Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
DD....$Gold Breaking Out vs Commodities (Top Chart) As US Dollar Weakens (Bottom Chart)
$GOLD MINERS NEWS - $Gold now has a historical breakout vs US CPI. A very bullish chart for precious metals.
$Gold Has Also Broken Out vs CPI
The inflation-adjusted $gold price having a 44-year break out has absolutely massive implications going forward…
$15,000 GOLD Soon! Prepare for the BIGGEST $Gold & $Silver Rally in 50 Years - John Rubino
Money Sense
The Impact of Global Economic Events on Gold
Global economic events can be broadly classified into two categories:
1)Macroeconomic Events: These are large-scale events that affect the overall health of the global economy, such as changes in interest rates, inflation rates, and GDP growth.
2)Geopolitical Events: These include political upheavals, wars, and trade sanctions between countries.
Let’s see some specific examples:
1)During times of economic uncertainty, such as a recession or high inflation rates, investors tend to flock towards safe-haven assets like gold This increased demand leads to a rise in their prices.
2)Geopolitical events also play a crucial role in the prices of gold For instance, during times of geopolitical tension, investors shift funds toward precious metals as a hedge against potential volatility in other assets. for example russia vs ukraine war , israel vs palestine war etc
3) Interest rates significantly impact the prices of gold Lower interest rates make borrowing for investments more affordable, prompting investors to opt for riskier assets such as stocks and real estate, reducing the demand for gold and silver. Conversely, higher interest rates steer investors towards safer assets like gold and silver.
4)Changes in currency values can also impact the prices of gold As these precious metals are denominated in US dollars, a decrease in the value of the dollar can lead to an increase in their prices. This is because investors from other countries will need to pay more of their local currency to purchase these metals
5)Supply and demand factors this a also play important role determining prices of gold for example any tension supply chain like mining strike and natural disaster can cause decrease in supply of gold and which will cause increase in prices of gold
https://www.boldpreciousmetals.com/gold-bullion
https://www.bullionupdates.com/understanding-the-basics-of-investing/
Hello everyone,
I’d like to get your thoughts on an important topic: What are the potential impacts of de-dollarization on gold bullion prices? As more countries move away from the US dollar as the global reserve currency, how do you think this shift will affect the value of gold? Let’s discuss the possible benefits, risks, and market dynamics involved
$DOLLARS Fiats Eventual Financial Death Spiral Now Imminent – John Rubino
By Greg Hunter On March 9, 2024 In Market Analysis 83 Comments
https://rumble.com/v4i4tv5-eventual-financial-death-spiral-now-imminent-john-rubino.html
$GOLD Mining Update - GOLD WEEKLY - Unless something dramatically changes, we have a weekly breakout in gold.
A 50% rally succeeded a similar breakout in 2019.
GOLD DAILY- Gold is finally breaking above $2100, and I believe we are in the initial stages of a powerful multi-month rally.
This cycle should press to the upside into late April or early May.
RESTART GREAT GOLD MINE - ABCOURT MINES | Red Cloud's Pre-PDAC 2024 -
Red Cloud TV
RESTART GREAT GOLD MINE - ABCOURT MINES | Red Cloud's Pre-PDAC 2024 -
Red Cloud TV
Watch RE: Monument Begins Gold Concentrate Shipments at Selinsing Gold Mine
News..Close to Being Fully Commissioned ..60000 Ounces -
Figure 3: Selinsing Flotation Plant
So, 5000 tons of Concentrate averaging 1.2 ounces per ton = 6000 ounces are now being delivered
as part of the offtake agreement ......about $13 milion in USD .
99 % breast plate in June./month
We shall soon be at planned 4500 tons per month containing 1.2 ounces = 5400 ounces===which is
over 60,000 ounces per years
Monument Mining begins Au concentrate shipments
Figure 2. Concentrate Shipment at Weighbridge
2023-06-23 12:22 ET - News Release
Ms. Cathy Zhai reports
MONUMENT BEGINS GOLD CONCENTRATE SHIPMENTS AT SELINSING GOLD MINE
Monument Mining Ltd. has begun the first gold concentrate shipments and sales from the newly
constructed flotation plant at the Selinsing gold mine.
President and chief executive officer Cathy Zhai commented: "This is a momentous occasion for us as
we begin to ship and sell gold concentrates from the flotation plant.
The initial offtake of 2,000 dry metric tonnes (DMT) of concentrate from Selinsing marks the beginning
of a gold concentrate revenue stream and restores our operating cash flow.
We would like to give thanks to our hard-working operation teams, backroom administration support
personnel and our business partners to make this happen."
Gold concentrate shipments and sales
Significant interest has been received from potential buyers of the Selinsing gold concentrate.
All export and transport permits have been received and the first truckloads of concentrate were shipped from the Selinsing warehouse on June 18, 2023, to Johor Free Trade Zone.
To date 490 DMT of concentrate have been dispatched out of an initial offtake of 2,000 DMT.
Weighing, sampling and moisture determination of the delivered concentrate are being conducted at the Johor Free Trade Zone by an appointed internationally recognized survey company.
An additional 3,000 DMT of concentrate are currently available for sale.
The company intends after a trial shipment to gradually increase the number of trucks to speed up the logistic process in selling backlogged product.
In the future concentrates will be shipped to buyers on a routine basis. The backlog was caused by a lengthy initial administrative process for obtaining all relevant permits and organizing logistics. Over the past six months, the company has built a logistic team and sales chain at the Selinsing project.
Commercial production update
The flotation plant operation is improving with up to 99 per cent of design capacity achieved during June, 2023, and overall 83-per-cent capacity achieved for the 30-day period up to June 17, 2023.
Torn filter cloths remained an issue with new cloths still awaited from the filter press supplier McLanahan. New HDPE (high-density polyethylene) pipework was received to upgrade the concentrate thickener underflow pipeline. A similar upgrade was planned for the flotation cleaner concentrate pipeline which emerged as a bottleneck with increasing flotation mass pull.
Flotation recovery has shown a steady improvement as increasing proportions of newly mined transition and fresh ore were processed. Daily recoveries in excess of 80 per cent have been recorded during June, 2023, although an average of 68-per-cent recovery month to date was caused by some poorly performing old transition ore processed at the start of the month.
Construction of the concentrate shed continued with the main roof completed and the perimeter concrete wall approximately 50 per cent done. Work continued extending the lean-to roof to the filter press building. The bagging system has been prepared for shipping to Malaysia.
Mining update
Mining of Buffalo Reef stage 1 BRC2 and BRC3 pits continued with both transition and fresh ore delivered to the ROM pad and maintained around one month supply of ore feed to the flotation processing plant. A new drill rig was delivered in June, 2023, with nine grade control drilling rigs now operational; a 10th unit is scheduled for delivery in August, 2023. The mining operation is aiming to achieve and maintain a three-month supply of ore at the ROM.
Construction of the explosive's depot progressed well with delivery of the bulk emulsion gassing container and the connection to mains power completed. This is to remove dependency on explosives delivery from the sole dominant supplier in the country due to its shortfall of trucks over the past several months. The isotainer storage tanks are due for delivery in late June, 2023, and the explosives depot will be commissioned in early July, 2023.
Work started on the conversion of the old core shed to an expanded sample preparation facility capable of processing up to 700 grade control samples per day, which will remove another major bottleneck in the mining cycle.
Risks
Other operation risks in related to mining and processing processes are under continuous evaluation to improve the performance.
by nozzpackon Jun 23, 2023
Monument Begins Gold Concentrate Shipments at Selinsing Gold Mine
June 23, 2023
https://monumentmining.com/news-media/news/2023/monument-begins-gold-concentrate-shipments-at-selinsing-gold-mine/
View PDF
Vancouver, B.C., June 23, 2023,
Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) (“Monument” or the “Company”) is
pleased to announce the first gold concentrate shipments and sales from the newly constructed
flotation plant at the Selinsing Gold Mine.
President and CEO Cathy Zhai commented, “This is a momentous occasion for us as we begin to ship
and sell gold concentrates from the flotation plant. The initial offtake of 2,000 dry metric tonnes
(“DMT”) of concentrate from Selinsing marks the beginning of a gold concentrate revenue stream and
restores our operating cash flow. We would like to give thanks to our hard-working operation teams,
backroom administration support personnel and our business partners to make this happen.”
Figure 1. Loading Concentrate for Transport
Figure 2. Concentrate Shipment at Weighbridge
Gold Concentrate Shipments and Sales
Significant interest has been received from potential buyers of the Selinsing gold concentrate. All
export and transport permits have been received and the first truckloads of concentrate were shipped
from the Selinsing warehouse on June 18th, 2023 to Johor Free Trade Zone. To date 490 DMT of
concentrate have been dispatched out of an initial offtake of 2,000 DMT. Weighing, sampling and
moisture determination of the delivered concentrate is being conducted at the Johor Free Trade Zone
by an appointed internationally recognized survey company.
An additional 3,000 DMT of concentrate is currently available for sale.
The Company intends after a trial shipment to gradually increase the number of trucks to speed up
the logistic process in selling backlogged product. In the future concentrates will be shipped to buyers
on a routine basis.
The backlog was caused by a lengthy initial administrative process for obtaining all relevant permits
and organizing logistics.
Over the last six months, the Company has built a logistic team and sales chain at the Selinsing
Project.
Commercial Production Update
The flotation plant operation is improving with up to 99% of design capacity achieved during June
2023, and overall 83% capacity achieved for the 30 day period up to June 17th 2023.
Torn filter cloths remained an issue with new cloths still awaited from the filter press supplier
McLanahan. New HDPE pipework was received to upgrade the concentrate thickener underflow
pipeline.
A similar upgrade was planned for the flotation cleaner concentrate pipeline which emerged as a
bottleneck with increasing flotation mass pull.
Figure 3: Selinsing Flotation Plant
Flotation recovery has shown a steady improvement as increasing proportions of newly mined
transition and fresh ore were processed. Daily recoveries in excess of 80% have been recorded
during June 2023, although an average of 68% recovery month to date was caused by some poorly performing old transition ore processed at the start of the month.
Construction of the concentrate shed continued with the main roof completed and the perimeter concrete wall approximately 50% done. Work continued extending the lean-to roof to the filter press
building. The bagging system has been prepared for shipping to Malaysia.
Mining Update
Mining of Buffalo Reef Stage 1 BRC2 and BRC3 pits continued with both transition and fresh ore
delivered to the ROM pad and maintained around one month’s supply of ore feed to the flotation
processing plant.
A new drill rig was delivered in June 2023 with nine grade control drilling rigs now operational; a tenth
unit is scheduled for delivery in August 2023.
The mining operation is aiming to achieve and maintain a three-month supply of ore at the ROM.
Construction of the explosive’s depot progressed well with delivery of the bulk emulsion gassing
container and the connection to mains power completed. This is to remove dependency on explosives
delivery from the sole dominant supplier in the country due to their shortfall of trucks over the past
several months.
The isotainer storage tanks are due for delivery in late June 2023 and the explosives depot will be
commissioned in early July 2023.
Work started on the conversion of the old core shed to an expanded sample preparation facility
capable of processing up to 700 grade control samples per day, which will remove another major
bottleneck in the mining cycle.
Risks
Other operation risks in related to mining and processing processes are under continuous evaluation
to improve the performance.
The Company closely monitors uncontrollable risk factors with building and operation of the flotation
plant including but not limited to: change of market conditions, change of gold prices, operation risks
including critical parts shortages which may cause a longer than expected ramp up period, and
changes in regulatory restrictions in relation to arsenic level contained in gold concentrate.
About Monument
Monument Mining Limited (TSX-V: MMY, FSE: D7Q1) is an established Canadian gold producer that
100% owns and operates the Selinsing Gold Mine in Malaysia and the Murchison Gold Project in the
Murchison area of Western Australia.
It has 20% interest in Tuckanarra Gold Project jointly owned with Odyssey Gold Ltd in the same
region.
The Company employs approximately 200 people in both regions and is committed to the highest
standards of environmental management, social responsibility, and health and safety for its
employees and neighboring communities.
Cathy Zhai, President and CEO
Monument Mining Limited
Suite 1580 -1100 Melville Street
Vancouver, BC V6E 4A6
FOR FURTHER INFORMATION visit the company web site at
https://www.monumentmining.com
or contact:
Richard Cushing, MMY Vancouver T: +1-604-638-1661 x102
rcushing@monumentmining.com
New development to increase production from our Floatation Plant ....
With respect to the construction of the Biox Plant and in order to reduce the initial capital investment,
the Company now plans to develop the Selinsing Sulphide Project through a two stage de-risking
process:
....Stage 1 construction of a flotation plant that was originally designed to deliver sulphide gold
concentrates as a semi product for further BIOX® leaching process.
.....Under the new approach, the flotation plant will be modified to produce higher grade saleable gold
concentrates, the cash generated from which may be used to fund upgrading of the BIOX® leaching
plant.
This is an excellent move to modify the FP to produce a higher grade gold concentrate .
This will maximize and front load our profitability, both from increased production volumes and higher
grade concentrate relative to head grade
( ie higher recovery rates ).
In other words, Mass pull will be enhanced which will result in a concentrate weighing less but
containing more gold.
I would say that Dato is once again exercising his substantial background in mining experience around
the world and introducing those efficiency activities to make Selinsing as profitable as possible .
