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Well now we know why markets did what they did yesterday, GDP crushes it. Which tells me the privileged few know this yesterday. They covered and in case of gold futures, sold it.
Still gold should be 15k, and 33k if on the standard. One can only with in today’s twilight zone.
Today’s action in gold is concerning. It says that gold is not over the fact it’s separate from the DOW, where in March it went way down with market shake out. It may do same when all bubbles pop.
Complaints have been filed on behalf of traders of gold, silver, platinum and palladium futures by traders who transacted in those contracts between January 2008 and July 2016.
A pair of commodities traders sued Scotiabank on Friday after the Toronto-based bank admitted in a $127 million settlement with the U.S. government to an eight-year scheme to manipulate the market for precious metals futures contracts.
The complaints accuse the bank of a spoofing scheme that was detailed by the U.S. Department of Justice and the U.S. Commodities Futures Trading Commission on Aug. 19, when the agencies announced Scotiabank had entered into a deferred prosecution agreement and would pay $127.4 million in fines and forfeiture.
Regulators said Scotiabank had admitted to its role in a scheme by which four bank traders engaged in manipulative trading in the gold, silver, platinum and palladium futures contracts markets on the New York Mercantile Exchange Inc. and Commodity Exchange Inc.
Chinese Banks Bar Clients From Buying Precious Metals
by Tyler Durden. - Wed, 07/29/2020 - 19:45
https://www.zerohedge.com/markets/chinese-banks-bar-clients-buying-precious-metals
A Record 170 Tons Of Physical Gold Were Just Delivered On The COMEX: Here's Why
by Tyler Durden - Sat, 07/25/2020 - 08:10
Submitted by Jan Nieuwenhuijs of Voima Gold
https://www.zerohedge.com/markets/record-170-tons-physical-gold-were-just-delivered-comex-heres-why
DBG Doubleview Gold Corp DBG.V
A mine located in B.C.'s golden triangle. This hidden gem is now starting to get traction. It is a mega gold/copper porphyry deposit.
It can compare to likes of Red Chris, Tudor Gold, Copper Mountain Mining, Highland Valley just to name a few.
Red Chris bought out in 2019 at a high of 3.12
Tudor Gold now 2.60
Copper Mountain high of 8.13
Tech Resources - Highland Valley now 14.97
Of course there are going to be certain variables like some mines not having other metals like silver, palladium, and cobalt all of which Doubleview has!
DBG is only $.26 right now, it's worth a look because it won't stay at this price for long. It's already started to move up as the next drill campaign is about to get started.
Gold And Silver Aiming High! - Elliott wave analysis
Tuesday, June 16, 2020
by Gregor Horvat of Elliott Wave Service
https://www.insidefutures.com/article/3131540/Gold%20And%20Silver%20Aiming%20High!%20-%20Elliott%20wave%20analysis.html
LBMA colludes with the COMEX – To lockdown the global gold market?
25 Mar 2020 04:54 - Ronan Manly
https://www.bullionstar.com/blogs/ronan-manly/lbma-colludes-with-the-comex-to-lockdown-the-global-gold-market/
Conclusion
COMEX 100 oz gold futures contracts are deliverable in name only. In terms of COMEX gold futures trading, practically no contracts ever reach delivery. Just a few basis points of a percent. And delivery on the COMEX just means a warrant (receipt) from one of the approved COMEX warehouses changes hands. Getting any gold bar out of the COMEX vaults once you have a warrant is a totally different ballgame. The vast majority of COMEX 100 oz gold futures are never delivered, they are offset (closed out) and cash-settled, or else rolled over. his is essentially the same as unallocated gold in the London market, both are just cash-settled gold derivatives. In fact, 100 oz gold bars are really not common at all. Why then would the LBMA and its bullion banks be even concerned about 100 oz bars that rarely ever get delivered.
So what is exactly going on here? Who is bailing out who? The same bullion banks operate in both markets. Is the LBMA bailing out some of its bullion bank members that have blown up while at the same time propping up the COMEX edifice? If so, with the LBMA just being a trade association with the bullion banks at the helm, where are the 400 oz gold bars coming from? The HSBC or JP Morgan vaults in London? Or that famous gold lender of last resort, the Bank of England?
Or is it just a management of perceptions exercise with no gold bars involved, to try to coax back the spot and futures prices by telegraphing that the gold that is backing the spot price (which is actually unallocated non-existent gold) is now also backing COMEX gold futures. While neither of the two can be delivered, the same non-gold now backs both, so voila, there is no need for any price divergence!
