The beleaguered gold stocks are recovering from their late-summer capitulation, enjoying a solid young upleg as investors gradually return. Their buying has pushed the leading gold-stock ETF near a major triple breakout technically. That event should really boost capital inflows into this sector, accelerating the rally. A major gold and gold-stock buying catalyst is likely… Read More
Wheaton Precious Metals’ (TSE: WPM) shares surged over 14% Friday, following the company’s announcement that it had a reached settlement with the Canada Revenue Agency (CRA). The settlement provides for a final resolution of Wheaton’s tax appeal in connection with the reassessment under transfer pricing rules for 2005 to 2010. Wheaton Precious Metals is one of… Read More
If we want to know where Gold is going we should follow Gold. Right? How about following gold stocks? At times, they lead Gold. What about the US Dollar? Wrong! In 2019, one market more than any other will impact Gold. That is the stock market. History argues (within the current context)… Read More
Silver COT Report: Futures Large Speculators Commercial Long Short Spreading Long Short 71,136 59,880 10,121 64,282 92,161 1,822 -10,069 -4,233 -3,503 8,958 Traders 100 58 50 39 41 Small Speculators Open Interest Total Long Short 174,071 Long Short 28,532 11,909 145,539 162,162 76 -494 -5,838 -5,914 -5,344 non reportable positions Positions as of: 162 130… Read More
* Discounts widen in India, jewellers hold off on fresh purchases * Activity quiet in China, premiums narrow to $5-$6.50/oz * Singapore premiums ease slightly to $0.50-$0.60/oz Dec 14 – Demand for physical gold was lacklustre in major Asian hubs this week as high prices dented bullion’s appeal going into the holiday season, with buying… Read More
Nigeria’s first gold refinery, located in the southwestern state of Ogun, is scheduled to be completed by the end of June, according to Kian Smith Trade & Co Ltd., the local company developing it. The refinery will initially be able to produce 3 metric tons of gold each month, and 1 ton of silver, Kian… Read More
LONDON – Canadian copper producer Imperial Metals has hired Bank of Montreal (BMO) to speed up a restructuring process that could include the sale of the company for up to $1 billion, two sources familiar with the matter said. Imperial Metals, backed by Canadian billionaire Murray Edwards, earlier this year set up a special committee… Read More
Dec 13 – Billionaire hedge fund manager John Paulson’s success in ousting the bulk of Detour Gold Corp’s board could serve as a “template” for an expected increase in shareholder activism in the gold sector, institutional investors said on Thursday. The Canadian mining company’s shareholders voted for five board nominees backed by Paulson & Co… Read More
Canada’s Minister of Environment and Climate Change, Catherine McKenna, said this week that, if mitigation measures are taken, Greenstone Gold Mines’ Hardrock gold project is not likely to cause significant adverse environmental effects. The project consists of the construction, operation, decommissioning, and abandonment of an open pit gold mine and onsite metal mill located near… Read More
Canada’s Barrick Gold (TSX, NYSE:ABX), the world’s top bullion producer by volume, is acquiring 12,600,000 common shares of fellow junior miner Reunion Gold Corporation (TSX-V:RGD), which has interests in four different projects in South America’s North Atlantic coast. The Toronto-based company, which already owns 15% of Reunion, said the fresh $2.27-million investment leaves its stake in the Quebec-based miner… Read More
Falcon Gold (TSXV: FG) reported that it completed its 2018 exploration program this week on the Esperanza Resources mineral concessions located in La Rioja province, western Argentina. According to Falcon Gold, the work program was focused on three of its seven concessions, namely ERSA VIII, IX, and X. The idea was to advance the company’s… Read More
GOLD PRICES slipped to 7-session lows against a rising Dollar in London on Friday, dipping below $1235 per ounce as the US reported better-than-expected retail sales growth but China’s economic data missed analyst forecasts. While the US said retail sales outside automobiles, gas and food rose strongly in November, China – the world’s second-largest… Read More
By Egon von Greyerz – December 14, 2018 We are now in the very final stages of the most remarkable era of alchemy in the history of finance. This cycle started in 1913 with the creation of the Fed and had its death knell in 1971 when Nixon took away the gold backing of the… Read More
Gerald Celente breaks down the chaos in Europe, tells us whether or not major protests are likely to break out here in the states and shares his outlook for the metals. Source: Money Metals Weekly Market Wrap
Welcome to this week’s Market Wrap Podcast, I’m Mike Gleason. Coming up the one and only Gerald Celente joins me to talk about the upcoming trends for 2019 both geopolitically and economically. Gerald breaks down the chaos in Europe, tells us whether or not major protests are likely to break out here in the states… Read More
Published by Egon Von Greyerz | Dec 14, 2018 | Articles 168 In this interview Egon covers a number of subjects which will have significant impact on the world economy including: Europe a basket case – Brussels elite is petrified Brexit will cause contagion Italy could be next to fall, or Spain, or Greece, or…… Read More
On Thursday, platinum futures dipped below $800 an ounce as the metal slides back to near 15-year lows first reached in August. Investors have lost interest in platinum with ETF holdings dropping to five year lows. Other indicators are also bearish – the last time platinum traded at this deep discount to sister metal palladium… Read More
Wesdome Gold Mines of Toronto has circulated an interim mineral resource for its 100% owned Kiena mine complex in Val d’Or. The estimate is based on drilling completed to Oct. 12, 2018. Since then, the Deep A zone has been the target of drilling, but its resources are not yet included in the current estimate. Kiena… Read More
Detour Gold Corp shareholders voted for five nominees of Paulson and Co and removed the interim CEO and Chairman, among others, from the nine-member board, the hedge fund said on Thursday, ending a months-long proxy fight. Paulson, who owns about 6 percent stake in the gold miner, had nominated eight members to the board. The… Read More
Shares of ATAC Resources (TSXV: ATC) plunged 25% on news that Barrick Gold (TSX: ABX; NYSE: ABX) is terminating its earn-in joint venture on the junior’s Orion project, part of its 100%-owned Rackla gold property in the Yukon. Barrick declined a request for comment on the decision, but in an investor day presentation last month, the company’s head of… Read More