Daily Market Wrap – Tue 3 Jan, 2017

Gold and USD up while Oil has a huge swing – Trump moves markets with Tweets

Chris Temple joins us for the market close. We focus on the upward moves of gold while the US Dollar also moved up. This was a great reminder that that inverse relationship between the dollar and gold is not a consistent one. We then move on to the crazy swings we saw in oil.

Click download link to listen on this device: Download Show

Chris TempleCory FleckAl Korelin
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  1. On January 3, 2017 at 2:21 pm,
    CFS says:

    Trump had effects on GM and Ford with his tweets, too.

  2. On January 3, 2017 at 2:24 pm,
    OOTB Jerry says:

    the swamp will never be the same…………….

    • On January 3, 2017 at 5:08 pm,
      Markedtofuture says:

      Trump Tells DHS To Prepare For Border Wall Construction

      A newly leaked memo from the Department of Homeland Security suggests that the Trump administration plans to hit the ground running on the construction of that U.S.-Mexico border wall when they move into the White House later this month. Overturning Obama’s immigration-related executive orders, expanding aerial surveillance programs and building more detention facilities also seems to be high on the administration’s priority list.


      • On January 3, 2017 at 5:35 pm,
        OOTB Jerry says:

        He has already sent the bill to Mexico……..

        • On January 3, 2017 at 7:56 pm,
          Markedtofuture says:

          Great interview –
          Julian Assange Interviewed By Sean Hannity: Fox News Live Stream

          As previewed yesterday, today at 10pm ET, WikiLeaks’ Julian Assange would be interviewed by Fox News’ Sean Hannity, in a wide ranging discussion touching most notably on whether or not Russia provided WikiLeaks the hacked Democratic emails – as pointed out yesterday, the answer was a “1000%” no.

          For those who are unable, or unwilling to watch, Fox, here is a link to the full interview which will take place over the next hour, until 11pm ET.

          Live feed after the jump


          • On January 3, 2017 at 8:05 pm,
            Markedtofuture says:

            Real DJ Trump Team* ‏@RealDJTrumpTeam 2h2 hours ago
            “The “Intelligence” briefing on so-called “Russian hacking” was delayed until Fri, perhaps more time needed to build a case. Very strange!”


          • On January 4, 2017 at 5:09 am,
            OOTB Jerry says:

            very strange in deed……..

  3. On January 3, 2017 at 2:31 pm,
    CFS says:
  4. On January 3, 2017 at 2:34 pm,
    CFS says:

    SGE closed: Gold $1184.02, Silver $17.90

    • On January 3, 2017 at 5:36 pm,
      OOTB Jerry says:

      $18 tomorrow

      • On January 4, 2017 at 5:23 am,
        OOTB Jerry says:

        silver up nicely early morning Wed…………..

  5. On January 3, 2017 at 2:55 pm,
    CFS says:

    Chris, for your info:

    Bluerock Residential Growth REIT (BRG).

    This Zacks Rank #1 (Strong Buy) company operates as a real estate investment trust. It acquires apartment properties in demographically attractive growth markets throughout the United States. Bluerock Residential Growth REIT, Inc. is based in New York.

    Recent Earnings Results

    Due to strategic acquisitions and prudent management the company posted year over year gains in total revenues +69%, Property net operating income (NOI) +75%, Property NOI margins +220 bps, and Same store NOI +8.1%. The company also made three major changes to their property portfolio during the quarter; acquiring a 90% leasehold interest in a 336-unit, Class A, mixed-use apartment community located in Atlanta Georgia, and a 90-unit to-be-built Class A apartment community located in Boca Raton, Florida. Management also sold Springhouse at Newport News for a sales price of approximately $38.0 million which generate net proceeds of $9.0 million.
    Small, but in your neck of the woods and not too sensitive to interest rates.

    • On January 3, 2017 at 3:45 pm,
      Temple says:

      Great minds think alike — they’re one on my short list. Thanks, CFS!

      • On January 3, 2017 at 6:12 pm,
        CFS says:

        You’re welcome. Thanks for all your commentaries.

