Gold stocks Articles

XAU/USD technical analysis: Gold in a major downside correction

Jan 21, 2019 09:40 / Staff reporter

Gold price started a major downside correction from well above the $1,295 level against the US Dollar. The price declined and broke the $1,292 and $1,290 and $1,285 support levels on FXOpen. During the decline, there was a break below a major bullish trend line with support at $1,291 on the hourly chart. Finally, there was a close below the $1,285 support and the 50 hourly simple moving average....Read More

Gold weakens to 2-week lows, slips below $1280 level

Jan 21, 2019 09:22 / Haresh Menghani

   •  The risk-on mood/positive US bond yields exert some fresh downward pressure.   •  A subdued USD price action fails to lend any support or ease the bearish pressure.   •  Absent relevant economic releases might continue to prompt some technical selling. Gold remained under some selling pressure for the third consecutive session and h...Read More

Ride The Wave Of Consolidation In The Gold Sector

Jan. 21, 20198:49 AM / SomaBull

The gold mining sector is a highly fragmented industry but is now seeing some aggressive consolidation among the large cap names.In a public market that has massive market caps, the gold miners run the risk of becoming irrelevant.Barrick and Newmont/Goldcorp have lit a pathway and many others will follow, whether they want to or not.It might be worth owning some GG shares for the short term, but I...Read More

AAII Bears Just Hit a 6-Year Extreme

Jan 21, 2019 7:51 AM / Bernie Schaeffer

The 10-week moving average of bearish sentiment just revisited November 2012 territoryWhile the stock market has shown some serious strength in the process of snapping back from the Christmas Eve closing lows, the collective mood among investors and consumers has been somewhat less resilient. On Friday -- as the S&P 500 Index (SPX) was in the process of collecting a second consecutive close back a...Read More

Barrick mulls selling Zambia copper mine over higher taxes

Jan. 21, 2019, 6:13 AM / Cecilia Jamasmie

Gold giant Barrick (TSX:ABX)(NYSE:GOLD) said Monday that while it continues to engage with the Zambian government and community stakeholders about a mutually-beneficial way forward for its Lumwana copper mine, it would consider selling the operation given the "challenging conditions" it's facing.Barrick said finding a win-win solution between the industry and government would increase investor con...Read More

Gold Technical Analysis: trendline support exposed after range breakdown

Jan 21, 2019 05:22 / Omkar Godbole

Gold is currently trading largely unchanged on the day at $1,282. The yellow metal fell by $12 or 0.8 percent on Friday, confirming a downside break of the two-week long narrowing price range. An extended period of consolidation is often followed by a big move in the direction of the breakout. As a result, gold could soon drop to the support of the trendline connecting the Nov. 13 and Nov. 28 low...Read More

Australia's MOD rebuffs Sandfire's $63m takeover bid, but willing to negotiate

Jan. 21, 2019, 3:00 AM / Cecilia Jamasmie

Australian copper junior MOD Resources (LON:MOD) rejected on Monday fellow rival Sandfire Resources' (ASX:SFR) A$88 million ($63m) all-share takeover offer saying it undervalued the firm and its assets.The exploration and development company, which focuses on copper projects in the central and western Kalahari Copper Belt in Botswana, noted it was willing to engage with its suitor if it came back...Read More

Highland Gold lifts 2019 forecast

Jan 21, 2019 2:52 a.m. / Oliver Griffin

Highland Gold Mining Ltd.'s (HGM.LN) 2018 gold production was within guidance despite lower output from its Novoshirokinskoye mine in Russia, the company said Monday as it raised its forecast for the current year. The miner said it produced 269,500 ounces of gold and gold equivalent for the year, down 1% from 2017 production levels of 272,274 ounces. Highland had forecast 2018 gold production in t...Read More

Gold Holding Key Level, Commodities Are Positive And The Dollar Is Negative

Jan. 21, 20191:48 AM / Richard Suttmeier

The Gold Trust ETF has a positive but overbought weekly chart and is above my semiannual pivot at $120.36.The commodities ETF has clawed out of bear market territory and now has a positive weekly chart but below its quarterly pivot at $15.60.The long dollar ETF remains above its "reversion to the mean" at $25.01 with its annual pivot at $25.47.Here are the weekly charts for the gold, commodities a...Read More

Billionaire Sam Zell Buys Gold: Right Move, Wrong Reason

Jan 21, 2019 01:40 / Staff reporter

Investment guru Sam Zell is buying gold for the first time. Zell claims "Supply is shrinking." Please consider Billionaire Sam Zell Buys Gold for First Time in Bet on Tight Supply. Gold’s dimming supply prospects have caught the eye of one billionaire. “For the first time in my life, I bought gold because it is a good hedge,” Sam Zell, the founder of Equity Group...Read More