We are in good hands,,
There is a lot going on on the Monument Mining website very interesting explanation
nozzpack thanks
https://monumentmining.com/projects/selinsing-gold-portfolio/development/
https://monumentmining.com/projects/selinsing-gold-portfolio/exploration/
https://monumentmining.com/
https://monumentmining.com/investors/presentation/
https://monumentmining.com/site/assets/files/4327/2023-03-02-cp-mmy.pdf
https://monumentmining.com/news-media/photo-gallery/
Comment on this Post
God Bless
Amen
Bullish
You Need a War Strategy – Catherine Austin Fitts
By Greg Hunter On June 3, 2023 In Political Analysis
https://usawatchdog.com/you-need-a-war-strategy-catherine-austin-fitts/
Ignore Digital Dollar’s 'Hot Air' and Watch for Gold $3,000, Silver $50
Stansberry Research
598K subscribers
GOLD - Aris Mining Corp. | Webinar Replay & 25 Milllion Oz. In ARIS - )
Red Cloud TV
8.89K subscribers
thank you for your thoughts, increased about 24% that year!
With the current banking issues will Gold jump dramatically as a safe haven for cash?
$PSA History Often Repeat Itself - - GOD'S $Gold On Fire - $NEWS - $Monument
Reports Second Quarter Fiscal 2023 ("Q2
FY2023") Results )
March 1, 2023
View PDF
Gross Revenue of US$5.87 Million and Cash Cost of US$1,507/Oz
Vancouver, B.C., March 1, 2023, Monument Mining Limited (TSX-V: MMY and FSE: D7Q1)
“Monument” or the “Company” today announced its production and financial results for the
second quarter of fiscal 2023 and the six months ended December 31, 2022.
All amounts are expressed in United States dollars (“US$”) unless otherwise indicated
(refer to www.sedar.com for full financial results).
President and CEO Cathy Zhai commented, “I am pleased to report during the second
quarter our Selinsing Gold Mine has filtered first gold concentrates with completion of
dry/wet flotation plant commissioning.
The ramp up period commenced subsequent to the second quarter yet to bring the project
to commercial production.”
Second Quarter Highlights:
https://monumentmining.com/news-media/news/2023/monument-reports-second-quarter-fiscal-2023-q2-fy2023-results/
Gold Production @ Low Cost & Very Undervalued Bargain - Thanks -
WELL; Monument Mining HAVE 3 GOLD MILLS NOW - And )
Selinsing have One BIOX and One New SULPHIDE - )
Well Monument Mining have produced 1000 Gold Bars - )
and the next 1000 Gold Bars should go much faster with the new MILL - )
https://monumentmining.com/news-media/photo-gallery/
RE: NEWS - Monument Mining President and CEO Cathy Zhai
commented, “During commissioning we have identified some
bottlenecks and are working with Mincore to fix them.
Up to date the flotation plant has delivered saleable concentrate of approximately
1,707 dry tonnes at 35.12 g/t Au with gold content of 1,928 troy ounces. )
Figure 2. Plant Inspection
https://www.globenewswire.com/news-release/2023/02/27/2616400/0/en/Monument-Progresses-Flotation-Commissioning-at-Selinsing.html
As of February 22nd, 2023, a total of 1,707 dry metric tonnes of gold concentrate have been
produced with an average gold grade of 35.12 g/t Au (1,928 troy ounces).
A fast Production Gold Au Estimate DD by a Monument Mining Investor: -
Ex.gracia -
Scoping of concentrate Production…52,000 ounces
We have some very interesting tidbit provided in todays NR which can be combined with
FS information to scope out annual concentrate production
...950,000 tons of mill feed per year ( about 3000 tpd )
....Mass pull of 5% ( ie 100 tons of ore is concentrated by a factor of 20 to 5 tons of
concentrate )
..head .grade of 1.95 gms per ton ( oxides removed )
....recovery of 85%
So , we have 1.95 gms/ ton. X 20 X 85 % = 35 gms per ton which is spot on the
performance reported today.
950,000 tons of head feed is concentrated by a factor of 20 ( ie Mass pull of 5% ) to 47000
tons of concentrate containing 1.1 ounces of gold per ton .
This computes to about 52,000 ounces of gold per year contained within 47000 tons of gold
concentrate
The Feasability Study included Biox and also oxides .
It quoted 60.000 ounces per year in the initial years of production .
So, removing the oxides from the mill feed and 53,000 ounces of sulphide gold produced
per year seems quite good and meets breast plate production rates.
Reducing production by about 10 % for smelting and transportation costs and our net gold
sales will be about 48,000 ounces per year which at current POG of $2259 CAD per ounce
will result in about $105 million CAD in annual revenues.
The FSR analyst report calculated a 30% cash flow margin which is just over $30 million
CAD per year.
As we have nearly $45 million US in forward non capital tax loss pools to offset income
taxes, that amount ($30 m CAD ) is essentially free cash flows.
There will be need for sustaining capital , so remove $5 million for that and we have about
$25 million or about $0.08 per share in free cash flows or equivalently in the absence of
taxes, net earnings
This gets us to about book value of $0.48 per share at a very modest 6 times annual
earnings
So todays NR provided an excellent insight into our FP production outlook .
As importantly , it confirms and conforms quite well with the 2019 Feasability Study which is
quite reassuring.
Considering that we have over $75 million in asset value in our Murchison
Project, Monument is now a screaming buy.
" As of February 22, 2023, a total of 1,707 tonnes of flotation concentrate have been
produced at an average grade of 35.12 g/t Au...1928 ounces of gold"
Comment on this Post
(All time best to make your own DD)
Welcome ; Can we produce/ sell 10,000 ounces in Q3
Q3 is this quarter ending March 31/23.
We have 30 days in March to do so .
Head feed is 3000 tons per day, so if all goes well, we should
produce 90,000 tons of ore in March.
With a mass pull of 5%, that will result in about 4500 tons of
concentrate , containing 1.1 ounces per ton which is
about 5000 ounces of gold.
We have already produced 1829 ounces to date during ramp it ,
up to a week or so ago.
Now, we have ....recalling from memory ..about 3000+ ounces of
bullion in Inventory that was saved from Q2 and
Q3 production in F22..
So, with breast plate production of about 5000 ounces for
March....if no more significant hiccups.. and
nearly 2000 ounces in the bag already ,
along with over 3000 ounces of bullion in our vaults,
we could see up to 10,000 ounces sold in Q3...?..if
all going good -
About $23 million in gross sales .
The FSR projected 22,000 ounces in F 2023.
That looks reasonably certain right now....if ramp up proceeds
without any major hiccups.
This is the best news we have had - so.. more Great PR NEWS
this week at PDAC should be made -
Company Profile & Information (TSXV:MMY)
Contact Information
Address
1100 Melville Street, Suite 1580, Vancouver, BC, CA, V6E 4A6
Telephone
+1 604 638-1661
Website
http://www.monumentmining.com
Fax
+1 604 638-1663
Email
info@monumentmining.com
Details
CEO
Cathy Zhai
Issue Type
Common Stock
ISOCFI
ESVUFR
Auditor
GRANT THORNTON LLP
Last Audit
Unqualified Opinion
Well we have produced 1000 Gold Bars - )
and the next 1000 should go much faster with the new MILL - )
https://monumentmining.com/news-media/photo-gallery/
PennyStockAlert Welcome - Production Restart Will Make The Gold Project Be Worth Easy 10 Times More IMO! - Monument Mining Ltd Also Own The Murchison Gold Mines Project and it is very valuable to
be more developed soon for milling restart -
The construction and commissioning of the new SELINSING GOLD Floatation Plant has
diverted our attention -
including the phase 2 drilling program , but that should change soon.
Our Murchison Gold Project is a premium asset that could be brought to resume
production once cash flows from the Selinsing Gold mine begins to fill our coffers.
Murchison Photo Gallery
https://monumentmining.com/news-media/photo-gallery/
Just below the NOA #1 pit we struck bonanza gold of 4m of 32grams .
This was open to the east , the south and at depth , and ended in mineralization .
Very cheap to access by an existing decline ramp from the pit bottom . And literally a stone
throw from our Burnakurra mill
.
Further , recent and historical drilling has shown that this rich basement lode under pit # 1
extends all the way from NOA pits 1 through 8 .
Average grades below pit #8 is in excess of 6 gms per ton which is very rich compared to
2.9 grams for nearby Big Bell
appear to be joined at depth and open to the north and south . Do they also have grades like
NOA#1 at depth ?
We also discovered potentially new resources at the Junction and have yet to even scratch
the surface at the other 16 shallow targets .
There is also a stockpile of decent grade ore near our Burnakura mill and enough high
grade ore in the historic tailings dump a few kms away to get the mill going
Few other companies can only dream about these assets matched up with a fully
operational mill.
Our 80 % partner ODY has made some truly amazing intersections at Tuckanarra and this
current drill program should lead to a Feasability study.
We know that WestAim is drooling at these 4 tenements owned either 100% by us (2 ) and
20% of the other two with ODY.
We should get an update on our new drilling program when Q2 reports
https://monumentmining.com/projects/murchison-gold-portfolio/
Corporate Presentation December 2022
https://monumentmining.com/site/assets/files/4320/mmy-corporate-presentation-december-2022.pdf
https://monumentmining.com
https://investorshub.advfn.com/Monument-Mining-Ltd-MMY-13403
$In GOD We Trust - Real Money - AU Safety 6000yrs )
https://www.kitconet.com/images/live/au0001wb.gif
https://www.kitconet.com/images/live/ag0001wb.gif
https://www.kitco.com/images/live/gold.gif?0.8344882022363285
https://www.kitco.com/images/live/silver.gif?0.8344882022363285
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
GOLD STANDARD; THE REAL LEGAL MONEY:
[Suppressed Image]
https://www.usdebtclock.org/
https://www.worldometers.info/coronavirus/country/us/
https://www.whatdoesitmean.com/index.htm
God Bless America
$Gold Standard & Large Deposits Of Gold Needed; ARIS Mining Corp. seems so undervalued
this is a valuation only based on production numbers... but ARIS devolopement-pipeline
has a much bigger value .. the vbest part is..they can develope all projects step by step
without the need of external financings... i hope not all warrants will be exercised ->
less dilution of future profits...
additional so this i hope they will start repay the notes soon
by kkkrrr
https://www.aris-mining.com
$Aris Mining Corp. TM RE :The train is leaving the station? $10 coming soon?
Red Cloud raised their price target from $11.50 to $12 on Monday )
with an outperform rating.
by Dom
Well they talking about some of their shares went from pennies to $100s would be nice
with a great repeat )
https://mebfaber.com/2022/07/20/e430-frank-giustra-ian-telfer/
$TM yes; all low ball targets;
$TM Aris Mining Corp. GoldTown44 The train is leaving the station? $10 coming soon?
Noticed this... some price targets from analysts:
Targets:
Cormark: C$10.0
Stifel: C$8.50
NBF: C$5.50
Canaccord: C$7.50
Red Cloud: C$11.00
Haywood: C$6.75
Average: C$8.20
They are aiming for $250,000 ounces of production this year. The team is proven mine
builders and is ramping things up regarding growth prospects.
Gold near all-time highs. Seems like the perfect storm?
geodan Watch; Aris Mining Corp. The genesis of following management for exponential gains
If you haven't already listened to the podcast I'm linking to in this post, do yourself a favor and
take the time to listen carefully to the genesis of Aris Mining.
https://mebfaber.com/2022/07/20/e430-frank-giustra-ian-telfer/
ARIS seems so undervalued
challenger426 just crunched some numbers using the POG around $1900 and ARIS seems
extremely undervalued.
2023 Forecasts include:
230,000-270,000 oz production
$1050 - $1150 AISC
$19M non sustaining CAPEX costs
136M shares outstanding
$1900/oz gold price
Using the above numbers on a worst and best case scenario, I get these share price
forecasts:
$11.48 Worst Case
$15.47 Best Case
Each $100 change in the average price of gold can swing the needle in those scenarios by
$1.50 - $2.00 in the share price value. Therefore, even if the POG fell back to $1700/oz,
ARIS is still undervalued by at least $3/share on a worst case scenario meaning they
produce near the bottom of the range and the AISC comes in near the top of the range for
2023.
Rocket blasting off. Moon mission.
https://www.zerohedge.com/commodities/high-profile-sound-money-bills-introduced-mississippi
$In GOD We Trust - Real Money - AU Safety 6000yrs )
https://www.kitconet.com/images/live/au0001wb.gif
https://www.kitconet.com/images/live/ag0001wb.gif
https://www.kitco.com/images/live/gold.gif?0.8344882022363285
https://www.kitco.com/images/live/silver.gif?0.8344882022363285
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
GOLD STANDARD; THE REAL LEGAL MONEY:
[Suppressed Image]
https://www.usdebtclock.org/
https://www.worldometers.info/coronavirus/country/us/
https://www.whatdoesitmean.com/index.htm
God Bless America
Watch Gold; China just SHOCKED the world and the U.S. is in real trouble | Redacted with Clayton Morris Redacted
1.42M subscribers
Gold Low Cost Producer; The World Is Quickly Approaching A Hyperinflation Disaster
November 09, 2022
https://kingworldnews.com/the-world-is-quickly-approaching-a-hyperinflation-disaster/
GREAT WATCH LIVE: PRESIDENT DONALD J. TRUMP HOLDS RALLY IN MIAMI, FL – 11/6/22
by RSBN
Sunday, November 6, 2022: Join the RSBN broadcast crew LIVE from Miami, FL
for all day coverage of President Donald J. Trump’s “Get Out the Vote Rally” with
Senator Marco…
https://www.rsbnetwork.com/category/video/donald-trump/
DOLLAR TO COLLAPSE! - SAUDI ARABIA TO LEAVE DOLLAR FOR BRICS! - MASSIVE POWER SHIFT!
