Watch out for the drop in precious metals and the stocks
Today with Doc we focus on the drop in the precious metals. With the PMs entering oversold conditions (or very close to oversold on the weekly charts) it is reasonable to expect a snap-back next week. the concern is with the stock which are playing catch-up and not holding up as well as in the past couple weeks.
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This small Gold producer is still buzzing from Eric Sprott’s recent endorsement:
Resource Capital Gold Corp (RCG.V)
$0.32 up +$0.04 (+14.29% gain)
Resource Capital Gold Corp (GDPEF)
$0.246 up +$0.031 (+14.42% gain)
AN EMERGING NORTH AMERICAN GOLD-SILVER PRODUCER
Corporate Slide Presentation – OCTOBER 2016
http://www.rcgcorp.ca/assets/docs/RCG_Corporate_Presentation_October_2016_2.pdf
This Gold Producer and Specialty Metals Development company is up nicely for me today on the OTC, but it is just playing a bit of catchup. Still Green is Good on a day like this when the metals are down:
Alkane Resources Ltd (ALKEF)
$0.3131 up + $0.0638 (25.58% gain)
Alkane Resources Ltd is an ASX and OTCQX (US) listed multi-commodity mining and exploration company with a focus on gold, copper, zirconium, hafnium, niobium and rare earth elements.
Alkane Resources – (ALKEF) (ALK.AX)
2016 Shareholder Presentations Melbourne – November 2016
The subsector doing the best today with Gold appears to be the Development Stage and near-term producers. There are about a dozen up on the OTC.
(Yes, I realize that some may not match the primary listing of these companies exactly, although most of these are also up in their Canadian or Australian listings as well).
This is more to show the trend that US buyers are still bidding up good development stage mining stocks that are making real progress regardless of the spot price of the metal:
Gold Development – Near Term Producers Symbol % Chg
BLACKHAM RESOURCES LIMITED (BKHRF) 11.54%
MERREX GOLD INC (MXGIF) 8.53%
NAUTILUS MINERALS INC (NUSMF) 4.84%
GOLD ROAD RESOURCES LIMITED (ELKMF) 4.76%
TMAC RESOURCES INCORPORATED (TMMFF) 3.68%
MEXUS GOLD US (MXSG) 2.79%
AVNEL GOLD MINING LIMITED (AVNZF) 2.56%
GOLDEN DAWN MINERALS INC (GDMRF) 2.30%
K92 MINING INCORPORATED (KNTNF) 2.29%
ENTREE GOLD INC (EGI) 1.81%
VICTORIA GOLD CORPORATION (VITFF) 0.30%
INTEGRA GOLD CORP (ICGQF) 0.30%
All I know is I bought JDST ($500 worth) at $34 this week and will be taking MY profits this hour. 🙂
Gold Headed Lower Under $1,000 into the Abyss – Armstrong
India is moving now to confiscate gold after going after the cash. Currently, each married woman is entitled to 500 grams, each unmarried woman 250 grams, and each man 100 grams of gold. Everything that goes beyond is classified as illegal possession and thus will be confiscated. There is no restriction on the possession of the jewelry only if the jewelry was purchased by inheritance. Prime Minister Narendra Modi is giving more power to tax authorities rather than dealing with corruption. They will be shaking people down for money. Unlike FDR who confiscated gold from the banks, Modi is allowing the tax people to go door to door.
This is the problem I have been warning about with gold. It is losing it safe haven status for it is getting to the point you cannot travel with it, keep it in a safe deposit box, or show gold with jewelry. In Italy, if it looks like you have excessive jewelry, they pull you over and weigh it at the border.
This is all part of the Hunt for Taxes. India is setting the tone. The danger will be if others follow. Trump would stand in the way of such policies in the United States. But in Europe, we may see the same policies take effect to different degrees. All they need do is claim that terrorists are using gold to fund their operations.
Everything is still on target for the move under $1,000 into next year.
I almost posted earlier.
What if Modi succeeds?
Whats gold going to be priced at?
The entire western world and the bank are on his side.
Whats gold worth when ya gotta hide it?
Indians have a proud history of revolt against autocracy – if I were Modi I would not be making long term plans.
Message to Modi: Do No More Harm
My Dear Friends,
Modi in all probability has killed himself due to what he has already done to the currency in India. I have a home in India. Having lived there on and off for quite a few years, I can assure you gold is as much a spiritual factor as an economic item to Indians. Modi will not confiscate gold outside of some proven limited tax situations. I see this as misinformation. So does Bloomberg.
