Loading ...Wednesday=Fed rate. decision
Next Friday=July jobs report
This is a very interesting article. If the Fed only cuts by a quarter point then we might go zip right into a recession
Fed’s Asymmetric Bubble-Blowing Policy in Pictures
8:30 am=could be. fire works….
US growth could be weakest in more than two years but latest data might not affect Fed’s next move
PUBLISHED 3 HOURS AGOUPDATED 2 HOURS AGO
- Second quarter GDP is the final major economic report before the Fed meets Tuesday and Wednesday, and it is expected to show growth below 2%, the weakest in more than two years.
- Economists and market strategists say the report, to be released Friday morning, could be important to the markets but less so to the Fed, which has indicated it is on a rate cutting path despite the data.
- Economic reports for the third quarter have been improving but the second quarter could continue to show weakness, particularly in the contrasting sluggishness of business and manufacturing and the strength of the consumer.
What’s Behind Gold’s Breakout?
Authored by Alasdair Macleod via GoldMoney.com,
Gold’s dramatic move above $1400 has caught the investment establishment by surprise. Physical gold ETFs, as a proxy for direct portfolio investment, amount to only 0.05% of the estimated $250 trillion of global investment values. As well as being badly wrongfooted, investment managers have little understanding of the role of gold as money, believing it to have no role in the monetary system. They will have to undergo a rapid re-education. This article addresses their common misconceptions.
cont. https://www.zerohedge.com/news/2019-07-25/whats-behind-golds-breakout
Yamana Gold Announces Strong Second Quarter 2019 Results
TORONTO, July 25, 2019 (GLOBE NEWSWIRE) — YAMANA GOLD INC. (TSX:YRI; NYSE:AUY) (“Yamana” or “the Company”) is herein reporting its financial and operational results for the second quarter 2019. Second quarter results include strong gold and silver production highlighted by a second straight quarter of record production at Jacobina. Additional highlights include:
- A 7% year-on-year increase in GEO(1) (2) production to 257,556, including 232,863 ounces of gold and 2.17 million ounces of silver.
- In-line cost guidance, including all-in sustaining costs (“AISC”)(3) of $941 per GEO and cash costs(3) of $670 per GEO.
- Net earnings attributable to Yamana equity holders of $14.1 million or $0.01 per share basic and diluted. Adjusted net earnings(3) were $19.8 million or $0.02 per share basic and diluted.
- Cash flow from operating activities of $147.6 million and cash flows from operating activities before net change in working capital(3) of $156.0 million.
- Increase in free cash flow as follows:
| Three months ended June 30 | ||||||
| (In millions of United States Dollars) | 2019 | 2018 | ||||
| Net Free Cash Flow(3) | $ | 122.9 | $ | 48.0 | ||
| Free Cash Flow before Dividends and Debt Repayments(3) | $ | 51.2 | $ | (41.7 | ) | |
| Decrease (Increase) in Net Debt(3) | $ | 13.1 | $ | (38.6 | ) | |
The Company continues to anticipate a strong second half and remains on track to meet its 2019 guidance.
“This was one of the more important and exciting quarters in Yamana’s history,” said Daniel Racine, President and Chief Executive Officer of Yamana. “We have embarked on a new era, significantly improving our balance sheet and financial flexibility, which will allow us to pursue our organic growth opportunities at a time when the metal price cycle appears to be turning.”
TOO MANY CLOWNS, NOT ENOUGH VOLKSWAGENS
during a break in testimony, mueller takes a call on his bananaphone.
Maya @ 15:12
That’s great! Stick it to those pricks!
The Weissmann Report The So Called “MUELLER REPORT”
Mueller didnt have a clue about what the Report said because he didnt write it.! Some sleezy hack Lawyers like Weissmann did it ! Then Mueller was selected to put his name on it to give it “CREDABILITY” since he was former head of FBI.. It was a hatchet job on TRUMP and Mueller couldent defend it as he stumbled his way through testimony because he didnt know what was in it..
“When you realize that Robert Mueller didn’t select the team; rather the preexisting team selected their figurehead, Robert Mueller; then results make sense. Robert Mueller can never be allowed to testify to congress because if questioned he actually has very little understanding of what took place.”
