Whilst it must be frustrating for Precious Metals sector investors to watch Tech stocks continuing to “shoot the moon” while PM stocks have mostly done nothing, the chart presented below suggests that this situation won’t persist for much longer.
The 7-month chart for GDX shows it probably completing the Handle of a sizeable Cup & Handle continuation pattern. GDX has stayed above the support level shown as the Handle of the pattern has formed, which has allowed the earlier overbought condition at the start of the year to unwind and moving averages to catch up. Volume has eased over the past several weeks which is also a positive sign. Full Story
Gold has a rather important decision zone in the 1580.30-1581.70 area. This zone is the high that gold futures (GC) reached on February 3 in a .618 Fibonacci retracement off its low, and it also constitutes a 100% projection of the prior rally swing. Full Story
Gold will outperform the S&P 500 Index in 2020. That’s one of several projections made by CLSA in its just-released “Global Surprises 2020” report.
The Hong Kong investment firm has an impressive track record when it comes to making market predictions—last year it had a 70 percent hit rate—so it may be prudent to take this one seriously.
CLSA’s head of research Shaun Cochran: “If investors are concerned about the role of liquidity in recent equity market strength… gold provides a hedge that could perform across multiple scenarios.” Full Story
So in summary, let's be sure to watch the COMEX palladium VERY closely in the weeks and months ahead. The net positioning of The Banks on COMEX may indeed foreshadow an approaching force majeure or delivery failure in either New York or London. And if the LBMA/COMEX palladium market collapses, will this event lead to a crisis of confidence in the similarly-structured LBMA/COMEX gold and silver markets? We'll see.... Full Story
Global manufacturers are waiting till end February to decide on their outsourcing strategy. If there is supply disruptions from China from March onwards then they will look to India and other Asian nations for their supplies. US economic numbers are not affecting gold price. Trend of all metals and energies on or after 18th February will be the key. China will fully reopen by then. Full Story
By: Stewart Thomson, Graceland Updates - 11 February, 2020
- In America, the government’s debt to GDP ratio is now three times the level it was when Ronald Reagan got elected. Simply put, Donald Trump doesn’t have the wiggle room that “Jellybean Ron” did… to ramp up debt, produce GDP growth with that debt, and then claim all the growth came from tax cuts.
- Poor demographics and global de-dollarization put additional pressure on any attempt to use debt to produce growth today.
- The bad news is that the absolute level of debt is so high that even moderate increases in debt are producing no additional growth. Full Story
Unless the real impact of the corona virus is known, gold will range trade while industrial metals will rise. Volatility will rise from today. Trade very carefully. US economic data releases will have to beat street expectation this week for gold price to move into a short term bearish phase. Full Story
The London Bullion Market Association (LMBA) released its gold price forecasts for 2020 and the consensus is looking for double-digit increases. The average forecast is $1,558.90 an ounce, with the highest at $2,080 and the lowest at $1,300. Analysts are expecting more volatility, as the range between the high and low prices is $780, much bigger than last year’s range of $325. Full Story
Right now, the deep state is at battle stations on all fronts on a world-wide basis, but even they must know that their efforts will be for naught at some point. And when that proverbial pin does arrive...all we'll be able to do is sit back and watch the carnage on our flat-screen TVs.
Like you, I've got my physical precious metals in one hand -- and my precious metal equities in the other...hoping it will be enough.
The 'leaked' report from the DoJ earlier this week regarding the criminal probe against JPMorgan is just more pressure on the bank to settle these spoofing cases. This is Ted's opinion on this state of affairs -- and I have to agree. So far only the traders have been charged, but a criminal charge against the bank itself is a far more serious matter -- and it remains to be see if this threat bears any fruit or not. The stakes can't get any higher than this -- and I'm sure Ted will have something to say about this in his weekly review later today -- and if not then, certainly in his mid-week commentary next Wednesday.
So, with the Big 7 traders still sitting on billions of dollar worth of margin call loses that they haven't been able to cover -- and the DoJ with a gun to JPMogan's head -- and the 'Everything Bubble' looking increasingly vulnerable...I'm still quite content to be "all in". Full Story
Now that you know what is set out above, you should be able to readily appreciate why the price of palladium, and of Tesla stock, have been soaring. Let’s now proceed to look at their extraordinary charts.
Starting with palladium, we see on its long-term 20-year chart that after essentially tracking sideways for many years, the phase of accelerated advance really didn’t begin until mid-2018, and it was only later in 2018 that it broke out above its highs way back in 2001. So the dramatic acceleration in its rate of advance has been going on for 18 months or less. Full Story
Coronavirus impact on supply chains coming? Bigger picture on the gold market: monthly uptrend is bullish, bias is up, momentum is still up. 18 month moving averages is still over the 100 month, another bullish sign.
By: Rick Ackerman, Rick's Picks - 10 February, 2020
My concerns about coronavirus played a role in this recommendation, since the potential of the disease to put the global economy in recession is, in my opinion, being seriously underestimated. Even if I am wrong and the spread of the virus is checked, we won’t know it for probably another month or two. Under the circumstances, the stock market, priced for perfection at these levels, seems like a risky place to be. Bear markets do happen, and they usually seem to come out of nowhere. If one were to kick in now, queering Trump’s sunny re-election odds, the Dow could find itself at 10,000 not long after some rancid flavor of Socialist takes the oath of office on January 20. Full Story
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