We now know the BIS can take a dump on the gold market and use the futures paper gold certificates for TP in their marble bathrooms because they can always print more.
Rick Rule: Gold Is Insurance And You Want To Have Insurance
by Tyler Durden - Fri, 01/24/2020 - 15:16
https://www.zerohedge.com/commodities/rick-rule-gold-insurance-and-you-want-have-insurance
Does Palladium Signal the End of Paper Futures in Gold and Silver ? Possibly. But Not Yet
by Sprott Money Fri, 01/24/2020 - 07:00
https://www.zerohedge.com/news/2020-01-23/does-palladium-signal-end-paper-futures-gold-and-silver-possibly-not-yet
They want it around 1552s, until toilet paper contracts are used up in that area. there is no reset it the works to true value of gold. Another day perhaps. Gold market is still totally rigged by paper contracts that appear out of thin air based on nothing, similar to naked shorting but the promise someone else will buy it.
Central banks still at large. Every run, with large buy volume is met with selling after volume tapers off and can’t price can’t be sustained.
Pozsar talks people need to listen. Although it’s now January the repo is out of control and unexpected again.
https://www.google.com/amp/s/seekingalpha.com/amp/article/4312279-things-to-know-pozsars-potential-repocalypse-year-end-which-may-precede-qe4
Press Release: Equinox Gold to Announce Second Quarter 2019 Financial Results on August 1, 2019
Equinox Gold to Announce Second Quarter 2019 Financial Results on August 1, 2019
Canada NewsWire
VANCOUVER, July 25, 2019
VANCOUVER, July 25, 2019 /CNW/ - Equinox Gold Corp. (TSX-V: EQX, OTC: EQXFF) ("Equinox Gold" or the "Company") Equinox Gold will announce its second quarter 2019 financial and operating results on August 1, 2019 after market close. A live conference call and webcast will follow on August 2, 2019 commencing at 7:00am PT (10:00am ET), providing the opportunity for analysts and investors to ask questions of Equinox Gold´s executive team.
Conference call Toll-free in U.S. and Canada: 1-800-319-4610
International callers: +1 604-638-5340
Webcast www.equinoxgold.com
The webcast will be archived on Equinox Gold´s website until October 2, 2019.
On Behalf of the Board of Equinox Gold Corp.
"Christian Milau"
CEO & Director
Cautionary Notes
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Equinox Gold Corp.
View original content: http://www.newswire.ca/en/releases/archive/July2019/25/c3068.html
/CONTACT:
Equinox Gold Contacts: Christian Milau, CEO; Rhylin Bailie, Vice President Investor Relations, Tel: +1 604-558-0560, Email: ir@equinoxgold.com
Copyright CNW Group 2019
(END) Dow Jones Newswires
July 25, 2019 07:30 ET (11:30 GMT)
Equinox Gold Corp Price Target Raised to C$1.85/Share From C$1.60 by CIBC World Markets
DJ Equinox Gold Corp Price Target Raised to C$1.85/Share From C$1.60 by CIBC World Markets
Ratings actions from Baystreet: http://www.baystreet.ca
(END) Dow Jones Newswires
July 15, 2019 12:03 ET (16:03 GMT)
LBMA trading volume data confirms the paper gold casino in London -
Ronan Manly
Date 21 Nov 2018 07:14
The London Bullion Market Association (LBMA) has just a new set of
‘trading volume’ data covering the London and Zurich over-the-counter
(OTC) gold and silver markets.
According to the new data, the equivalent of 939 tonnes of gold
(30.2 million ounces) and the equivalent of 11,174 tonnes of silver
(359.2 mullion ounces) is traded each day by LBMA member firms
(such as market makers and banks) for settlement in these two markets
(loco London / loco Zurich).
This, says the LBMA means that gold is a US$ 36.9 billion per day market
while silver is a US$ 5.2 billion per day market.
For more info:
https://www.bullionstar.com/blogs/ronan-manly/lbma-trading-volume-data-confirms-the-paper-gold-casino-in-london/
TPRFF/GMC Possibility of a takeover -
Yes, crazy numbers here. total enterprise value with debt
under 250mm canadian.
A buyer can payoff debt, 100mm, and reap returns of
over 25-35% per year if purchased for $5.
This can happen in a flash.
Any thoughts?
by liquorc
Refill TIA, great on 'Gran Colombia Gold Corp. (TPRFF) -
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=144744998
Note the bottom lines;
Given Segovia's growth profile and low production cost, I believe
the stock is worth 15x forward earnings, or approximately $10/share,
representing close to 500% upside.
