Analyst at GoldSeek - 15 June, 2020
With the Federal Reserve providing an ideal environment for higher precious metals prices through 0% interest rates, continuation of massive asset purchases, and potentially fixing the yield curve, precious metals prices are poised to take-off in the not too distant future. The gold price continues to consolidate, unable to break resistance, gold and silver prices are still at risk of a correction. It wouldn't be surprising or unhealthy to see gold test the mid-to-low $1,600's but that remains to be seen and therefore a correction in mining stocks. For the week ended June 12th, news-flow continues to be rather subdued as company's focus on ramping up operations, although M&A continues. Stay nimble. Full Story
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