Loading ...Brexit and the election disrupted the Gold uptrend that started in Jan 2016. And if you think back, everybody was saying the bond bull mkt was over, rates will be climbing forever, and EVERYBODY was dollar bullish.
Well? They were all wrong. Plain and simple. The 10 year yield peaked at 2.61% Dec 15. Right now, 2.34%
Kind of a working trip, down here for a conference and head back to the tundra.
I’ve been waiting for that Squillionaire acres for a very long time. 🙂
We’re off to a good start again today and the action has been really good for the last week or so. If the boyz take the boot off the neck of NEM and GG the HUI will soar. GG just broke above the 50 DMA a few days ago and may be ready for liftoff. Hope so.
thanks for checking. all is well at treefrog manor, but a little soggy around the edges. we had maybe fifteen minutes of interesting weather as the front was passing through. treetops waving back and forth, enough lightning for a WWI artillery duel, lima bean sized hail – quite a show! nothing like a wagnerian opera with the stereo at max and mother nature throwing a hissy fit!
after the front, we got enough rain to make any farmer happy, hence the soggy around the edges. soggy is good for frogs.
Here Maya is cracking the whip hollering at me to shovel faster and you are on the beach?
I feel a massive snowflake meltdown coming on. 🙂
Glad you checked in, (not really), now go enjoy yourself and forget about the markets for a few. We will hold the fort so just go enjoy yourself at the Tikki bar. Go watch the waves and find the true Guru in you. ( I agree with you, aint found no chart or guru that nails it on a consistent basis yet. )
Best, and somewhat jealous, Farmboy
Welcome back. Soon you’ll be able to afford to buy yourself a winter home down there. A mini Squillionaire Acres home! 🙂
Announces Significant High Grade Extensions of Veins at Fire Creek; Intercepts 96.92 opt Gold over 1.7 Feet
Fire Creek Mine Underground Drilling Highlights: (see TABLE 1 for complete results)
• FCU-0714: 96.92 opt Au over 1.7 ft., or 3,322.8 g/t over 0.5 m — Joyce Vein
• FCU-0692: 1.47 opt Au over 8.0 ft., or 50.3 g/t over 2.4 m — Joyce Vein
• FCU-0689: 1.08 opt Au over 18.3 ft., or 37.0 g/t over 5.6 m — Joyce/Vonnie Vein Intersection
• FCU-0709: 0.84 opt Au over 33.0 ft., or 28.9 g/t over 10.1 m — Karen/Honeyrunner Vein Intersection
• FCU-0716: 0.45 opt Au over 53.8 ft., or 15.3 g/t over 16.4 m — Vein 31
http://finance.yahoo.com/news/klondex-announces-significant-high-grade-110000108.html
Been in Orlando the last couple of days and I must say that it is wonderful to be in humid 80 degree weather and away from the cold and dumping snow.
I see were having an energetic discussion about Armstrong and his prognostications…
If I could weigh in? Is there really anyone who has consistently been able to call the direction of pm’s over the years? I haven’t seen anyone I could use as a guru who has gotten it right time after time.
Certainly hope we don’t head back toward sub $1K, although I would have thought we’d be approaching $2K by now. It does seem that the USD strength has some influence, but that is not consistently reliable either.
Anyhoo, things seem to be much better so far this year, hopefully this is year one of a long, new bull.
US Army grants easement for Dakota Access Pipeline -court filing
http://finance.yahoo.com/news/us-army-grants-easement-dakota-202501064.html
The Paris Court of Appeal Decides in Favor of Gold Reserve Inc.
http://finance.yahoo.com/news/paris-court-appeal-decides-favor-191400175.html
A-Mark Precious Metals Reports Fiscal Second Quarter and Six Month 2017 Results
http://finance.yahoo.com/news/mark-precious-metals-reports-fiscal-210500691.html
IAMGOLD Secures Final Commitments to Its Existing Credit Facility to Total $250 Million
http://finance.yahoo.com/news/iamgold-secures-final-commitments-existing-220300860.html
Orvana Reports First Quarter Financial Results; Operations Positioned to Deliver Increased Gold Production
http://finance.yahoo.com/news/orvana-reports-first-quarter-financial-225200798.html
Rye Patch Files Amended Technical Report
http://finance.yahoo.com/news/rye-patch-files-amended-technical-013200189.html
(FSM) Early Warning Report
http://finance.yahoo.com/news/early-warning-report-100000263.html
Rubicon Minerals Engages Golder Associates to Assist with its Exploration Work Programs and Provides 2017 Site Cost Estimates
http://finance.yahoo.com/news/rubicon-minerals-engages-golder-associates-110000902.html
Eurasian Minerals Updates Progress at the Akarca Gold-Silver Royalty Property in Turkey and Announces Receipt of First Gold Bullion Payment
http://finance.yahoo.com/news/eurasian-minerals-updates-progress-akarca-114500136.html
Disruptions at top two copper mines threaten global supply
http://finance.yahoo.com/news/freeport-reduce-indonesian-mining-activities-072414434.html
New Gold Announces Sale of El Morro Gold Stream for $65 Million
http://finance.yahoo.com/news/gold-announces-sale-el-morro-124500013.html
PRECIOUS-Gold near 3-mth highs on political, economic uncertainty
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“It is likely that at least some gold buying is the result of uncertainty over U.S. policy, but also investor reaction to the possibility that the far-right, eurosceptic candidate in the French presidential election this year, Marine Le Pen, is gaining momentum in the polls.”
