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Thursday
Oct112018

The S&P500 Fall and Its Effect On The Precious Metals Sector

Preamble

Market sectors are interlinked and what boosts one particular sector can put downward pressure on other sectors. We have seen the recent action by the Fed in raising rates and the boosting effect that they have on the US Dollar. A strengthening dollar has an inverse effect on gold and silver and the associated precious metals producers and so gold bugs have suffered accordingly.

The action in the financial markets of the last few days has seen a correction from historic highs as investors decided to take profits and place their investment funds elsewhere. During Thursday’s trading session on the NYSE the DOW Jones was down 545 points, following an earlier fall of some 800 points. The S&P500 also fell in a similar fashion and both indices closed below their respective 200day moving averages.

It should also be noted that the dollar also lost ground despite the recent rate hikes and the stated intention of the Fed to continue with the policy of rate ‘normalization.’ Both of these factors helped gold and silver prices to recover and this in turn saw investors taking a tad more interest in the associated mining companies. The biggest gold producer on the planet, Barrick Gold Corp (ABX) gained 9.39% in Thursdays trading session. In stock market parlance it is unusual for an elephant to sprint but on this occasion, Barrick proved to be the exception to the rule.

The Chart of the S&P500

 

 

The above chart of the SPX clearly depicts.......

MORE....

 

Last week was a really interesting week for gold - was it a minor jump or the start of a new rally?

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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Monday
Sep242018

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.

Click to read more ...

Wednesday
Sep122018

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.

Click to read more ...

Tuesday
Sep112018

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

Click to read more ...

Thursday
Sep062018

Gold Mining Stocks Still in Weak Hands (Part Three)

Preamble

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.

Click to read more ...

Thursday
Aug302018

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

Click to read more ...

Wednesday
Aug292018

"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..."

Click to read more ...

Tuesday
Aug282018

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.”

Click to read more ...

Monday
Aug272018

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

 

By Greg Hunter’s USAWatchdog.com (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 JSMineset.com. Sinclair explains, “‘When’ is the question we are asked constantly by our viewers and readers. . .

Click to read more ...

Monday
Aug202018

Gold Mining Stocks Still In Weak Hands (Part Two)

Preamble

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.

more....

 

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

Subscribe for 12 months with recurring billing - $199

Buy 12 months of subscription time - $199

If you are new to investment in the precious metals sector then you can subscribe of our FREE newsletters regarding gold stockssilver stocks and uranium stocks, just click on the links and enter your email address and we will email you our articles along with other interesting posts.

Please remember to check your spam folder once you have subscribed to ensure that our verification email has not gone astray and you are getting our emails.

 


 

Winners of the GoldDrivers Stock Picking Competition 2007 

 

 

 Follow us on TWITTER @goldprices