If the company continues to execute, then fair value should increase
over time.
Importantly, the company is now funding its growth from operating
cash flow; that eliminates the need for financing, which
is commonly a problem for junior miners.
The greatest risk to the thesis is the price of gold.
If gold were to fall to $1000/oz then I estimate that the company
would earn only around $0.10 of EPS;
at a 10x earnings multiple (reflecting thinner margins),
the stock would be worth $1/share, or ~40% downside.
Additionally, there remain operational tail risks, such as a
prolonged conflict with artisanal miners or gangs/guerrillas,
which could seriously impair the value of the company's assets.
Overall, I believe the very large upside potential more than
compensates investors for bearing these risks.
Disclosure: I am/we are long TPRFF.
The Largest Underground Gold And Silver Producer In Colombia - Gran Colombia Gold Corp.
Cambridge House International Inc.
Published on Nov 5, 2018
Watch as Mike Davies, CFO of Gran Colombia Gold Corp. (TSX: GCM),
discusses their new milestones for 2018.
Catalyst for a US Dollar Collapse & Gold Blastoff in play?
by kimblecharting - Thu, 09/06/2018 - 11:03
https://www.zerohedge.com/news/2018-09-06/catalyst-us-dollar-collapse-gold-blastoff-play
240 min $Gold sees AB=CD Formation in play.....
240 min #Gold sees AB=CD Formation in play..... pic.twitter.com/vVHdglr4dK
— Forex-Analytics (@ForexAnalytics1) June 24, 2018
Gold jewelry sales are finally picking up!
Chinese jewelry sales are a key component of global demand for both physical gold and platinum, accounting for 14 percent and 16 percent of consumption respectively. But since 2013, the consumption does not seem pretty ideal.
This year, gold jewelry sales in number one market China are finally picking up after years of decline, while consumers are still shying away from platinum.
Reported in FuninUSA news, Chinese gold jewelry sales rose 7 percent in the first quarter, having climbed in 2017 after three years of decline brought on by a shift in consumer spending to other areas like foreign travel, and as luxury goods demand dried up in the face of a crackdown on graft, according to World Gold Council data. Early reports suggest Chinese platinum jewelry purchases fell by a similar degree in the first quarter, after extending a run of annual declines into a fourth year last year.
The reasons for the condition of platinum product consumption may be the concerns of price, history, and product itself according to FuninUSA news.
Chinese consumers, particularly in rural areas, do not have the strong cultural affiliation with platinum that they have with gold.
Besides, though platinum retails at a lower price than pure gold, making it attractive to younger buyers with less disposable income, these younger consumers are also favoring 18-carat gold, with a cultural preference for gold metal over white persisting.
Also, Jewelers charge a workmanship fee to exchange old platinum products for new of 32 yuan per gram, compared to 18 yuan for gold, which makes it harder for those consumers, who see jewelry as a source of ready cash, to recoup the original cost of a platinum piece.
A further drop in platinum jewelry sales may occur this year, and the picture is not necessarily much rosier for gold, in spite of its first-quarter increase, due to uncertainty about Chinese economic growth, showed in FuninUSA news.
Silver/Gold Indicator attempting multi-year breakout:
https://kimblechartingsolutions.com/2018/06/silver-gold-indicator-attempting-multi-year-breakout/ …
Silver/Gold Indicator attempting multi-year breakout https://t.co/eXxhDeg8dx pic.twitter.com/vKPfl1Xo6C
— Chris Kimble (@KimbleCharting) June 7, 2018
Silver Gold Ratio… Set To “Spring” Precious Metals Higher?
by kimblecharting Thu, 04/19/2018 - 11:07
https://www.seeitmarket.com/silver-gold-ratio-set-spring-precious-metals-higher-17867/
Gold Hits All-Time Highs Priced In Emerging Market Currencies
Mark O'Byrne January 10, 2018
http://www.gold-eagle.com/article/gold-hits-all-time-highs-priced-emerging-market-currencies
Commodities : The Big Three - Rambus Chartology
Monday November 27, 2017 12:28
http://www.kitco.com/commentaries/2017-11-27/Commodities-The-Big-Three.html
According to this work, oil and copper in confirmed bull mode while gold is confirming its' bullish breakout... I think it's coming... just slower than anyone wants.
