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The Gold Report
Buy Gold Stocks Patiently
Money manager Adrian Day discusses three stocks in his portfolio that he sees as buys. Midland Exploration Inc. (MD:TSX.V, 1.06 x 1.07) continues to explore aggressively on its joint-venture projects and (judiciously) on its own land. In all, for this year, the company plans 25,000 feet of drilling with a budget over $6 million. This includes a program just commenced on drilling close to Balmoral's Bug Lake discovery with its partner Soquem, and a majo
Wednesday, March 22, 2017
Rick Ackerman
Selloff Rewards Two Timely Option Bets
Tuesday’s downdraft demolished a key S&P support (see inset), implying sellers aren’t through yet. The rare, exhilarating (for bears) selloff also kicked into high gear two options positions we’d acquired hours ahead of the move — one using call options in VXX; the other, DIA puts. The former doubled in price in under two hours, while the latter tripled from the 0.72 price where subscribers had acquired them earlier in the session. The timing was not mere luck. In the case of the VXX trade — ess
Wednesday, March 22, 2017
Rick Ackerman
Some Encouragement for Permabears
We’re dealing with many crosscurrents, including a major rally target at 2403.00 that the futures came within six points of achieving three weeks ago. It’s not possible to say with confidence right now whether this feint will prove to have been the elusive Mother of All Tops. However, there is no question that the S&Ps are showing signs of fatigue.  Today’s chart shows this in the form of a minor rally pattern whose target coincides with the big-picture target. The E-Minis have struggled to reac
Tuesday, March 21, 2017
Sprott Money
Gold Silver Soar After The Fed’s Clown Show - Rory Hall/Dave Kranzler
The Federal Reserve’s FOMC predictably nudged the Fed Funds rate up 25 basis points (one quarter of one percent) to set its “target” Fed Funds rate level at .75%-1%. Nine of the faux-economists voted in favor of and one, Minneapolis Fed’s Neil Kashkari, voted against the meaningless rate hike. Or is it meaningless? Ex-Goldman Sachs banker Neil Kashkari was one of the Treasury’s Assistant Secretaries when the Government made the decision to bail out Wall Street’s biggest banks with nearly $
Monday, March 20, 2017
USA GOLD - USA Gold
The Daily Market Report: Gold Poised for Solid Weekly Gain
USAGOLD/Peter A. Grant/03-17-17 Gold remains firm, poised for its first positive weekly close in three-weeks. The yellow metal rebounded smartly on Wednesday after the Fed announced policy and economic projections, extended higher yesterday and is maintaining the bulk of those gains today. Minneapolis Fed dove Kashkari reiterated why he dissented on this week’s rate hike, noting that inflation remains below the Fed’s target and that slack in the labor market remains. He also said the Fed should
Saturday, March 18, 2017
Frank Shostak
  How the Fed Operates — And Why It's a Problem
We are often asked about the mechanisms by which the US Federal Reserve Board (the Fed) influences the level of US interest rates and whether these mechanisms also influence the level of the US money supply. It has long been regarded that the Fed no longer inflates and contracts the money supply but rather simply acts to target interest rates. The purpose of this brief paper is to clarify how the Fed works and the impact that its operations have on the money supply. The main market through which
Saturday, March 18, 2017
The Gold Report
Gold Stocks for All Risk Appetites
Money manager Adrian Day reviews recent developments at a handful of gold companies, both juniors and seniors. Franco-Nevada Corp. (FNV:TSX; FNV:NYSE,NY 62.58), already one of most diversified of royalty companies, is expecting further commodity diversification ahead, with CEO David Harquail saying the company will do more deals in non-precious metals, particularly oil and gas. The company's mandate allows for up to 20% of the portfolio outside precious
Saturday, March 18, 2017
Rick Ackerman
Bullion's Surge Is Weaker than It Looks
Buyers extended Wednesday’s perplexing rally — perplexing because if gold were acting normally, it would be falling on Wednesday’s headline news of a 25-basis-point rate hike by the Fed. Rising returns on risk-free paper are supposed to attract money away from bullion, right?  Whatever the case, day two of gold’s surge conspicuously failed to reach the midpoint Hidden Pivot at 1236.00, never mind punch through it. A decisive move past the pivot would all but guarantee a further push to the 1277.
Friday, March 17, 2017
USA GOLD - USA Gold
Morning Snapshot: Gold builds on yesterday’s gains
USAGOLD/Peter A. Grant/03-16-17 Gold is extending to the upside, adding to the solid gains notched in the wake of yesterday’s Fed decision. The dollar is under pressure after the Fed raised rates, but the tenor of the statement and presser were less hawkish than some were expecting. The previous two rate hikes also triggered strong rallies in gold. If those rallies are any indication, there is further upside potential this time around as well. The dot plots point to ongoing modest growth, below
Thursday, March 16, 2017
Mark O'Byrne - gold.ie
Gold Up 1.8%, Silver Up 2.6% After Dovish Fed Signals Slow Rate Rises
– Gold up 1.8%, silver up 2.6% – Fed signals slow rate rises – Dollar sells off as Fed raises 0.25% to target range of 0.75 percent to 1 percent on inflation outlook and “ebullient” stocks – Gold’s biggest 1 day percentage gain since September 2016 – Fed raises rates for only the third time since crisis – Fade out Fed “jibber jabber” and focus on still ultra low rates (see chart) – Rising rates bullish for gold as seen in 1970s and 2003 to 2007 (see table) – Silver rose 26% in 2003, 14% in 2004,
Thursday, March 16, 2017
Mish - Global Economic Analysis
Fed Hikes With One Dissent: Fed Behind the Curve?