WATCH
https://www.bitchute.com/video/O9ky2nStDghK/
Thanks Al44
ARIS Great Gold Producer;
https://seekingalpha.com/article/4527727-aris-gold-gcm-mining-merger-makes-sense
Aris Mining Corporation (Aris Mining) (TSX: ARIS) (OTCQX: TPRFF)
Great Gold, Global Population And Propaganda
https://kingworldnews.com/gold-global-population-and-propaganda/
$370 Silver Target, Plus Major Economic Trend Forecasts Issued By Gerald Celente
October 26, 2022
https://kingworldnews.com/370-silver-target-plus-major-economic-trend-forecasts-issued-by-gerald-celente/
Aris Mining Corporation (Aris Mining) (TSX: ARIS) (OTCQX: TPRFF) Highest
Close in 2 Weeks on the ARIS;
The $3.04 close is the highest since October 13th. Maybe the jaded seller
lamenting the loss of the dividend is sold out? With the US dollar index closing
below its 50 dma today, Gold may continue higher and bring a lift to the PM sector.
There are 556,000 shares short as of October 14th (per yahoo finance), which is 3
days of average trading volume. If they were smart, the covered under $3.
We should see the 3Q earnings report next month. I am hoping for a definitive
gold production forecast for 2023 and 2024. Marmato underground operations
and the mill capacity up grade at Segovia from 1500 to 2000 tpd, are near term
drivers for the company.[/b[
by tobinator01 (sth)
Aris Mining appoints Mónica de Greiff as a member of the Board of Directors
October, 04, 2022
VANCOUVER, BC, Oct. 4, 2022 /PRNewswire/ -
Aris Mining Corporation (Aris Mining) (TSX: ARIS) (OTCQX: TPRFF) announces
that, effective October 1, 2022, Mónica de Greiff was appointed as an
independent member of the Board of Directors, and as Chair of the Sustainability
Committee of the Board.
ARIS Mining (CNW Group/Aris Mining Corporation)
Mónica de Greiff was a member of the GCM Mining board of directors from 2018 to 2020, when she left to accept the position of Colombian Ambassador to Kenya. She has held positions in both the public and private sectors, including as Minister of Justice for the Republic of Colombia and Vice Minister of Mines and Energy. Ms. de Greiff is also a former member of the Board of Directors of the United Nations Global Compact, the world's largest corporate sustainability initiative.
Ian Telfer, Chair of Aris Mining, stated "I am delighted to welcome Mónica to our Board of Directors. She brings considerable experience within Colombia and in the highly valued and important area of sustainability. We look forward to her contributions to our business as we continue to grow and enhance our commitment towards ESG."
About Aris Mining
Aris Mining is a Canadian company led by an executive team with a track record
of creating value through building globally relevant mining companies.
In Colombia, Aris Mining operates several high-grade underground mines at its
Segovia Operations and the Marmato Mine, which together produced 230,000
ounces of gold in 2021.
Aris Mining also operates the Soto Norte joint venture, where environmental
licensing is advancing to develop a new underground gold, silver and copper
mine. In Guyana, Aris Mining is advancing the Toroparu Project, a gold/copper
project with expected average gold production of 225,000 per year over the life of
mine. Aris Mining plans to pursue acquisition and other growth opportunities to unlock value creation from scale and diversification.
Aris Mining promotes the formalization of small-scale mining as this process
enables all miners to operate in a legal, safe and responsible manner that protects
them and the environment.
Additional information on Aris Mining can be found at
http://www.aris-mining.com
and www.sedar.com.
https://www.aris-mining.com/operations/operating-mines/segovia/overview/default.aspx
https://www.aris-mining.com/investors/events-and-presentations/default.aspx
https://www.aris-mining.com/news/news-details/2022/Aris-Mining-appoints-Mnica-de-Greiff-as-a-member-of-the-Board-of-Directors/default.aspx
CisionView original content to download multimedia:https://www.prnewswire.com/news-releases/aris-mining-appoints-monica-de-greiff-as-a-member-of-the-board-of-directors-301640112.html
SOURCE Aris Mining Corporation
VIEW ALL NEWS
GCM Mining Corp. (formerly Gran Colombia Gold)
(TSX: GCM / OTCQX: TPRFF)
Accretive Acquisition to Drive Valuation Higher
BUY
https://www.researchfrc.com/wp-content/uploads/2022/08/GCM-Aug-2022-Update-1.pdf?vgo_ee=TMO54WfXmKl1gA%2FTEb1O1%2FlMy%2BOWWuyaZunZiCXh6gI%3D
Current Price: C$3.35
Fair Value: C$10.09
Risk: 3
GCM Mining Corp. PowerPoint Presentation
https://s28.q4cdn.com/389315916/files/doc_downloads/2022/07/Aris-Gold-GCM-presentation-25-July-2022.pdf
$In GOD We Trust - Real Money - AU Safety 6000yrs )
https://www.kitconet.com/images/quotes_7a.gif?1493417496003
https://www.kitco.com/images/live/silver.gif?0.8344882022363285
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
GOLD STANDARD; THE REAL LEGAL MONEY:
https://www.cs.mcgill.ca/~rwest/wikispeedia/wpcd/wp/g/Gold_standard.htm#:~:text=Advocates%20of%20a%20variety%20of,basis%20for%20a%20monetary%20system.
https://www.usdebtclock.org/
https://www.worldometers.info/coronavirus/country/us/
https://www.whatdoesitmean.com/index.htm
God Bless.America
https://www.silverdoctors.com/headlines/world-news/u-s-dollar-to-collapse-saudi-arabia-to-leave-the-dollar-for-brics-in-massive-power-shift/
KICK1; Aris Mining Corporation (Aris Mining) (TSX: ARIS) (OTCQX: TPRFF)
Low Bargain Close -
We should see the 3Q earnings report Nov. I am hoping for a definitive
gold production forecast for 2023 and 2024.
Marmato underground operations and the mill capacity up grade at Segovia
from 1500 to 2000 tpd, are near term
drivers for the company.
Aris Mining appoints Mónica de Greiff as a member of the Board of Directors
October, 04, 2022
VANCOUVER, BC, Oct. 4, 2022 /PRNewswire/ -
Aris Mining Corporation (Aris Mining) (TSX: ARIS) (OTCQX: TPRFF) announces
that, effective October 1, 2022, Mónica de Greiff was appointed as an
independent member of the Board of Directors, and as Chair of the Sustainability
Committee of the Board.
ARIS Mining (CNW Group/Aris Mining Corporation)
Mónica de Greiff was a member of the GCM Mining board of directors from 2018 to 2020, when she left to accept the position of Colombian Ambassador to Kenya. She has held positions in both the public and private sectors, including as Minister of Justice for the Republic of Colombia and Vice Minister of Mines and Energy. Ms. de Greiff is also a former member of the Board of Directors of the United Nations Global Compact, the world's largest corporate sustainability initiative.
Ian Telfer, Chair of Aris Mining, stated "I am delighted to welcome Mónica to our Board of Directors. She brings considerable experience within Colombia and in the highly valued and important area of sustainability. We look forward to her contributions to our business as we continue to grow and enhance our commitment towards ESG."
About Aris Mining
Aris Mining is a Canadian company led by an executive team with a track record
of creating value through building globally relevant mining companies.
In Colombia, Aris Mining operates several high-grade underground mines at its
Segovia Operations and the Marmato Mine, which together produced 230,000
ounces of gold in 2021.
Aris Mining also operates the Soto Norte joint venture, where environmental
licensing is advancing to develop a new underground gold, silver and copper
mine. In Guyana, Aris Mining is advancing the Toroparu Project, a gold/copper
project with expected average gold production of 225,000 per year over the life of
mine. Aris Mining plans to pursue acquisition and other growth opportunities to unlock value creation from scale and diversification.
Aris Mining promotes the formalization of small-scale mining as this process
enables all miners to operate in a legal, safe and responsible manner that protects
them and the environment.
Additional information on Aris Mining can be found at
http://www.aris-mining.com
and www.sedar.com.
https://www.aris-mining.com/operations/operating-mines/segovia/overview/default.aspx
https://www.aris-mining.com/investors/events-and-presentations/default.aspx
https://www.aris-mining.com/news/news-details/2022/Aris-Mining-appoints-Mnica-de-Greiff-as-a-member-of-the-Board-of-Directors/default.aspx
CisionView original content to download multimedia:https://www.prnewswire.com/news-releases/aris-mining-appoints-monica-de-greiff-as-a-member-of-the-board-of-directors-301640112.html
SOURCE Aris Mining Corporation
VIEW ALL NEWS
GCM Mining Corp. (formerly Gran Colombia Gold)
(TSX: GCM / OTCQX: TPRFF)
Accretive Acquisition to Drive Valuation Higher
BUY
https://www.researchfrc.com/wp-content/uploads/2022/08/GCM-Aug-2022-Update-1.pdf?vgo_ee=TMO54WfXmKl1gA%2FTEb1O1%2FlMy%2BOWWuyaZunZiCXh6gI%3D
Current Price: C$3.35
Fair Value: C$10.09
Risk: 3
GCM Mining Corp. PowerPoint Presentation
https://s28.q4cdn.com/389315916/files/doc_downloads/2022/07/Aris-Gold-GCM-presentation-25-July-2022.pdf
$2.5 Quadrillion Disaster Waiting to Happen – Egon von Greyerz
By Greg Hunter On November 1, 2022 In Market Analysis 98 Comments
https://usawatchdog.com/2-5-quadrillion-disaster-waiting-to-happen-egon-von-greyerz/
$In GOD We Trust - Real Money - AU Safety 6000yrs )
https://www.kitconet.com/images/quotes_7a.gif?1493417496003
https://www.kitco.com/images/live/silver.gif?0.8344882022363285
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
GOLD STANDARD; THE REAL LEGAL MONEY:
https://www.cs.mcgill.ca/~rwest/wikispeedia/wpcd/wp/g/Gold_standard.htm#:~:text=Advocates%20of%20a%20variety%20of,basis%20for%20a%20monetary%20system.
https://www.usdebtclock.org/
https://www.worldometers.info/coronavirus/country/us/
https://www.whatdoesitmean.com/index.htm
God Bless.America
PennyStock Thanks; https://www.rsbnetwork.com/video/watch-live-president-donald-j-trump-holds-save-america-rally-in-vandalia-oh-11-7-22/
Some new pictures, so pieces from china arrived i think
https://monumentmining.com/news-media/photo-gallery/
GoldSeek Radio Nugget
GoldSeek Radio Nugget -- Peter Schiff: Gold is going to take-off and mining stocks
will go ballistic
November 06, 2022
Profile picture for user Chris Waltzek
https://goldseek.com/sites/default/files/styles/thumbnail/public/pictures/2020-08/WALTZEK_1.jpg?itok=pEXxIBSP
Chris Waltzek
GoldSeek Radio
154 Shares
https://sp.rmbl.ws/s8/2/A/2/d/y/A2dyg.caa.mp4?u=4&b=0
facebook-white sharing button twitter-white sharing button linkedin-white sharing button telegram-white sharing button email-white sharing button print-white sharing button
GoldSeek Radio Nugget -- Peter Schiff: Gold is going to take-off and mining stocks will go ballistic
Head of SchiffGold.com
Peter Schiff...
00:25 - Gold +$50 today...
03:40 - Specific Gold and Silver stocks.
06:23 - Gold is going to take-off and mining stocks will go ballistic.
........ Richard (sth)
https://stockhouse.com/companies/bullboard/v.mmy/monument-mining-ltd?postid=35080317
ARIS Large Gold Position Needed By US Gold Standard -
PEACE LOVE MUST WATCH LIVE: PRESIDENT DONALD J. TRUMP HOLDS SAVE AMERICA RALLY IN LATROBE, PA – 11/5/22
by RSBN
https://www.rsbnetwork.com/video/watch-live-president-donald-j-trump-holds-save-america-rally-in-latrobe-pa-11-5-22/
Saturday, November 5, 2022: Join the RSBN broadcast crew LIVE from Latrobe,
PA for all day coverage of President Donald J. Trump’s SAVE AMERICA rally.
President Donald J. Trump, 45th President of the United States of America, will
hold a rally in Latrobe, Pennsylvania on Saturday, November 5, 2022, at 7:00PM EDT.
Saturday, November 5, 2022, at 7:00PM EDT
GOLD SURGES $55: Nomi Prins Says China & Russia Will Use Their Massive Gold Hoards To Form A New Currency
November 05, 2022
https://kingworldnews.com/gold-surges-55-nomi-prins-says-china-russia-will-use-their-massive-gold-hoards-to-form-a-new-currency/
BOMBSHELL: Dr. David E. Martin Gives Explosive Jaw Dropping Info!
Patriots Base Published November 4, 2022
https://rumble.com/v1rff5c-bombshell-dr.-david-e.-martin-gives-explosive-jaw-dropping-info.html
Derek Johnson: Intel: Law & Order, Trump, Midterm - What's Next?
Patriots Base Published November 3, 2022
https://rumble.com/v1r86ey-derek-johnson-intel-law-and-order-trump-midterm-whats-next.html
Situation Update: Worldwide Military Coups Activated! DOD Law Of War Activated!
Patriots Base Published November 3
https://rumble.com/v1r7q7m-situation-update-worldwide-military-coups-activated-dod-law-of-war-activate.html
https://www.rsbnetwork.com/video/watch-live-president-donald-j-trump-holds-save-america-rally-in-sioux-city-ia-11-3-22/
KICK1 or anyone; please; what about; The Great Unwind II
Nov 2, 2022
·
Alasdair Macleod
With price inflation rising out of control and interest rates rising strongly, the trading
environment for commercial banks has fundamentally changed.