Investors are concerned that the far right could win France’s presidential vote and take it out of the European Union.
Holdings of SPDR Gold Trust , the world’s largest gold-backed exchange-traded fund, climbed 1.01 percent to 826.95 tonnes on Tuesday from Monday. Holdings rose for a fifth straight session.
The rise in holdings, along with recent data from U.S. Commodity Futures Trading Commission (CFTC), show an increase in long positions for managed money and a decrease in short holders, MKS PAMP Group trader Alex Thorndike said.”
“Investors have been piling into gold and gold mining stocks over the past month amid escalating political risks linked to both the protectionist stance of President Donald Trump’s new administration and the myriad election risks developing in the European Union.”
You survive the storm?
Good Morning Oasis !
Greece back in the news this morning.
EU faces crisis as IMF warns Greek debts are on ‘explosive’ path
http://www.telegraph.co.uk/business/2017/02/07/eu-faces-crisis-imf-warns-greek-debts-explosive-path/
Comment: More under pinning for the Dollar? Guessing so. And would think PM’s as well. They sometimes go up together…?
And he changes his mind all the time in trades and I think it’s a waste of time and eventually you just get ground up into little bits. pulverized. So go ahead and chase trains, but just realize that eventually you’re gonna get you legs cut off at best, or financially railroaded to zero
Armstrong is no dummy with TA and very keen on economics.
Personally I WONDER if he’s a closet GB. Then think he’s working for the Boyzzz.
The reason I think that is because he strongly feels that the final high will be dependent on the low or ideal low. Lol He’s just gotta see that ideal low to push gold to the higher high.
He’s been right on with sectors like DOW but seems to jump around with the PMs.
Joe is just posting his blogs but I can see why people can react with because MA bearish doom for gold seem to come out every time the Bulls have it. It distorts people focus.
As you can see with my last post MA said we’ll see highs in 2017 but now he’s saying we’ll see lows.
He has done that more than once like saying a high in 2015 then a low, then a high in 2017 then a low he doesn’t know any more than the current trend and economic atmosphere. So then I think does he want it to move into bearish TA? Other sectors seem to be a little more predictable. I can see why people can wonder if he’s trying to push it down by attacking or discouraging GBs. Id like to think the aforementioned that he’s so bent on his ideal low he will ignore all cues it’s not going the way he planned. But then that’s not even making sense anymore because why would he be bullish at first then switch to bearish? I think I remember reading he said 2018 gold would be taken down.
Well.. What we have to watch beside current state of affairs is the Fed dragging its feet the first half of the year while gold creeping up then may pounce as Trump starts putting people to work on the wall and infrastructure plus other companies coming in with May give the Feds ammo to raise rates. Top analysts are predicting the will start raising rates mid year then every quarter in 2018. With things like that MA can switch from bull to bear. That would be dependent on what reaction it would cause on PMS or even if the predictions are right.
MA is just another human. He doesn’t know SHIT. So sit down and please be quite
MA has confused GBs with switching his highs and lows. He has scrubed things Hes said. I remember hearing him say a gold high for 2015 on a audio with King World News.
Here’s another example.
Scroll down to As Armstrong Cycles stated.
Switching into a long-term perspective gold is poised for its final high on this run in the year 2032. New highs should also be seen in 2017 and 2020 against the US$ from cycle lows in 2015. Panic Cycle Models suggest that higher volatility is due the year of 2017.
https://www.indigopreciousmetals.com/news/gold-cycles-armstrong-august-2015/
India is moving now to confiscate gold after going after the cash. Currently, each married woman is entitled to 500 grams, each unmarried woman 250 grams, and each man 100 grams of gold. Everything that goes beyond is classified as illegal possession and thus will be confiscated.There is no restriction on the possession of the jewelry only if the jewelry was purchased by inheritance. Prime Minister Narendra Modi is giving more power to tax authorities rather than dealing with corruption. They will be shaking people down for money. Unlike FDR who confiscated gold from the banks, Modi is allowing the tax people to go door to door.
This is the problem I have been warning about with gold. It is losing it safe haven status for it is getting to the point you cannot travel with it, keep it in a safe deposit box, or show gold with jewelry. In Italy, if it looks like you have excessive jewelry, they pull you over and weigh it at the border.
This is all part of the Hunt for Taxes. India is setting the tone. The danger will be if others follow. Trump would stand in the way of such policies in the United States. But in Europe, we may see the same policies take effect to different degrees. All they need do is claim that terrorists are using gold to fund their operations.
Everything is still on target for the move under $1,000 into next year.