MUELLER was a STOOGE for the Democrats ,a PUPPET led to the TV Cameras to make a fool of himself
to cover up after WEISSMANN COULDENT FIND ANYTHING ON TRUMP with his 44 Democrat lawyers on his team. They hired MUELLER to try to give it CREDABILITY ……it FAILED !
Heh heh he
Tulsi Gabbard Sues Google For Campaign “Interference”
$50 Million would be a nice addition to her election fund.
Buygold
I have gone long the pound on the basis that the mkt is misreading how popular Boris will be and that the pound has been sold down to crazy levels on Brexit fears…the whole world is short, so it’s potentially a classic crowded trade.
Today we were about to start breaking above 1.25 to the Dollar out of a nice bull flag formation, which counted up to 1.2580 or so, that would trigger another tgt to 1.2700, which would break long term down trends and thus trigger serious short covering…. When suddenly it all just reversed and the dollar was then rammed higher for the next 5 hrs….no way does a real mkt do that….and then it came to me…there is a massive Long Dollar possy out there….which if it starts to go, would be a rout in no time…..where else can u go, but to PM’s because all the other currencies are shiite and most have negative rates.
That is what they are trying to protect.
Idiot mkts/scum intervention
They have tried to spin todays turnround on Draghi being light on details….well he may have been light on details…but the need to act is pressing….and all they know is printing etc.
Plus
Entire Swiss Curve Goes Sub-Zero – Global Negative-Yielding Debt Spikes To New Record High
So todays sell off in US treasuries looks even more suspect.
Chinese banks are rotten rotten rotten. The amount of non performing loans is massive. Things are so bad that they are refusing to share information with their auditors. LOL
Chinese Bank With $100 Billion In Assets Is About To Collapse
https://www.zerohedge.com/news/2019-07-25/chinese-bank-100-billion-assets-about-collapse
Maddog @ 12:44 re: bail ins
That’s a biggie. So … what looks better, funds in a bank which can be seized or gold and silver buried out by the Eucalyptus tree?
Governments sure have a habit of looting their citizens!
Maddog, R6
Interesting thoughts. Didn’t realize the scum was actually propping the dollar. Wonder why??
No doubt someone knows tomorrows number and it would make a lot of sense for the scum to hit pm’s and goose the USD in advance of crappy numbers. Shake the pm tree.
We’ll see if pm’s catch any sort of bid into the close, that my be a clue.
Fortunately we haven’t had to endure too many days like this lately.
R640
Good thinking….I doubt the No has been leaked, but they know it and judging by the action it must stink.
Gold is now low enough to allow a 1 % jump and mean nothing….only 1426 basis 1412…it may be crisis saved for today.
I am watching/ trading some currencies particulary the pound and it was all about to break for the Dollar, when they came in and turned everything……we may be looking at the wrong place for the next crisis, it could be the long Dollar possy.
The scum have bid it so long, that the whole world must be long dollars now, any reversal could be a rout in days…..
Buygold-could a strong GDP. have been leaked? Doubtful
cause all this started with the ECB announcement. which launched gold…is this gold take down frontruning a weak GDP like they hit gold. on FED. announcement days?? Who the F knows? One thing for sure, the PM sector is being attacked by the government and its surrogates
Probably the VXX is a buy but one week call options are as expensive at. JNUG ones
Buygold
It’s a fully co-ordinated scum attack, the Dollar was just about to trigger some serious long liquidation, so the scum have monkey hammered it back up…the hourly charts are shocking today, they show huge moves out of nowhere, in Bonds. SM, Dollar and PM’s….all to protect the scum narrative.
12:28–I just got home and see PMs are frozen in place-not down a lot–a good sign…
we’ll just. have to wait and see which way things break–for now the. Cartel is in charge–any sign of life is immediately sold down
USD sure came ripping back
Looks like we may need some lousy GDP numbers tomorrow to knock it down a notch.
No big comeback in pm’s today. Unfortunate since the SM is getting hit pretty good.
Australia’s Banks Are Preparing for Bail-Ins of Retail Bank Deposits
So not only are they gonna steal our money in in any new crisis, they are crushing the one safe alternative…..u have been warned.
Dippers coming in
looks like we have a little dip buying coming in on the shares.
Good to see. Hopefully the metals will follow.