With bad debts looming and bond prices in entrenched downtrends,
procrastination is now the enemy of bankers.
We are at the beginning of The Great Unwind, and this article elaborates on my
first article for Goldmoney on the subject published here.
https://www.goldmoney.com/research/the-great-unwind-1?gmrefcode=gata
Aris Mining Corporation (Aris Mining) (TSX: ARIS) (OTCQX: TPRFF)
Low Bargain Close -
We should see the 3Q earnings report next month. I am hoping for a definitive
gold production forecast for 2023 and 2024.
Marmato underground operations and the mill capacity up grade at Segovia
from 1500 to 2000 tpd, are near term
drivers for the company.[/b[
b]Aris Mining appoints Mónica de Greiff as a member of the Board of Directors
October, 04, 2022
VANCOUVER, BC, Oct. 4, 2022 /PRNewswire/ -
Aris Mining Corporation (Aris Mining) (TSX: ARIS) (OTCQX: TPRFF) announces
that, effective October 1, 2022, Mónica de Greiff was appointed as an
independent member of the Board of Directors, and as Chair of the Sustainability
Committee of the Board.
ARIS Mining (CNW Group/Aris Mining Corporation)
Mónica de Greiff was a member of the GCM Mining board of directors from 2018 to 2020, when she left to accept the position of Colombian Ambassador to Kenya. She has held positions in both the public and private sectors, including as Minister of Justice for the Republic of Colombia and Vice Minister of Mines and Energy. Ms. de Greiff is also a former member of the Board of Directors of the United Nations Global Compact, the world's largest corporate sustainability initiative.
Ian Telfer, Chair of Aris Mining, stated "I am delighted to welcome Mónica to our Board of Directors. She brings considerable experience within Colombia and in the highly valued and important area of sustainability. We look forward to her contributions to our business as we continue to grow and enhance our commitment towards ESG."
About Aris Mining
Aris Mining is a Canadian company led by an executive team with a track record
of creating value through building globally relevant mining companies.
In Colombia, Aris Mining operates several high-grade underground mines at its
Segovia Operations and the Marmato Mine, which together produced 230,000
ounces of gold in 2021.
Aris Mining also operates the Soto Norte joint venture, where environmental
licensing is advancing to develop a new underground gold, silver and copper
mine. In Guyana, Aris Mining is advancing the Toroparu Project, a gold/copper
project with expected average gold production of 225,000 per year over the life of
mine. Aris Mining plans to pursue acquisition and other growth opportunities to unlock value creation from scale and diversification.
Aris Mining promotes the formalization of small-scale mining as this process
enables all miners to operate in a legal, safe and responsible manner that protects
them and the environment.
Additional information on Aris Mining can be found at
http://www.aris-mining.com
and www.sedar.com.
https://www.aris-mining.com/operations/operating-mines/segovia/overview/default.aspx
https://www.aris-mining.com/investors/events-and-presentations/default.aspx
https://www.aris-mining.com/news/news-details/2022/Aris-Mining-appoints-Mnica-de-Greiff-as-a-member-of-the-Board-of-Directors/default.aspx
CisionView original content to download multimedia:https://www.prnewswire.com/news-releases/aris-mining-appoints-monica-de-greiff-as-a-member-of-the-board-of-directors-301640112.html
SOURCE Aris Mining Corporation
VIEW ALL NEWS
GCM Mining Corp. (formerly Gran Colombia Gold)
(TSX: GCM / OTCQX: TPRFF)
Accretive Acquisition to Drive Valuation Higher
BUY
https://www.researchfrc.com/wp-content/uploads/2022/08/GCM-Aug-2022-Update-1.pdf?vgo_ee=TMO54WfXmKl1gA%2FTEb1O1%2FlMy%2BOWWuyaZunZiCXh6gI%3D
Current Price: C$3.35
Fair Value: C$10.09
Risk: 3
GCM Mining Corp. PowerPoint Presentation
https://s28.q4cdn.com/389315916/files/doc_downloads/2022/07/Aris-Gold-GCM-presentation-25-July-2022.pdf
$In GOD We Trust - Real Money - AU Safety 6000yrs )
https://www.kitconet.com/images/quotes_7a.gif?1493417496003
https://www.kitco.com/images/live/silver.gif?0.8344882022363285
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
GOLD STANDARD; THE REAL LEGAL MONEY:
https://www.cs.mcgill.ca/~rwest/wikispeedia/wpcd/wp/g/Gold_standard.htm#:~:text=Advocates%20of%20a%20variety%20of,basis%20for%20a%20monetary%20system.
https://www.usdebtclock.org/
https://www.worldometers.info/coronavirus/country/us/
https://www.whatdoesitmean.com/index.htm
God Bless.America
Aris Mining Corporation (Aris Mining) (TSX: ARIS) (OTCQX: TPRFF)
Low Bargain Close -
We should see the 3Q earnings report Nov. I am hoping for a definitive
gold production forecast for 2023 and 2024.
Marmato underground operations and the mill capacity up grade at Segovia
from 1500 to 2000 tpd, are near term
drivers for the company.
Aris Mining appoints Mónica de Greiff as a member of the Board of Directors
October, 04, 2022
VANCOUVER, BC, Oct. 4, 2022 /PRNewswire/ -
Aris Mining Corporation (Aris Mining) (TSX: ARIS) (OTCQX: TPRFF) announces
that, effective October 1, 2022, Mónica de Greiff was appointed as an
independent member of the Board of Directors, and as Chair of the Sustainability
Committee of the Board.
ARIS Mining (CNW Group/Aris Mining Corporation)
Mónica de Greiff was a member of the GCM Mining board of directors from 2018 to 2020, when she left to accept the position of Colombian Ambassador to Kenya. She has held positions in both the public and private sectors, including as Minister of Justice for the Republic of Colombia and Vice Minister of Mines and Energy. Ms. de Greiff is also a former member of the Board of Directors of the United Nations Global Compact, the world's largest corporate sustainability initiative.
Ian Telfer, Chair of Aris Mining, stated "I am delighted to welcome Mónica to our Board of Directors. She brings considerable experience within Colombia and in the highly valued and important area of sustainability. We look forward to her contributions to our business as we continue to grow and enhance our commitment towards ESG."
About Aris Mining
Aris Mining is a Canadian company led by an executive team with a track record
of creating value through building globally relevant mining companies.
In Colombia, Aris Mining operates several high-grade underground mines at its
Segovia Operations and the Marmato Mine, which together produced 230,000
ounces of gold in 2021.
Aris Mining also operates the Soto Norte joint venture, where environmental
licensing is advancing to develop a new underground gold, silver and copper
mine. In Guyana, Aris Mining is advancing the Toroparu Project, a gold/copper
project with expected average gold production of 225,000 per year over the life of
mine. Aris Mining plans to pursue acquisition and other growth opportunities to unlock value creation from scale and diversification.
Aris Mining promotes the formalization of small-scale mining as this process
enables all miners to operate in a legal, safe and responsible manner that protects
them and the environment.
Additional information on Aris Mining can be found at
http://www.aris-mining.com
and www.sedar.com.
https://www.aris-mining.com/operations/operating-mines/segovia/overview/default.aspx
https://www.aris-mining.com/investors/events-and-presentations/default.aspx
https://www.aris-mining.com/news/news-details/2022/Aris-Mining-appoints-Mnica-de-Greiff-as-a-member-of-the-Board-of-Directors/default.aspx
CisionView original content to download multimedia:https://www.prnewswire.com/news-releases/aris-mining-appoints-monica-de-greiff-as-a-member-of-the-board-of-directors-301640112.html
SOURCE Aris Mining Corporation
VIEW ALL NEWS
GCM Mining Corp. (formerly Gran Colombia Gold)
(TSX: GCM / OTCQX: TPRFF)
Accretive Acquisition to Drive Valuation Higher
BUY
https://www.researchfrc.com/wp-content/uploads/2022/08/GCM-Aug-2022-Update-1.pdf?vgo_ee=TMO54WfXmKl1gA%2FTEb1O1%2FlMy%2BOWWuyaZunZiCXh6gI%3D
Current Price: C$3.35
Fair Value: C$10.09
Risk: 3
GCM Mining Corp. PowerPoint Presentation
https://s28.q4cdn.com/389315916/files/doc_downloads/2022/07/Aris-Gold-GCM-presentation-25-July-2022.pdf
$In GOD We Trust - Real Money - AU Safety 6000yrs )
https://www.kitconet.com/images/quotes_7a.gif?1493417496003
https://www.kitco.com/images/live/silver.gif?0.8344882022363285
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
GOLD STANDARD; THE REAL LEGAL MONEY:
https://www.cs.mcgill.ca/~rwest/wikispeedia/wpcd/wp/g/Gold_standard.htm#:~:text=Advocates%20of%20a%20variety%20of,basis%20for%20a%20monetary%20system.
https://www.usdebtclock.org/
https://www.worldometers.info/coronavirus/country/us/
https://www.whatdoesitmean.com/index.htm
God Bless.America
Gold Standard Legal Tender & Gold, Global Population And Propaganda
https://kingworldnews.com/gold-global-population-and-propaganda/
$370 Silver Target, Plus Major Economic Trend Forecasts Issued By Gerald Celente
October 26, 2022
https://kingworldnews.com/370-silver-target-plus-major-economic-trend-forecasts-issued-by-gerald-celente/
Aris Mining Corporation (Aris Mining) (TSX: ARIS) (OTCQX: TPRFF) Highest
Close in 2 Weeks on the ARIS;
The $3.04 close is the highest since October 13th. Maybe the jaded seller
lamenting the loss of the dividend is sold out? With the US dollar index closing
below its 50 dma today, Gold may continue higher and bring a lift to the PM sector.
There are 556,000 shares short as of October 14th (per yahoo finance), which is 3
days of average trading volume. If they were smart, the covered under $3.
We should see the 3Q earnings report next month. I am hoping for a definitive
gold production forecast for 2023 and 2024. Marmato underground operations
and the mill capacity up grade at Segovia from 1500 to 2000 tpd, are near term
drivers for the company.[/b[
by tobinator01 (sth)
Aris Mining appoints Mónica de Greiff as a member of the Board of Directors
October, 04, 2022
VANCOUVER, BC, Oct. 4, 2022 /PRNewswire/ -
Aris Mining Corporation (Aris Mining) (TSX: ARIS) (OTCQX: TPRFF) announces
that, effective October 1, 2022, Mónica de Greiff was appointed as an
independent member of the Board of Directors, and as Chair of the Sustainability
Committee of the Board.
ARIS Mining (CNW Group/Aris Mining Corporation)
Mónica de Greiff was a member of the GCM Mining board of directors from 2018 to 2020, when she left to accept the position of Colombian Ambassador to Kenya. She has held positions in both the public and private sectors, including as Minister of Justice for the Republic of Colombia and Vice Minister of Mines and Energy. Ms. de Greiff is also a former member of the Board of Directors of the United Nations Global Compact, the world's largest corporate sustainability initiative.
Ian Telfer, Chair of Aris Mining, stated "I am delighted to welcome Mónica to our Board of Directors. She brings considerable experience within Colombia and in the highly valued and important area of sustainability. We look forward to her contributions to our business as we continue to grow and enhance our commitment towards ESG."
About Aris Mining
Aris Mining is a Canadian company led by an executive team with a track record
of creating value through building globally relevant mining companies.
In Colombia, Aris Mining operates several high-grade underground mines at its
Segovia Operations and the Marmato Mine, which together produced 230,000
ounces of gold in 2021.
Aris Mining also operates the Soto Norte joint venture, where environmental
licensing is advancing to develop a new underground gold, silver and copper
mine. In Guyana, Aris Mining is advancing the Toroparu Project, a gold/copper
project with expected average gold production of 225,000 per year over the life of
mine. Aris Mining plans to pursue acquisition and other growth opportunities to unlock value creation from scale and diversification.
Aris Mining promotes the formalization of small-scale mining as this process
enables all miners to operate in a legal, safe and responsible manner that protects
them and the environment.
Additional information on Aris Mining can be found at
http://www.aris-mining.com
and www.sedar.com.
https://www.aris-mining.com/operations/operating-mines/segovia/overview/default.aspx
https://www.aris-mining.com/investors/events-and-presentations/default.aspx
https://www.aris-mining.com/news/news-details/2022/Aris-Mining-appoints-Mnica-de-Greiff-as-a-member-of-the-Board-of-Directors/default.aspx
CisionView original content to download multimedia:https://www.prnewswire.com/news-releases/aris-mining-appoints-monica-de-greiff-as-a-member-of-the-board-of-directors-301640112.html
SOURCE Aris Mining Corporation
VIEW ALL NEWS
GCM Mining Corp. (formerly Gran Colombia Gold)
(TSX: GCM / OTCQX: TPRFF)
Accretive Acquisition to Drive Valuation Higher
BUY
https://www.researchfrc.com/wp-content/uploads/2022/08/GCM-Aug-2022-Update-1.pdf?vgo_ee=TMO54WfXmKl1gA%2FTEb1O1%2FlMy%2BOWWuyaZunZiCXh6gI%3D
Current Price: C$3.35
Fair Value: C$10.09
Risk: 3
GCM Mining Corp. PowerPoint Presentation
https://s28.q4cdn.com/389315916/files/doc_downloads/2022/07/Aris-Gold-GCM-presentation-25-July-2022.pdf
$In GOD We Trust - Real Money - AU Safety 6000yrs )
https://www.kitconet.com/images/quotes_7a.gif?1493417496003
https://www.kitco.com/images/live/silver.gif?0.8344882022363285
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
GOLD STANDARD; THE REAL LEGAL MONEY:
https://www.cs.mcgill.ca/~rwest/wikispeedia/wpcd/wp/g/Gold_standard.htm#:~:text=Advocates%20of%20a%20variety%20of,basis%20for%20a%20monetary%20system.
https://www.usdebtclock.org/
https://www.worldometers.info/coronavirus/country/us/
https://www.whatdoesitmean.com/index.htm
God Bless.America
Can gold and silver stocks expect +5,000% returns again?
