Noted technician and fund manager J.C. Parets has been a long time friend of CEO.CA and E&G. Yesterday he put up a tour de force post on gold and gold miners highlighting the significance of some of the recent price action over various time frames and relative to other asset classes. We have selected a… Continue Reading
Less than a month ago nobody wanted anything to do with the yellow metal, now suddenly everyone is bullish on gold and the herd is cramming through a narrow doorway trying to get long: GLD (Daily) The GLD exchange-traded fund has gone parabolic with a daily RSI(14) of 84.53 and a Force Index(13) that is… Continue Reading
Via Energy and Gold.com: Some stats about the current rally in the gold miners (GDX): +37.50% in 13 trading sessions GDX has gone from 3 sessions dipping below the lower 2-std. deviation Bollinger Band (January 19-21) to 3 consecutive closes above the upper 2-std. deviation Bollinger Band (February 3-5) GDX has rallied at least 5%… Continue Reading
Sabina is fully funded through environmental assessment and permitting phases World class management team with history of success in bringing Arctic projects to acquisition and/or production Completed feasibility study with 24.2% post-tax IRR at US$1,150/oz gold price Back River life-of-mine all-in cash cost of US$763 per ounce One of the best performing junior gold explorers… Continue Reading
Via Energy and Gold.com: The gold miners (GDX) rallied for a 6th consecutive trading session today making for a 14.5% gain since last Tuesday’s all-time low at $12.40: GDX (Daily) In the last few years a six session winning streak in GDX has happened only twice (August 2014 and May 2015) and both times turned… Continue Reading
Deep below the surface of Mongolia’s southern Gobi desert, men and machinery are laying the foundation for a mining enterprise that will drive the country’s economy for decades to come. Shaft 2 at Oyu Tolgoi’s underground mine expansion is 1.3 kilometres deep and will provide access to some of the largest stores of copper and… Continue Reading
Kaminak Gold is one of the few junior gold explorers moving full speed ahead with its flagship Coffee Gold Project despite challenging market conditions; the economics at Coffee are simply too compelling. Last week Energy & Gold had the opportunity to catch up with Kaminak Gold (KAM.V) CEO Eira Thomas and VP of Corporate… Continue Reading
Via Energy and Gold.com: “100 years of history proves that the Fed is clueless. The mismatch between interest rates and risk today is absolutely insane. My opinion is that the whole financial system is going to blow sky high.” The Energy & Gold team had the pleasure connecting with legendary metals blogger and… Continue Reading
Via Energy and Gold.com: A sea of green across U.S. equity markets today: S&P 500 Heat Map Perhaps most interesting was that gold miners (GDX) rallied nearly 4% as gold added $17/ounce: GDX (Daily) GDX has spent the 2nd half of 2015 repeatedly testing support in the $13-$14 area. Given that the ‘bad… Continue Reading
Via Energy & Gold.com: The Federal Reserve finds itself in a tricky situation heading into Wednesday’s FOMC announcement. There has been a considerable build-up over the past several weeks (primarily from strong employment reports) which has led to the market anticipating a 25 basis point hike the Fed Funds Rate. However, the shakeout in the… Continue Reading
Via Energy and Gold.com: Since the odds of a Fed rate hike at its December meeting shot up above 80% gold has actually outperformed the S&P 500: Gold vs. S&P 500 since November 20th This outperformance is widening further today as gold is .4% higher on the session while the S&P 500 is… Continue Reading
Via Energy and Gold.com: While the gold miners (GDX) continue to experience significant day to day volatility the ratio chart of GDX relative to the S&P 500 (SPY) shows a clean double-bottom pattern with a notable bullish momentum divergence: GDX/SPY (Daily) The October/November decline in the miners made a marginal new low in the… Continue Reading
Via Energy and Gold.com: Gold futures speculators have moved into full capitulation mode in recent weeks. The liquidation we have seen in gold since the October highs is one for the record books; a more than 135,000 contract reduction in net long exposure for a net notional amount of more than $15 billion: There… Continue Reading
Via EnergyandGold.com: Precious metals have had an awful month of November thus far with both silver and gold suffering significant declines while posting record losing streaks. Most notably silver has posted a record 14 consecutive losing sessions and is currently working on a 15th as I write this: Silver (Daily) Several things stand out to me… Continue Reading
I had the chance to visit once again with Rick Rule, Chairman of Sprott US Holdings. It was a great conversation, focusing on the state of metals and mining, a $20 billion opportunity now available due to market chaos, and ‘multiples of potential return’ in mining equities, should historical measures reassert themselves. “I’ve seen this… Continue Reading