Interview: Precious Metals Still in Downtrend but Downside Limited

21, January 2019 / The Korelin Economics Report

Jordan Roy-Byrne, Founder of The Daily Gold breaks down the gold and GDX charts. Although this recent bounce is dissipating it has taken the metal up to the higher part of is trend. Unfortunately this trend is still a downtrend but the downside is limited. Jordan shares some key levels to watch.Jordan Roy-Byrne, CMT is a Chartered Market Technician and member of the Market Technicians Association....Read More

The SUPER BLOOD WOLF MOON ECLIPSE and the Markets...

Monday, 21 January2019 / Clive Maund

Having watched Van Helsing I thought "There must be a way to work this stuff into chart analysis" and there is, for tomorrow night there is a "Super Blood Wolf Moon Eclipse" which might synchronize with a reversal in the markets. Before you burst out laughing, I point out that it is an established fact that reversals in the Precious Metals often synchronize with full and new moons, and whether th...Read More

Technical Scoop - Weekend Update January 21 2019

Monday, 21 January2019 / Staff reporter

TECHNICAL SCOOPCharts and commentary by David ChapmanChief Strategist, Enriched Investing Inc.Phone: 416-523-5454 Email: david@davidchapman.comdchapman@enrichedinvesting.comTwitter: @Davcha12January 21, 2019Sometimes the best investments are the ones you don't make Donald Trump, 45th U.S. president, real estate mogul, entrepreneur, b. 1946, Trump: How to Get Rich (2004) The whole problem with t...Read More

Semiconductor Sector: Watch the Early Bird in 2019

Monday, 21 January2019 / gary tanashian

By Gary TanashianAs in January of 2013 (ahead of an economic up cycle) and Q4 2017-Q1 2018 (ahead of an economic ripple that began in 2018) the Semiconductor sector and in particular its Semi Equipment sub-sector are front and center in forming our analysis about coming events. Excerpted from the January 20th edition of Notes From the Rabbit Hole, NFTRH 535Semiconductor Sector Watch the Early Bi...Read More

Bull in the China Shop

Monday, 21 January2019 / john mauldin

By John MauldinDemand Pulled ForwardJob JittersCredit IntensityRushing the ProcessAn Insane Travel ScheduleThe production of souls is more important than the production of tanks.... And therefore I raise my glass to you, writers, the engineers of the human soul.Joseph Stalin, 1932[Our purpose is] to ensure that literature and art fit well into the whole revolutionary machine as a component part,...Read More

No, Barron's, the gold supply can be and has been increased much -- with imaginary metal

Monday, 21 January2019 / Chris Powell

Dear Friend of GATA and Gold:Barron's this week has a surprisingly favorable report about the prospects for the gold price and gold miners in light of the recent Newmont-Goldcorp and Barrick-Randgold combinations. But the report repeats without question the worst misinformation about the gold price, quoting a fund manager as saying gold is attractive because "it's an alternative currency whose su...Read More

Gold Stocks Remain in a Downtrend

Monday, 21 January2019 / jordan roy-byrne cmt, mfta

By Jordan Roy-Byrne CMT, MFTA Last week we discussed the difference between a rally and bull market. Gold stocks have been in a rally. That rally is now over as gold stocks peaked at their 400-day moving averages days ago and sliced through their 200-day moving averages Friday. Take a look at the charts of any gold stock index (GDX, GDXJ, HUI) and it's clear they are in a downtrend. Go back tw...Read More

U.S. SHALE OIL INDUSTRY: Not In The Business To Make Money, But To Take Money

Monday, 21 January2019 / steve st. angelo

By Steve St. AngeloThe U.S. Shale Oil Industry has been a financial trainwreck since day one. And, with nearly $300 billion in public and private debt racked up by the shale industry since its inception, that hasn't stopped investors from throwing good money after bad to continue the biggest energy Ponzi scheme in history.Unfortunately, the worst is still yet to come because the industry hasn't...Read More

Brexit, EU, Germany, China and Yellow Vests In 2019 Something Wicked This Way Comes

Monday, 21 January2019 / john mauldin via thoughts from the frontline

Something wicked this way comes warns John Mauldin Shaky China: Chinese landing could be harder than expected Brexit and EU Breakage: I have long thought the EU will eventually fall apart Helpless Europe: If Germany sneezes, their banks & the rest of continent catches cold We may see yellow vests spread globally: Economics is about to get interesting by John Mauldin via Thoughts from the Frontli...Read More