The Bullish Chartology for Gold... Public Version
Rambus Chartology Thursday October 26, 2017 15:40
http://www.kitco.com/commentaries/2017-10-16/The-Bullish-Chartology-for-Gold-Public-Version.html
Gold Readying to Rally
Adam Hamilton October 6, 2017
http://www.zealllc.com/2017/goldrdrl.htm
The bottom line is gold is readying to rally. The sharp pullback it suffered over the past month is normal and healthy, serving to rebalance sentiment. Despite the falling prices and resulting bearishness, gold remains well within its bull-market upleg’s strong uptrend channel. The futures speculators responsible for gold’s selloff can’t keep jettisoning long contracts at the extreme and unsustainable rate seen last month.
Meanwhile stock investors continued aggressively buying gold, driving GLD’s biggest monthly holdings build of this gold bull’s second upleg. Their investment demand will explode when these crazy stock markets inevitably roll over. On top of all that, gold is on the verge of starting its biggest seasonal rally of the year. This past month’s sharp pullback created a fantastic opportunity to buy low before gold starts surging again.
Gold- Mother of all bullish patterns formed?
by Chris Kimble | Sep 7, 2017 | Kimble Charting
https://kimblechartingsolutions.com/2017/09/gold-mother-bullish-patterns-formed/
$Gold on a Log Scale.....
#METL #Gold on a Log Scale..... Please RT. Our Next Free Webinar: https://t.co/2W40ewqSBe … pic.twitter.com/si7MOaFyA6
— Forex-Analytics (@ForexAnalytics1) August 13, 2017
How Much Gold Should the Common Man Own?
Posted by Mish | August 8, 2017 11:09:31
https://mishtalk.com/2017/08/08/how-much-gold-should-the-common-man-own/
Gold indicator, testing 6-year rising support. Metals bulls have fingers crossed that "support breaks!"
Gold indicator, testing 6-year rising support. Metals bulls have fingers crossed that "support breaks!" $GLD $SLV pic.twitter.com/6MSWVgyxoj
— Chris Kimble (@KimbleCharting) June 1, 2017
Last Days of The Gold Cartel
by Andrew Hoffman | Apr 15, 2017
https://www.milesfranklin.com/last-days-of-the-gold-cartel/
Charts and hyperlinks at the URL above...
Death Of A Presidency, An Empire, And A Monetary System
by Andrew Hoffman | Apr 13, 2017
https://www.milesfranklin.com/death-of-a-presidency-an-empire-and-a-monetary-system/
Commentary filled with hyerlinks in must read context at the URL above...
Gold 1210 or less this am, nonfarm payroll was higher than expected. Fed will use this for rates, but hike should be bullish for gold and drop the dollar.
gold futures back up to 1235 after trip back down below 1224. 1220 was major support and it held throughout manipulation leading up to and after Fed the felon speech.
1252-1255 last night and this morning, broke below yesterday afternoon to 1251 and spiked down to 1250 earlier.
It trend is true, 1254 should be low this am. It's struggle there.
Gold & Silver ROAR As Option Expiry Ends – Eric Sprott
Posted on February 26, 2017 by The Doc
http://www.silverdoctors.com/silver/silver-news/gold-silver-roar-as-option-expiry-ends-eric-sprott/
gold touch 1257 this evening into the morning.
there was some massive buying this evening, all within a few minutes around 9:30pm. many signs that things are lining up for gold run out of nowhere, up the slope to the top of K2.
$GOLD is quietly and purposefully headed up... options expiry coming... that'll be the best buy point.
Gold encroaching 1243 this morning. Should do the same to 1500 this year I believe.
gold in 1225 range at end of day trading. Headed up tonight because of Mnuchin effect.
https://www.bloomberg.com/news/articles/2017-02-14/mnuchin-g-20-debut-clouded-as-u-s-unspools-world-currency-pact
Trump and Mnuchin have both talked down the dollar
Which Assets Are Most Likely to Survive the Inevitable "System Reset"?
BY CHARLES HUGH SMITH POSTED FEBRUARY 11, 2017
https://dailyreckoning.com/92601-2/
Your skills, knowledge and social capital will emerge unscathed on the other side of the re-set wormhole. Your financial assets held in centrally controlled institutions will not.
A reader of mine recently asked a question every American household should be asking: which assets are most likely to survive the “system re-set” that is now inevitable?
It’s a question of great import because not all assets are equal in terms of survivability in crisis, when the rules change without advance notice.
The reality is thatAmerica is now dependent on multiple asset bubbles never popping — something history suggests is not possible.
