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@MiningBookGuy Teranga to build Banfora project in Burkina Faso www.northernminer.com/news/teranga-build-banfora-project-burkina-faso/1003785693/ $TGZ #gold #BurkinaFaso #Senegal #IvoryCoast #WestAfrica #Africa ~AUfrica #NorthernMiner #mbgtrends #index Good updated overview of the company. I like this quote at the end: [Meanwhile, the company is also evaluating M&A opportunities. “There are a number of junior explorers and developers that are looking to determine the best path forward. Because as we stand today, the equity markets are largely closed for the junior explorers and developers. So there may be additional opportunities like the Gryphon transaction … that will help us grow the company in a strong mid-tier West African gold company,” Young reveals.]
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@Goldfinger So far $gold holding above previous band of thick resistance $1260-$1265 - if we're still sitting around $1275 tomorrow at US open I can envision a scenario in which some traders might try to fill this weekend gap. Still a long time from now in market time.
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@Goldfinger $Silver trading up a penny while $gold shedding about 10 bucks shows that there was a bit of a French election premium in gold at the end of last week.
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@dirkdiggler they call the current action in the overseas PM pits a 'French Press' @Goldfinger $gold $silver
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@dirkdiggler For those of you that don't believe that $gold (and $silver) are manipulated, at least to some degree like every other currency on the planet, I implore you: YOU should see us tinfoil-hat types as heroes....YES HEROES! Instead of castigating us, you should all be thanking us! What kind of a topsy-turvy world do we live in, where heroes are cast as villains? Brave men as cowards? I ask you!!! (George Costanza voice)
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@Markedtofuture TF Metals Public Service Announcement on $GOLD Algos- https://twitter.com/TFMetals/status/856291212600455168/photo/1
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@Goldfinger $Gold ETF fund flow diagram via WSJ: http://cdn.ceo.ca/1cfqv8p-IMG_6394.JPG+
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@fringe_remnant $10 - $15 Drop on Spot $Gold Overnight (as of 2:15 AM ET)
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@bilbobagginsmidearth I like my gold weekly, not daily. Sorry.
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wannabeinvestor Not sure I understand why $gold is down. Anti-EU candidates took like 60%+ of the total votes...
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@Picsou @wannabeinvestor Many have suggested here that trying to pinpoint a specific cause to each and every #gold move is a difficult exercise, given the inherent volatility and the numerous factors affecting it. That being said... ...with respect to the French elections, there is less (perceived) uncertainty going into the second round than there was going into the first, so this "theoretically" reduces the need for a hedge or an insurance (look at gold in euros). Yes anti-EU parties totaled 45% to 50%, but it is a very heterogeneous mass of voters (that may even occasionally physically oppose) vs. the rest of voters who are more likely to communicate and build together - at home and in Europe. Assuming #Macron wins, the next uncertainty spike would be June 11-18 for legislative elections, the risk being political #gridlock and #statusquo rather than the step in the unknown that would have been a Melenchon or Le Pen win, irrespective of the legislative elections outcome.
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@F6 Re: Gold Volatility $GVZ One thing that I had been looking at for the longest time is the gold price volatility. The long term trend for volatility in gold prices is lower volatility, much like the bond market. As an aside, the lower gold price volatility goes, the lower mining shares react. Somewhat like the lower $VXX goes, the higher stock markets go, but in reverse. Gold prices can rise under lower volatility, but leave the mining shares behind. There are extreme lows in gold price volatility when the market changes direction. http://schrts.co/qkTLF6 $Gold Monthly I have annotated a monthly chart in gold prices with extreme lows in gokd volatility prior to a change in direction, very likely due to changes in derivatives markets. Very highly likely the gold price correction from $1920 in 2011 was part of what is called a 'Volatility Smile.' Or as the outcome shows over time, a 'Volatility Skew' A persistently rising market is a 'Forward Skew' in terms of derivatives. A Forward Skew perhaps appears to follow a volatility of no less than 10. Changes in direction in the gold price are preceded by a volatility of lower than 9. Of course, the fundamental underlying the gold price rise is interest rates lagging inflation. http://schrts.co/4mpy3k -F6
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@Excelsior $MXSG Mexus smelts first #Gold at Santa Elena mine April 24th, 2017 (GLOBE NEWSWIRE) - New #PreciousMetals #Producer in #Mexico “This test run went well resulting in a small amount of dore. The crew will be fine tuning the temperature of the furnace, adjusting the flux mixture, and installing a more precise weighing system. These are normal steps for a start-up and won’t take long to perfect. This is a hallmark moment for Mexus and marks what will be the first of many #gold pours to come.” added CEO Paul Thompson. http://mexusgoldus.com/mexus-smelts-first-gold-at-santa-elena-mine/
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@Excelsior $MXSG Mexus smelts first #Gold at Santa Elena mine April 24th, 2017 (GLOBE NEWSWIRE) - New #PreciousMetals #Producer in #Mexico “This test run went well resulting in a small amount of dore. The crew will be fine tuning the temperature of the furnace, adjusting the flux mixture, and installing a more precise weighing system. These are normal steps for a start-up and won’t take long to perfect. This is a hallmark moment for Mexus and marks what will be the first of many #gold pours to come.” added CEO Paul Thompson. http://mexusgoldus.com/mexus-smelts-first-gold-at-santa-elena-mine/
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@Goldfinger $Gold miners acting well here given that gold hasn't budged much. Reversal of the underperformance underway? $GDXJ $GDX
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@Goldfinger Large trader just made a large bullish trade in the $gold ETF by paying ~$1.3 million for more than 3,100 $119 strike $GLD call options expiring July 21st. These options are in-the-money, an unusual trade.
