Loading ...spot gold AND silver
both got a nice pop at about 20:30 New York time – right after the Hong Kong market opened. somebody in Asia’s buying…
silver jumped a dime, gold three bucks.
“Curiouser and curiouser,” said Alice…
Gold Train
Just yesterday morning…
Big Boy flies high above the Kettle River
in the Minnesota northwoods
https://railpictures.net/photo/704323/
Carter Worth is a master technician and frequent and respected guest on CNBCs’ Fast Money at 5pm
“I have no real price objective for gold or silver, other than “higher”. Which is to say, the bet is that we’re witnessing a structural change taking place for the first time in years, in which precious metals outperform (general) equities… and trade much higher than where they are trading at present. May it be so!” — Carter Worth, Cornerstone Macro
Tidbits
Ouzo for all….
Robert Burgess?Verified account @BobOnMarkets
It finally happened: Greece 10-year sovereign bond yields have dipped slightly below 10-year U.S. Treasury yields. They were lower by 0.006 percentage point this morningWashington (CNN)President Donald Trump and bipartisan congressional leaders clinched a sweeping two-year budget agreement that would produce hundreds of billions in new spending and take the threat of a fiscal crisis off of Washington’s plate for more than two years.
Opinion: Who’s ready for decades of low or negative U.S. interest rates?
July 23, 2019 11:45 a.m. ET
The Federal Reserve believes low interest rates will solve America’s inequality problem
We used to worry about dovish Democrats taking over the Fed and cutting interest rates and bringing back the inflation of the ’70s. Now the Republicans are doing it! A Democratic administration would behave no differently. Sobering thought — we are in for decades of ultra-loose monetary policy.
For the fourth time in nine months, the International Monetary Fund has cut its global economic forecast.
R6 – and then of course there was the Philly Fed Report
Which was off the charts great. I think it was around 21 vs. estimates of 6 or even 3.
How the hell can they even calculate any of that stuff?
Maddog
HUI looks decent but they are selling the small caps into the close. MUX leading the charge to the downside. Was hoping it wouldn’t break $1.85 but McEwen is their whipping boy.
This is a tough spot. We’re holding up well considering how strong the USD, Treasury rates and the Stock market are today.
Maybe R6 is onto something with the GDP coming out Friday?
The Fed desperately needs a weak data point so they can cut into it.
To me, it looks like the rest of the world is trying to destroy the US economy by inflating the USD. But what the hell do I know??
Mr. Copper–I agree!
4h–Economist David Rosenberg
scum desperately trying to kill the TA bull flag break out in AU
in days gone by they would have smashed it back already, now life is not so easy.
My guess is we have some serious buying going on and it could well be from China…the latest demo in Hong Kong turned very nasty…..rumours that ‘someone’ paid Triad thugs to beat up demonstrators.
If your Chinese. life under Xi ain’t looking too clever, a few ounces under the bed/in the garden, makes a lot of sense, with the future so bleak.
1 oz each = over 40 K tonnes, 4 Oz = 160 K …all the Gold that has ever been mined, according to James Turk.
hui…
making a little afternoon comeback. some of the shares catching some updraft…
The GDP Is A Load Of Crap
If it’s high it still does not raise incomes and tax receipts, or living standards. And if they include retail SALES of imports? Its even more stupidity. More sales higher GDP means more trade deficit.
As far as I’m concerned the REAL GDP has been negative since 1975. Negative growth in wages and living standards. Maybe GDP is simply reflecting global business to business profits. They have been avoiding US labor and US taxes since 1975 imo of course.
I think she’s screwed … something something about chickens, roosting
Ethics Complaint Filed Against Rep. Ilhan Omar; Accused Of Immigration, Tax And Student Loan Fraud
Most economists anticipate that an annualized pace of 1.5%-1.8% after 3.1% in Q1.
The US reports its first estimate of Q2 GDP on July 26.
