Half way through our Yukon tour, the media group was greeted by another blue-bird day in Dawson City. Things had been progressing smoothly to this point, but Mother Nature stepped in with some foggy weather and we couldn’t fly in to visit Rockhaven Resources’ (TSX-V: RK) 100% owned Klaza Project. Even the best organizers, which… Continue Reading
Via Energy and Gold.com: “At a market bottom, falling prices eventually force out large numbers of traders, resulting in volatility and increased volume.” ~ Cory Mitchell (Investopedia) This quote on market bottoms perfectly sums up the gold miners (GDX) during the last couple of years: With each successive price decline both volume and volatility have made… Continue Reading
Via Energy and Gold.com: One of the most successful investors in history, Carl Icahn, has taken a roughly 8.5% stake in copper/gold mining giant Freeport-McMoran (FCX). Shares of FCX have been battered in recent months, dropping nearly 70% since early May: Icahn is most well known for his timely investments in fallen angels. Most notably… Continue Reading
The official Yukon Mining Tour kicked off (read part 1 from Friday here) with a 6:30 AM checkout in Whitehorse. We made our way to the Alkan Air Hangar which services northern Canada and Alaska, based out of Whitehorse. The group boarded a 15 person fixed wing airplane to make the 1.5 hour journey to ATAC… Continue Reading
Few majors and juniors are willing to deploy exploration capital in this market but even less are prepared to prospect on virgin ground. One junior Company with a mandate to pursue grassroots exploration is Westhaven Ventures (westhavenventures.com). Westhaven (TSX.V – WHN) is the vehicle legendary prospector Grenville Thomas and his team are using to define… Continue Reading
Via Energy and Gold.com: 8 days ago I sent out a tweet calling for $1150 gold within a couple of weeks based upon strong seasonal tailwinds and the likelihood that we would get some significant short covering after futures speculators had become over zealous in piling on short positions: This morning we’ve traded as high… Continue Reading
Via Energy and Gold.com: The latest CFTC Commitments of Traders Data shows that as of Tuesday’s close (7/28/2015) dumb money gold futures speculators (small specs) held the largest net notional short position in history: The small speculators net short position totals 9,199 contracts or slightly more than $1 billion USD notional. Read also –… Continue Reading
Via Energy and Gold.com: An interesting dynamic has taken shape in gold in recent weeks. As price has continued to oscillate in a roughly $30 range between $1075 and $1105 sentiment has further deteriorated, here is a small sampling of some of the headlines that have been out there the past couple of days: Two… Continue Reading
Via Energy and Gold.com: With gold floundering just below $1,100/oz for the last week gold bulls are digging for reasons to be optimistic. However, the following two charts courtesy of Morgan Stanley Research indicate that relative to other commodities gold is fairly is expensive and producers have not yet responded to the recent price decline… Continue Reading
Via Energy and Gold.com: “Is this it for gold?” is the question many are asking themselves this morning. With the yellow metal falling $50/oz in a matter of minutes Sunday night one has to wonder if the coffin is closing for the long-term gold bull market or are we rapidly nearing a bottom in what has… Continue Reading
Via Energy and Gold.com: While the CFTC Commitments of Traders Report is far from an exact market timing tool, it does offer one of the best gauges of market positioning and sentiment. After Tuesday’s sell-off speculative positioning fell to a level of net length that has more often than not coincided with major lows: … Continue Reading
Via Energy and Gold.com: All hell has been breaking loose for the last week. From the Shanghai stock market going into full crash mode to Greek citizens formally voting to leave the eurozone to the New York Stock Exchange halting trading for 4 hours, there’s been a lot to be concerned about if you’re an investor.… Continue Reading
Via Energy and Gold.com: This morning we are seeing the first unmistakable signs that the China stock market crash will not be contained only to China. The silver break below $15 is pretty representative of what’s going on elsewhere this morning: This morning’s break of support which had held for 9 months in silver… Continue Reading
Via Energy and Gold.com: This is the kind of gold futures CoT report that gold bulls definitely did not want to see: A sizable increase in net speculative long positioning combined with a 15,260 contract increase in open interest which appears to have primarily come as a result of both large & small speculators… Continue Reading
Via Energy and Gold.com: Gold has a very strong tendency to put in a major low during July and rally well into September/October. In fact, using a 20 year seasonal study chart we can see that gold typically makes one final dump lower into the July 4th US holiday before turning higher for the next… Continue Reading
