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Maya – 25+ years of mistakes is just about exactly what I bring to the party here too
Well, the HUI bounced yesterday where it had too, albeit not much.
Hopefully it’s a good sign that we’ll open higher today, especially considering the USD is up a little.
Still waiting for that “rip your face off rally”
Snow Train
Snow! Plow Trains! Midwest Winter.
http://www.railpictures.net/photo/687529/
http://www.railpictures.net/photo/687527/
I love that headline
“All I bring to the party… is 25 years of mistakes”
Sounds like that could describe a lot of us here. 🙁
Central Bank buying up 74% year-over-year! Highest annual net purchases since Nixon closed the gold window! These are some astounding figures that few are talking about.
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’ll warn you right off the bat, I have been waiting to write this piece for the past few days. You see, it’s a gold post, and as much as I try to take a bigger picture view, the trader-in-me still hates writing a bullish piece just as the market is about to have a minor correction. So I often get cute and wait for a dip before I publish.
But the gold decline refuses to materialize and I have decided to just post my piece – hoping I am not top-ticking this recent rally, but fearing it’s probably the surest sign we are headed lower over the short run.
Yet over the long-run, I contend something has changed in the gold market. Something we should all be paying attention to.
Whether it’s gold priced in CNY, EUR, JPY or AUD, it’s all the same chart – gold has had a strong rally in every currency.
Gold is not going up because of US dollar weakness – it’s going up in real terms.
The question is why?
There is little doubt that the dovish tilt by Powell has helped gold, but if you look at when the rally started, it was way before his post-Christmas cave.
I don’t have any wonderfully original insights to present to you today. Rather, what little I can offer is to connect some dots and make a guess that the timing is finally lining up for some bigger picture macro trends that have been brewing for some time.
I urge you to read the recent report by the World Gold Council titled “Gold Demand Trends Full year and Q4 2018. From the executive summary:
Look at those figures closely. Central Bank buying up 74% year-over-year! Highest annual net purchases since Nixon closed the gold window! These are some astounding figures that few are talking about. Everyone is blabbering on about every Trump tweet or focusing on the minute-by-minute progress in the Chinese-American trade negotiations, yet right in front of us has been a dramatic shift in the demand picture of the gold market.
My good friends at Murenbeeld & Co. created this great chart for me that shows the net purchases by the Central Banks over the past few decades to get a sense of the scale of the buying.
Moggy 17:55
Most people trying to go up the socioeconomic ladder not down. That’s what they want, ” for us anyways.
Got more reading books from the past
After Dick and Jane which grandson enjoyed reading I got more books from that era. Reading books with multi short stories for kids grade 2-4. Same books were used in schools all over the us. From PA , Minnesota , Venice Ca. Kids signatures still on them some faded. From 1951-61 stamped. I don’t remember these books though.
I’m always seeing people applying this without mask or gloves … yummy
New Study Finds 41% Increase In Cancer Risk From Roundup’s Glyphosate
A comprehensive analysis of glyphosate – the most widely used weed-killing chemical in the world – reveals that those with the highest exposures to the popular herbicide have a 41% increased risk of developing non-Hodgkin lymphoma (NHL) cancer.
larouche
will be missed. i didn’t always agree, but he was always interesting.
NEM & GG
being held down on the day. Gotta keep the HUI in check ya know…
Overton
That’s interesting info about New Gold. I’ve shied away from it and glad I did but still watch the shares. They had a nice bounce from the lows of about $.70-80 at the end of last year but those earnings are horrible so it looks like they’re going back to the lows.
The Fight Between Miners and African Governments Is Just Getting Started
“Never forget that money is a coward,” said Robert Friedland, founder of Ivanhoe Mines Ltd., which is developing huge copper and zinc mines in Congo. “When a politician says something dumb, when a government does something dumb, money runs away at the speed of light.”
A little different when you have sunk billions into projects …
New Gold…………..whenever Pierre Lassonde departed because of
some disagreement that he mentioned briefly on Kingworld News it was over. I learned my lesson 2 decades ago when the Canyon Resources ceo (CAU) neglected to tell Pierre about the anti cyanide crowd with the 8 mil oz Montanna deposit. Lassonde terminated the deal immediately. You could always tell when Lassonde was going to be on Kingworld as there was always bigger than usual move$ in the New Gold price days before his appearance.
Goldcorp
wrote off about 4 billion in PAPER lossses …Now they can carry forward about 4 billion and NOT pay taxes on the first 4 billion of earnings….great move Newmont..you bought very cheap,now its all tax free…double plus..add in some efficienies of combination and you got a Hugh cash Cow ! They know how to read a balance sheet…
Buygold
Pretty ugly day for NGD. Like you said they “used to be” a decent company … and this hedging business … screw that!
NewGold – NGD
Getting crushed on earnings loss. Used to be a decent stock but now they are hedging their gold and copper production.
Eff them.
https://finance.yahoo.com/news/gold-provides-2019-operational-outlook-113500798.html
Smashing the shares out of the gates
HUI better turn back up from around here or this year is over.
Retail Sales worst in a decade, PPI slows
Initial pop in gold and silver, drop in the USD.
Silver back down, gold going nowhere fast. ESF in full view keeping pm’s on lockdown.
Silver Train
The North Coast Hiawatha takes a detour thru
rural Wisconsin due to flooded track
http://railpictures.net/photo/686707/