Loading ...I think the Chinese passed on it years ago, its just no one remembers because its not known for tourists.
I watched a BBC doc on the aborigines and you $ee they would be a problem in that area.
Richard640 @ 18:33
With the cretins on the run it seems that reality is being manifested. Just hoping here that the smell of burning Walmarts and Quick Stops doesn’t soon permeate the landscape.
We may not see this but certainly our children will get a taste.
I highly. respect Cliff & am glad to see him bullish on gold-like so many he thinks gold needs to correct a wee bit–but he/they don’t realize that gold just finished
[a 3-4 week correction and will soon go to new highs. as the seasonally strongest period of the year for gold is. here]
Gold’s Strength Will Outlast The Dollar’s
Aug. 20, 2019 10:13 AM ET Includes: AAAU, BAR, DGL, DGLD, DGP, DGZ, DZZ, GDX, GLD, GLDI, GLDM, GLDW, GLL, IAU, IAUF, OUNZ, PHYS, QGLDX, SGOL, UBG, UGL, UGLD, UUP
Summary
Gold and the dollar are at a crossroads in terms of relative performance.
U.S. intervention to weaken the dollar is a possibility in coming months.
Regardless, global tensions virtually assure continued strength for gold.
There’s also a definite political incentivefor the Trump administration to collaborate with the U.S. Treasury Department and the Fed at some point to weaken the dollar before the global economy becomes truly unhinged. A U.S. currency intervention would, of course, pave the way for China to accuse the U.S. of being a currency manipulator. But anything that weakens the dollar would also give additional support for the gold price due to its currency component. Between continued global market volatility and the possibility for a weaker dollar, gold stands to benefit in either case.
ipso,
“…A few months more of days like this …”
i really like the sound of that.
Kyle Bass= told CNBC’s David Faber that the Fed will follow the rest of the world’s central banks to zero.
“There is a problem with cutting rates because it shows a sense of alarm,” Nobel-winning economist Robert Shiller said Tuesday on CNBC’s “Squawk Box.”
A quarter-point drop in interest rates is a tiny adjustment, but the fact that the Fed is cutting rates at all had the opposite intended effect, sparking fears of recession.
Kyle Bass, founder and chief investment officer at Hayman Capital Management, told CNBC’s David Faber that the Fed will follow the rest of the world’s central banks to zero.
“You don’t want to use the Z word because it scares people,” Shiller said. Many Fed watchers have not only used the Z-word but predict the Fed will lower rates even further than that in the event of a recession.
The market is already giving you a glimpse into this future, with $15 trillion in negative-yielding debt around the world. The U.S. is an outlier with positive rates.
All these ideas leave the market jittery. Stocks ended down for the first time in four trading days, a sign the market could continue down the same path of volatility investors have seen since the last rate cut. Not everyone expects the worst. J.P. Morgan’s global head of macro quantitative and derivatives strategy, Marko Kolanovic, says most of the recent moves in stocks and bond yields have been driven by technical flows, algorithmic selling and poor liquidity, not fundamentals.
He’s predicting an enduring comeback. [GEE! WHAT A SURPRISE from a J.P. Morgan guy–but bring it on–gold went up with stocks also, remember?]
-END-
Ipso-Buygold-Oro–Good stuff from Murph tonight=Labor Day is less than 2 weeks away and that typically kicks off a seasonally bullish time
James Mc just in with some timely input…
Rumbling elephants back at it
Bill,
Yesterday:
“The last 3 months have signaled a big change behind the scenes. We await the next rumbling of the Crimex elephants.” (END)
We didn’t have to wait long for that rumbling. The snapback rally in silver, which for the past 7 years was unheard of, is now becoming routine trading. Also becoming routine is the relentless recapturing of big round numbers, in this case $1500 and $17.
We’re slowly but surely inching closer to another major breakout. These support levels are getting harder and harder to break down. This time around any rate cuts and QE will be MUCH friendlier than in the past. As they say there’s been a lot of water flow under this cartel bridge, and it is filled with gold dust from an eternity of suppression schemes.