If he touched the “Golden Temple” he would start an armed revolution against the state in India, that I assure you of.
Best Regards,
Jim
Message to Modi: Do No More Harm
December 9, 2016
India again posted world-beating growth numbers last week: Gross domestic product grew 7.3 percent in the quarter between July and September. But the question remains, so what? After all, none of this data covers the period after Nov. 8, the date Prime Minister Narendra Modi abruptly declared 86 percent of India’s currency would be withdrawn from circulation.
In the weeks since, the chaos accompanying “demonetization” hasn’t eased up noticeably. It seems likely the disruption to the economy, especially in cash-centric rural India, will hit growth sharply for at least a few quarters. It’s tough to say for how long and by how much; we are in uncharted territory here and guesses have varied widely. But many analysts agree with former Prime Minister Manmohan Singh, who’s predicting the new policy will knock 2 percentage points off that world-beating GDP growth rate.
It’s too late for Modi to backtrack now, not least because demonetization remains, in spite of all the chaos, relatively popular politically. But it’s crucial that the government not compound its mistakes going forward.
More….https://www.bloomberg.com/view/articles/2016-12-04/after-demonetization-modi-should-do-no-more-harm
I am not sure why Indian people tolerate what Modi has done. If this was done in China, he just turn the whole country into criminals and turn himself into a dead man. Unbelievably stupid. Why you punish people who have nothing to do with corruption.
Regarding your post – “Modi in all probability has killed himself due to what he has already done to the currency in India.”
Please note that Jim Sinclair retracted that post, it has now gone.
To me, anyone who makes statements then deletes them without an explantion is a charlatan who is not prepared to stand by what he says.
Everyone should be aware not to fall into the trap of linear thinking. Going down so obviously will continue. Adam Hamilton has some interesting thoughts on the gold price: http://www.321gold.com/editorials/hamilton/hamilton120916.html
Thanks Silverdollar. Good to see you posting again the last few days. Cheers!
Where is the discussion of gold and silver manipulation – or do you ignore this like the mainstream media Let’s smash silver !!
http://www.zerohedge.com/news/2016-12-08/deutsche-bank-provides-smoking-gun-proof-massive-rigging-and-fraud-silver-market
Sold some IVN.TO today.
Big Money Intends To Shut Down Our Website — Paul Craig Roberts
December 8, 2016 | Categories: Articles & Columns | Tags: | Print This Article Print This Article
Big Money Intends To Shut Down Our Website
Paul Craig Roberts
Big Money and the US government controlled by Big Money intend to close down Internet truthtellers. As Trump intends to reduce the tensions between nuclear powers, the 200 List prepared by the shadowy Internet site, PropOrNot, is in Trump’s way. Either Trump will be apprised and convinced of the “Russian threat,” or the dissident websites will be promoted to “Muslim apologists” and fall under the ire of Trump’s Iranophobic generals.
Our site, http://www.paulcraigroberts.org, is one of the sites targeted to be closed down. As I recently reported, the US House of Representatives already has passed a bill that creates an interagency executive branch committee that can be used to close down truthtellers on the basis that disagreement with the official propaganda reported as news by the presstitutes constitutes spreading fake news or is proof of conspiring with Russia or Iran (and soon, China) against the United States.
Apparently, Trump wants peace with Russia but war with Iran, a contradiction as Russia will not permit the US to have war with Iran. So if Trump and his generals persist, there will be no lessening of tensions between the US and Russia, and by extension with China.
If this is the outcome, Trump will blow up the planet as surely as Hillary would have done.
If Trump does not reduce tensions with Russia and China, there was no point in electing him.
The United States government is such a criminal institution that it is scared to death of truth. People who lie for the US government and their oligarch controllers prosper. Those who tell the truth are unjustly and harshly persecuted: Manning, Snowden, Assange, Kiriakou, Binney, et. al. And now there is a list of 200 websites to be persecuted.
The dictum of the George W. Bush regime—“you are with us or against
us”—has moved to the next stage. My readers are aware that a brand new website, PropagandaOrNot (PropOrNot), compiled a list of the websites that provide real news and independent analysis and branded them “Russian agents.” In other words, if you tell the truth, you are serving Russia, not the US. To serve the US you must tell lies.
For telling the truth, PropOrNot has put me in their swill bucket:
PropOrNot says that our website has “been identified by the PropOrNot propaganda identification service as repeating, echoing, or referring their audience to Russian propaganda. They are highlighted in YYYs.