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@lukejackson $Silver telling a very different story from $gold and bonds this morning. Either way, nice to see the gap between the gold equities and gold close a bit...
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@Goldfinger $Gold and Treasury $bonds on the highs
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@Excelsior @Allan- you think the ~Zinc #Zinc ~mining syndicate #mbgtrends #Uranium #Lithium #Gold #Silver #Copper rooms are "stockhousie" but think your endless posts about learning spanish, golf clubs, and dog pictures actually add more value to investors here?
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@Leon The outlook for the US #economy is not good to say it at the least. The #Fed will have to admit defeat and therefore will have to drop its tighter monetary policy with as consequence that precious metals will skyrocket." #gold #silver #miners www.321gold.com/editorials/groenewegen/groenewegen042417.pdf
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@Goldfinger Average reserve life of tier 1&2 North American $gold producers has fallen from 15.3 years at the end of 2012 to 10.6 years at the end of 2016: http://cdn.ceo.ca/1cfse8f-Average_Reserve_Life.png+ Via $RBC
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@Goldfinger Tier 1&2 North American $gold producer cost structure and cash margin: http://cdn.ceo.ca/1cfsed2-Gold_producer_cost_structure.png+ Via $RBC
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@Goldfinger With your leadership gold bulls will be reinvigorated @Allan! How's the $gold play you are CEO of doing? I haven't followed them aside from seeing you bought a lot of stock a while back.
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@tommy JC Parets' Potential 2017 GOLD Roadmap http://cdn.ceo.ca/1cft88p-GCSpot.png+ $GOLD $GC_F https://allstarcharts.com/join/
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@Goldfinger $Goldman out with $1200 $gold call. Watch them buy it hand over fist if it gets down near there in next couple of months.
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@Goldfinger $Gold is holding up very well, USD firm and Goldman out with a bearish call. Gold unmoved, $1276.
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@Leon #Trump now realises the only way his presidency can prosper is to encourage capital flight into America from abroad, and have the debt limit raised to accomodate it. The latest war-mongering against #NorthKorea #Syria and possibly #Iran has much to do with persuading Congress to raise the debt ceiling. This is the end game for the #Dollar and a new dawn for #gold and #silver >Gold's glaring omission https://wealth.goldmoney.com/research/goldmoney-insights/americas-financial-war-strategy/
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@0Kib Management has played a nice little game here. Big announcement due tomorrow as the long trading halt is lifted and then only 7 odd trading days left to the free options record date given a T+2 settlement. Small float, Limited window....= Squeeze! The week prior to the trading halt saw serious accumulation and the stock rising ~30% in one week. $ARL.AX #Nickel #Cobalt #Gold #Zinc
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from #arl.ax,
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@Goldfinger Large trader pays ~$1.4 million for 10,000 $ABX $19 strike puts expiring May 19th. These puts are ~6% in-the-money at current levels. Could be a hedge trade. $gold
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@JamesKwantes Good Global Mining Observer piece on $CGT, Robert Giustra and the Macron connection. The leading French presidential candidate did a site visit to Montagne d'Or in 2015 as Minister of the Economy. With permitting a headwind, a win for him in the runoff would be bullish for Columbus (humanity as well) http://www.globalminingobserver.com/robert-giustra-columbus-gold-emmanuel-macron-182 #gold
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@MiningBookGuy 'The Gold Book' book review http://www.globalminingobserver.com/pierre-lassonde-the-gold-book-182 #TheGoldBook #PierreLassonde #Lassonde #books #miningbooks #gold #mbgtrends #GlobalMiningObserver This is a nice review of a book that was very influential on me. Would be awesome if Pierre somehow decided to write a follow-up book, as suggested at the end of the review!
