Gold hit $1,225… Here’s what the charts are showing now
Doc and I have an in depth conversation focused on gold and silver. Since gold hit the $1,225 support we now need to assess if we will hold or drop below. If we drop below then $1,200 is the next support which needs to hold. As for silver (down just over $1 as we recorded), Doc is looking at silver to show him the future moves for gold.
Click download link to listen on this device: Download Show
keith neumeyer, on reason for smash in gold & silver : http://kingworldnews.com/is-this-why-the-smash-in-gold-silver-is-happening/
I am in no way capable of Technical Analysis, so I regret the Doc may be correct.
I do note, however, there was extremely high volume in silver today, and SGE prices are now showing a very high differential to the West. I wonder at what point arbitrage opportunity will negate the drop in the US.
On the other hand the SGE price for gold has not held up.
Volumes on the COMEX are going to be interesting when reported.
16 silver coming, I think thats the point Bob M said he was interested in buying.
Guess those billionaires that dumped PMs were right.
Maybe Sprott is right, everybody buy.
Thanks Doc, was hoping to hear from you.
b, you’re welcome. Thanks for the comment on Bob M.
Klondex drills 3 m of 18.01 g/t Au at Fire Creek
2016-11-10 09:38 ET – News Release
Mr. John Seaberg reports
KLONDEX ANNOUNCES NEW DISCOVERY AT FIRE CREEK MINE; DRILLING CONTINUES TO EXTEND MAIN VEIN SYSTEM
Klondex Mines Ltd. has provided an update on surface and underground drilling at its Fire Creek mine, located in northern Nevada, United States.
Exclusive: Gold Fields, Silver Standard offer C$1.4 bln for miner Kirkland Lake
Fri Nov 11, 2016 – John Tilak and Nicole Mordant (Reuters) –
“South Africa’s Gold Fields Ltd and Silver Standard Resources Inc have made three joint, unsolicited bids for Canada’s Kirkland Lake Gold and recently sweetened their offer to about C$1.4 billion ($1 billion), three sources familiar with the process said….”
Just a reminder that the Metals Investment Forum is this weekend, so they’ll probably have up video Corporate Presentations next week from many of the companies.
Here are the featured companies for this weekend:
https://www.metalsinvestorforum.com/exhibitors/current-exhibitors
Kirkland Lake Gold Addresses Market Rumours
(Marketwired – Nov. 11, 2016) – Kirkland Lake Gold Inc. (TSX:KLG)
“As disclosed in the Joint Management Information Circular of Kirkland Lake Gold and Newmarket Gold Inc., Kirkland Lake Gold received a joint, unsolicited, written Acquisition Proposal, and a revised Acquisition Proposal prior to the mailing the Circular. The Company also acknowledges it recently received a further revised Acquisition Proposal with an expressed notional value of $1.44 billion payable in cash and shares of Silver Standard Resources Inc. All of these proposals were made on a joint basis by Gold Fields Netherlands Services B.V. and Silver Standard Resources Inc.”
Gold, Miners Under Trump
Adam Hamilton
Nov 11, 2016
http://www.321gold.com/editorials/hamilton/hamilton111116.html
The Market, Under a New President
McClellan Financial Publications, Inc
Posted Nov 11, 2016
http://www.321gold.com/editorials/mcclellan/mcclellan111116.html
Short Bonds & Buy Silver!
Also: Technical Analysis on Precious Metals ETFs & GOLD & Miners
Morris Hubbartt
Super Force Precious Metals Video Analysis (click blue links for TA VIDEOS)
Nov 11, 2016
I consider this the best news I’ve heard today:
http://www.zerohedge.com/news/2016-11-11/chris-christie-booted-trump-transition-team-chairman
Good call on 1225 Doc. A ounce should come. If those moving averages are not retrieved fairly soon, I agree, it’s going to take some time to repair.
I don’t know why you guys use SLV
http://stockcharts.com/h-sc/ui?s=%24SILVER
If you look at the continuous contract for silver I do not see problems!
Silver Futures PricesFri, Nov 11th, 2016
Current Prices
Main View
Contract Last Change Open
SIY00 (Cash) 17.2540 -1.3090 18.5440
SIX16 (Nov ’16) 17.335 -1.381 18.705
SIZ16 (Dec ’16) 17.250 -1.487 18.605
SIF17 (Jan ’17) 17.400 -1.373 18.640
SIH17 (Mar ’17) 17.350 -1.501 18.725
SIK17 (May ’17) 17.430 -1.486 18.800
SIN17 (Jul ’17) 17.500 -1.480 18.850
SIU17 (Sep ’17) 17.900 -1.142 18.420
SIZ17 (Dec ’17) 17.700 -1.431
SIF18 (Jan ’18) 17.781 -1.377 0.000
SIH18 (Mar ’18) 17.827 -1.377 0.000
SIK18 (May ’18) 17.861 -1.377 0.000
SIN18 (Jul ’18) 17.895 -1.377 0.000
SIU18 (Sep ’18) 17.942 -1.377 0.000
SIZ18 (Dec ’18) 17.989 -1.377 0.000
SIN19 (Jul ’19) 18.116 -1.377 0.000
SIZ19 (Dec ’19) 18.236 -1.377 0.000
SIN20 (Jul ’20) 18.407 -1.377 0.000
SIZ20 (Dec ’20) 18.560 -1.377 0.0000
SIN21 (Jul ’21) 18.733 -1.377 0.000
TRUMP FORCES BLACK FAMILY FROM HOME
Ha Ha
He gave them more than 60 days notice.