It isn’t just a financial re-set that’s inevitable — it’s a political and social re-set as well.
Several key dynamics are driving a system reset. Earned income (wages) as a share of GDP has been falling for decades: this means labor is receiving a diminishing share of economic growth. Since costs and debt continue rising while incomes are declining or stagnating, this asymmetry eventually leads to insolvency.
The “fix” for insolvency has been higher debt and debt-based spending—in essence, borrowing from future income to fund more consumption today. But each unit of new debt is generating less economic activity/growth. This is called diminishing returns: eventually the costs of servicing the additional debt exceed the increasingly trivial gains.
What happens when the bubbles pop, despite massive central bank/state interventions?
The entire socio-political/financial system goes through a “system reset” in which all the fantasy-based valuations, political denials, false promises and fraudulent claims collapse in a heap.
In a crisis, the privileged Elites will change the rules in a desperate attempt to expropriate the income and wealth of the bottom 99.5% to preserve their own power.
The trick is to do so in ways that won’t spark an immediate political insurrection.
We can better understand their policy choices by asking: What’s easy to expropriate, what’s difficult to expropriate?
Those assets that are easy to expropriate will be expropriated first. Those that are difficult to expropriate are far less likely to be grabbed, due to the high costs of expropriation and the high risks of sparking a political insurrection.
History suggests the privileged Elites will pursue two basic strategies to expropriate the income and wealth of non-elites:
1) They will expropriate what is easy to expropriate: financial assets in centralized institutions the state controls: banks, brokerage accounts, insurance policies, etc.
2) They will use the time-honored “stealth expropriation” methods: inflation and taxes.
Any “money” held in a centrally controlled institution can be expropriated overnight. The rules will change without warning, so there will be no opportunity to escape the system.
Direct expropriation takes many forms. Your funds could be “bailed-in” (transferred to the bank). Large currency bills could be declared worthless. IRA and 401K accounts could be transferred into government bonds, to “protect the account owners from risky investments.” (Naturally, any expropriation will be presented as “for your own good.”)
Or a new currency could be issued that strips away 90% of the purchasing power of the old currency. It could be a New Dollar, an SDR global currency, or a state-issued cryptocurrency. The point is to strip away 90% of the wealth held in the old currency.
Indirect “stealth” expropriation has several forms: slow currency devaluation, also known as inflation, or higher taxes and junk fees (not called taxes, but you receive no additional value for the higher fees).
The end result of these policies is you may receive the $2,000 monthly pension you were promised, but after inflation, currency devaluation and taxes, your real purchasing power is $100 in today’s currency.
So what’s difficult to expropriate?
I present some answers in my books An Unconventional Guide to Investing in Troubled Times and Get a Job, Build a Real Career and Defy a Bewildering Economy.
It’s impossible to expropriate one’s skills, experience and social capital. These are intangible forms of capital and so they cannot be confiscated like gold, currency, land, etc.
Land and homes are difficult to expropriate for two reasons: private property is the backbone of capitalism and democracy, and the state confiscating private property would very likely spark a political insurrection that would diminish or threaten the power and wealth of the privileged Elites.
Secondly, it’s very costly for the state to maintain the productive output of real property it has confiscated. Guards must be posted, sabotage repaired, and the immense difficulties of coercing a rebellious populace to continue working what they once owned for the benefit of the state and its privileged Elites must be solved and paid for.
The state can expropriate farms, orchards and workshops for back taxes (or some similar extra-legal methodology), but how do you force people to work these properties productively?
As a general rule, whatever the super-wealthy own will be protected from expropriation. Private real property is the foundation of the Elites’ wealth, and while the land of debt-serfs may well be confiscated for back taxes (the wealthy will buy exemptions from rising taxes), those who own land and buildings free and clear constitute a political force to be reckoned with.
But there’s one other asset the state and its ruling Elites cannot expropriate: community.
The state will also have difficulty confiscating assets that are outside its reach.This explains the popularity of owning assets in other nations, and the debate over cryptocurrencies: will states be able to confiscate all cryptocurrencies at will, or is that technically unfeasible?
The main takeaway is this: your skills, knowledge and social capital will emerge unscathed on the other side of the re-set wormhole.
Land and real property you own free and clear (no debt) is likely to remain in your possession, as long as you can pay soaring taxes/junk fees during the crisis phase.
Your financial assets held in centrally controlled institutions will not make it through unscathed; they are simply too easy for central authorities to expropriate.
Regards,
Charles Hugh Smith
for The Daily Reckoning
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