An astute investor could have turned $10,000 into more than $7 million
With what has happened in the world of late and what will be unfolding in the next five years or so those few investors who fully understand the impact the current economic situation is going to have on future inflation, the USD, interest rates, the stock market, physical gold and silver and gold and silver stocks and warrants in particular are going to be in the unique position of being the benefactors of currently unimaginable returns and wealth. All they need do, as I like to say, is “Just prepare and prosper!”
Back in the mid- to late 1970’s, as gold went up from its 1972 low of $60 to $850 in 1980 (and silver to $50), gold and silver stocks realized absolutely amazing gains:
· Lion Mines – 1975 price: $0.07 / 1980 price: $380 i.e. an increase of 542,757%.
· Azure Resources - 1975 price: $.05 / 1980 price: $109 i.e. an increase of 217,900%.
· Wharf Resources - 1975 price: $.40 / 1980 price: $560 i.e. an increase of 139,000%.
· Mineral Resources - 1975 price: $.60 / 1980 price: $415 i.e. an increase of 69,067%.
· Steep Rock - 1975 price: $.93 / 1980 price: $440 i.e. an increase of 47,212%.
· Bankeno - 1975 price: $1.25 / 1980 price: $430 i.e. an increase of 34,300%.
The percentage returns above, averaging 70,627%, seem totally unbelievable but they are verifiable. They were achieved by investing in the right stocks at the right time. Imagine, and the above companies were only a handful of the gold and silver stocks that generated such astounding returns.
To put things in perspective let’s look at it this way. Had an astute investor divided a $10,000 investment equally among the six companies mentioned above in 1975 it would have grown to $7,072,700 just five years later. I can’t imagine that ever happening again but that is what actually happened back then. It is absolutely amazing, isn’t it? Even a 10,000% appreciation would have turned that $10,000 into $1 million dollars.
Remember, it only takes a few good investment decisions in one’s life to be exceedingly successful and that was such a time....
Full article at: http://www.stockhouse.com//Columnists/2009/Oct/6/Can-gold-and-silver-stocks-expect--5,000--returns-
kiwi
Report TOS
Monster nugget discovered in Butte, CA foothills
https://www.youtube.com/watch?v=-Q8e9Mid3Dk
Thracian Gold Treasure Discovered in Bulgaria (Pictures)
http://news.nationalgeographic.com/news/2012/11/pictures/121109-thracian-gold-hoard-treasure-bulgaria-science/
Gold treasure found in ocean...
http://www.cnn.com/video/data/2.0/video/us/2014/07/31/pkg-gold-treasure-discovered-ocean-florida.wpbf.html
I was doing my research at the time the gold prices were peaking, almost breaking $1700/oz. I sold 22 oz. for $1,640/oz, not a bad price considering the year I started prospecting, the gold price was $180 something an oz, if I remember correctly. 23 seasons of dredging.....
Although I had title the board Bold Bullion, it was, at the time, I was researching the price gold and seeking awareness of the market factors influencing gold prices.
I have now sold all my placer gold I recovered over the years and am becoming interested in the game of gold again, and may be seeking others with similar interests.
This board was enititated quite awhile ago when I was getting ready to sell my placer gold from years of dredging. I am thinking about activating it again.
Gold nugget worth $300,000 discovered in Australia
By Ramy Inocencio, for CNN
updated 4:04 AM EST, Fri January 18, 2013
(CNN) -- One Australian gold prospector has hit pay dirt.
The man, described as an amateur explorer who wants to remain anonymous, unearthed a 5.5 kilogram golden nugget 60 centimeters in the ground outside Ballarat, a city about an hour and a half drive west of Melbourne.
Experts say the value of the find is at least $300,000.
"He came in to my shop at 12:30 p.m. on Wednesday and had a grin from ear to ear," Cordell Kent, owner of The Mining Exchange Gold Shop, told CNN. "His eyes were sparkling."
The 47-year resident of Ballarat says that gold has been continuously found in the region since 1851, but technology has recently become an essential aid for modern prospectors.
"In the last 10 years it's gotten very, very hard to find nuggets over a kilo, so this (5.5 kilogram) one is extremely rare," says Kent. "In the old days miners could only see or feel gold - but now with detectors they can hear it."
A Minelab GPX Model 5000 metal detector was used to find the nugget, Kent says. In Australia, the machine retails for nearly $7,000, according to Gary Shmith, Minelab's General Manager for the Asia Pacific.
Shmith expects collectors may already be eyeing a potential purchase of the Ballarat nugget because of its rarity.
"My guess is that it would sell at 20% or 30% above its weight in gold. A nice, small nugget would already sell for 10% to 15% above its weight in gold."
Kent says the lucky prospector is back at work, "detecting right as we speak."
"He doesn't want anyone to know his bit of ground. There are only four people who know that he found it -- he and his wife and me and my wife. And he's hoping the one he found this week is a small piece and that there are bigger ones still out there."
While many people in the region have been searching for gold for decades, Kent's friend only started last year.
Other prospectors -
http://www.cnn.com/2013/01/18/business/australia-gold-nugget-discovery/index.html?hpt=hp_c3
Fancy a chunk? No, it's not chocolate... lol
http://www.dailymail.co.uk/sciencetech/article-2251757/Fancy-chunk-No-chocolate--Its-future-money-euro-goes-under.html
CALVF $GOLD LT, the global financial crisis will probably push Gold
thousands of dollars higher - In the shorter term -
rising commodity prices are Gold's best friend -
E.g.,
Most importantly, a large CRB index rally could be -
the catalyst that blasts Gold up -
out of its 10 month "super-wedge" consolidation pattern -
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=76118595
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=77214768
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=77192196
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=77294660
High Risk Paying High REWARDS -
Iceland boasts a 4.5% growth rate -- the best in the Eurozone -
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=77290131
God Bless
ST. ANDREW GOLDFIELDS (TSE:SAS)
http://www.sasgoldmines.com/i/pdf/Presentation.pdf
http://www.sasgoldmines.com/s/Home.asp
http://www.sasgoldmines.com/s/History.asp
Welcome To QMX Gold Corporation
QMX Gold Corporation is a dynamic and aggressive mining company
operating in Canada’s richest mining regions in Val-d’Or Quebec and
Snow Lake, Manitoba.
Gold production is a priority as QMX continues underground
operations at its Lac Herbin Mine and will be ramping up to mid-
tier productions levels with its Snow Lake Mine.
Exploration efforts are focused in the mineral rich Abitibi
District of Northern Quebec where the company has 100% ownership
of over 200 sq. km.
The company is also exploring its 88 sq. km property in
Snow Lake where historic production exceeded 1 million ounces.
LEARN MORE
http://alexisminerals.com/English/Investor-Centre/News/News-Details/2012/QMX-Gold-Corporation-to-Begin-Trading-on-the-TSX1130072/default.aspx
http://alexisminerals.com/Theme/Alexis/files/Alexis%20Marketing%20Presentation_JUL142012_v001_w3z9b7.pdf
http://www.alexisminerals.com/
http://alexisminerals.com/Our-Company/Corporate-profile/default.aspx
http://alexisminerals.com/Theme/Alexis/files/201207%20QMX%20Fact%20Sheet_v001_t88428.pdf
Goldcorp Incorporate (GG) fiat$37.58 UP $1.48 +4.10%
Volume: 5,711,787 @ 4:42:10 PM ET STRONG DEMAND
Bid Ask Day's Range
- - 36.91 - 37.8
GG Detailed Quote Wiki
BIX WEIR Q's Answered: -- The Future -
Gold bugs need help from Fed
By Paul R. La Monica
June 20, 2012: 1:40 PM ET
Scrooge McDuck and other gold fans may want to hold off on diving into the metal until the Fed announces more stimulus.
Gold has enjoyed a mini-rally in the past few weeks even as other commodities have plunged on continued concerns about the health of the global economy.
Through Tuesday's close, gold was up 2% since mid-May. Meanwhile, prices of the far more useful copper were down 3%. Corn futures are down 4%. Other demand-sensitive commodities like oil and wheat have each fallen nearly 10%. And coffee is in decaf mode. Prices have tumbled more than 15%.
But hopes for a sustained rally in the yellow metal pretty much begin and end with the Federal Reserve. Gold is viewed as a classic inflation hedge and any further stimulus from the Fed during the next few months would likely be viewed as bad for the dollar and good for gold.
Investors are clearly betting that the crisis in Europe, slowdown in China and continued sluggishness in the U.S. (Is that some dry rub I see on the job market? Yes kids, we're still in a low and slow BBQ recovery!) will eventually lead the Fed to do a lot more to lift the financial markets (and perhaps even the economy) out of its funk.
But the market didn't get what it wanted Wednesday. The Fed simply decided to extend its Operation Twist program (swapping short-term bonds for longer-term debt) instead of announcing a third round of quantitative easing, or QE3. Gold was trading about 1% lower prior to the Fed announcement and continued to drop in mid-afternoon trading.
Gold bugs obviously want (and need) the Fed to be more aggressive. Still, it's not clear just how high gold could really go in the coming months even if the Fed eventually changes its tune on the need for QE3. While more Fed accommodation should, in theory, be a plus for gold, the reasons that the Fed needs to consider more bond purchases in the first place is not positive for gold.
Sure, gold does tend to rise and fall in line with inflation expectations. But you can't completely remove the Economics 101 law of supply and demand from the investing equation. As I pointed out in a column last month, the awful conditions in Europe may lead to a prolonged period of "Au"-sterity for the metal, especially if the PIIGS pain is followed by reduced purchases of gold from Europe's biggest trading partner China and, to a lesser extent, India.
Given all the chatter about central banks around the world potentially easing en masse, it's a bit surprising that gold hasn't rallied even harder than it has in the past month. In fact, the SPDR Gold Shares Trust ETF (GLD) has lagged the S&P 500 (SPX) during the past month.
Richard Ross, global technical strategist with Auerbach Grayson in New York, points out that gold actually has been a disappointing investment if you back out its nearly 4% jump on June 1 -- the day when a woeful U.S. jobs report kicked QE3 talk into high gear.
The lack of a bigger jump in gold is also unusual when you look at what the dollar has done lately.
The greenback has weakened against the euro in recent weeks as the favorable (for now) outcome to the elections in Greece and hopes that European leaders will eventually step in with a formal plan to save Spain and Italy (unveiled at next week's ubiquitous EU summit perhaps?) have boosted the odds of the euro currency surviving in its current form.
Ashraf Laidi, chief global strategist with City Index Ltd. in London, wrote in a report Wednesday that gold may now be "out of touch" with the euro. With so many investors flocking into U.S. debt simply because they are not Southern European bonds, yields have plummeted to ridiculously low levels. If the safe haven trade is finally unwinding, 10-year Treasury yields may have nowhere to go but up -- even if the euro gains more ground versus the dollar.
So much for a weaker dollar being good news for gold.
"Gold has not been able to build on its gains and that is somewhat curious," Ross said. But he added that all it may take for gold to break through technical levels of $1630 and start climbing even higher is for more hints from Bernanke about additional stimulus.
Unless the U.S. economy roars to life in the coming months, there's still a good chance that those hints will come. Keep in mind that the Bernanke playbook for the past few years has been to sit patiently during the summer to see if the economy still needs a jolt following the typical May-July slump. The answer was yes in 2010 and last year. It may be yes again this year.
With that in mind, Bernanke likely will tip his hand about what the Fed plans to do next at its annual confab in Jackson Hole, Wyoming in August. That's where Bernanke introduced the notion of QE2 in August 2010 and it's where he teased the idea of Operation Twist last year.
Marshall Berol, c0-manager of the Encompass Fund (ENCPX) in San Francisco, considers himself a gold bull and he expects that an eventual Fed move will be a catalyst to lift gold to new highs near $2000 an ounce.
"Gold has come down enough from its highs that it should find a base and resume its upward move," he said.
But Berol, who prefers to invest in mining companies as opposed to actual metals, said that firms like Freeport-McMoRan Copper & Gold (FCX), which he owns in the fund, may be better bets than the metal. That approach may make more sense than trying to invest in gold itself.
Mining companies have actually outperformed gold lately. The Market Vectors Gold Miners ETF (GDX), which owns big stakes in industry leaders like Barrick Gold (ABX), Goldcorp (GG), Newmont Mining (NEM) and AngloGold Ashanti (AU), is up more than 10% in the past month. And those four stocks, as well as Freeport-McMoRan, all pay dividends to boot.
Frank Holmes, chief investment officer of U.S. Global Investors in San Antonio and the author of the book "The Goldwatcher," also likes gold miners that pay dividends. His firm owns shares of Franco-Nevada (FNV), Yamana Gold (AUY) and Randgold (GOLD) and he said the lack of QE3 for now does not mean gold's run is over.
"The fear trade for gold is that the government is devaluing the dollar. That has not gone away," he said.
