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Gold & Precious Metals

Gold Stocks Blastoff

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Posted by Morris Hubbartt - Super Force Signals

on Friday, 01 September 2017 06:39

Today's videos and charts (double click to enlarge):
 

SFS Key Charts & Video Update

Screen Shot 2017-09-01 at 7.05.46 AM



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Gold & Precious Metals

Why Gold's Surge Beckons Caution

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Posted by Rick Ackerman - Rick's Picks

on Wednesday, 30 August 2017 06:43

Kim-Jong-Un-sane-rally-should

With a sharp lurch higher, December Gold has broken above the 1301.20 resistance I’d flagged as crucial to the intermediate-to-long-term outlook.  The rally is encouraging, but we should remain cautious for two reasons:

For one, the move was catalyzed by news that Kim Jong Un-sane had fired a missile over Japan. As someone pointed out in the Rick’s Picks chat room on Tuesday, however, traders who have faded market moves caused by seemingly shocking news have only made money.  Indeed, every geopolitical crisis in memory, including the bombing of Pearl Harbor and the Cuban missile showdown turned out to have been a great opportunity to buy stocks at relative bargain prices.  Indeed, DaBoyz used these crises and countless others to shake down shares so that they could by more of them at bargain prices. This was clearly the case here. On Sunday evening, index futures plummeted on news of Kim’s brazen aggression.  But Wall Street, cynical as ever, treated the short-lived panic as a fire sale. The result was that, by the end of Tuesday’s session, traders had reversed a 134-point selloff on the opening to close the Dow up 57 points — a 190-point reversal.

The second reason we should treat gold’s ‘breakout’ cautiously is that it is still well shy of election night’s watershed top at 1353.00. Until such time as that high is exceeded, the 1462.70 rally target given here earlier will in my estimation be more theoretical than probable. For now, caveat emptor. I

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Why Gold's Surge Beckons Caution



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Gold & Precious Metals

Debt Endgame & Gold Bull Era

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Posted by Stewart Thomson - Graceland Updates

on Tuesday, 29 August 2017 06:33

Aug 29, 2017

  1. SPDR fund tonnage (GLD-NYSE) has recaptured the 800 ton mark, and rose to 814 yesterday. This is happening as a steady wave of institutional money managers embrace gold as an important portfolio component. 
  2. It’s also occurring as Indian dealers begin buying for Diwali. The result of this overall ramp-up in demand is a beautiful surge higher in the gold price!
  3. Please  click here now. Double-click to enlarge this important gold chart. I call this my “Road To $1392” chart. 
  4. When the price of an asset arrives at major resistance in a huge chart pattern, a real upside breakout and sustained move higher can only occur if market fundamentals are aligned with the technical set-up.
  5. The good news is that for gold, this appears to be the case. Please  click here now. Double-click to enlarge this monthly gold chart. The $1377 - $1392 price range is the resistance zone of a huge inverse head and shoulders bottom pattern. It is the neckline of the pattern.
  6. Note the tremendous rise in volume that is occurring as gold makes a beeline to that neckline. The Indian gold market has completed its restructuring, and Western money managers are lining up to add gold to their portfolios.
  7. The managers are not just making a one-time purchase. They are adding gold as a percentage allocation. That allocation seems to be averaging around 5%. As the funds gather new assets, they buy more gold to maintain that 5% allocation.
  8. Asian fund managers typically give gold an even higher allocation to gold in their funds than Western managers. As China and India become the main economic empires, Western money managers will tend to play “follow the Chindian leader”. 
  9. That means the current Western money manager allocation to gold that is about 5% could easily rise to 10% or 15% in the coming years.Clearly, all liquidity flow lights for gold…are green!
  10. My weekly chart roadmap suggests that gold will rise not just to $1392, but to $1526, and $1800. Importantly, the rise will be accompanied by substantial growth in respect for gold as an asset class. 
  11. There’s a huge difference in a rally based on an event like QE and a rally based on a permanent portfolio commitment to the asset class. The latter produces price gains that are sustained.
  12. Please  click here now. Double-click to enlarge this important dollar versus yen chart. The 108 “line in the sand” seems ready to fail. A tumble towards 100 would almost guarantee that gold surges to $1392 and begins the move towards $1526.


