- The following is the full text of an open letter from John Felderhof, former vice-president of exploration with Bre-X Minerals, after his acquittal on four charges of illegal insider trading and four charges of misleading disclosure under the Ontario Securities Act. The charges stemmed from the multibillion-dollar salting fraud perpetrated on core samples taken from Bre-X's Busang gold property...Read More
The former vice-president of exploration at Bre-X Minerals, John Felderhof, has been acquitted of four charges of insider trading and four of misleading disclosure in connection with the 1997 Busang salting fraud in East Kalimantan, Indonesia.The Ontario Securities Commission (OSC) had brought the charges against Felderhof, alleging that he made $84 million in sales of Bre-X stock while in possess...Read More
It's all systems go for gold investors. The bullion market is stirring from a multiyear slumber and looks set to enter a sustained rally, experts say. Double-digit increases within the next 18 months may be only the start of the price surge. "[W]e believe there is a very good chance that this marks the beginning of a new gold bull market," says gold market veteran Joe Foster, portfolio manager f...Read More
Gold investors should love presidential hopeful Elizabeth Warren. Her plan to lower the value of the dollar will likely cause inflation, capital flight, and a currency war -- any of which have the potential to boost gold prices. And if all happen together, then bullion will do even better. If Warren eventually gets elected to the White House and then enacts that policy, investors should consid...Read More
The gold bugs have still not thrown in the towel, despite bullion being a disappointing performer for a couple of months now. And that's not a good sign from a contrarian point of view. To review: From a mid-February high of $1,354, spot gold fell last week to as low as $1,272 -- a 6% drop in less than three months' time. Despite this sizeable decline, the short-term gold timers I monitor are, o...Read More
Well, look who's back in town. John Bernard Felderhof, former vice-chairman of Bre-X Minerals, was spotted in Toronto in mid-March, accompanied by his lawyer, Joseph Groia. The pair were walking into the Ontario Securities Commission's offices to take in oft-delayed proceedings relating to allegations Felderhof violated Ontario's securities law eight times.A Canadian citizen, Felderhof has discree...Read More
Forget about predicting what will happen in a stock market downturn. Short-seller Chris Irons, founder of Quoth the Raven Research, said it's time to consider shorting the whole American economic and free market system. For Irons, gold is the best bet for long-term. "If you don't want to take it from me, take it from the central government," Irons said at a Kase Learning short-selling event in N...Read More
U.S. stocks have endured some "interesting" trading over the last couple of quarters. The broad market sold off hard in the final three months of 2018, only to rally just about as hard in the first three months of 2019. But not all asset classes have had such an abrupt regime change. Take gold, for instance. While the S&P 500 zig-zagged hard during the past two quarters, ending up about 0.72% lo...Read More
They're back! Investors piled billions of dollars into specialized commodities funds in the first quarter after going cold on the sector last year, according to new data. Such funds include the SPDR Gold Shares (GLD - Get Report) ETF, which owns bars of solid bullion, as well as many others including the United States Oil (USO - Get Report) which tracks the price of crude oil. The sudden switch...Read More
As the threat of a trade war with China cast a shadow over Wall Street early Wednesday, April 4, the price of gold, which is considered a safe-haven asset, jumped. In morning trading Wednesday, gold futures for June delivery gained 0.72% to $1,346.90 per troy ounce. At the same time, the SPDR Gold Shares ETF (GLD) rose 0.77% to $127.27. The spike in gold prices Wednesday morning came in conjun...Read More
Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average closed higher Monday despite a big decline in Boeing (BA) shares after the deadly crash of a 737 MAX 8 jet over the weekend. Nvidia (NVDA) will buy Israel's Mellanox Technologies (MLNX) for around $7 billion, outbidding chipmaking rival Intel (INTC) for the cloud computing semiconductor specialist....Read More
Geopolitical uncertainty is helping to support gold prices, but an impending rate hike in less than two weeks could finally take its toll on the market, with some analysts expecting gold prices to test support below $1,300 an ounce in the near-term. The gold market closed its second week in relatively neutral territory, within a narrowing trading range. April gold futures last traded at $1,329 a...Read More
Good Morning Rewind Friends! You're no doubt feeling a little more exhausted than usual this morning. That's because we're all springing forward with daylight savings time. Did you know that the biannual tradition celebrates 100 years, this year? Daylight Savings Time, What You Need to Know Established in the U.S. in 1918Established to save energy, but time-skeptics say that is no longer...Read More
Wobbly stock prices are sending many panicked people running scared for gold, sending prices for the yellow metal soaring. Savvy investors should follow suit. The World Gold Council recently reported that investors sank $3.1 billion into gold-backed exchange-traded funds for the second month in a row during January. That's the fourth consecutive month of net inflows for gold ETFs, with the ove...Read More
Not many asset classes performed well in 2018, but gold managed to escape with only about a 1% loss -- and the charts tell me it could shine even more brightly in 2019. After all, a 1% drop for 2018 was actually pretty decent considering the fact that gold had a massive swoon over the summer, down more than 10% at one point. And remember that many other asset classes did even worse....Read More
Gold miners are continuing to glitter in 2019, as U.S. stocks fade early in Tuesday's trading session. After opening higher for a third straight session, the big S&P 500 index is reversing course as the trading day progresses, cooling off as investors hope for a rebound following the worst year for stocks since the financial crisis of 2008. With investor uncertainty abounding in 2019, one of the...Read More
In any type of commercial geological investigation, it is always important to know "who" and "what" has gone before. In most cases, this is perceived as reviewing the company, corporate or agency files and doing a quick check of previously published material. All too often a company finds out later (that is, after investing large sums of money to acquire "new" data or information, or after the com...Read More
As the broad market continues to ride its best year-to-date performance in more than two decades, investors who haven't been paying close attention may be surprised to discover that 2019 has also been a stellar year for gold. While gold isn't having quite the historic run that we're seeing in equities so far this year, it's not for lack of performance - metal prices simply surged higher faster,...Read More
SASKATOON — Shares of Nutrien Ltd., the company created by the merger of Agrium Inc. and Potash Corp. of Saskatchewan Inc., started trading on the Toronto and New York Stock Exchanges today.The company traded under the ticker symbol NTR.The merger saw shareholders receive 0.40 Nutrien shares for each common share of PotashCorp they owned and 2.23 Nutrien shares for each Agrium share they own...Read More
MONTREAL — Canadian initial public offerings rebounded last year from their worst performance in nearly two decades in 2016 as $5.1 billion in proceeds were generated with the prospect for a strong 2018, says Pricewaterhouse Coopers.There were 38 issues from Canadian companies or companies listing on Canadian exchanges in 2017.That included 13 in the fourth quarter, which raised a total of $...Read More