The Dow Jones Industrial Average looks set to open at a all-time high Thursday, and could immediately test the 25,000 point mark following solid gains in Europe and Asia amid a renewed charge in the global equity market rally that continues to test records for high prices and low volatility. Early indications from U.S. equity futures suggest the real possibility of the Dow crossin...Read More
Gold enjoys an increasingly friendly macro environment.Speculators boosted their bullish bets over December 19-26, the CFTC shows.ETF investors were quiet over December 22-29, according to FastMarkets' estimates.My long GLD position is moving for me. Expect further strength in course of 2018. Introduction Welcome to my Gold Weekly. Let me start by wishing you and yours all the best for 2018. I cel...Read More
Victoria Gold develops its Eagle gold mine in Yukon.It should produce almost 200,000 toz gold per year, at AISC below $650/toz, with the first gold pour expected in early 2019.At the current gold price, the after-tax NPV (5%) of the project is around $475 million.The problem is that a notable share dilution seems to be inevitable so as to cover the construction funding gap.Despite the probable sha...Read More
NewGold's Rainy River will change rags to riches.Yukon's gold discovery of 2017.B.C.'s Golden Triangle smoking hot in 2017.Garibaldi soars 3,500% and Jaxon 500%.In my last comments on September 15th, gold (GLD) hit my $1360 target and I was contemplating the possibility of a break above $1375. I believed at that time, the best chance for this was in September/October because after tha...Read More
We made a big bet on biotech exactly one year ago.At the time, it was one of the most unloved sectors on the market. No, the biotech bull never showed its face in 2016.But in early 2017, we witnessed the beginnings of a powerful rally and hopped onboard for a long-term trade. A fast start out of the gate in 2017 was just what the ailing sector needed to spark a massive bull run, we reasoned.Fast f...Read More
Bitcoin briefly topped out above $20,000 in December. Then it hit a rough patch. As I type, bitcoin is trading in the $14,500 range. Many people wonder if this is the beginning of the end for bitcoin.Here's my answer to that: no, it's not. Not by a long shot.Pullbacks like these are normal, healthy, and even necessary. Nothing goes up in a straight line forever. And I still hold firm to my predict...Read More
"In high school," begins our co-founder Bill Bonner, "we learned that anything can be used as money.""In 2017," he continues with wry bewilderment, "bitcoin proved it."But is it true?Is bitcoin now a viable form of money… or merely an asset like a stock, a bond... or a Star Wars action figure?(It has come to our flabbergasted awareness that this 3.75-inch chunk of molded plastic recently sol...Read More
In August 2016, at a rally in support of Hillary Clinton, investing legend Warren Buffett, a billionaire many times over stood on the stage and said:“I ask Donald Trump: ‘Have you no sense of decency, sir?”The last time those exact words were uttered on a national stage was in the spring of 1954 when Boston lawyer Joseph Welch effectively ended the political career of Senator Joe...Read More
CloseGain/LossOn WeekGold $1320.50-$1.40+1.33%Silver$17.20UNCH+1.53%XAU87.39-0.45%+2.49%HUI198.13-0.32%+3.03%GDM661.89-0.20%+1.73%JSE Gold1322.71+17.52+1.47%USD91.97+0.10-0.36%Euro120.42-0.26+0.32%Yen88.43-0.27-0.43%Oil$61.44-$0.57+1.69%10-Year2.477%+0.025+2.74%Bond151.9375-0.375-0.63%Dow25295.87+0.88%+2.33%Nasdaq7136.56+0.83%+3.38%S&P2743.15+0.70%+2.60% The Metals: Gold fell $5.70 to $131...Read More
Gold COT Report - FuturesLarge SpeculatorsCommercialTotalLongShortSpreadingLongShortLongShort241,42878,16060,048155,104332,704456,580470,912Change from Prior Reporting Period 38,83811,5182,405-36527,76640,87841,689Traders17086744552246183 Small Speculators LongShortOpen Interest 44,15129,819500,731 3,3832,57244,261 non reportable positionsChange from the previous reporti...Read More
By Dave Kranzler"This time it's different." That quote is from Sir John Templeton, a legendary investor who is considered the father of the modern mutual fund industry. For most of the month of December, I've been hearing ads from mortgage brokers who are promoting the idea of refinancing your house in order to take care of holiday bills. It reminded of the early 2000's when then Fed Chairman, A...Read More
The gold miners' stocks have huge upside potential in 2018, likely the best among stock-market sectors. They really lagged gold last year, so a major mean-reversion catch-up rally is coming. The gold miners are universally ignored and deeply undervalued relative to the metal which drives their profits. And gold itself is likely to power dramatically higher this year as euphoric record-high...Read More
Gregory Mannarino started his financial career working for the securities and trading arm of the now defunct Bear Stearns before the dot-com bubble. He is an active trader of the capital markets and has published several books pertaining to finance, global economics, and equity trading; His most recent book is titled Ultimate Guide To Money and The Markets (free ebook). Gregory currently hosts a b...Read More
Eric Sprott has more than 40 years of experience in the investment industry. In 1981, he founded Sprott Securities (now called Cormark Securities Inc.), which today is one of Canada's largest independently owned securities firms. In 2001, Eric established Sprott Asset Management Inc. Over the years, Eric has personally been the recipient of numerous awards and honors, including one of Investor Dig...Read More
By Gary TanashianThis morning I noted that I did not appreciate seeing Jeremy Grantham's note dismissed even in the slightest way and without rancor by a Biiwii author. His intro was "Here we go with the "melt-up" meme again.", which I felt was not appropriate for our purposes, coming as it did from a writer who was cautionary all through 2017.Look, I was pretty sure I was going to be wrong abou...Read More
By Steve St. AngeloEnjoy the good times while you can because when the economy BLOWS UP this next time, there is no plan B. Sure, we could see massive monetary printing by Central Banks to continue the madness a bit longer after the market crashes, but this won't be a long-term solution. Rather, the U.S. and global economies will contract to a level we have never experienced before. We are...Read More
By Avi GilburtFirst published on Sunday Dec 31 for members: While I am unable to answer the question in the title of this update definitively, I will show you what the market has to do in order to answer the question in the affirmative. But, first I want to reflect on 2017. We approached 2017 with high expectations that the market would provide us with a strong 3rd wave break out off the 2...Read More
By George SmithI'm sure there will be some shocking events in 2018, but I have no idea what they will be. There are too many wildcards in the mix, with one big one taking center stage: States. The civilized world, such as it was, took a nosedive after the Sarajevo assassinations in 1914 ignited the political tinderbox in Europe. To pay for the massive slaughter that followed, states aban...Read More
BULL MARKET IN GOLD...We are now about to commence a full-fledged bull market in gold and gold mining stocks. The paper manipulation has been the chosen deception but did allow investors to take advantage of opportunities in some gold stocks that were incredibly undervalued and literally being given away at those prices. We expect to see enormous...Read More