  6. On January 3, 2017 at 3:09 pm,
    CFS says:
  7. On January 3, 2017 at 3:34 pm,
    CFS says:
  8. On January 3, 2017 at 3:46 pm,
    Excelsior says:

    How Savvy Investors Use Sentiment to Make Fortunes
    Bob Moriarty for The Gold Report (1/2/17)

    “Bob Moriarty of 321Gold explores how sentiment affects trading in the precious metals markets, and discusses a new service that can help investors gauge sentiment.”


    • On January 3, 2017 at 3:57 pm,
      Excelsior says:

      Site featuring sentiment readings that was referenced in the article from Bob M.


    • On January 3, 2017 at 7:16 pm,
      Steele says:

      This is a key point. It’s critical to understand investor sentiment and control one’s own emotions in these volatile markets.

      • On January 3, 2017 at 8:55 pm,
        Excelsior says:

        Getting a gauge on Sentiment really is a great way to spot turns, when dealing with the emotional mobs of humans and the herd mentality.

  9. On January 3, 2017 at 4:12 pm,
    Chartster says:

    Good stuff, Excelsior! Thanks Bob M!

    • On January 3, 2017 at 8:53 pm,
      Excelsior says:

      Some New Years cheers heading your way Chartster!

      Looking forward to making 2017 a great year.

  10. On January 3, 2017 at 4:34 pm,
    Paul L says:

    Oil only went down because traders had massive profits and it hit a big round number. USO hit $12 so it was time to sell – a rush for the exits. It is time to buy back.

  11. On January 3, 2017 at 6:08 pm,
    OOTB Jerry says:

    Repost……Neumeyer, First Majestic, might be getting ready to sue bullion banks over manipulation……..zerohedge

  12. On January 3, 2017 at 8:59 pm,
    Excelsior says:

    Peter L. Brandt posting this chart and stating the bottom is in for Platinum:


  13. On January 4, 2017 at 1:56 am,
    Excelsior says:

    It was a nice first day of trading in 2017 for the Silver Stocks:

    Silver Stocks SYMBOL % CHG

    Plata Latina Minerals Corporation PLA.V +40.00%
    Brixton Metals Corporation BBB.V +18.84%
    Apogee Opportunities Inc. APE.V +16.67%
    Southern Silver Exploration Corp. SSV.V +15.38%
    Silver One Resources Inc. SVE.V +14.77%
    Alexco Resource Corp. AXU +11.85%
    Aurcana Corporation AUN.V +11.43%
    Levon Resources Ltd. LVN.TO +10.34%
    Silver Dragon Resources Inc. SDRG +8.96%
    Silver Grail Resources Ltd. SVG.V +8.33%
    Fortuna Silver Mines Inc. FSM +8.32%
    SilverCrest Metals Inc. SIL.V +8.05%
    Silver Bear Resources Inc. SBR.TO +8.00%
    Excellon Resources Inc. EXN.TO +7.93%
    Defiance Silver Corp. DEF.V +7.89%
    Endeavour Silver Corp. EDR.TO +7.58%
    Silvercorp Metals Inc. SVM.TO +7.35%
    Coeur Mining, Inc. CDE +7.15%
    Forrester Metals Inc. VEM-H.V +7.14%
    Americas Silver Corporation USA.TO +7.14%
    Nicola Mining Inc. NIM.V +6.45%
    Silver Standard Resources Inc. SSRI +6.39%
    Kootenay Silver Inc KTN.V +6.35%
    IMPACT Silver Corp. IPT.V +6.15%
    First Majestic Silver Corp. AG +5.90%
    Bear Creek Mining Corporation BCM.V +5.53%
    MAG Silver Corp. MAG.TO +5.41%
    Tahoe Resources Inc. TAHO +4.99%
    Hecla Mining Company HL +4.96%
    Santacruz Silver Mining Ltd. SCZ.V +4.84%
    Great Panther Silver Limited GPL +4.82%
    Pan American Silver Corp. PAAS +4.38%
    Avino Silver & Gold Mines Ltd. ASM +4.38%
    Maya Gold and Silver Inc. MYA.V +3.57%
    Silver Wheaton Corp. SLW +2.59%
    GoGold Resources Inc. GGD.TO +1.85%
    Prospero Silver Corp. PSL.V +1.79%
    Hochschild Mining PLC HOC.L +1.37%
    Metallic Minerals Corp. MMG.V +1.30%
    Fresnillo PLC FRES.L +0.95%
    Minco Silver Corporation MSV.TO +0.93%

    • On January 4, 2017 at 2:52 am,
      Excelsior says:

      A number of Gold stocks off to a good start on the first day of trading in 2017.