So if you think gold may soon be heading higher, you may want to consider miners instead. Time to channel my inner Warren Buffett here. Good luck trying to get quarterly dividend payments from a cube of bullion.
http://buzz.money.cnn.com/2012/06/20/gold-bugs-need-help-from-fed/?iid=EL
A Byproduct Of Twist? Gold Manipulation
June 18, 2012
Gary Tanashian | includes: GLD As Greece took the spotlight last week, there was an auction going on in the U.S.: "Treasurys rise after record-setting auction."
Our great nation sold more bonds (aka debt) last week to keep itself afloat. Demand was strong.
10 and 30 year bonds were peddled with the Fed on the bid, either in action or in implied waiting.
"On Tuesday, the government garnered weak demand at its sale of 3-year notes. That could have been due to expectations for more Twist from the Fed, which may entail selling that maturity. That logic would also have lent support for the 10-year auction, and presumably the long bond sale in the coming session."
The indisputable message of this chart is that gold generally goes in alignment with the 30 year/2 year yield spread.
What a world; all a great and powerful entity has to do is cannibalize the unproductive legacy debt of the nation, eating what suits him (long term bonds) and serving what doesn't to others (short term bonds) in hopes that they eat the stuff. They are hopped up on deflation fear after all. They'll eat anything that is "risk off" after all.
Point is, we have been following the correlation between gold and the 30-2 spread for many weeks now in NFTRH. The gold correction out of the hysterical phase of the euro crisis was very normal and indeed, expected. But the normal correction was then aided and abetted by the Fed's stated intention of Twisting (aka sanitizing*) its monetization of Treasury debt.
Really, how long can they keep it up? The fact is that whether they Twist again or go for the good old fashioned straight on monetization, we are off the charts and officials are just rearranging deck chairs on the Titanic as far as inflation is concerned. They have been, are and will likely continue to ram inflation into the pipeline through whatever means suits the agenda in the best way.
It will be interesting to see if gold obediently maintains the correlation. When the Twist manipulation scheme was originally cooked up and served in September, all the over bought metal needed was a shove in a southerly direction to get it to go with the program. Now, after what would qualify as a healthy intermediate correction, doing the Twist may not work as well.
Several points of analysis point toward this being a pivotal and very interesting summer; and not in a bearish way either. Real inflators may yet stand up and be counted instead of hiding behind intricate schemes and half measures. Watch the gold sector for clues coming out of what could be a volatile June. We will be keeping an eye on various components of the macro market.
http://seekingalpha.com/article/667191-a-byproduct-of-twist-gold-manipulation?source=email_authors_alerts&ifp=0
U.S. bank downgrades loom
By Chris Isidore @CNNMoneyInvest June 15, 2012: 11:14 AM ET
Gold prices will boom on the news, especially since most other countries, the Euro particularly, have gone to the dollar as a safe haven and source of liquidity, imo:
http://money.cnn.com/2012/06/15/investing/bank-downgrades/index.htm?iid=HP_LN
CPM Group Projects 2012 Average Gold Price Of $1,639/Oz; Average 2012 Silver Price Of $30
08 June 2012, 4:11 p.m.
By Kitco News
http://www.kitco.com/
(Kitco News) - Precious metals are at a cyclical peak in a secular, longer-term bull market, said a New York-based commodities consultancy on Friday.
CPM Group projected its 2012 average gold price at $1,639 an ounce. That’s down from the all-time nominal high of $1,920, but above 2011’s average price of $1,572.
For silver, CPM Group is forecasting the metal’s average price at $30 an ounce for 2012, down from the 2011 record of $49 and the average price of $35.29 for last year.
The group pointed out their forecast differs from other, higher bank projections made by drawing accelerated trend lines based on past performance. “We want to reiterate here that what we have been projecting, which seems to be emerging at present as reality in the markets, is a cyclical peak in a secular, longer-term bull market. We expect prices to fall only modestly from their recent record high levels, and to stay high by historical standards. And, we expect prices to rise more in the future, when investors periodically become more concerned about economic and financial stability,” they said.
The decline in investment demand is driving some of this peaking of gold and silver prices they said, and is happening for two reasons. One is that high prices have curtailed demand. “In this way, one should realize that a bull market, in any asset, carries with it the seeds of its own ending. Prices ultimately rise to levels that shift supply, demand, and investment demand. This is an immutable economic law, although one which investors repeatedly ignore, whether it is in gold, copper, bank stocks, real estate, Internet stocks, or so many other assets,” they said.
The second, and more important factor, CPM Group said, is that investors backed away from “the unbridled, sometimes irrationally overblown, fear of imminent financial system collapse and economic depression that had been driving them to buy enormous amounts of gold and silver regardless of the price, until September 2011.”
Instead of a financial system collapse, current economic, political and financial problems will likely remain problems for years. “In this environment, investors would continue to want to buy and hold gold and silver as protection against these problems. However, they would become more price sensitive. Instead of chasing metals prices ever higher, they would stop buying when prices rose sharply, and buy when prices dipped lower,” they said.
CPM Group analysts said they do not expect prices to return to levels since before 2008, with gold remaining “above $1,400, maybe $1,300, over the next few years. Silver may drop down toward $20 between now and 2014.”
Fundamentally, global gold-mine production should be expected to rise for at least the next decade, while it appears that fabrication demand has bottomed out and central banks remain buyers. Similarly, silver-mine supply is rising while fabrication demand for silver is rising.
By Debbie Carlson of Kitco News dcarlson@kitco.com
http://www.kitco.com/reports/KitcoNews20120608DeC_CPM.html
Gold's perception problem
While the markets weren't kind to gold following their disappointment at Bernanke's statement to Congress, it doesn't mean the metal is out for the count and its recent performance has been no worse than that of many other market sectors
Author: Geoff Candy
Posted: Friday , 08 Jun 2012
GRONINGEN (Mineweb) -
There is no mistaking the disappointment markets felt yesterday at Ben Benanke's "failure" to reward expectations of dovish comment.
Despite the recent poor jobs numbers out of the US, the Fed Chairman's comments were non-committal, saying that the committee was continually reassessing the situation. Unfortunately for gold, the market was hoping to hear him say that a further bout of QE was imminent and this he didn't do.
As UBS analyst, Edel Tully points out, however, In reality, gold yesterday responded to the fact that Bernanke's testimony did not contain much more than general statements, failing to take into account that he was quite clear about leaving all options on the table."
Indeed the bank's economics team actually believe that risks for more monetary stimulus have increased".
The problem, as she sees it, is that recent expectations within the market were for a far more urgent application of QE than currently looks likely and gold suffered as a consequence.
For Tully, "the problem for gold here is that market confidence in the metal is now much depleted and trading dollars will shy away from this market in consequence. Gold needs to repair confidence first before it can ever start to reflect the long QE trade again.
Part of this confidence stems from the fact that many in the speculative community had previously viewed the metal as a safe haven asset but, recent moves both by it and the dollar have left the impression that this is no longer the case.
But, while the metal, has been falling lately, most other things have been as well.
As the Standard Bank commodities team wrote in its daily note yesterday, "Since the Greek elections at the start of May, financial markets have struggled to cope with the growing uncertainty that is brewing in Europe and also threatening growth elsewhere. As we have seen in the past, when risk aversion rises, the dollar benefits. With the US dollar strong, many commodity prices have been under severe downward pressure, especially in the absence of strong real demand.
"We compare the performance of metals, Brent crude, the dollar and the S&P... While the dollar (on a trade-weighted basis) performed the best since the start of May until yesterday, gold is the second best performer among the assets compared. Gold's performance over the past month has not been positive but has been the best of the bad bunch."
Speaking to Mineweb.com's Metals Weekly podcast, this week, Investec Asset Management investment strategist, Michael Power, reiterated the point saying of recent market comment, "I'm not sure that gold has been that volatile especially when you compare it to other asset classes. Yes, it has its periods of up and down, but they're relatively speaking quite tight and if you look at the long-term map, it's actually quite an impressive rise that you see in gold over that period and I think that's going to continue."
http://www.mineweb.co.za/mineweb/view/mineweb/en/page33?oid=152993&sn=Detail&pid=33
Market Nuggets: Bullish On Gold If Market Can Close Over $1,580/Oz
- Olympus Futures
Friday June 08, 2012 11:44 AM
If Comex August gold prices can close over $1,580 an ounce, Charles Nedoss, senior market strategist at Olympus Futures, says gold prices might trend higher next week. Nedoss says the 20-day moving average lies around that region, specifically at $1,580.50, based on technical-chart analysis. Next week the market will look again at Europe, with the Greek elections a major influence. Although the market did not receive much of a boost from a Chinese rate cut this week, Nedoss says that's ultimately supportive for prices and he sees the Chinese continuing to take efforts to boost their economy. As of 11:33 a.m. EDT, Comex August gold was trading at $1,584.80, down $3.20 for the day.
By Debbie Carlson of Kitco News; dcarlson@kitco.com
http://www.kitco.com/reports/kitcoNewsMarketNuggets20120608.html
Market Nuggets: Deutsche Bank Looks For Eventual Gold Rally But Says Too Soon To Call Bottom
Friday June 08, 2012 12:44 PM
Deutsche Bank says it’s too soon to call a bottom in gold. The metal first surged sharply, then fell back, as market expectations for another round of U.S. quantitative easing first rose and then abated over the past week. “While we expect gold prices will eventually rally, we believe it is too soon to call a floor in the gold price given the ongoing downside risks to the euro in response to banking problems in Spain and the Greek elections on June 17th,” the bank says. Meanwhile, the industrial-metals complex is likely to remain under pressure in the near term due to concerns about slowing global economic growth, Deutsche Bank says. Chinese economic activity is especially concerning and we are worried that near-term indicators may show very sluggish conditions on the ground.”
By Allen Sykora of Kitco News; asykora@kitco.com
http://www.kitco.com/reports/kitcoNewsMarketNuggets20120608.html
Survey Participants Split On Gold Price Direction For Next Week
Friday June 8, 2012 12:16 PM
Survey participants in the weekly Kitco News Gold Survey are split on price direction next week, with no category receiving a majority.
In the Kitco News Gold Survey, out of 33 participants, 27 responded this week. Of those 27 participants, 13 see prices up, while nine see prices down, and five are neutral. Market participants include bullion dealers, investment banks, futures traders, money managers and technical-chart analysts.
Prices fell this week after Federal Reserve Chairman Ben Bernanke did not say strongly that the Fed will launch any additional monetary stimulus and only said that officials remain “ready to act” if economic conditions warrant. Gold received a mild boost from a surprise interest-rate cut by the People’s Bank of China. Even though the Fed did not tip its hand about stimulus, ideas of more central-bank action because of a possible global economic slowdown has bullish survey participants expecting higher prices.
“China and Australia see it and are acting. The U.S. and Euro authorities will do so too,” said Bill Goldman for 3GF Corp.
A number of participants were bearish on prices, citing the way gold could not hold support at $1,600 an ounce this week. That level now becomes resistance. “The short-term trend has turned down again. Support is at the previous low of $1,529.30,” said Darin Newsom, Telvent DTN senior analyst.
The participants who are neutral on prices said they want to see if gold can hold the lows in the $1,520s area set last month. Also, some said they are waiting until after the Greek elections on June 17 to see what direction the metal may take based on the election outcome.
Commodity Prices Likely To Slide Further As European Uncertainty Persists
08 June 2012, 12:51 p.m.
By Allen Sykora
Of Kitco News
http://www.kitco.com/
(Kitco News) - Commodities have come under heavy pressure since worries about Europe’s debt woes were heightened this spring and there may be more downside to come, analysts said.
Europe’s troubles are leading to fewer exports from China and thus contributing to a softer economic tone in the key commodity-consuming nation. Also, the European backdrop has left investors reluctant to hold so-called risk assets such as stocks and commodities.
The Continuous Commodity Index, a basket of 17 raw commodities, fell 27% from a record high of 691.09 in April to a 21-month low of 502.28 last week. Industrial commodities have been especially hard hit, with most-active July crude oil on the New York Mercantile Exchange falling 26% from a May 1 high of $106.77 to a June 4 low for the year of $81.21. London Metal Exchange copper slid 15% from an April 30 high of $8,496.75 a metric ton to a 2012 low of $7,233.25 on Friday. December cotton fell 28% from a late-April peak of 89.55 cents a pound on ICE Futures U.S. to a Monday low of 64.61.
European economic data has been weak as the continent deals with a debt crisis in periphery nations. Much of the focus has been on Greece, where elections on June 17 are seen by some see as a de-facto referendum on whether it stays in the eurozone. Spain’s fiscal problems have risen to the forefront, with banks in need of capitalization and ratings agencies downgrading the country’s debt. Spanish and Italian bond yields rose above 6% last month as investors were hesitant about taking on their debt.
“We’re going to continue to see these problems down the road,” said Bart Melek, head of commodity strategy, rates and foreign exchange with TD Securities. European officials will face challenges reaching political solutions, particularly with the German public largely opposed to bailouts, he said. The uncertainty has left commodities under pressure despite a surprise cut in Chinese interest rates Thursday meant to prop up the economy.
“In spite of the fact the Chinese have now eased more aggressively than had been expected, we still see a bit of downside in the commodity space,” Melek said. “China will probably continue to show relatively poor (economic) numbers and of course Europe is a huge mess. So Chinese exports there (Europe) aren’t going to be increasing any time soon in a material way. And at the same time, we’ve got issues in the United States, where growth is performing less robustly than we would like.”
This means inventories of commodities in general will be higher than would have been the case if economic conditions were stronger, Melek said. In fact, he said, some stockpiled copper has been exported lately from China, the world’s largest buyer.
Bill O’Neill, one of the principals with LOGIC Advisors, said money flows are working against commodities without regard to supply/demand fundamentals. “There is not a lot of speculative money coming into commodities.”