The precious metals derivatives are acting like physical is on fumes. Whether it is partially Deutsche related, or otherwise, the fact is buyers are increasingly getting aggressive, and why not? These prices will look cheap after $1550 and $17.60 are convincingly taken out. Labor Day is less than 2 weeks away and that typically kicks off a seasonally bullish time. There would be no better kickoff to the season than to have Sep. silver option expiration go off well north of $17 a week from today. One thing for sure is the “malevolent force” we’ve come to know and loathe is currently getting met head on by a benevolent force- whoever the hell that may be.
James Mc
Terrific input by James, as always.
Couldn’t agree more that $1550 and $17.60 are going to look cheap before the end of the year, which is why this commentary from another financial big shot stands out:
Buy Gold ‘At Any Level,’ Mobius Says as Central Bankers Ease
********************************************************************
As always, from my position, the surprise is going to be how far and how fast gold and silver move to the upside.
Back to silver. Today’s strength in silver most unusual, especially following the new buying yesterday on the dip. Silver is now close to blowing through pivotal $17.20. Our good friends James Turk and J Johnson have been talking about option activity in the silver market, which might be particularly bullish, rather than bearish as it has been for so many years.
As James Mc noted, the September silver option expiration is a week from today. Both of our friends have speculated about the potential possibility of a silver price surge due to the option writers being forced to cover rather than rake in the premium dough as they ALWAYS do.
Virtually no one in the precious metals world is looking for such an occurrence. What a sight that would be if it kicks in. Generally, for this to be the case, it has to involve some very strong hands that will be buying up all the physical silver they can over the coming days. The physical market needs to be as strong as can be to force the JPM crowd to retreat or cover some positions. Fingers crossed!
The gold/silver ratio fell to 87.75.
Buygold @ 14:24
Now that the HUI has dumped it’s overbought situation we’re free to go higher. A few months more of days like this and I’ll be breathing easier. 🙂
PIMCO’s worried about. rising. rates…so I’ll have to reconsider my view that. rising rates might. be a great contrary play
In July 1981 the. Fed Funds rate peaked at. 19%-In July 1982–the rates had dropped to 10.6%–THAT’s why stocks started their historic run=because. rates were falling….the DOW bottomed in 1974. at what? About 500? within a rising rate environment, stocks clawed their. way up to the old high [1968] of 1000 DOW & exceeded that in 1982 and it was off to the races…
So with. stocks highly overvalued and at historic peaks…are we to believe that. stocks will explode upwards WITH rising rates…Wolanchuk says they will…I think Wollie may be off on this one…unless the inflation in paper spreads to tangibles and, like Volker, the FED has to raise rates to extinguish inflationary fires…
https://www.macrotrends.net/2015/fed-funds-rate-historical-chart
usdx
there’s a five year pattern forming in the dollar index that’s suggestive of a head and shoulders top. the neckline isn’t flat, the shoulders aren’t symmetrical, but if it plays out anything like a h&s top, it’s a big’un!
Shares are looking good
Time for them to finally lead the charge?
Today almost feels like a stealth rally. Sort of unexpectedly strong.
OT
‘We are dropping like flies.’ Ex-fighter pilots push for earlier cancer screenings
WASHINGTON — Former Air Force and Navy fighter pilots are calling on the military to begin cancer screenings for aviators as young as 30 because of an increase in deaths from the disease that they suspect may be tied to radiation emitted in the cockpit.
