BRIEN LUNDIN | the Fed, the Dollar and Precious Metals
Posted onSource: milesfranklin.com
Category: Precious Metals
Another Day Older and Deeper in Debt
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Miles Franklin sponsored this article by Gary Christenson. The opinions are his. Official US national debt exceeds $21 trillion. National debt increases over $3 billion per day. Another day older and $3 billion deeper in debt! The U.S. government pays the interest by issuing new debt. But that new debt increases total debt and (eventually)… Read More
Caterpillar plummets after flagging tariffs-triggered high material costs
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Shares in Caterpillar (NYSE:CAT), the world’s no.1 heavy machinery maker, more than 7 percent in pre-market trading Tuesday, despite the company beating earnings estimates for the tenth time in a row. The stock lost as much as $9.76 by 8:48 a.m. ET, to $118.95, after closing at $128.71 on Monday, the lowest so far this year. The… Read More
Gold Price Hits Mid-July Highs as China Stimulus 'Fades Fast' and 'Spreadonomics' Hit Italy
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GOLD PRICES jumped to their highest Dollar price since mid-July in London trade on Tuesday, hitting $1236 per ounce as world stock markets fell after China’s main index erased most of yesterday’s stimulus-fueled rally. Gold prices came within 40 cents of $1240 per ounce – adding 6.8% from August’s plunge to start-2017 levels –… Read More
Iamgold to apply for mining concession at ‘promising’ project in Senegal
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Canada’s IAMGOLD Corp. (TSX IMG), (NYSE: IAG) plans to apply for a mining concession before year-end after releasing a robust feasibility study for its near-2 million ounce Boto gold exploration project in Senegal. President and CEO Steve Letwin said while a final investment decision on the $254-million project was yet to be made, Boto represented… Read More
Greatland finds copper, silver and gold at Australia project’s Scallywag target
Posted onLondon-listed explorer Greatland Gold (LON:GGP) has detected copper, silver, gold and pathfinder elements at its Scallywag target of the company’s Paterson project in Western Australia. The sampling results, said Greatland on Tuesday, reinforce the potential of both precious metals and copper mineralization at the site, located within its Havieron licence. Copper, silver and gold detected in… Read More
Congo sets deadline for plan on 11,000-megawatt hydro plant
Posted onThe Democratic Republic of Congo gave two groups of investors a four-week deadline to submit a joint proposal on the development of the multi-billion dollar Inga 3 hydropower plant. The government signed an accord with Chinese and Spanish consortia this week to advance the 11,000-megawatt facility, the first time it’s formally appointed entities to draw… Read More
Gold price tempts BofAML to wager on short-term bullish options
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The burgeoning interest in gold has reached Wall Street, with Bank of America Merrill Lynch strategists backing bullish options linked to the precious metal. A negative view on the dollar, large short positions in gold futures and investor demand for portfolio protection are some of the reasons behind the call, investment strategists including James Barty… Read More
The sky is falling
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For nine years now, every time we have an intermediate degree correction the perma-bears crawl out of the woodwork and start screaming the sky is falling. If you had listened to these people you would have missed one of the greatest bull markets in history. We had one of the most destructive bear markets in… Read More
James Turk: This Catalyst Will Create A Massive Upside Surge In Gold and Silver
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“The evidence is mounting, Eric, that the precious metals have turned the corner and are heading higher… “Today in particular saw something very important – upside follow through. Gold rose 1.4% last week, and instead of falling back, gold had a good move up again today. Upside follow through like this has been lacking for… Read More
Precious Metals Video Update: Gold & Gold Stocks Rally & Uranium
Posted onIn this video we look at upside targets for Gold and the gold stocks as well as the fundamental catalyst for the sector. We also opine on the reversal in uranium stocks. Click Here to Learn More About & Subscribe to TheDailyGold Premium Source: The Daily Gold
RNC kicks off gold exploration drilling program at Australian project
Posted onCanada’s RNC Minerals (TSX: RNX), the company that last month unearthed more than 9,000 ounces of high-grade gold from a single blast at its Australian Beta Hunt mine, said Monday the first mobile diamond drill has arrived at site and underground drill crews have started the exploration program at the site. The Toronto-based miner said, set to release third-quarter production results… Read More
If Trump Doesn’t Like The Fed Now, What Will He Say If Rates Are Normalized?
Posted onWritten by Chris Marcus of Miles Franklin In the past two weeks, President Donald Trump has been criticizing the Fed again for raising interest rates too quickly. Which he cites as the reason for the recent correction in the financial markets. Which like many political statements has some elements of truth mixed into a… Read More
Gold Price 'Set to Squeeze Bears' Again After Net Short Slashed 63%
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GOLD PRICES slipped Monday morning, dropping $12 per ounce below last week’s 2.5-month high as China’s stock market rallied at its fastest since 2015 on a raft of ‘support’ promised by Beijing, writes Atsuko Whitehouse at BullionVault. Europe and other Asian equity markets rose less steeply, while gold prices traded down to $1221.50 per… Read More
Here's How Hungary Reduced Risk Without Forfeiting Returns
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Hungary isn’t known today as one of the world’s top gold producing countries. There was a time, though, when it accounted for around three-quarters of Europe’s entire output of the yellow metal, if you can believe it. According to historian Peter Sugar’s A History of Hungary, the central European country was a “veritable El Dorado”… Read More
Lonmin in $200m loan deal with state-backed Chinese company
Posted onSouth Africa’s Lonmin (LON:LMI), the struggling platinum producer in the process of being taken over by rival Sibanye-Stillwater (JSE:SGL) (NYSE:SBGL), said Monday it had raised $200 million through a metal-for-loan deal with a state-backed Chinese company. Under the deal, Lonmin will repay most of the loan by delivering platinum and palladium over a three year… Read More
Glencore boss Ivan Glasenberg to retire in 3-5 years — report
Posted onGlencore chief executive officer Ivan Glasenberg is said to be planning to retire from the commodities trader and miner in three to five years, and has even begun training a small group of front runners to take over the post. Glasenberg (62), whose strategic brilliance has made Glencore’s — and his own — prodigious fortune, is… Read More
Midterm Elections Might Affect Gold and Silver
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The outcome of the November 6th voting will be a big deal for investors, including gold and silver bugs. The metals, perhaps more than most other asset classes, are sensitive to geopolitics. Let’s break down what the potential voting outcomes might mean for the factors currently driving the metals. Let’s start with the equity markets.… Read More
TheDailyGold Premium Update #592
Posted onThe 20-page update was published and emailed to subscribers Sunday late morning. In this update we cover most of our holdings and cover a few stocks on our watch list. This was a real meaty update. There are some buying opportunities in the sector. Source: The Daily Gold
Wolverine Mine could be sold soon
Posted onThe Yukon Minister of Energy, Mines, and Resources Ranj Pillai said this week at the provincial legislature that Yukon Zinc might sell its Wolverine Mine very soon. According to Pillai, his office has been backing a weeks-long process that involves the sale of the zinc, silver, copper, lead and gold asset to an undisclosed buyer.… Read More