He does not foresee the worries driving commodities lower ending any time soon.
“I do think commodities are getting oversold and markets are moving to levels weaker than their supply/demand equations may justify,” O’Neill said. “But until we get out of this risk-off mentality and period where funds are not making any kind of aggressive commitments to the markets—and even the trade is being cautious—we’re probably going to continue to see prices slide.”
For now, O’Neill said his own firm is taking a “stand-aside” view on nearly all commodities.
Spencer Patton, chief investment officer with Steel Vine Investments, said markets will be watching to see whether European officials agree on aid for Spain and develop a backstop to halt a run on bank deposits in some nations.
“Short of those two items, the pressure is going to continue through a weaker euro and stronger U.S. dollar,” Patton said. Market participants may use any short-term commodity bounces to lighten up on long positions, he said. “I’m not ready to buy until we get some confirmation that Spain is going to be in a better place.”
Patton doubts the euro has put in its low for the cycle. The currency hit a nearly two-year low of $1.2289 last Friday. A stronger dollar hurts commodities by making them more expensive in other currencies.
Analysts said they look for industrial commodities such as copper, aluminum, oil and platinum to be hit hardest by the European issues. Melek described copper as especially vulnerable since the price remains well above the cost of mining.
Gold may hold up better than most commodities due to its safe-haven status, Melek said. Patton looks for grains such as corn and soybeans—which tend to react to weather and harvest potential--to be among the better performers.
Commodities To Eventually Bounce If/When Europe Comes Up With Measures
Analysts eventually look for a pick-up in commodities, particularly if European authorities agree on measures to stabilize the continent’s financial picture.
“We see things improving materially in the latter part of the year,” Melek said. “We ultimately think the Federal Reserve helps out with stimulus, although not quite yet. We think they will wait until after elections. We are of the view that ultimately Europe will not allow the euro to fall apart. But from here to there, there is going to be a lot of volatility and the risk is to the downside in the short term.”
Patton and O’Neill also look for European officials to eventually cobble together a plan. “There is just too much on the line for Germany and everyone else to let the euro explode,” Patton said.
Adrian Day, president and chief executive officer of Adrian Day Asset Management, figures commodities will eventually find support since China’s economy continues to grow, albeit slower than in the past.
“If China’s economy continues to have real growth, whether 7% or 8%, that is still an increase in demand for commodities,” he said. “Unless China’s economy goes into a hard landing, and we’re a long ways from that at the moment,…the growth in China will more than offset the decline in Europe.”
By Allen Sykora of Kitco News; asykora@kitco.com
http://www.kitco.com/reports/KitcoNews20120608AS_Europe.html
Knee jerk gold plunge after Bernanke statement doesn't promise more QE
Fed chairman Ben Bernanke's statement today was, in reality, a non-event, but the gold price dived anyway when he refrained from suggesting any likelihood of monetary easing ahead.
Author: Lawrence Williams
Posted: Thursday , 07 Jun 2012
LONDON -
U.S. Fed chairman Ben Bernanke's statement to Congress earlier today gave no clear indication of whether or not the Fed was likely to implement more Quantitative Easing - indeed his statement was as obscure in its content as we suggested in an earlier article - Silver surges as gold breakout maintained - where we stated "Although there have been signs from the Fed that further easing may be on the table again, you can't bank on Bernanke to do any more than refer to this possibility in the most oblique terms". However his lack of direction on what many had been looking for was sufficient to drive the gold price back down below the $1600 level again in a knee-jerk reaction from the gold traders on COMEX - and perhaps from those who have a vested interest in keeping gold and silver prices down.
One hardly could seriously have expected Bernanke to do anything else - it's not in his nature - but the expectation was there that he would indicate at the least either an extension of Operation Twist, whereby the Fed sells short-term Treasury bonds and purchases long-term Treasury bonds, in order to drive long term interest rates downwards (this programme is due to end at the end of this month) or some other form of monetary stimulus ahead. However he did not rule any of this out either, while other Fed officers have suggested that such things may be on the cards at the Fed's next meeting later this month.
Thus the Bernanke testimony was, in reality, a non-event. In reality it should have had little or no effect on the precious metals markets, but that doesn't seem to be the way the market works these days. It had been widely predicted that if Bernanke did not suggest further monetary easing ahead that gold and silver prices would fall - and this became thus a self-fulfilling prophecy. Gold slid from a little over $1620 right down to the $1580 level before making a small recovery to $1590 which may, or may not, be sustained, while silver fell from $29.60 to $28.40 before too making a small recovery.
One suspects that, once the fact that nothing has actually changed from Bernanke's statement, then gold could steady at around the $1590 level, or even break back through $1600, but no significant move one way or the other seems likely to follow until the Fed meeting on June 19-20 unless other economic news or data comes out seen as likely to impact any decision for or against further easing. Gold and silver remain in a volatile area with the balance capable of being tipped sharply one way or the other in the next few weeks.
http://www.mineweb.com/mineweb/view/mineweb/en/page34?oid=152874&sn=Detail&pid=34
Comex Gold Extends Sharp Losses in Wake of Bernanke; Move Below $1,600 Deflates Bulls
Thursday June 07, 2011 11:21 AM
Comex gold futures prices have extended already sharp losses in late-morning trading Thursday and have dropped below what was psychological support at the $1,600.00 level. The yellow metal has dropped sharply in the aftermath of Federal Reserve Chairman Ben Bernanke's speech to the Joint Economic Committee of the U.S. Congress. Bernanke said the U.S. is facing economic headwinds, especially due to the European Union debt crisis, but offered up no specifics on any fresh monetary stimulus package to promote more economic growth. The restrained tone of Bernanke's speech disappointed gold market bulls who wanted immediate gratification on economic stimulus. However, Bernanke at this time holding his cards close to his vest on the matter did not surprise most market watchers--many of whom still reckon the Fed will at some point down the road provide fresh monetary policy easing. The gold market bulls did lose their newfound upside near-term technical momentum with Thursday's sharp losses. August gold last traded down $44.00 an ounce at $1,589.00.
http://www.kitco.com/reports/KitcoNews20120607JW_update2.html
Gold, Silver Hit 4-Week High On Easing Hopes
Jun 06, 2012 (Dow Jones Commodities News via Comtex) --
--Comex August gold settles up $17.30, or 1.1%, at $1,634.20 a troy ounce
--Silver climbs 3.8% to $29.488/oz on hopes for central-bank monetary easing
--Indian gold prices hit fresh record, underline demand worries from key consumer
By Matt Day
NEW YORK--Gold and silver prices surged on Wednesday, continuing a rebound from their recent lows as investors bet that easy-money policies from central banks in Europe and the U.S. would drive demand for the precious metals as currency alternatives.
The most-actively traded gold contract, for August delivery, rose $17.30, or 1.1%, to settle at $1,634.20 a troy ounce on the Comex division of the New York Mercantile Exchange, the highest ending price since May 7.
The renewed life in the battered gold market--futures, through Wednesday, were up 4.4% from a week ago--has come as investors bet that flagging global growth would compel central banks to pump more money into the global financial system. Gold and other precious metals can benefit from such accommodative monetary policies, as investors seek a hedge against declines in paper currencies.
On Wednesday, Federal Reserve Bank of Atlanta President Dennis Lockhart said that "further monetary actions to support the recovery will certainly need to be considered" if modest domestic growth is no longer realistic.
Silver for July delivery gained 3.8% to settle at $29.488 a troy ounce, the highest settlement since May 7.
Silver tends to move in tandem with gold, since investors buy both precious metals as safe-haven investments. But, unlike gold, silver has a wide variety of industrial applications, making prices sensitive to changes in the economic growth outlook.
The euro, which jumped on Wednesday against the U.S. Dollar after the European Central Bank held its benchmark interest rate steady, gave precious metals and other commodities a lift. A weaker dollar makes dollar-denominated commodities appear cheaper for buyers using other currencies.
Industrial bellwether copper rose 2.7% and Nymex crude oil was recently up 1%.
"Some kind of easing is becoming increasingly needed and, as a consequence, increasingly likely," said Marc Ground, an analyst with Standard Bank, in a note. He added that easing "would be bullish for precious metals."
Traders were looking ahead to Federal Reserve Chairman Ben Bernanke's Congressional testimony, scheduled for Thursday.
Volume in Comex metals trading picked up on Wednesday with the return of London-based market participants who had been on holiday earlier this week. Markets in the U.K., a key metals-trading hub, were closed on Monday and Tuesday for a public holiday.
Gold's gains came despite worries that demand from traditional top consumer India would remain subdued as currency moves keep prices at record highs in local terms. Gold prices have remained high despite the swings in New York-traded gold due to weakness in the Indian rupee. The price in India hit a record high on Wednesday.
Prithviraj Kothari, president of Bombay Bullion Association, said he expects India's gold imports in June to be less than half of the 55 metric tons to 60 metric tons imported during the same month in 2011.
"The physical market remains weak, but prices have been able to sideline this weakness in the past should investment demand plug the gap," Barclays analyst Suki Cooper said in a note.
--Biman Mukherji, Debiprasad Nayak and Alex MacDonald
http://futures.tradingcharts.com/news/futures/DJ_PRECIOUS_METALS__Gold__Silver_Hit_4_Week_High_On_Easing_Hopes_179873606.html
GOLD Background History: Must Read!
Gold bugs defy bear market threat:
Some investors are refusing to surrender even after failed Greek elections drove the euro to a two-year low against the dollar and gold slumped as much as 21% in December from the record $1,923.70 set in September.
Author: By Nicholas Larkin and Debarati Roy
Posted: Wednesday , 06 Jun 2012
BLOOMBERG -
Gold is stuck in the longest slump in a decade as investors shun bullion for the dollar and bonds, just seven months after Bank of America Corp. said Europe's debt crisis would send prices to a record $2,000 an ounce.
The bank was joined by Goldman Sachs Group Inc., Morgan Stanley and Barclays Plc in urging investors to buy in December and January. Now, after gold fell 10 percent in a four-month slide through May, they say prices will rebound this year or next as the Federal Reserve shores up the world's biggest economy by easing monetary policy and devaluing the dollar.
Billionaire George Soros bought more in the first quarter and hedge-fund manager John Paulson held on to the biggest stake in the SPDR Gold Trust, the largest exchange-traded product backed by bullion, Securities and Exchange Commission filings show. Some investors are refusing to capitulate even after failed elections in Greece drove the euro to a two-year low against the dollar and gold slumped as much as 21 percent in December from the record $1,923.70 set in September.
"The $2,000 target has moved further away, but it still holds," said John Stephenson, who helps manage $2.7 billion at First Asset Investment Management Inc. in Toronto and predicted in November that prices would reach $2,500 in the next several months. "We will see some easing, and that will push gold higher, but the reality is that we are on hold until the outcome of the Greece elections."
Bear Market
Gold fell 19 percent by May 16 from its closing high of $1,891.90 in August, within 1 percentage point of the common definition of a bear market. Prices then touched a five-month low of $1,523.90 on Dec. 29. After rallying 3.7 percent on June 1, the metal is now up 4 percent since the start of January to $1,625.73 today, extending an 11-year bull market.
The Standard & Poor's GSCI Spot Index (MXWD) of 24 commodities retreated 8.7 percent this year, and the MSCI All-Country World Index of equities declined 1.9 percent. The U.S. Dollar Index, a measure against six currencies, advanced 2.9 percent. Treasuries returned 2.2 percent, a Bank of America index shows.
Hedge funds and other speculators reduced their net-long positions, or bets on higher prices, by 70 percent since August, Commodity Futures Trading Commission data show. They held 77,325 U.S. futures and options in the week ended May 29, almost the fewest since December 2008.
Gold held through ETPs dropped for a third month in May, according to data compiled by Bloomberg. Combined with the decline in prices, the holdings are now valued at $123.6 billion, down from $141.7 billion in August.
Goldman Predicts
In October, Bank of America forecast $2,000 by early 2012. Goldman predicted in December that gold would reach $1,840 by early June. Barclays and Morgan Stanley said in January that it would average $1,850 and $1,810 this quarter. The metal actually averaged $1,619 since the end of March. Goldman now expects prices to reach $1,940 in 12 months. Barclays predicts an average of $1,790 in the fourth quarter, and Morgan Stanley forecasts $2,000 in the final three months.
Bullion is heading for a 12th straight annual gain, after temporarily giving up its gains for the year last month. The metal rose almost sixfold since the end of 2000, beating the 24 percent advance in the S&P 500, with dividends reinvested, and the 90 percent return on Treasuries. The Dollar Index (DXY) fell 24 percent.
While gold's four-month drop from February is the longest since the start of the bull market, it's not the biggest. Futures fell 21 percent in a month in 2006 and 30 percent over eight months in 2008, before rallying to end higher for the year. The 2,375.2 metric tons held in ETPs exceeds official reserves in all but four nations tracked by the International Monetary Fund, and the amount is within 1.5 percent of the record 2,410.2 tons reached in March.
‘Last Resort'
"Gold remains the currency of last resort," said Jeff Currie, the New York-based head of commodity research at Goldman, which predicts $1,840 by the end of the year. "The case for higher gold prices remains intact."
Greek voters return to the polls on June 17 after elections on May 6 failed to produce a government. Syriza, a party proposing to cancel the terms of an international bailout and restore pensions and wages, was propelled into second place, increasing prospects that the 17-nation euro would fracture. Those concerns were partially allayed last week after Irish voters backed the EU's fiscal treaty.
