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Monday
Apr152019

Wheaton Precious Metals Corporation: On The Up

Preamble

In 2010 we became big fans of the ‘streaming model’ and as it was known then Silver Wheaton Corporation (SLW) which has been very kind to us over the years. On the 8th September 2010 we penned a short piece entitled;

Silver Prices: Dare To Dream

A short snippet follows:

Now, remember if you don't have dreams, they can’t come true, so line up a few things that are unique in terms of dreams to you and then prepare the road map of how to achieve them. We won’t bore you with our dreams as they vary from the simplistic to the ridiculous. However, our road map consists of holding a core position in the physical metals along with a small list of mining stocks and some cash for trading purposes. At the moment we utilize the recommendations as stated in our premium options trading service to boost our returns along with the occasional more cavalier trade being posted on our sites.

In this instance our road map involves taking a spread of Call Options on our favourite stock, SLW, with the following purchases.

December 2010 $26.00 Calls @ $1.55

December 2010 $30.00 Calls @ $0.58

December 2010 $35.00 Calls @ $0.18

January 2011 $26.00 Calls @ $2.00

January 2011 $27.00 Calls @ $1.64

This trade was thought by some to be a bit of a stretch, however, if you are in the business of predictive analysis you do need to arrive at an actionable conclusion and put your hard-earned cash on the line. We were very fortunate as all of these trades returned more than a 100% profit.

A Brief update on this stock.

Today Silver Wheaton Corporation has a new name; Wheaton Metals Corporation (WPM) and historically

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Tuesday
Apr092019

In The Event Of A Fiat Currency Collapse Would Gold Rocket? 

Preamble

One of the reasons given for allocating a portion of one’s investment assets to the precious metals sector such as physical gold is that gold can be considered as an insurance policy against the devaluation of paper money. On my office wall I have framed various bank notes from an 'inflationary' period of time which include the following:

2,000,000 marks, Germany 1923

100,000,000 Pengos, Hungry 1946

5,000,000 Kwanza, Angola 1995

100,000,000,000,000 dollars, Zimbabwe 2008





These bank notes serve as a reminder that currencies can be devalued in dramatic fashion and eventually become worthless. In today's world we are reliant on a number of Fiat currencies of which some could suffer a similar fate

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Wednesday
Apr032019

Pound Rallies As Commons Pass Bill Requesting Another Brexit Delay By One Vote

Succeeding in their latest attempt to head off a no-deal Brexit, the Commons has passed the Cooper Letwin bill legally requiring Prime Minister Theresa May to request another delay of Article 50 if the UK looks to be on the cusp of leaving the EU without a deal.

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Monday
Mar112019

Gold Fails At Critical Resistance Level 

 Preamble

Since the last all-time high of $1900/Oz made in 2011 Gold Bugs have taken it on the chin as gold fell from grace resulting in many investors leaving this space in search of greener pastures. In recent years gold has levelled out and is indeed shaping up for a comeback as it once again eyes the near-term resistance level of $1350/Oz.

For many investors breaching this level won’t be good enough to tempt them into parting with their cash, it will take something more substantial like a weekly close above $1450/Oz. And that is only the point that they start to think;

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Tuesday
Feb262019

Gold To Obliterate The Resistance Level Of $1350/Oz 

 

<p><span style="font-size: 140%;">It feels like a distance memory since gold traded at the heady heights of $1900/Oz, since then the bears have been in control and gold has been savaged along with the associated <strong><a title="http://www.skoptionstrading.com/updates/2011/8/23/425-gain-in-8-weeks-for-sk-optiontrader-subscribers.html?a_aid=4ff63c167fff1" href="http://www.skoptionstrading.com/updates/2011/8/23/425-gain-in-8-weeks-for-sk-optiontrader-subscribers.html?a_aid=4ff63c167fff1" target="_blank">mining stocks</a></strong>.</span></p>
<p><span style="font-size: 140%;">However, since 2016 gold has been making somewhat of a comeback and is now trading close to $1350/Oz. This is a level that it has tried to pierce on 6 or more occasions and failed as each rally ran out of steam, they were head fakes disguised as a rally. This resistance level needs to be obliterated with some gusto and <strong><a title="http://www.gold-prices.biz/home/2009/5/28/randgold-resources-limited-take-profits.html" href="http://www.gold-prices.biz/home/2009/5/28/randgold-resources-limited-take-profits.html" target="_blank">gold</a></strong> needs to find the traction to take out the next resistance level which is $1400/Oz before there is more or less a clear run to $1800/Oz and then new all-time highs of $2000/Oz and beyond for gold.</span></p>
<p><strong><span style="font-size: 140%;">A quick look at the gold chart</span></strong></p>
<p><strong><span style="font-size: 140%;"><span class="full-image-block ssNonEditable"><img style="width: 550px;" src="/storage/Gold Chart 26 February 2019.jpg?__SQUARESPACE_CACHEVERSION=1551151973911" alt="" /></span><br /></span></strong></p>
<p><span style="font-size: 140%;">The above chart shows the resistance $1350/Oz in red and also shows in blue squares the number of attempts it has made over the last 5 years to breakthrough this resistance and failed.</span></p>
<p><span style="font-size: 140%;"><strong style="font-size: 150%;"><a title="https://seekingalpha.com/account/authorboard_overview" href="https://seekingalpha.com/account/authorboard_overview" target="_blank">read more.......</a></strong></span></p>
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Background

It feels like a distance memory since gold traded at the heady heights of $1900/Oz, since then the bears have been in control and gold has been savaged along with the associated mining stocks.

However, since 2016 gold has been making somewhat of a comeback and is now trading close to $1350/Oz. This is a level that it has tried to pierce on 6 or more occasions and failed as each rally ran out of steam, they were head fakes disguised as a rally. This resistance level needs to be obliterated with some gusto and gold needs to find the traction to take out the next resistance level which is $1400/Oz before there is more or less a clear run to $1800/Oz and then new all-time highs of $2000/Oz and beyond for gold.

A quick look at the gold chart


The above chart shows the

Click to read more ...

Thursday
Feb212019

The Beaten Down Gold Sector Starts To Punch Back

Preamble

We have long held the opinion that the fortunes of the precious metals sector is largely dependent on the action or lack of it by the Central Bankers. Of note is the Federal Reserve who have now taken their foot off the accelerator regarding rate hikes in the US. We have stated that we doubt that we will get any rate hikes this year and we might even get a rate cut as the Fed remains “data driven” and has adopted a dovish stance regarding monetary policy.

Central Bank actions regarding monetary policy

There are also other Central Bankers which we need to be aware of as their actions can contribute to the expansion or contraction of the money supply such as the European Central Bank (ECB) and the Bank of England (BOE), etc. On Tuesday the governor of the Bank of Japan (BOJ), Haruhiko Kuroda, gave notice that the central bank was ready to ramp up stimulus if sharp rises in the yen damaged the Japanese economy and undermined his strategy of achieving a 2% inflation target. As we all know money knows no boundaries and will migrate across borders in the blink of an eye. Inflating the money supply tends to weaken a currency and the Yen did fall on this news from the BOJ. It is difficult to make a direct correlation between the Yen weakening and gold prices rising but gold did trade higher following this piece of news.

On the horizon the president of the ECB, Mario Draghi and the governor of the BOE, Mark Carney, are soon to leave their posts. The loss of familiar faces creates a certain amount of uncertainty as we do not know who will replace them and what sort of strategy they will adopt when managing monetary policy. If the replacements are of a dovish disposition, then we would expect gold and silver to be the beneficiaries.