      ***Gold Mid-Tier Producers SYMBOL % CHG

      Dundee Precious Metals Inc. DPM.TO +15.56%
      McEwen Mining Inc. MUX +11.34%
      Argonaut Gold Inc. AR.TO +9.91%
      Teranga Gold Corporation T GZ.TO +9.76%
      Perseus Mining Limited PRU.TO +9.68%
      Asanko Gold Inc. AKG +8.17%
      China Gold International Resources Corp. Ltd. CGG.TO +7.58%
      IAMGOLD Corporation IAG +7.53%
      Richmont Mines Inc. RIC +6.92%
      Guyana Goldfields Inc. GUY.TO +6.86%
      B2Gold Corp. BTG +6.75%
      Alamos Gold Inc. AGI +6.14%
      Endeavour Mining Corporation EDV.TO +5.93%
      Kingsgate Consolidated Limited KCN.AX +5.45%
      SEMAFO Inc. SMF.TO +5.20%
      Jaguar Mining Inc. JAG.TO +5.17%

      ** Small Gold Producers: SYMBOL % CHG

      Avesoro Resources Inc. AUE.TO +20.00%
      Marlin Gold Mining Ltd. MLN.V +12.07%
      Blackham Resources Limited BLK.AX +11.70%
      Gold Resource Corp GORO +11.03%
      Serabi Gold plc SBI.TO +7.69%
      Premier Gold Mines Limited PG.TO +7.42%
      Troy Resources Limited TRY.AX +6.90%
      Caledonia Mining Corporation Plc CAL.TO +6.90%
      Kidman Resources Limited KDR.AX +6.67%
      Wesdome Gold Mines Ltd. WDO.TO +6.22%

      *Gold Development stage SYMBOL % CHG

      Santa Fe Gold Corporation SFEG +18.49%
      Pure Gold Mining Inc. PGM.V +9.62%
      NewCastle Gold Ltd. NCA.V +9.59%
      Tanzanian Royalty Exploration Corporation TRX +9.52%
      Pilot Gold Inc. PLG.TO +8.99%
      Northern Vertex Mining Corp NEE.V +8.64%
      Hummingbird Resources PLC HUM.L +8.50%
      Pretium Resources Inc. PVG +8.37%
      Dacian Gold Limited DCN.AX +8.26%
      International Tower Hill Mines Ltd. THM +7.89%
      Monarques Gold Corporation MQR.V +7.69%
      Merrex Gold Inc. MXI.V +6.82%
      West African Resources Limited WAF.V +6.82%
      Rupert Resources Ltd. RUP.V +6.33%
      Seabridge Gold Inc. SA +6.13%
      Lydian International Limited LYD.TO +6.06%
      Midas Gold Corp. MAX.TO +5.75%
      Gold Road Resources Limited GOR.AX +5.41%
      Integra Gold Corp. ICG.V +5.36%
      Victoria Gold Corp. VIT.V +5.36%

  14. On January 4, 2017 at 5:21 am,
    OOTB Jerry says:

    La Pen wants out of the EU………zerohedge

    • On January 4, 2017 at 5:30 am,
      OOTB Jerry says:

      correction to my french……Le Pen

  15. On January 4, 2017 at 8:29 am,
    GH says:

    The GLD:SLV ratio argues in favor of this recent low in gold and miner shares as a trend change–the second rejection, at a lower low, by the 200 SMA looks quite bearish to me.

    The lag time between the bottoming of GLD (thick gold line), GDXJ (thin gold line), and GLD:SLV starting to fall was about 2.5 months last year. But they may come closer together now that many more investors are watching more closely.