Central banks, the world's biggest owners of gold, have added to their reserves for 14 consecutive months through March, the longest streak since 1964, IMF data show. Investor demand for gold coins is accelerating, with sales of American Eagles more than doubling to 53,000 ounces last month, according to figures on the U.S. Mint's website. The nine most-widely held options confer the right to buy bullion at prices from $1,900 to $2,500 between July and March 2013, Comex data show.
‘Asset Bubble'
Soros Fund Management LLC, founded by the 81-year-old billionaire, more than tripled its investment in the SPDR Gold Trust in the first quarter to 319,550 shares now valued at $48.5 million, an SEC filing May 15 showed. It held as few as 42,800 shares last year and as many as 6.2 million at the end of 2009. Soros called gold the "ultimate asset bubble" in January 2010. Michael Vachon, a spokesman for Soros, didn't respond to a voicemail for comment.
Paulson & Co., founded by the 56-year-old investor who became a billionaire in 2007 by wagering against the subprime mortgage market, still holds 17.3 million shares in the SPDR Gold Trust, now valued at $2.62 billion, an SEC filing on May 15 showed. Paulson is seeking to reverse record losses last year caused by an ill-timed bet on an economic recovery. Armel Leslie, a spokesman for Paulson, declined to comment.
Winning Streak
The decline in prices accelerated a contraction in the size of the gold market. Open interest, or contracts outstanding, fell to 423,433 on June 4, from as much as 650,764 in November 2010, Comex data show. An average of 17.9 million ounces was cleared through London in April, the least since October 2010, according to the London Bullion Market Association.
Prices slumped as investors sought safety in the dollar, the world's most-used currency, and bonds. The Dollar Index has appreciated for five consecutive weeks, the longest winning streak since January 2009. Yields on 10-year Treasuries, 10-year U.K. gilts and 10-year German bunds declined to records last month, data compiled by Bloomberg show.
"People are moving to the dollar because of liquidity," said Peter Sorrentino, a senior fund manager at Huntington Asset Advisors in Cincinnati, which oversees $14.7 billion of assets. "Gold has had extended periods in this bull run where it has backed up and given up some of those gains," he said, predicting $2,000 in the first quarter of next year.
Central Bank
Gold rallied last year in anticipation of the Federal Reserve announcing a third round of debt buying. The metal rose about 70 percent as the Fed bought $2.3 trillion of debt in two rounds of so-called quantitative easing ending in June 2011. The central bank has since held off on prospects for accelerating growth in this and the next two quarters, the median of as many as 69 economist estimates compiled by Bloomberg show.
Demand may also be supported by record-low interest rates from the U.S. to Europe because gold generally earns investors returns only through price gains. The Fed has pledged to keep rates at "exceptionally low levels" at least through late 2014. The European Central Bank, as well as flooding markets with more than 1 trillion euros ($1.23 trillion), has kept its refinancing rate at 1 percent since December.
Cover Losses
Some investors sold gold to cover losses across commodities and equities, said Jeffrey Sica, the Morristown, New Jersey- based president of SICA Wealth Management who helps oversee $1 billion of assets. About $6 trillion was erased from the value of global equities since the end of March, and the S&P GSCI commodities gauge slid 16 percent as Europe's crisis deepened and growth slowed in China, the biggest consumer of everything from coal to soybeans to copper.
"Gold is still going to $2,000 an ounce this year," said Michael Widmer, an analyst at Bank of America Merrill Lynch in London, who predicts a fourth-quarter average of $1,875. "It's just going to take a little bit longer to get there."
http://www.mineweb.co.za/mineweb/view/mineweb/en/page33?oid=152749&sn=Detail&pid=33
Market Nuggets
MKS Finance: Softer Dollar, Eurozone Anticipation Boost Gold Prices
Wednesday June 06, 2012 2:20 PM
Gold surged amid hopes that European leaders will address the continent’s credit/banking crisis, says MKS Finance. The dollar’s weakness was the catalyst behind the metal’s sharp surge. The European Central Bank left interest rates unchanged, but MKS says ECB chief Mario Draghi in essence put “pressure on individual governments to take strong steps to combat growing banking crisis. Gold prices briefly wobbled when Draghi spoke yet quickly recovered on hopes that eurozone governments might be shamed into more aggressive action at the next summit on June 28-29.” Much of the activity was short-term macro buying, with buy stops triggered, MKS says. As of 2:05 p.m. EDT, spot gold was $9.75 higher at $1,626.75.
By Allen Sykora of Kitco News; asykora@kitco.com
Market Nuggets: RBC: Base Metals Rally With Commodities As U.S. Dollar Weakens
Wednesday June 06, 2012 2:06 PM
Base metals rose as part of a commodity-wide rally on the back of weakness in the U.S. dollar, says RBC Capital Markets. “After last week’s dismal (U.S.) employment report, the market had gotten itself quite oversold and thus was due for a bounce,” RBC says. “Many players are now looking to bet on more global monetary easing, which should help commodities as money floods the system and hard assets become more dear.” Around 2 p.m. EDT, the euro was up to $1.2552 from $1.2450 late Tuesday. LME copper was up $102.75 to $7,463.75 a metric ton and aluminum was up $8.50 to $1,981.
By Allen Sykora of Kitco News; asykora@kitco.com
Market Nuggets: FuturePath's Lesh: Comex Gold, Silver Hit 4-Week Highs As Risk Sentiment Picks Up
Wednesday June 06, 2012 12:23 PM
Comex gold and silver hit their strongest levels in four weeks as equities also rose but the U.S. dollar softened, says Frank Lesh, broker and futures analyst with FuturePath Trading. “Risk is back on,” he says. Markets have been bolstered by ideas that the Federal Reserve and European Central Bank may undertake further accommodative policies, he says. Light buy stops may have been elected in August gold as it moved up through last week’s $1,632 an ounce high, Lesh says. He puts chart resistance for August gold in the $1,650s, then the 100-day moving average around $1,670. He lists resistance for July silver from $30 to $30.40. As of 12:04 a.m. EDT, August gold was $23.60, or 1.5%, stronger at $1,640.50. July silver was up $1.325, or 4.7%, to $29.73 an ounce. August gold hit a high of $1,642.40 that was its strongest level since May 7, while July silver hit a $29.815 high that was its most muscular level since May 8.
By Allen Sykora of Kitco News; asykora@kitco.com
Market Nuggets: UBS: Exchange-Traded-Fund Holdings Of Gold Pick Up So Far In June
Wednesday June 06, 2012 08:19 AM
Buyers are moving into physically backed gold exchange-traded funds so far this month, says UBS. In May, the bank says, ETF holders were net sellers of 911,000 ounces. “In June, that appetite has changed and global ETF holdings have increased by 0.17 moz, principally led by GLD buying,” UBS says. Gold holdings by GLD, or SPDR Gold Shares, now stand at 40.96 million ounces, compared to 40.84 million at the end of May. “The return of this buying is certainly a positive for gold, but more needs to follow through,” UBS says.
http://www.kitco.com/reports/kitcoNewsMarketNuggets20120606.html
P.M. Kitco Metals Roundup: Comex Gold Ends Solidly Up, Hits 4-Week High, on Bullish Outside Market Forces
Wednesday June 06, 2011 2:13 PM
Comex gold futures prices ended the U.S. day session solidly higher hit a four-week high Wednesday. The yellow metal was boosted by fresh technical buying and by a “risk-on” trading day in the market place, which boosted most raw commodity markets, including the precious metals. August gold last traded up $13.80 at $1,630.70 an ounce. Spot gold was last quoted up $12.30 an ounce at $1,629.75. July Comex silver last traded up $1.135 at $29.535 an ounce.
The market place was in a firm “risk-on” mood Wednesday, as traders and investors are hoping the central banks of the U.S. and European Union move soon to ease their monetary policies. The European Central Bank meeting Wednesday produced no such results. Fed Chairman Bernanke speaks to U.S. lawmakers on Thursday, and traders are wondering if he will hint at further U.S. easing of monetary policy. Many reckon it may be a bit too soon for the EU and U.S. to start fresh monetary easing strategies, but they also reckon odds are better than 50-50 that such will indeed occur in the coming weeks or months.
Recent weak economic activity out of the U.S., EU (and China) has been a bearish drag on many markets, and it has become increasingly likely the central banks will have to act to stimulate their economies with easier money policies. That would be at least temporarily bullish for most markets, including stock indexes and commodities.
In overnight news, there was fresh, weak economic data coming out of Germany, which has been the economic stalwart of the EU. Also, Moody’s has lowered credit ratings on several German banks. The EU debt crisis is still a major headache for the market place, but so far Wednesday traders and investors have chosen to focus on the bullish prospects of easier money policies.
The U.S. dollar index traded lower Wednesday on profit-taking pressure from recent gains. The dollar index bulls still have the overall near-term technical advantage. Meantime, Nymex crude oil futures were higher on short covering in a bear market. Crude oil remains in a bearish overall fundamental and technical posture.
The London P.M. gold fix is $1,635.00 versus the previous London P.M. fixing of $1,606.00.
Technically, August gold futures prices closed near mid-range Wednesday and hit a fresh four-week high. The gold bulls gained some more upside technical momentum Wednesday. Prices saw an upside breakout from a bullish pennant pattern on the daily chart. Bulls have regained the slight near-term technical advantage in gold for the first time in many weeks. The gold bulls’ next upside price breakout objective is to produce a close above solid technical resistance at $1,650.00. Bears' next near-term downside price objective is closing prices below psychological support at $1,600.00. First resistance is seen at Wednesday’s high of $1,642.40 and then at $1,650.00. First support is seen at Wednesday’s low of $1,616.50 and then at this week’s low of $1,610.00. Wyckoff’s Market Rating: 5.5
July silver futures prices closed nearer the session high and hit a fresh four-week high Wednesday. The silver bulls gained fresh upside technical momentum Wednesday as prices saw an upside breakout from a sideways trading range on the daily chart. A three-month-old downtrend on the daily bar chart was also negated Wednesday. Bulls’ next upside price breakout objective is closing prices above major psychological resistance at $30.00 an ounce. The next downside price breakout objective for the bears is closing prices below solid technical support at the December low of $26.50. First resistance is seen at Wednesday’s high of $29.865 and then at $30.00. Next support is seen at $29.00 and then at Wednesday’s low of $28.41. Wyckoff's Market Rating: 4.5.
July N.Y. copper closed up 825 points 337.15 cents Wednesday. Prices closed nearer the session high and saw short covering in a bear market. The key “outside markets” were bullish for copper Wednesday, as the U.S. dollar index was lower and crude oil prices were higher. Copper bears still have the overall near-term technical advantage. Prices are still in a five-week-old downtrend on the daily bar chart. Copper bulls' next upside breakout objective is pushing and closing prices above solid technical resistance at 345.00 cents. The next downside price breakout objective for the bears is closing prices below solid technical support at the contract low of 308.00 cents. First resistance is seen at Wednesday’s high of 338.20 cents and then at 340.00 cents. First support is seen at 335.00 cents and then at 332.50 cents. Wyckoff's Market Rating: 3.0.
http://www.kitco.com/reports/KitcoNews20120606JW_pm.html
Top Stories of the Day
Jun 05, 2012 (Dow Jones Commodities News via Comtex) --
TOP STORIES
Brief Labor Dispute Resolved at Xstrata Peru Copper Project
LIMA--A brief labor dispute at Xstrata Copper's Antapaccay copper project in southern Peru has been resolved and did not affect construction activities at the development, the company said Tuesday.
Peru's Humala Sees Coalition Fracture Over Mining Disputes
LIMA--The coalition that carried President Ollanta Humala to power has started to break apart, driven in good part by differences over how to manage mining sector disputes.
STORIES OF INTEREST
Vale CEO Optimistic on Chinese Demand in 2012 - Report
RIO DE JANEIRO--Vale SA (VALE) Chief Executive Murilo Ferreira blamed the iron-ore producer's falling share price on market pessimism over China's growth this year, Valor Economico newspaper reported Tuesday.
Norway's Giske: Government Ownership Important in Rough Times
OSLO--Norway's high share of government ownership could become more important in the case of further economic turmoil, Norway's minister of trade and industry said Tuesday, underlining the country's privileged position and comparing Europe to the sinking Titanic.
GLOBE & MAIL: Canada's Cameco Shuns Argentina
TORONTO (Globe and Mail)--Another Canadian miner has shied away from investing in Argentina, a country rich in mineral deposits but with a growing populist tang that is worrying the global mining industry.
Philex Mine Output in May Valued at PHP1.16 Billion, Up vs April
MANILA--Philippine gold and copper producer Philex Mining Corp. (PX.PH) said Tuesday its Padcal mine produced precious metals worth an estimated PHP1.16 billion ($26.8 million) in May, higher than PHP1.11 billion in April as increased production compensated for lower gold and copper prices.
China Regulator Warns Banks on Lending to Steel Plants - FT
China's bank regulator has warned banks to be more vigilant in lending to Chinese steel companies, as some have borrowed excessively and used the funds to speculate on property and stocks, the Financial Times reported Monday on its website, citing a directive issued April 26 but never published.
MARKETS
BASE METALS: Copper Declines as EU Uncertainty Grows
NEW YORK--Copper futures extended their losses for the fifth straight trading session, marking a fresh low for 2012 as a stronger dollar and ongoing worries about Spain weighed on prices.
Write to Nicole Friedman at nicole.friedman@dowjones.com
http://futures.tradingcharts.com/news/futures/DJ_BASE_METALS_HIGHLIGHTS__Top_Stories_of_the_Day_179815328.html
Followers
|
8
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
349
|
Created
|
01/05/12
|
Type
|
Free
|
Moderators |
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |