In recent days Gold has been more oversold than the gold stocks. Entering this week, the gold stocks were fresh off a major technical breakdown. An upside or downside break can lead to a market stretching beyond what typically qualifies as overbought or oversold. After Monday’s selloff, the gold stocks are hitting oversold levels but… Read More
Gold can’t seem to catch a break. The yellow metal normally acts as a safe haven in times of political and economic strife, but in the face of Turkey’s lira meltdown, investors have taken cover instead in the U.S. dollar. On Monday, the stronger greenback pushed gold to end below $1,200 an ounce for the… Read More
(Bloomberg) — Billionaire hedge-fund manager Ray Dalio maintained his holdings in the two biggest gold-backed ETFs even as an investor exodus sent prices of the metal tumbling. As of June 30, Dalio’s Bridgewater Associates maintained its 3.9 million shares in SPDR Gold Shares, the largest exchange-traded funds backed by bullion, and 11.3 million in iShares… Read More
JOHANNESBURG, Aug 14 (Reuters) – South Africa mines minister said on Tuesday he was concerned by bullion miner Gold Fields’ plan to cut around 1,100 jobs without due regard to processes outlined in the Mineral and Petroleum Resources Development Act. Mineral Resources Minister Gwede Mantashe said some companies were not meaningfully engaging with the department… Read More
Financial and precious metals expert Egon von Greyerz is sounding the alarm about record breaking global risk and warns, “With this risk, people have to take insurance. This business is not a business, it is a passion, and I have a passion to help the few people that see the risks… I think your best… Read More
Canadian gold exploration and development company Columbus Gold (TSX:CGT) plans to buy up to a 70% interest in IAMGOLD’s (TSX:IMG) the Maripa project, located in French Guiana. The project is made up of five contiguous exploration permits and has a historic gold production of around 40,000 ounces of gold, mined between 1985 and 1996. “With… Read More
Miles Franklin sponsored this article by Gary Christenson. The opinions are his. You have a headache. Treat with Advil. Well… maybe. The headache is the symptom. The cause might be tight neck muscles, brain tumor or something else. Advil relieves pain and diminishes inflammation, but it won’t fix a brain tumor and will do little… Read More
South African miner Gold Fields (NYSE, JSE:GFI) plans to cut about 1,560 employees and contractors at its massive South Deep mine, as it tries to save the struggling operation, which has the potential to produce for the next 70 years. South Deep, Gold Field’s only mine left in South Africa, was built to target the world’s… Read More
In recent days Gold has been more oversold than the gold stocks. Entering this week, the gold stocks were fresh off a major technical breakdown. An upside or downside break can lead to a market stretching beyond what typically qualifies as overbought or oversold. After Monday’s selloff, the gold stocks are hitting oversold levels but… Read More
Shares in Barrick Gold Corporation (NYSE:ABX)(TSX:ABX) clawed back some of its earlier losses in after hours trade on Monday after the company and its JV partner NovaGold Resources’ (TSX, NYSE-MKT: NG) announced final federal permits for its massive Donlin project. Barrick said the US Army Corps of Engineers and Bureau of Land Management issued a… Read More
Courtesy of: Visual Capitalist Canada is a mining nation. From the Rockies to the Canadian Shield, and from the Plains and to the North, the variety of geology that exists in the country is immense – and this has created a large and unique opportunity for ground-breaking mineral discoveries. As a result, Canada is… Read More
(Bloomberg) — Gold may be trading at its lowest in 18 months in dollar terms but look at the precious metal in other currencies and you can see it’s still serving its role as a safe-haven asset. Take Turkey, one of the world’s largest buyers of the precious metal and home to the ancient kingdom… Read More
Gold fell to fresh 18-month lows on Monday as the attractiveness of the hard asset continues to wane on the back of rising interest rates in the US and a strengthening dollar. December futures trading in New York declined 1.5% to $1,201 a troy ounce, the lowest since February last year and now down more… Read More
Elon Musk is no stranger to making controversial and outlandish comments, and his tweet last week is no exception. As you probably know by now, the perennial entrepreneur announced to his more than 22 million Twitter followers that he is “considering taking Tesla private at $420.” Despite the Herculean challenge—such a move would be the… Read More
Written by Chris Marcus for the Miles Franklin blog. With the current gold to silver ratio at approximately 79 to 1 (meaning that for an ounce of gold, you could trade it for about 79 ounces of silver), many are wondering if the ratio will revert back to the often-cited 15 or 16:1. Which would… Read More
Source: milesfranklin.com
Shares in Canada’s First Majestic Silver (NYSE:AG) (TSX:FR) dropped more than 10% in New York and Toronto on Monday after it posted a second-quarter loss of $40 million, compared to a profit in the same period a year earlier. The Mexico-focused miner said it had a loss of 22 cents on a per-share basis. Adjusted for one-time… Read More
GOLD PRICES broke through $1200 per troy ounce, an 18-month low at Monday lunch time amid Turkish crisis pushing the dollar to a 13-month high and ripping through emerging markets currencies as Recep Tayyip Erdogan, Turkey’s president hit out at the US, writes Atsuko Whitehose at BullionVault. Dollar index (DXY), measuring the value of the Dollar against… Read More
In the aftermath of the 2008 Financial Crisis, the private Federal Reserve bank cartel was front and center as a target for public outrage. Former U.S. Congressman Ron Paul’s “End the Fed” message suddenly resonated. Americans hated Fed officials bailing out the banksters – richly rewarding them for crooked and irresponsible behavior which helped create… Read More
Known as the gold capital of Uruguay, the northeastern town of Minas de Corrales held an urgent community meeting this week with the ministers of Employment and Industry to analyze what can be done to support the hundreds of workers currently on employment insurance due to Orosur Mining’s (TSX, AIM: OMI) decision to slow down… Read More