Noteworthy

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Noteworthy    Private Equity’s Quest for Mines Stalls as Commodities Slide   Bloomberg News, September 15, 2014 4:49 PM  See More
Noteworthy
POSTED ON September 15, 2014 BY Travis McPherson

Nevada is the place where Newmont and Barrick made their names.  It is a place of very large gold operations that have been producing for decades and continue to provide these behemoth gold miners with baseline production and profits. It is estimated that Nevada produces 80% of the total US gold production. This morning, Nevada’s newest gold mine… Continue Reading

POSTED ON September 12, 2014 BY CEO Technician

This morning gold has broken key support near $1240 and hopes for a head and shoulders pattern bottom are all but dashed: Click to enlarge The white oval is the ‘last stand’ area of support I highlighted earlier in the week – gold is currently at a level of ‘oversold’ (green ovals) that has historically… Continue Reading

POSTED ON September 11, 2014 BY CEO Technician

The following chart of the CRB Index sums up what has been a very challenging past few months for commodities: Click to enlarge It is hard to say anything positive about the short term prospects for commodities other than they should put it in a tradable short term bottom at some point in the next few… Continue Reading

POSTED ON September 08, 2014 BY Travis McPherson

Agnico Eagle Mines has agreed to buy Vancouver-based junior Cayden Resources (CYD:TSXV) for $205 million in cash and stock in an announcement after market today that may come as a shock to Goldcorp. Under the agreement, which is supported by Cayden’s management and board representing 19.8% of the votes, each Cayden shareholder will be entitled to 0.09… Continue Reading

POSTED ON September 08, 2014 BY Travis McPherson

This morning, Roxgold (ROG:TSXV), the gold company developing one of the highest margin deposits in the world, announced the discovery of a new high-grade vein at their Bagassi South satellite zone on their Yaramoko project. Bagassi South is located roughly 1.8km away from the 55 Zone which hosts their mining resource. Highlights from the QV1 and… Continue Reading

POSTED ON September 08, 2014 BY CEO Technician

Gold is under heavy pressure again this morning and a ‘last stand’ for gold bulls is fast approaching: Click to enlarge The gold futures chart shows a bearish engulfing candlestick forming today after last week’s breakdown from the large symmetrical triangle The $1240 level (support from early June) is now the last line of defense before… Continue Reading

POSTED ON September 05, 2014 BY CEO Technician

After reaching a relatively frothy net speculative long position of over 165,000 contracts as of the August 12th Commitments of Traders report (CoT), gold speculators have capitulated over the past three weeks by cutting their net long exposure by over 60,000 contracts – here are the last 3 CoT reports presented in chronological order: Click to… Continue Reading

POSTED ON September 05, 2014 BY CEO Technician

Some quality material we have selected for your edification this morning….. Charlie Bilello – Slackonomics 101 Advisor Perspectives – 3 Things Worth Thinking About The Reformed Broker – 2015 Will Be the Year  of the Stockpicker! FT – Nato states to form coalition to fight ISIS CNBC – Why Goldman’s gold man recommends shorting gold

POSTED ON September 04, 2014 BY Travis McPherson

Unsurprisingly, Goldman Sachs’ head of commodities research, Jeffery Currie, told investors to short gold highlighting that the crises in Ukraine and Europe are supporting the price of gold but that the US Fed’s Policy shift would cause a sharp decline in the price of gold.  Sound familiar? Currie is calling for a +$200 per ounce price… Continue Reading

POSTED ON September 04, 2014 BY CEO Technician

The ECB openly entered the quantitative easing game (QE) this morning with a plan to purchase a “broad portfolio of transparent asset backed securities”. The chart below clearly illustrates why the ECB has finally hit the panic button with regard to QE: Click to enlarge Source: FT “Should it become necessary to further address risks of too… Continue Reading

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