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Gold & Precious Metals

Huge Decline In Peru’s Silver Production Suggests Future Supply At Risk

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Posted by Steve St. Angelo - SRSrocco Report

on Wednesday, 19 April 2017 07:00

The Peru Ministry of Energy and Mining just released their silver production data for February, and it was a whopper to the downside.  Actually, I was quite surprised to see how much Peru’s silver production declined versus the same month last year.  Also, Peru’s gold February production took a similar big hit.

According to the Peru Ministry of Energy and Mining data, the country’s silver production fell 12% to 323.1 metric tons (mt) this February versus 367.4 mt the same month last year:

Peru-Silver-Production-Feb-2017

This is a 44 mt decline in one month, nearly 1.5 million oz lost.  Here is the table from the Peru Ministry of Energy and Mining showing various metals production data for February:



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Gold & Precious Metals

Gold: Major Bull Wedge Breakout?

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Posted by Stewart Thomson - Graceland Updates

on Tuesday, 18 April 2017 06:48

2017apr18gold2

 

"Double-click to enlarge what I believe is the greatest bull wedge chart pattern in the history of global markets."

Apr 18, 2017

  1. After surging towards $1300, gold is taking a well-deserved short term rest. Can the rally continue?
  2. Geopolitics news has gotten most of the credit for this rally, but Indian dealers have been buying huge amounts of gold in preparation for the April 28 wedding season Akha Teej celebrations.
  3. Over the past two months, that’s where most of the demand has come from. Western analysts and investors often forget that Indian buyers follow Western news very closely. In fact, I would argue that India’s top gold traders are more in tune with gold-related news in the West than many Western analysts.  
  4. For example, gold surged higher on the night Donald Trump was elected because Indians bought gold maniacally when they realized Trump was going to win.  
  5. Their frenzied buying took gold to about $1340 that night. It continued until the Modi government stunned the buyers with a cash notes call-in.
  6. The latest surge in Indian dealer buying appears to have peaked last week, but there are more key events that sit dead ahead in the Western news pipeline. 
  7. That could mean there will be no more than a short and sweet pause in both Indian and bank FOREX trader demand for gold.
  8. Please  click here now. Double-click to enlarge this fabulous “Uptrend of Champions” gold chart.


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Gold & Precious Metals

SWOT Analysis: Gold Moves on Safe-Haven Demand

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Posted by Frank Holmes - US Global Investors

on Monday, 17 April 2017 07:44

Strengths

  • The best performing precious metal for the holiday-shortened week was silver, up 3.01 percent, followed by gold, up 2.66 percent as geopolitical risks surrounding Syria and North Korea sparked demand for haven assets. Gold settled above its 200-day average for the first time since November, reports Bloomberg.

4-17fh

  • Indian gold imports surged nearly seven-fold, or 582 percent, in March from a year earlier, reports Bloomberg.  Jewelers stocked up on the yellow metal in anticipation of a demand recovery during the wedding season that began this month, with shipments advancing to 120.8 metric tons since last year, the article continues.
  • The U.K. Royal Mint’s gold sales jumped 20 percent during the first quarter of the year, reports Bloomberg, following month-on-month declines in January and February. In volume terms, March sales jumped 263 percent, while gold sold and stored by the mint under its Signature Gold program—which allows partial ownership of bars held in its vault—jumped 178 percent in March.

Weaknesses



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Gold & Precious Metals

Chris Vermeullen – Gold Look Strong, but is it Strong Enough?

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Posted by Chris Vermeulen - The Gold & Oil Report

on Wednesday, 12 April 2017 19:08

Chris Vermeullen, one of the savviest market technicians around, is bullish about gold, but not too bullish this time. He’s seen this pattern many times before. Last week it broke the $1260 resistance point intra-day, only to retreat back before the close. Today, it’s over $1270, but will lose momentum once again? While the long term chart is bullish, he believes that gold will truly shine in the 2nd half of the year.

The stock market is due for a breather and this may very well be the time. Oil is poised to go higher. The VIX while shooting higher will pull back shortly and provide and excellent short. Much more here in this interview. Don’t be fooled by the headlines.

Larger Chart

Screen Shot 2017-04-12 at 6.46.30 PM



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Gold & Precious Metals

This Will Immediately Signal That Gold Is About To Spike To $1,700

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Posted by King World News

on Wednesday, 12 April 2017 07:26

King-World-News-Paul-Brodsky-Just-Exposed-Why-Gold-Is-About-To-Reverse-Along-With-Equity-And-Credit-Markets-864x400 cWith the gold and silver surging $20 and 40 cents respectively, today King World News is pleased to present an important update on the war in the gold market from Michael Oliver at MSA. Oliver allowed KWN exclusively to share this key report with our global audience.

Annual momentum turned positive in February 2016 (circled).  The post-breakout surge halted at levels that didn’t mean anything to momentum.

...continue reading HERE

...also from KingWorldNews:

We Are Seeing Historic Moves In The Gold Market

 

 



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