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@Goldfinger Very rare stuff happening in $gold miners today in terms of one day moves after already being in a downtrend. $GDX $GDXJ
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@Goldfinger $ABX below lower 3-standard deviation Bollinger Band and on track to trade highest single day volume in more than a year: http://cdn.ceo.ca/1cfuujs-ABX_4.25.2017.png+ $gold
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@Goldfinger $Gold miners priced for $1150 gold here IMO.
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@Goldfinger USD/JPY +1.14% $gold -.94%, any more questions?
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@Goldfinger $Gold down less than 3% from its highs of a couple weeks ago, $GDXJ down ~16.5% and $GDX down ~11% over same time frame.
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@stratanic there is good point. US DOLLAR CURRENCY INDEX are very low 98.78
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@Goldfinger $REG to begin drilling at AntaKori in $Peru shortly, via Haywood: "We recently visited Regulus Resources’ (REG-V) AntaKori copper-gold deposit in northern Peru. Regulus is managed by the same team responsible for Antares Minerals Inc., which discovered the Haquira porphyry copper deposit and was subsequently acquired by First Quantum Minerals Inc. (FM-T, not rated) for C$460 million in 2010. Following this success, the team formed Regulus Resources, and after merging with Southern Legacy Minerals Inc. in 2014, has been focused on advancing its AntaKori deposit. Regulus has just mobilized a drill rig to site, where drilling is expected to begin shortly. The Company is also well funded with ~$11 million, plus 5.5 million warrants exercisable at $0.70 per share that are due to expire in November this year. Most of the $11 million is expected to be used to fund a 15,000 to 18,000 metre drilling program in 2017." $copper $gold
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@Goldfinger This options trade from 6 hours ago: "Large trader pays ~$1.4 million for 10,000 $ABX $19 strike puts expiring May 19th. These puts are ~6% in-the-money at current levels. Could be a hedge trade. $gold" is up ~$750,000. Not a bad day's work...
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@Goldfinger Highest single day volume for $ABX since July 2015 (also a big down day) and closes below lower 3-standard deviation Bollinger Band with Force index off the charts: http://cdn.ceo.ca/1cfvbj0-ABX_4.25.2017_CLOSE.png+ A lot of people puked this one up today.... $GDX $gold
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@0Kib Jump in corporate earnings due to the massive tax cuts rendering SP500 multiple attractive and more risk on rally. Deficit and consequent higher rates are back ended outcomes, tax / earnings benefits are front ended. Hence the likely bearish argument #gold
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@Goldfinger And you can make a bearish argument for $gold and tax cuts this way: lower taxes results in higher spending and inflation, $Fed has cover to hike faster, stronger USD, lower gold.....and I could come up with another half a dozen different scenarios, some bullish for gold, some bearish.
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@Goldfinger What if knee-jerk reaction of buying $USD is wrong? Tariffs and protectionist policy should actually be negative for a country's currency, the US is different in some ways because of its size of international trade and current account deficits. But US benefits greatly from its 'float' of USD held overseas. What if those dollar holders say "F U" and exchange for euros or $gold or whatever other currency and a tit for tat takes place with US exports which have a comparative advantage with other countries? Thinking out loud here, and $Trump is clear that he doesn't want a strong dollar....
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@0Kib $USD doesn't have a competing alternative reserve currency yet. $EURO is in demise. $CNY's time is 20-30+ years into the future. A stronger US economy (higher GDP growth due to tax cuts) has to be bullish for USD in the near term until the hangover effect of higher debt burden kicks in down the line. #Gold
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@Goldfinger “By the end of the year or early next year, I believe gold could test the high end of the range of $1,350 to $1,400,” http://www.marketwatch.com/story/golds-tempered-climb-makes-gains-more-sustainable-says-milling-stanley-2017-04-25 $gold
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@Goldfinger Latest scam I just heard about: Targeted ads using social media, targets conservatives ("Sean Hannity can help you preserve your wealth and profit from the implosion of the banking system ..." or something similar), you click and provide your contact info. Broker calls you up and talks about hypothecation within banking system and how your capital is at risk, so you should sign up for a self-directed IRA through us and we will put your money into precious metals. Here are some examples of such scams: https://www.focusontheuser.org/gold-ira-rollover/avoid-gold-ira-scams/ The company I just heard about today actually buys $gold and $silver coins for clients, but usually at 25%-50% markups and then stores it for the client at a ridiculous annual fee. Gold is a religion for some and there are plenty of sharks out there ready to profit from the religious disciples because they are investing on emotion, not logic and reason.
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