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Gold & Precious Metals

SWOT Analysis: Gold Reacts to Jackson Hole

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Posted by Frank Holmes - US Global Investors

on Monday, 28 August 2017 06:58

Strengths

 

  • The best performing precious metal for the week was gold, closely followed by silver, up in tandem 0.56 percent and 0.47 percent, respectively, after a see-saw week in price action for the metals.  Prices have been choppy over the last seven trading sessions but have held onto recent gains.
  • As reported by ZeroHedge, the price of gold started moving up on Friday after Dallas Federal Reserve Bank President Robert Kaplan spoke on Bloomberg TV. Kaplan, who shared his thoughts ahead of Janet Yellen’s speech, said that a market correction wouldn’t necessarily hurt the economy, but instead could be healthy. The dollar also headed lower Friday after Yellen’s speech that left the possibility of a rate hike up to interpretation.
  • Some investors have been pulling money from ETFs betting on gold, but hedge funds are flocking to gold, reports the Financial Times. According to the article, buying of gold futures contracts by hedge funds and other speculators has surged a record $19 billion or 474 tonnes over the past month. Analysts say this movement is spurred by concern over “lofty equity market valuations and geopolitical tensions.”  Just prior to Yellen’s speech on Friday, futures contracts representing 2 million ounces of gold crossed hands, keeping the trend alive.

 

Weaknesses

 

  • The worst performing precious metal for the week was platinum, down just 0.44 percent on little price-moving news over the course of the week.
  • Tahoe Resources took another leg down, about 19 percent of Friday, as news from a Guatemalan Constitutional Court issued a decision to uphold the lower court’s preliminary decision to suspend mining at its Escobal Mine. 
  • Gold prices fell lower on Thursday as investors awaited signs on interest rates from the Jackson Hole Economic Summit, along with pressure from a firmer dollar, reports Reuters. Gold failed to break through the top of its $1,200 - $1,300 range in April and June of this year as well, but with the threat from Trump of a government shutdown, there is still underlying support for the yellow metal.

 

Opportunities

 

  • The president of Novo Resources has spent 13 years searching for clues that back a hunch, reports Bloomberg: that the world’s biggest gold resource has lost siblings elsewhere on the planet.  Now Quinton Tood Hennigh thinks he may have found what he has been looking for near Australia’s northwest coast. In July, Novo zeroed in on a gold find that’s confounded geologists and sparked a 500-percent surge in the company’s share price, writes Bloomberg. Hennigh admits he isn’t 100 percent sure that this will turn into a mine, but the potential upside is seen by some as huge.
  • Traders have pushed gold futures to near a nine-month high, reports Bloomberg, but if the history of gold’s relationship with oil is any guide, the surge in the yellow metal could last longer than the flare-up in geopolitical tension. Looking at the chart below, the current price divergence in oil and gold may still be going (meaning gold should continue to outperform oil before the roughly 34-month cycle ends).

 

8-28fh



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Gold & Precious Metals

Are The Metals About To Go Parabolic?

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Posted by Avi Gilburt - Elliottwavetrader.net

on Friday, 25 August 2017 07:33

metals01First published on Sun Aug 20 for members:  With the metals providing us with the pullback we were expecting in our report last weekend (Aug 12-13), they continued to push higher from that pullback.  Moreover, the structure continues to look quite bullish.  However, the only question the market has yet to answer is if we see one more drop before the parabolic rally commences, or if we simply begin to rally strongly from here.

Since the market has not done anything unexpected this past week, I have to note that my overall perspective has not changed.  My main expectation is still looking for a bit more pullback before we are ready to rally through resistance.  Moreover, there is really not much more I am able to provide by way of further analysis to what I have been saying all week:



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