Comments on the Dollar/Yen and gold
The Yen is moving up today as investors are moving into risk-off plays. We bring Craig Hemke from TFMetalsReport.com on the show to discuss how this is helping gold and what it means to him.
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ditto .
Yep, Craig is on it—
In addition to AAU, LOMLF not so shabby today.
ditto …..good heads up
Nice action on Lion One Metals. I heard about them due to Eric Coffin. They were one of his favorites in 2015, and I like that they’re diversified in different commodities and different jurisdictions…..even Fiji. How often do you have exposure to Fiji? 🙂
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Lion One Metals Limited acquires, explores for, and develops mineral resource properties in Fiji, Australia, and Argentina. The company explores for gold, copper, iron, and uranium ores. Its principal asset is the Tuvatu gold project comprising three special prospecting licenses covering an area of approximately 11,794 hectares located on the island of Viti Levu in Fiji.
Lion One Metals Limited (LOMLF)
0.3571 +0.0576(+19.23%) OTC Markets – As of 3:17PM EDT
Only more manipulation to feed the MARKET and the illusion of reality ! Evil works !!!!
Exactly Cory !
And can diss by the begining off ( END ) ? ? ? Boys !
China opening exchange in two weeks………..cash only for gold……..
I pay attention to what Rick Rule and Sprott are buying, because they are more knowleable than I.
Reported today:
Most recently Mr. Sprott acquired substantial stakes in three gold or silver mining companies, namely Newmarket Gold (OTCQX:NMKTF), Excellon Resources (OTCPK:EXLLF) and Metanor Resources (OTCPK:MEAOF).
I like all 3 companies. I doubt most even realize that Metanor is a producer, or that Newmarket took over and revitalized Crocodile Gold.
Point & Figure bullish price objective= $54.5 for SGDJ.
Crocodile’s last president and CEO is now the CEO of Jaguar Mining. I think he’s just the guy JAG needed right now.
I’m sure you noticed the massive breakout volume right after I bought it. The same thing happened to PGM right after I mentioned it on Monday.
Another triple in just over two months (a little luck never hurts!)…
Agreed on the new CEO of Jaguar being the right man for the job. I will say as someone that was invested with them for years during the 2010-2012 period, that I never stopped waiting to see how things would work out with them. As I’ve mentioned a few times in the last few weeks, I see them as Major League Baseball team, that got sent back down to the Minor league to work on their game, and they are now “back”. They’ve actually been continually improving their costs and efficiency of operations for over a year now, so it reminds me of Claude where they’ve done all the right activity for a long time, but the new management team will take the glory.
What got my attention was when they came out of credit protection after a long time, but with their mines and development projects still in tact. They have 3 operational mines going at 2 primary mining complexes, but have a 3rd mining complex on care and maintenance that will propel them back over 100,000 ounces per year of production, and a nice development stage project, and an exploration project. I consider them a Mid-Tier miner even though their guidance is only 93K for the year.
Way to go on Pure Gold!! Yes that is quite the move and you’ve nailed it again sir.
In a nutshell, I agree. JAG has significant upside. I have continued to buy every little intraday dip despite the move up from my initial purchase.
Gold is forming what looks like a head and shoulders top but I have my doubts.
I have to wonder if the chart for GLD is accurate. If today’s candlestick is for real, it looks bullish to me.
That is why I posted the comment under Docs segment above. It appears to me that it might be breaking out of the handle formation but I may be wrong to.
Enjoy some charts guys 🙂
https://www.tradingview.com/chart/XAUUSD/kadxWoQ1-XAU-USD/
https://www.tradingview.com/chart/SI1!/Pn6w7ZM1-Sell-Silver-Rallies/
https://www.tradingview.com/chart/GC1!/JXEsp8Sc-Head-and-Shoulders/
https://www.tradingview.com/chart/GC2!/t2tFn44l-GOLD-LONGTERM-960-months-8-2016/
https://www.tradingview.com/chart/GC1!/v2qYGzK0-GC-GOLD-Take-1-It-looks-very-promising-to-me/
https://www.tradingview.com/x/9u0hzC7l/
https://www.tradingview.com/chart/GC1!/8qV4bJyL-GOLD-SCENARIOS-2013-2017/
Thanks Mad Max.
P.S> I think you misunderstood the intention of my post on the Chris Temple post from Tuesday. I did respond back to you to clear it up and posted a chart you may like. Once again I apologize for the poorly worded question, and I can see where it would be easy to misinterpret what I wrote. Have a great evening Mad Max 🙂
Excelsior no worries. I wasn’t offended, just replied that i’m not JJ lol. I read your replay there. I have little knowledge of usd/yen relationship to gold so therefore i asked. I only pay attention to DXY and euro.
I just read that japan requires yet to be weak for their exports and good economy so BOJ probably will soon intervene soon to reverse that. Of course that’s speculation. In general no currency can be stronger then USD, hence chinees yuan is always suppressed against USD, otherwise it would rocket. I’m surprised FED is putting up with this unless that’s what they asked of BOJ.
Perhaps Yellen comment with no rate hike weakened the USD and she may be regretting this now, unless that is what fed wants, weaker USD ? This is why i don’t bother with currencies. They are too weird to study. In either case since i’m short gold so i hope this gets reversed soon by BOJ fed intervention. lol. I guess you can tell by charts i posted lol
btw so you guys don’t think i’m perma bear i don’t think gold is going to 800
That’s good. I don’t think gold is going to 800 either, but I’m neutral on Gold right now as it is hard to get a read on where it is going. I see it as a coin toss due to all the moving parts on the global financial scene with currencies, US treasuries/ bond yields, Fed blather about to hike or not to hike?, political hot spots, a general stock market in trouble, etc….. One school of thought sees Gold consolidating and getting ready to break out, while the other side sees a topping pattern and that Gold is about to roll over.
I prepared for either outcome, and have some PM mining stock exposure, but am under-exposed to my ideal position at present in case PMs do roll over. I’ve started adding to more speculative Jrs and unloved smaller producers, where I believe the downside to be limited.
Right on Mad Max, and I found the charts interesting as well as the other comments down underneath them.
Yes I agree that Central Bankers are starting to “go where no man has gone before.” As a result, I do believe they are coordinating the currency wars more than they let on. The central bankers are doing a delicate balancing act and monetary game of “Whack-A-Mole”, where one currency rises as another falls, and then another rises when that currency falls.
As for the the strong Yen/Gold correlation: I’ve posted on it a number of times myself, and the reason I asked you was this was an area where Original JJ and I were usually in good agreement. Turd Fergusson has also discussed the strong Yen/Gold correlation quite often for the last few years. It was good to have him on today to discuss this topic.
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5 Year chart showing the Yen and Gold plotted together. Their correlation is fairly tight over half a decade:
http://stockcharts.com/h-sc/ui?s=%24XJY&p=D&yr=5&mn=0&dy=0&id=p59468365577
The NYSE reversed at the 618 Fib fan resistance and the 500 day EMA. It was unable to reach the 382 resistance of the correlating Fib arc. The new bear market is alive.
Good chart and the makes sense to me. The new bear market is way overdue…..
Nearby fork supports for copper tomorrow come in at 2.07, 2.03, and 2.00
Perfect Matt. If one wants to know where gold is going, look at copper and oil chart.
The Russell gave back the neckline of its big H&S top today. Was the big move out of the February low just a big back test with a bull trap on top? It looks that way to me but we’ll know soon enough.
Looks like it may be time for me to dust off (TZA) again, and get it back off the shelf 😮
Great addition to the repertoire of analysts is TF!