Hi Cory and Doc,
Doc you are still the master. Can you guys post a chart on the technicals discussed please?
According to the NY Post, the Clintons’ recent purchase of their neighbor’s home in Chappaqua was a strategic move to setup Westchester residency for Chelsea who could then run for Nita Lowey’s seat in NYC’s 17th Congressional District.
I hope Trump orders an investigation of the Clinton Foundation so that none of the criminals involved can ever run and win a political position.
Chelsea needs to find a real job
Maybe her and Huma could open a spa or funeral parlour.
Maybe a B&B, and Donna Brazil could be the short order COOK..and Wasserman can wash up the dishes.
Ok,…she can be in charge of buffalo burgers,char broiled slow grilled.
Heard that Michelle Obammy is setting up for a US Senate run next election.
Michelle needs to run for something,…..because no one is going to pay obamy any money for speaking engagements.
Maybe obamy could caddy for Tiger W.
Or go on to ESPN….as a sports commentator
+1
Why these comments never post under the proper replies, I’ll never know! This was supposed to be up CFS comment re investigating Clinton’s.
The mid-day low just might have been the bottom for the miners – or very close to it.
GDXJ 60 minute chart:
http://stockcharts.com/h-sc/ui?s=GDXJ&p=60&yr=0&mn=2&dy=0&id=p14407596662&a=486690674
Gold closed at support but looks like it will go lower on Monday:
http://stockcharts.com/h-sc/ui?s=%24GOLD&p=D&yr=1&mn=3&dy=14&id=p71280710237&a=411098748
A COLLECTION OF TRUMP’S PROMISES:
Trump’s 100-day plan is outlined as the following –
* FIRST, propose a Constitutional Amendment to impose term limits on all members of Congress;
* SECOND, a hiring freeze on all federal employees to reduce federal workforce through attrition (exempting military, public safety, and public health);
* THIRD, a requirement that for every new federal regulation, two existing regulations must be eliminated;
* FOURTH, a 5 year-ban on White House and Congressional officials becoming lobbyists after they leave government service;
* FIFTH, a lifetime ban on White House officials lobbying on behalf of a foreign government;
* SIXTH, a complete ban on foreign lobbyists raising money for American elections.
On the same day, I will begin taking the following 7 actions to protect American workers:
* FIRST, I will announce my intention to renegotiate NAFTA or withdraw from the deal under Article 2205
* SECOND, I will announce our withdrawal from the Trans-Pacific Partnership
* THIRD, I will direct my Secretary of the Treasury to label China a currency manipulator
* FOURTH, I will direct the Secretary of Commerce and U.S. Trade Representative to identify all foreign trading abuses that unfairly impact American workers and direct them to use every tool under American and international law to end those abuses immediately
* FIFTH, I will lift the restrictions on the production of $50 trillion dollars’ worth of job-producing American energy reserves, including shale, oil, natural gas and clean coal.
* SIXTH, lift the Obama-Clinton roadblocks and allow vital energy infrastructure projects, like the Keystone Pipeline, to move forward
* SEVENTH, cancel billions in payments to U.N. climate change programs and use the money to fix America’s water and environmental infrastructure
Additionally, on the first day, I will take the following five actions to restore security and the constitutional rule of law:
* FIRST, cancel every unconstitutional executive action, memorandum and order issued by President Obama
* SECOND, begin the process of selecting a replacement for Justice Scalia from one of the 20 judges on my list, who will uphold and defend the Constitution of the United States
* THIRD, cancel all federal funding to Sanctuary Cities
* FOURTH, begin removing the more than 2 million criminal illegal immigrants from the country and cancel visas to foreign countries that won’t take them back
* FIFTH, suspend immigration from terror-prone regions where vetting cannot safely occur. All vetting of people coming into our country will be considered extreme vetting.
Next, I will work with Congress to introduce the following broader legislative measures and fight for their passage within the first 100 days of my Administration:
Middle Class Tax Relief And Simplification Act. An economic plan designed to grow the economy 4% per year and create at least 25 million new jobs through massive tax reduction and simplification, in combination with trade reform, regulatory relief, and lifting the restrictions on American energy. The largest tax reductions are for the middle class. A middle-class family with 2 children will get a 35% tax cut. The current number of brackets will be reduced from 7 to 3, and tax forms will likewise be greatly simplified. The business rate will be lowered from 35 to 15 percent, and the trillions of dollars of American corporate money overseas can now be brought back at a 10 percent rate.