The Washington Post presstitute, Craig Timberg, wrote an irresponsible and libelous article publicizing the absurd charges of the shadowy and unknown PropOrNot website. Timberg, being a presstitute and not being a real journalist, failed to identify the people and the money behind the libelous charges made by PropOrNot. He reported the charges as if they were true.
Pam and Russ Martens, proprietors of the delightful website, , have researched PropOrNot to identify the corrupt forces that intend to make it a crime to speak truthfully in America.
It wasn’t easy to find out as those responsible for the website are hidden behind multiple covers like offshore tax avoidance corporations. But this is what they found out:
PropOrNot has an agent address in Sante Fe, New Mexico. An agent address serves “as a virtual address for the creation of limited liability corporations that want to keep their actual principals secret. The address has dozens of businesses associated with it. There should also be a corresponding business listed in the online archives of the business registry at the Secretary of State of New Mexico. However, no business with the words Propaganda or PropOrNot or YYY exist in the New Mexico business registry, suggesting PropOrNot is using a double cloaking device to shield its identity by registering under a completely different name.”
Obviously, those behind PropOrNot are either so ashamed of their perfidy or they are such public names that they want to stay hidden so that the American public cannot know who is determined to replace truth with lie.
And public names it is. The Martens find PropOrNot background ties to the billionaire Koch brothers, to the Lynde and Harry Bradley Foundation, to the Sarah Scaife Foundation (the Mellon fortune), ExxonMobil, US Senators Chris Murphy and Rob Portman, who tie into Citigroup and Goldman Sachs, “two Wall Street behemoths that would very much like to pivot the national debate to anything other than Wall Street power and corruption.”
Read the Martens’ report:-blacklist-of-news-websites/ This is an important report. It shows how money operates against the vast bulk of the American people.
You can see the kind of power that intends to close down truth in America and throughout the entirety of the Western world. How am I going to stand up to this kind of power? I cannot even afford a lawyer to file a defamation suit against the Washington Post, as Naked Capitalism has done. Somehow CounterPunch got off the list. Probably CP has pro bono attorneys. If any of my readers are fighting attorneys, I will split with you any damages you can obtain in a lawsuit against Bezos’ trophy newspaper.
If we get enough money for IPE, I won’t have to make these requests for reader support.
So here is the deal, go after Bezos’ billions. Sue on behalf of this website for libel, and it is a 50-50 split.
I don’t expect any takers, because it is expensive for an attorney to take on the system. If he or she wins the case, he or she is in the money. If he or she loses the case, they are finished. The ruling oligarchy does not forgive; It destroys.
Perhaps the way to minimize the risk is a class action suit in behalf of the 200 on the list. I tried to contact Naked Capitalism about this, but like so much on the Internet, Naked Capitalism is set up only to be contacted by advertisers, etc. A former Assistant Secretary of the US Treasury cannot contact Naked Capitalism. The marvel of the digital era is that communication is impossible.
This website is supported financially by a small percentage of the readership. If each of the 400,000 who read this website contributed $1 dollar per month, I could hire lawyers and engineers to protect this website from libel and from hacking. If the 400,000 readers of this website contributed only $1 per year, it would be enough for me not to have to put up with the scumbag Washington Post, a suspected CIA asset throughout its entire existence.
If the millions of readers worldwide who rely on this website contributed $1 per year, I would be able to take on Bezos and his fake news newspaper and drive the lying presstitutes into the ground.
Alas, I am ready to fight, but where is my army?
Italy is totally bankrupt 3 trillion debt the Euro is NR 1 drop next ????
As more than one link has trouble posting I removed them.
They are @ Paul Craig Roberts site.
I remember PCR writing things are ok until the “truth” sites get removed.
How long till the shut down the system?
Rickards has been saying they would do just that.
The removal of these sites has got to be a clue as to what they intend, they will tell people repeatedly that Russia China Iran are evil over and over until people believe it.
War should be easily justified from there, not that they need justification.
Doc, if I understand your position, you are saying that it is probable for precious metals to get a pop in the near future, then to turn down. Since the stock market PE ratios are in rarified air according to the case shiller index, do you suspect a correction in the stock market soon?
When you look at silver price,you know the smash on gold proves to be difficult. This might be the last push before US government’s effort to crash gold price is hitting a brick wall. Trump is not likely care about gold price and he needs a weaker dollar and higher oil price.
Bought some HBI today.