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Wednesday
Nov302016

Gold and the Italian Vote

Background

Gold prices are getting pummeled on a daily basis and appear to be coming down as fast as they went up.

First we had Brexit which resulted in both the Euro and the British Pound getting sold off hard. When these two currencies lose value the US Dollar is forced to go higher as per The US Dollar Index. As gold has an inverse relationship to the dollar then gold’s value tends to fall in dollar terms.

The election of Donald Trump also appears to good for the dollar as the expectation is that the re-building of the infrastructure, in all its forms, will give the economy a boost and so investment funds start to flow into the US.

Referendum in Italy

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Monday
Nov282016

The Carnage in the Gold Sector Could Be Over

Background

The gold and silver producers made a blistering start to the year; however, the second half of the year has been a totally different story. The chart below depicts the rise and fall of the gold producers which make up the Gold Bugs Index the HUI. This Index has now fallen 60% from its recent high of 282 which suggests to us that the selling pressure should be just about exhausted. Overall the HUI remains some 72.2% off its high (630-175) made in 2011, so there is plenty of room for the stocks to rise once gold resumes its bull market.


The chart shows that a Cross of Death

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Thursday
Nov242016

Barrick Gold mulls Kalgoorlie bid of roughly $1.3 billion by China’s Minjar: sources

Barrick Gold is reviewing the financial backing behind an approximately $1.3 billion bid for its stake in Australia’s Kalgoorlie mine by Minjar Gold, a unit of Shanghai-listed Shandong Tyan Home , two sources told Reuters.

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Sunday
Nov132016

Marine Le Pen, Beppe Grillo, Geert Wilders, Frauke Petry: has their big moment arrived? 

With elections due across Europe and a referendum in Italy, the establishment fears political tremors

Dogged by the migration crisis and the traumatic business of Brexit – to name just two current, existential challenges to their project –

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Thursday
Nov102016

Gold's White Knuckle Ride Continues

 

A surprise result as Donald Trump wins the presidential race.

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Thursday
Nov102016

Trump Is Not Seeking Yellen's Resignation, But Won't Nominate Her For A Second Term

Donald Trump

As we reported first thing this morning, one of the burning questions troubling Wall Street at this moment, is whether president elect Donald Trump plans on reshuffling the Fed, eliminating its so-called "independent" and perhaps going so far as firing or "requesting" Janet Yellen's resignation. 

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Monday
Nov072016

Former Soros Associate Just Warned This Is Going To Send The World Into Total Chaos

As investors await the outcome of tomorrow’s election, a former associate of George Soros just warned King World News about what is going “to send the world into total chaos.”

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Sunday
Oct302016

Gold: Rate Hikes and the US Presidential Election

Background

The next ten days or so will present gold with two major events both of which could impact on gold in different ways depending on their particular outcome and they are as follows:

1. Possible interest rate hikes in the US as the FOMC meet

2. The US Presidential Election

FOMC

The long shadow of interest rate hikes in the US has haunted the precious metals sector for the last two years and is possibly the most important single threat to gold continuing its rally.

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Thursday
Oct272016

Legend Says This Will Translate Into A $100 Spike In Gold Overnight

John Ing

The $100 Overnight Gold Spike


Mr. Trump blames the Fed for creating a “false stock market”, believing that the low interest rate policies engineered by the Fed has not revived real growth but instead created a “false economy”

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Wednesday
Oct192016

Gold Miners: The Lull before the Calm before the Storm

Politics

As the final presidential debate looms one wonders if we will hear anything of substance or be subjected to a continuous barrage of ‘soap opera’ style chit chat. Hilary Clinton’s lead is increasing according to the bookies with the latest odds at 1/5 and Donald Trump at 9/2. The sooner this is over the better for all of us as the uncertainty will have been removed and we can get back to business as usual. Whatever the result both candidates are big spenders and so we can expect many more dollars to be printed which will help support gold in dollar terms. However we should also be cognoscente of the fact that the other major currencies are all in dire straits, the Yen, Euro and British pound are all looking weak, which in turn is supportive of the dollar, rendering the dollar as the best looking horse in the glue factory, as they say.

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