Category: Mining
1484 Posts
POSTED ON October 31, 2014 BY CEO Technician

It is not a coincidence that gold has seen a low of $1161 thus far in today’s large sell-off: Click to enlarge There is a great deal of Fibonacci confluence in the $1154-$1160 area (the 50% retracement of the entire 2003-2011 bull run and the 61.8% retracement of the 2008 low to the 2011 peak).… Continue Reading

POSTED ON October 31, 2014 BY Travis McPherson

For those that haven’t had access to the internet or TV today, the West African country of Burkina Faso’s government has collapsed and is essentially in complete disarray. After a day of violent protests, the military seized power and effectively dissolved the country’s parliament. This is a surprise, coming out of one of the more… Continue Reading

POSTED ON October 31, 2014 BY CEO Technician

After yesterday’s ugly session it was pretty much a foregone conclusion that gold would knife through the $1180 level, an area of support which it has tested on 3 different occasions since June 2013. As is often the case the breakdown took place in the early morning hours New York time: Gold is currently fumbling… Continue Reading

POSTED ON October 29, 2014 BY CEO Technician

Gold stocks were hammered today with many senior producers falling by more than 5%. Barrick Gold (ABX), the world’s largest gold miner, was particularly hard hit; its shares reached levels not seen since 2003 when gold was $330/ounce and copper was below $1/pound: Click to enlarge This chart is truly remarkable. It tells a story… Continue Reading

POSTED ON October 28, 2014 BY CEO Technician

Total assets in gold exchange traded products reached fresh 5-year lows last week: Click to enlarge In addition, total assets in the Rydex Precious Metals Fund (an excellent gauge of retail investor sentiment) reached 12-year lows yesterday as investors continue to flee the space in disgust: It is interesting to note that as funds continue to… Continue Reading

POSTED ON October 24, 2014 BY James Fraser

The bear market in gold stocks continues with many of the more notable names hitting 52 week lows during the past few days. Barrick, the world’s largest gold producer (Barrick Gold: ABX.T) hit a low of $14.80, down from $55 just three years ago. Gold equities have been extremely volatile in the past year, creating… Continue Reading

POSTED ON October 24, 2014 BY CEO Technician

Here are the 5 things that you might see near a market top: 1. Commodities rolling over CRB Index   2. Deteriorating market breadth with leadership sectors (energy, financials, and technology) getting hit especially hard S&P 500 1-month heat map   3. Volatility and volume expansion S&P 500 daily with average true range below  … Continue Reading

POSTED ON October 23, 2014 BY Travis McPherson

The Lundins focus on Chile is continuing today, this time with more news from portfolio company, NGEx Resources (NGQ:TSX). “Chile’s biggest new copper-gold camp” is posted all over NGEx’s website and the company believes that they not only have large deposits (3 of them to be exact), but that they are sitting on an entire… Continue Reading

POSTED ON October 23, 2014 BY CEO Technician

An especially brutal round of hedge fund/mutual fund tax loss selling this week (most fund companies have fiscal years that end on October 31st) has sent gold mining shares tumbling to levels not seen since the 2008 Global Financial Crisis (GFC): Click to enlarge NYSE Arca Gold Bugs Index   Gold shares have performed poorly since… Continue Reading

POSTED ON October 22, 2014 BY James Fraser

Nelson Bunker Hunt passed away this morning at the age of 88 after a battle with Alzheimers disease. Nelson and his brother  W. Hebert Hunt are famous for trying to corner the silver market back in 1980. The Hunt brothers managed to drive the price of silver to a record high of $49.45 per ounce… Continue Reading

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