For the past six weeks gold has traded within a tightening range which has increasingly focused around the $1300 level. While the recent consolidation could easily resolve in either direction, there are 3 good reasons for gold bulls to be concerned about a downside move over the coming weeks: 1. Commitment of Traders (COT) data has… Continue Reading

Continental Gold’s Buriticá project is Colombia’s most valuable gold deposit currently advancing towards production. The company is aiming to have over 10 million ounces of gold by 2015 and be in production by 2017, according to their latest corporate presentation. The Buriticá project covers a large area home to many illegal small scale miners, four… Continue Reading

During the final phase of the last gold rally between 2008 and 2011 we heard a lot about any number of bullish catalysts for gold: The long term decline of the US Dollar as the world’s reserve currency Insatiable Asian demand for physical gold The specter of hyperinflation resulting from the Federal Reserve’s quantitative easing… Continue Reading

Tommy here… The gold mining industry has heard a lot about companies “high grading” their deposits to target the highest margin ores, thus sterilizing the lower grade material, as a defensive measure amid the past three year bear market in gold and mining stocks. Adam Simmons, Ph.D. Geology and Investment Advisor at PI Financial, who co-author’s the Digging… Continue Reading

With the situation in Ukraine reaching a fever pitch, gold has surged back above $1315 this morning: Click to enlarge Russia appears to have every intention of destabilizing Ukraine to the point of provoking an all out civil war which will give it the cover to enter the east under the auspices of “peacekeeping”. Gold… Continue Reading

The Toronto Venture Exchange (TSX-V) started 2014 off with a blistering 20% rally which gave way to a shallow pullback since the beginning of March: Click to enlarge Summer seasonality tells us to sell in May and come back in late-August. However, the recent double-bottom at 980 offers a solid downside reference point – a… Continue Reading

Colombian copper-gold explorer Cordoba Minerals was mentioned in PI Financial’s latest Digging Through The Dirt (DTD) newsletter, which is authored by Bill Whitehead, Senior Vice President & Senior Investment Advisor, Adam Simmons, Ph.D. Geology, Investment Advisor, and Justin Hayek, CIM, Investment Advisor. Cordoba Minerals – CDB-v You will recall that in previous issues of DTD we outlined a… Continue Reading

After this morning’s break of support near $1275 gold was at risk of suffering a much deeper tumble. However, something unusual occurred shortly after the US equity market open: Click to enlarge A $30 upside reversal which places this morning’s brief break of support in the false breakdown category. And as we know, from false… Continue Reading

The Economist is out with a first class post on Barrick Gold founder Peter Munk. Munk’s tale How a former refugee from the Nazis made and lost several fortunes Apr 19th 2014 | From the print edition YOU can’t be right all the time. In a 1995 profile of Peter Munk, the founder of Barrick Gold,… Continue Reading

AKG data by YCharts As the company promised, Asanko Gold (AKG:TSX) has finalized and amended their $150 million project debt facility with Red Kite which is inline with the previous terms.   Final definitive agreements are expected by the end of Q2.  When Asanko merged with PMI Gold late last year and the combined entity revised their plan… Continue Reading

Gold is under heavy selling pressure this morning after 1700 futures contracts changed hands within one second moving price down from $1298 to $1284.40: Click to enlarge Eric Hunsader of Nanex has an excellent chart illustrating the 10-second trading halt which took place after gold hit $1284: After reaching $1331 yesterday the worst case scenario… Continue Reading

Gold has rallied more than $50 in the past two weeks and is now back to where it was trading when Goldman Sachs issued its bearish call on gold. However, significant resistance lies just overhead in the $1330-$1340 area: Click to enlarge There has been a great deal of trading activity in the $1330s since… Continue Reading

Volatility in the gold market, both realized and implied, has dramatically declined during the past year as evidenced by the following two charts: Click to enlarge Gold (daily) The average true range (14 days) for gold has fallen by 50% since October 2013 and currently sits at its lowest level since last March (just before… Continue Reading

Gold has now retraced half of the January-March rally and Friday’s low of $1286.10 may have marked the end of the recent correction: Click to enlarge There is a substantial amount of evidence pointing to the idea that a short-term/intermediate-term low may have been put in place Friday: Friday’s session printed a spinning top candlestick… Continue Reading

ROG data by YCharts After closing their recently announced ~$29 million bought deal financing, filings show that the London-based private equity firm, Appian Capital, has acquired 21.6 million shares (10.1%) in Roxgold (ROG:TSXV).  The shares were acquired as part of a BMO Capital Markets led $29 million bought deal financing priced at $0.58 per share.  Haywood… Continue Reading