The market impact may be minor and primarily limited to the headline effect. What the Fed decides to do at the July 30-31 meeting is not so much a function of Q2 GDP. It is not really based on the current data, and as the Fed’s Clarida explained, one needs to move before the data turns down. NY Fed’s Williams call for swift, preemptive action when necessary also helped depress the implied yield of the August fed funds futures to a new contract low below 2% before rebounding a bit ahead of the weekend and after the NY Fed suggested Williams comments were misinterpreted.
The market was eager to believe the Fed was going to cut 50 bp in one move that it seemed to willfully confuse the seeming assurances of the timing with the magnitude of the move. At one point, the fed funds futures market was pricing in around a 70% chance of a 50 bp cut. The pendulum of sentiment began swinging back, but it still finished the week better than a one-in-five chance of a 50 bp cut.
BAANG Stocks versus FAANG Video
- John Roque, technical analyst at Wolfe Research, believes a group of gold miners he coined as ‘BAANG’ are better plays than mega-cap FAANG names as the popular growth stocks might have reached their peaks and have started losing steam.
- “We made this index BAANG in homage to the fading FAANG.” Roque said. These gold miners are “much like gold. So gold has broken out but it’s still down way from its highs in the 1900 thereabouts and we think both gold and those stocks have more room.”
- BAANG stocks are Barrick Gold, AngloGold, Agnico Eagle Mines, Franco-Nevada and Gold Fields.
Comment:
Guy above sounds like he knows what hes talking about. Those 5 miners am very familiar with. Are good companies. If the trend continues the mutual fund managers target the big caps. They have too much money for smaller caps. The Canabis stocks may be taking a back seat now to the PMs. (Precious Metals Miners)
Looks like Maund’s correction may be here
Hopefully nothing too crazy but no doubt there are tons of gaps to be filled in these shares.
Had to figure the scum wouldn’t let us blow right through $16.50 on the first try knowing the implications.
Maddog @ 11:03
Thanks for the insights and Good Luck to Boris Johnson!
Sure hope the citizens don’t get screwed on Brexit.
from Jesse’s
“When you live under such an oligarchy, there is always some crisis or the other that takes priority over boring stuff such as healthcare and pollution. If the nation is facing external invasion or diabolical subversion, who has the time to worry about overcrowded hospitals and polluted rivers? By manufacturing a never-ending stream of crises, a corrupt oligarchy can prolong its rule indefinitely.”
Yuval Noah Harari
ipso facto
Boris should be good news, well almost anything would be better than the miserable hag Treason May. His problem is the v small majority he has in the House of Commons, 60 % at least of his MP’s are for staying in the EU, despite their own electorates wanting out.
His majority is only 3 …so he only needs two MP’s to vote against him, to stop him passing legislation. The betting is that he will have to call an early election, but to do that he will have to do a deal with Farage, or the leave vote gets split and Corbyn gets in.
How he handles dealing with Farage will be v interesting, as Farage has the wip hand…..hopefully they will deal and win the election, Farage can then demand a v good deal, or no deal from the EU…..either way we are going out…..if Boris tries to go it alone, with a warmed up May deal, then he is dead
D’oh! Better get those presses rolling …
Richmond Fed Unexpectedly Crashes To Lowest In Over 6 Years As Order Backlogs Disintegrate
I’m sitting on a big loss on this one but at least they’re going in the right direction
Dolly Varden Hits 24.9 metres grading 385 g/t Silver in the Chance Target Area, including 4.7 metres grading 1,607 g/t Silver
https://ceo.ca/@newswire/dolly-varden-hits-249-metres-grading-385-gt-silver
Dollar be damned
Every time I think they’re coming in to hit the metals, they power right back.
Pretty damn impressive.
Spinoff from Bonterra
Gatling Drills High-Grade Gold in New Holes at Larder Gold Project, Including 12.7 g/t Au over 5.0 meters
https://ceo.ca/@newswire/gatling-drills-high-grade-gold-in-new-holes-at-larder