As expected, the Fed hiked interest rates 25 basis points to a range of 3/4 to 1 percent. Minneapolis Fed president Neel Kashkari dissented. Kashkari voted to hold rates steady. Here are snips from the FOMC March 15 Statement. In view of realized and expected labor market conditions and inflation, the Committee decided to raise the target range for the federal funds rate to 3/4 to 1 percent. The stance of monetary policy remains accommodative, thereby supporting some further strengthening in la
Thursday, March 16, 2017
USA GOLD - USA Gold
Fed raises rates by 25 bps, as was widely expected. Minneapolis Fed’s Neel Kashkari dissents.
Release Date: March 15, 2017 For release at 2:00 p.m. EDT Information received since the Federal Open Market Committee met in February indicates that the labor market has continued to strengthen and that economic activity has continued to expand at a moderate pace. Job gains remained solid and the unemployment rate was little changed in recent months. Household spending has continued to rise moderately while business fixed investment appears to have firmed somewhat. Inflation has increased in re
Thursday, March 16, 2017
Rick Ackerman
Gold's Next Leg Down Targets $1156
Our downside target for the near-term is 1156.60, a ‘midpoint’ Hidden Pivot that comes from the weekly chart. April Gold had a chance to rally out of the hole this week from a bouncy-looking pivot at 1195.40. Instead, the futures popped for a few measly points before falling back to the support. This is pretty feeble price action, especially considering the rally had round-number support at 1200.00 going for it as well. Under the circumstances, we should expect the futures to continue lower, eve
Wednesday, March 15, 2017
Bullion Vault
Gold Bullion Holds $1200 as US Inflation Confirms 5-Year High Before Fed, But Crude Oil Sinks
GOLD BULLION gave back a 0.6% rally in London lunchtime Tuesday, retreating as new US data confirmed that tomorrow's Federal Reserve decision on raising interest rates will come as price inflation rises at the fastest pace in 5 years. Versus a rising US Dollar gold bullion touched $1207 per ounce before easing back, but held above Friday's 5-week lows beneath the $1200 mark. Silver prices meanti
Tuesday, March 14, 2017
Phoenix Capital - Gains Pains & Capital
Everyone is Talking About the Wrong Central Bank and the Wrong Rate Hike
The Fed meets this week on Tuesday and Wednesday. The market believes that there is an 86% chance the Fed will be hiking rates during this meeting. The Fed has been broadcasting this for a month straight. It is possibly THE most expected rate hike in years. The consensus is that we will see a 0.25% rate hike bringing the Federal Funds Target rate to 0.75%-1.00%. BORING. No one makes money by trading the most expected thing. With that in mind, what the Fed does or doesn’t do is largely irrelevant
Tuesday, March 14, 2017
Rick Ackerman
Chart Predicts a Dire Endgame for Interest Rates
This proxy for T-Bonds has quietly slipped into no man’s land with the recent breach of December’s bombed-out lows near 116.80. Even before this occurred, TLT looked like a good bet to fall to at least 111.97, the midpoint Hidden Pivot support of the pattern shown. But it would require only a breach of the July 2015 low at 114.88 to do very serious damage to the long-term chart. If the 111.97 target is hit, it would correspond to a rise in long-term interest rates to about 3.37% from a current 3
Tuesday, March 14, 2017
Captain Hook - Treasure Chest
Of Useful Idiots and COMEX Silver Speculators
Incredibly, open interest (OI) on COMEX silver continues to skyrocket, now only a few thousand contracts from all time highs.Why is this happening? Answer: Hedge fund buying with other people’s money. What’s more, the options are largely viewed as sacrifice trades (hedges), seen as lost money before the trade is put on, because if they don’t pay off this means the rest of their gambling probably will. Now normally, this would be a very bad sign for silver prices, because in terms of COMEX specul
Monday, March 13, 2017
Frank Shostak
How Central Banks Enable the Money-Creation Process
According to traditional economics textbooks, the current monetary system amplifies the initial monetary injections of money. The popular story goes as follows: if the central bank injects $1 billion into the economy and banks have to hold 10% in reserve against their deposits, this will cause the first bank to lend 90% of this $1 billion. The $900 million in turn will end up with the second bank, which will lend 90% of the $900 million. The $810 million will end up with a third bank, which in t
Saturday, March 11, 2017
Jesse - Le Cafe Américain
Stocks and Precious Metals Charts -
Despite some intraday action, stocks finished largely unchanged. Precious metals managed to hold their key levels in the face of the 'better than expected' Jobs Report. The FOMC will be announcing their decision on rates next Wednesday.  I have included the economic calendar for next week below. The SEC has rejected the Winklevoss twins proposal for an ETF for Bitcoin, sending the value of the digital currency lower after hours.   I am not a fan of Bitcoin for anything but a trade. I have ta
Saturday, March 11, 2017
Bullion Vault
Pre-Fed 'Profit-Taking' Hits Dollar on Jobs Surge, Gold Bullion Back Over $1200
GOLD BULLION bounced back above $1200 per ounce Friday lunchtime in London as the Dollar fell on what traders called 'profit-taking' following strong US jobs data ahead of next week's expected interest-rate rise from the Federal Reserve. Non-farm payrolls expanded by a much-stronger-than-expected 235,000 last month, the official estimate said, cutting the US jobless rate to 4.7% as average earnings accelerated to 2.8% annual growth.
Friday, March 10, 2017
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