End The Offshoring Act. Establishes tariffs to discourage companies from laying off their workers in order to relocate in other countries and ship their products back to the U.S. tax-free.
American Energy & Infrastructure Act. Leverages public-private partnerships, and private investments through tax incentives, to spur $1 trillion in infrastructure investment over 10 years. It is revenue neutral.
School Choice And Education Opportunity Act. Redirects education dollars to give parents the right to send their kid to the public, private, charter, magnet, religious or home school of their choice. Ends common core, brings education supervision to local communities. It expands vocational and technical education, and make 2 and 4-year college more affordable.
Repeal and Replace Obamacare Act. Fully repeals Obamacare and replaces it with Health Savings Accounts, the ability to purchase health insurance across state lines, and lets states manage Medicaid funds. Reforms will also include cutting the red tape at the FDA: there are over 4,000 drugs awaiting approval, and we especially want to speed the approval of life-saving medications.
Affordable Childcare and Eldercare Act. Allows Americans to deduct childcare and elder care from their taxes, incentivizes employers to provide on-side childcare services, and creates tax-free Dependent Care Savings Accounts for both young and elderly dependents, with matching contributions for low-income families.
End Illegal Immigration Act Fully-funds the construction of a wall on our southern border with the full understanding that the country Mexico will be reimbursing the United States for the full cost of such wall; establishes a 2-year mandatory minimum federal prison sentence for illegally re-entering the U.S. after a previous deportation, and a 5-year mandatory minimum for illegally re-entering for those with felony convictions, multiple misdemeanor convictions or two or more prior deportations; also reforms visa rules to enhance penalties for overstaying and to ensure open jobs are offered to American workers first.
Restoring Community Safety Act. Reduces surging crime, drugs and violence by creating a Task Force On Violent Crime and increasing funding for programs that train and assist local police; increases resources for federal law enforcement agencies and federal prosecutors to dismantle criminal gangs and put violent offenders behind bars.
Restoring National Security Act. Rebuilds our military by eliminating the defense sequester and expanding military investment; provides Veterans with the ability to receive public VA treatment or attend the private doctor of their choice; protects our vital infrastructure from cyber-attack; establishes new screening procedures for immigration to ensure those who are admitted to our country support our people and our values
Clean up Corruption in Washington Act. Enacts new ethics reforms to Drain the Swamp and reduce the corrupting influence of special interests on our politics.
On November 8th, Americans will be voting for this 100-day plan to restore prosperity to our economy, security to our communities, and honesty to our government.
This is my pledge to you.
And if we follow these steps, we will once more have a government of, by and for the people.
Thanks for posting.
Meanwhile with 70 days to the inauguration entrenched Republicans are planning to protect their corrupt schemes….
Of course, these career politicians are all smiles up front. “Donald Trump pulled off an amazing political feat. He deserves tremendous credit for that,” said House Speaker Paul Ryan, who throughout the election refused to endorse Trump and only last month declared he’d no longer defend him.
But political insiders are already hearing whispers that all is not well in Washington, D.C.
Even as GOP leaders pledged to work together with Trump, there are signs of serious mistrust.
While making nice in a public meeting, Senate Majority Leader Mitch McConnell hinted to reporters that GOP lawmakers will obstruct Trump’s attempts to put term limits on politicians.
“It will not be on the agenda in the Senate,” McConnell promised.
At a post-election news conference, McConnell also declined to endorse Trump’s signature border wall with Mexico.
And on trade, Trump has denounced the unpopular 12-nation Trans-Pacific Partnership negotiated by the Obama administration, yet some establishment Republicans remain convinced that they’ll still push through the deal.
“The big question is trade. Gotta have trade,” said GOP Sen. Pat Roberts of Kansas, who chairs the Agriculture Committee.
Is it any surprise? Establishment politicians know Trump has vowed to “drain the swamp.”
SGE is closed with Gold at about $1240.53, and Silver at about $18.56
The train has NOW derailed my friends and an apology is in order:
First off gold 1341 Trump night sure must’ve been earth shattering for that split second .
Anyway NICE call on gold 1225 Doc and Cory, wish I had MY money on you guys lately. Congrats and you have my undivided attention now AND always.
Cheers!
David, cheers. Thanks for the comment. I usually speak about odds since no one has a true divining rod. Once in awhile I’ll be aggressive on my calls but will refer to odds when the technicals are murky. I mentioned I’m using silver as a proxy for where gold will head in the short term and medium term and those odds are telling me strongly to watch for silver 16.
Thank you kindly sir, you just got another fan.
What do you think about holding an inverse ETF’ here and now?
Cheers Doc!
I have been calling for $19 GDX for a long time but it could get worse after a bounce up.
Thanks