Gold Surges To 11 Month Highs

As we can see from the chart below gold has reacted positively since the golden crossover so we would now like to see gold prices get above the $1370.00/Oz level and settle there. The technical indicators remain in the overbought zone suggesting a near term pullback, but they could also stay there for some time before unwinding. Gold has rallied well since Labour Day and is gaining a tad more air time which is positive for gold bugs.


 

Gold Miners Are finally on the move

The precious metals stocks are now flirting......................

Click to read more ...

Wednesday
Feb202019

Silver Prices are struggling to say above the $16.00/Oz level

As the chart below shows that it is a struggle to stay above sixteen bucks which it needs to do and consolidate those gains before moving to higher ground.

Take good care these are treacherous times.

 gold is doing

Click to read more ...

Thursday
Feb142019

The Gold Bugs Index The HUI To Rock As Gold Rallies

Preamble

The precious metal market has experienced great difficulty for the last 6 years or so as gold and silver prices were beaten down. However, they are now moving higher largely due to a stock market that is in a corrective mode and a Federal Reserve that is in dovish mode. Investors in the stock market are looking to rotate into new market sectors and the Fed’s rate hike cycle looks to have come to an end removing support from the US Dollar. As the dollar weakens gold prices improve as they have an inverse relationship.

Our expectation is that the precious metals stocks will become more profitable and therefore more attractive to the investment community and could even become the “Darlings” of market as the media begins to feature them more often and without the distaste that they have for them at the moment.

Click to read more ...

Monday
Feb112019

Gold Prices Taking A Breather Or Something Worse?

Background

I first traded gold back in 1980 and have been active in this sector of the market ever since then. However, as a Gold Bug at heart I am not a Perma-Bull and at different times I have been long or short in this space through via the normal buying and selling methods and also by utilizing the options market to generate profits.

Being a Perma-Bull or Perma-Anything makes no sense to me as the market goes up and comes down. It is all about being positioned on the right side of a market sector, being with it and not against it. If you have to be a bear at times so be it, it is better than losing your shirt.

Preamble on Gold and Silver

As we understand it in 2018 Central Banks bought 651 tonnes of gold and are showing a renewed interest in the precious metals sector, which if true, is very good news for the demand side of this commodity. We have also read a number of articles by some of the big banks who are predicting higher prices for gold going forward. If their research could be relied on and assuming that they didn’t want to see the price go higher in order to unload some of their holdings, then this would also be good news for gold and silver.

 

 

    

Overbought gold to correct in the near term, but long term will go higher

More.........

 

 

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Tuesday
Feb052019

SSR Mining Inc Continues To Mature 

 Preamble

A few years ago, the formally named Silver Standard changed their name to SSR Mining (NASDAQ: SSRM), to better reflect their involvement in both silver and gold mining activities. The previous name suggested that it was predominantly a silver producer, however since acquiring the Marigold gold mine in Nevada the newly named SSR Mining Inc is now largely a gold producer.

On 4th July 2017 we posted an article entitled; “Silver Standard Is Now In The Bargain Basement: Buy” and since then the stock has had a torrid time along with most of the precious metals mining operators but of late has showed considerable strength. Fast forward nineteen months and the picture has improved dramatically for SSRM as it could have been acquired for $9.24 back then and today the cost would be in the order of $13.88, registering a gain of 50.2%

At the time of acquisition gold was trading at around $1210/Oz and today it stands at $1313/Oz. However not all in this sector have been so fortunate as the Gold Bugs Index, the HUI clearly demonstrates. The HUI stood at 180 back in July 2017 and today it stands at 168 registering a loss of 6.7% over the same period that SSR Mining Inc made very good progress.

A Quick Look At The Chart Of SSR Mining

The chart below shows the acceleration of the stock price over the last six months and the steepness of the ascent suggests that it may have ran too far too fast. The technical indicators such as the RSI which stands at 74.78 is firmly in the oversold zone, likewise with the MACD and the STO both of which look set to rollover and head south.


Financials

In July 2017 we wrote:

Click to read more ...