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Randgold And Barrick To Merge In $18BN Deal, Creating World's Largest Gold Miner

As gold prices cling stubbornly to the lowest levels in a year as US stocks continue their record-breaking tear, two of the world's biggest gold miners are sensing an opportunity. As the Financial Times reports, Canada’s Barrick Gold (the world's largest miner) is preparing to merge with Randgold Resources (its UK-listed rival) in an all-share deal that will create the world's biggest gold miner, with an $18 billion valuation and a dominant mining position in Africa.

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A Mini Bounce in the Gold Bugs Index HUI

The inverse correlation between gold and the dollar was alive and well today as the dollar dropped below the critical level of 95 and gold bounced up to $1210/Oz.

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Multi-Billionaire Hugo Salinas Price – I’ve Seen Many Terrible Financial Collapses In My 86 Years But What Is Coming Will Be Very Nasty

Hugo Salinas Price

As trading continues during Fed week, today Multi-billionaire Hugo Salinas Price warned he’s seen many terrible financial collapses in his 86 years but what is coming will be very nasty.

After 86 Years On This Earth, This Is What I Learned

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Gold Mining Stocks Still in Weak Hands (Part Three)


On days like this I feel like a script writer for a soap opera:

“Previously on Desperate Investors………..” you get my drift as we recently wrote:

This is a capitulation of sorts, but it may not be final at this point. The selling of this sector creates more selling as the stops are hit on the way down. Investors lose heart and decide to end the pain and make no mistake this is painful

There is blood in the streets but I’m not sure that this particular bloodbath is over just yet.

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A Gold Bloc For Iran, Russia, And Turkey...Oh My!

How will Iran, Russia, and Turkey react to the plethora of financial sanctions being placed on them by the United States?  Well, they will do what anyone being beaten with a stick would do: they will try to escape.

An escape is always

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"Inflation Will Run Amok", DiMartino Booth Says "Gold Is The Ultimate Hiding Place"

Danielle DiMartino Booth

Former Fed insider Danielle DiMartino Booth is sure the Fed is going to raise interest rates again at the September meeting.

Why? DiMartino Booth explains, “I think he’s (Jerome Powell) the most independent Fed Chair in the past 30 years, and I think he’s going to raise rates regardless of what is happening in politics..."

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Greyerz – The Price Of Gold Is About To Skyrocket As We Enter The “Dark Years

As the world edges closer to the next crisis, today the man who has become legendary for his predictions on QE and historic moves in currencies, told King World News that the price of gold is about to skyrocket as we enter the “Dark Years.”

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$174,000 per Ounce Gold Not Funny–Scary – Jim Sinclair & Bill Holter


By Greg Hunter’s (Early Sunday release)

Renowned gold and financial expert Jim Sinclair and financial writer Bill Holter are sounding the alarm now on global financial markets starting to burn down and implode. Sinclair and Holter are business partners at the popular financial website Sinclair explains, “‘When’ is the question we are asked constantly by our viewers and readers. . .

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Gold Mining Stocks Still In Weak Hands (Part Two)


The Gold Bugs Index, the HUI closed at 138.98 recently as after umpteen tests of 180 level it finally failed, and the precious metal stocks went into freefall. Since the HUI peaked in 2011 at 630 it has fallen 77.93% (630-139) and this last month we witnessed a form of capitulation in this tiny sector of the market.

The underlying commodities of gold and silver have also fallen from grace having penetrated their upward trendlines via a vicious downswing in dramatic fashion.

As we wrote recently we need to reassess the recent movements with the view to deciding whether this is a buying opportunity, a time to hold or a time to ditch our stocks and run for cover.

There are many reasons for this capitulation in the precious metals sector that need to be considered, however, for today we will focus on what we believe is the main reason for the battering that sector is going through; the US Dollar

A Quick Look at The Charts of the HUI, Gold and the USD

The following charts of the US Dollar and gold show us that the inverse relationship between the gold and the dollar is alive and well.

First the chart of gold where we can see that golds upward trendline has been tested and failed in no uncertain manner. The technical indicators are firmly in the oversold zone with the RSI standing at 22.55 suggesting that a bounce is on the cards, however gold needs a spark, an ignition, some sort of catalyst in order to reverse its fortunes.


Next is the chart of the US Dollar where we can see that it has made good progress since May and has challenged the resistance level of 95 a number of times before finally making a breakthrough to trade close to the 97 level.



If you would like to know which stocks we are buying and selling please join us atStock Trader our premium investment service.

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Krugman Skeptical About Crypto, Predicts Collapse


Authored by Max Yakuboeski via,

Nobel Prize winning economist Paul Krugman has expressed his skepticism about the value of cryptocurrencies in a New York Times Opinion piece published July 31.

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