“We are dropping like flies in our 50s from aggressive cancers,” said retired Air Force Col. Eric Nelson, a former F-15E Strike Eagle weapons officer. He cited prostate and esophageal cancers, lymphoma, and glioblastomas that have struck fellow pilots he knew, commanded or flew with.
dollar index
$lip-$liding away…
Richard640 @ 12:15
re: Mobius I hadn’t realized that … interesting! 🙂
We’re starting to have a decent day … knock etc
HUI’s goin nutz today-up 5.63 [2.57%]
https://finance.yahoo.com/quote/%5EHUI?ltr=1
Lotsa gold friendly pundits calling for a. big correction—or. saying if we. go up for another few weeks THEN. a big correction…Even I committed the sacriledge of buying DUST for a hedge/trade…and I must. say the Bad guys have really. been aggressive lately…but the “correction pundits”. have been with us all the way. up…
I dipped my beak this a.m.—just in case…the $ has rolled over and they’re buying bonds…yesterdays big hit to gold had the pm shares/etfs very resilient–…so maybe the big surprise will be gold breaking to a new high…we got the FED on wed. & Jackson hole on friday…think they’re gonna raise rates?
fifteen and seventeen
again.
Sounds like a bell tinkling
PIMCO Starts Dumping Bonds, Fears “Helicopter Money” Around The Corner
just a little follow up on oil and gush ( A DEAD CAT BOUNCE), now back to Gold dont get distracted
uwt has a small buy signal
$gsx ” ”
$bcomen ”
It looks like a Dead Cat bounce ! off the bottom…..energy-oil-crude I still think its a Political Deal
until the election is over ,and the trouble makers oil producers go broke or are thrown out of office its not going to change…taking their revenue away is better than fighting a War with them …US can control internal prices…and stay profitable just above break even..
Buy Gold ‘At Any Level,’ Mobius Says as Central Bankers Ease
Veteran investor Mark Mobius gave a blanket endorsement to buying gold, saying accumulating bullion will reap long-term rewards as leading central banks loosen monetary policy and the rise of cryptocurrencies serves only to reinforce demand for genuinely hard assets. Prices climbed.
“Gold’s long-term prospect is up, up and up, and the reason why I say that is money supply is up, up and up,” Mobius, who set up Mobius Capital Partners LLP last year after three decades at Franklin Templeton Investments, told Bloomberg TV. He added: “I think you have to be buying at any level, frankly.”
This is what I mean about CDE–I don’t get it but I don’t much care why…
4.9200-0.0300 (-0.61%)
At close: August 19 4:03PM EDT
5.0200 +0.11 (2.24%)
Pre-Market: 8:38AM EDT
NVO.V==for real? A bonanza or a scam? I think it might be a scam
Goldfinger: Let’s turn to the junior mining sector. Novo Resources continues to have a tough time trying to get any traction past this $2.00-$2.50 range it’s been trading in for a while. They put out an NR on Egina recently, what are your thoughts on that?
Bob Moriarty: We have to take a step back a little bit to understand what’s going on with Novo. The hard rock project Novo has at Karratha is one of the most difficult projects to figure out of any project i’ve ever heard of because it’s very nuggety gold in a hard rock environment. The alluvial project at Egina is also quite tricky because for ten months of the year you have no water whatsoever, which makes processing very difficult. You’ve got very nuggety gold so it’s very hard to measure just like Karratha. However, it’s right at surface and i’ve seen areas where it’s 10 meters by 10 meters and they pulled out 10 ounces in total nuggets from that area over a three hour period using a metal detector. Some of what exists at Egina is so special that i’ve never seen or heard of anything like it anywhere else in the world.
Novo is going in and trying to use modern technology to try to figure out these puzzles at Egina and Karratha. They’re using ground penetrating radar and they’re finding out where the ultra-rich zones are should be. At Egina they have something like 1,000 square kilometers, much of which has alluvial potential. The biggest problem Novo has right now is dealing with the government bureaucracy and sorting the native title issues. Quite bluntly there are some areas of Australia that are extremely difficult to work in. Karratha is one of them. Novo is on track and they’re doing a good job, they’re finding gold and they will be producing gold. I think Novo is going to be one of the great success stories in the mining sector over the coming years.
Eeos–Ororeef–I agree on all your points–CDE is also a mystery…
who. the. hell kept buying it yesterday?-it. was down. 6 cents and silver was down 28…also, how did it get to $15 a share in 2016…I made a lot of money offa my CDE calls…if. silver goes to 18 or 20 or 25. will CDE perform like. in 2016?? I think I lucked out…I doubt zI’d mess with it now…
