Rick Ackerman and Technicals – Wed 11 Jan, 2017

The USD pop and gold moving down

Rick Ackerman joins us today to share his thoughts on the pop we are seeing in the USD. While Rick does admit that weakness around the world – especially in Europe – are a nice driver but he thinks the dollar size in terms of reserve currency is the real reason for dollar strength. We also touch on how this dollar move is hurting gold but he is not worried about a big drop right now.

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Featuring:
Cory FleckRick Ackerman
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Comments:
  1. On January 11, 2017 at 9:19 am,
    OOTB Jerry says:

    Trump calls CNN……..”fake news” at his press conference.

  2. On January 11, 2017 at 9:29 am,
    Archdeacon (!) Andrew says:

    ….and so he should!!

    • On January 11, 2017 at 10:03 am,
      irishtony says:

      its not just Cnn, Trump should call them all out….The lying B%%%%RDS

      • On January 11, 2017 at 10:36 am,
        OOTB Jerry says:

        looks to me , as if there are a great ” %%%%” of B****rds in your statement….. 🙂

        • On January 11, 2017 at 12:20 pm,
          GH says:

          +100%

        • On January 11, 2017 at 1:35 pm,
          irishtony says:

          Jerry . That was a great reply to my post, you clever little basket……HaHa

          • On January 11, 2017 at 2:06 pm,
            OOTB Jerry says:

            Irish…..glad you enjoyed it….. hope to hear more from you in the coming year…. best

    • On January 11, 2017 at 10:32 am,
      OOTB Jerry says:

      ditto…….and plus one……….

    • On January 11, 2017 at 10:39 am,
      OOTB Jerry says:

      Let’s not forget the WALL…….

  3. On January 11, 2017 at 9:51 am,
    Paul L says:

    The stock market has got shaky market syndrome. It is not date dependent but tweet dependent. Every rally keeps failing and dow cannot hold 19950.

  4. On January 11, 2017 at 9:51 am,
    Silverdollar says:

    Some real indecision taking place in markets today. Dow up a hundred, down a few, back up 75, now back to even. Gold down $8, now about even; USD up almost a point, now down .04. Should be some dojis appearing on lots of charts.

  5. On January 11, 2017 at 9:57 am,
    Silverdollar says:

    Uranium story must be getting to the masses. Some healthy moves today in several issues. UEC, DNN, UUUU

    • On January 11, 2017 at 10:07 am,
      Dan, calgary says:

      I am throwing out a couple thoughts:
      If people are herded out of the main stream stocks they will go to alternative energy to go with the “C02 causes global warming crowd”.
      The nuclear plants are cleaner, safer and technology could come up with a solution to the nuclear waste problem eventually.

      • On January 11, 2017 at 10:18 am,
        Silverdollar says:

        Natcore Tech seems to support somewhat your thoughts; NTCXF although is in solar, not nuclear, but your point still holds. Good thought.

        • On January 11, 2017 at 11:29 am,
          Bob UK says:

          FSLR doing well also.

      • On January 11, 2017 at 11:49 am,
        Wayne says:

        Nuclear waste problem has already been solved.

      • On January 11, 2017 at 12:21 pm,
        GH says:

        Solar stock charts are looking are looking bullish.

        • On January 11, 2017 at 7:49 pm,
          Xriva says:

          GH,
          Which solar stocks do you like ?
          ~X

          • On January 12, 2017 at 10:00 am,
            GH says:

            I don’t follow the sector closely, but I have charts for TAN, FSLR, CSIQ, & NTCXF, and they all look good to me. Well, maybe too late on NTCXF

    • On January 11, 2017 at 10:53 am,
      b says:

      Mining News Digest
      Wednesday 11 January 2017

      World’s top uranium producer Kazakhstan to cut output by 10%

      Analysts qualified the move as a “game changer.”

      Kazakhstan, the world’s top uranium producer, is cutting output of the commodity by 10% this year due to poor market conditions triggered mostly by a global oversupply of yellowcake.

      State-owned uranium company and global production leader, Kazatomprom, said production for 2017 will be reduced by 2,000 tonnes, which is about 3% of the total global output, according Cantor Fitzgerald Canada Research’s figures.

    • On January 11, 2017 at 10:55 am,
      Excelsior says:

      Uranium stocks have had me tied up all day. URRE was up another 30-40% today at points so I sold the last of my position (sold most of it yesterday).

      I picked up some LTBR yesterday and it went on a wild ride today where I sold on the surge and bought it back later in the day.

      UEC, DNN, NXE, UUUU, URG, UEX, GXU – They’ve all been on the move….

      • On January 11, 2017 at 11:02 am,
        Bob UK says:

        URRE is nuts. I was going to buy some today but missed a spike up at the beginning… thought it would come back some and it never did… just took off.

        • On January 11, 2017 at 11:18 am,
          Excelsior says:

          I’ve been waiting for a good spike to sell URRE on, and it arrived yesterday and today. I still have 9 Uranium stocks but Uranium Resources got kicked out my nest, and there were a few others that I pruned back on today’s rally.

          However, the Uranium story sector-wide bounce has been getting more air time again.

          Here is yet another editorial circulating today on the topic we’ve been discussing on here for weeks now:

          Uranium Pops: Is The Rally For Real This Time?
          Jan. 11, 2017

          http://seekingalpha.com/article/4036076-uranium-pops-rally-real-time

          • On January 11, 2017 at 11:23 am,
            Bob UK says:

            What are your thoughts Excelsior – rally to continue or not? That you have sold URRE seems to suggest that you think that this is just a spike?

          • On January 11, 2017 at 11:53 am,
            Excelsior says:

            In that particular stock that extreme of a move seemed unwarranted to me.

            However, all these Uranium stocks have just been through a bear market so much worse and longer than Gold or Silver, so any gains they claw back are well deserved. When Uranium bottomed at $18 and moved back up to $20-21 that started the move. Then this week the news about the reduction in production from Kazakhstan add fuel to the fire. These stocks have all moved a great deal since early December, so I trimmed a bit, but I feel comfortable buying any right back that may take a dip and cool off for a day or two. Longer term I expect many of the stocks to be up many multiples from where they are now, but nothing moves in straight line either.

          • On January 11, 2017 at 12:10 pm,
            Bob UK says:

            Thanks Excelsior.

            I will look to get in on URRE on any pull-back to mid 2.50s. Will see whether it and other uranium stocks settle down in the next few trading days.

    • On January 11, 2017 at 2:50 pm,
      Silverbug Dave says:

      Doc will be happy then.

  6. On January 11, 2017 at 10:41 am,
    OOTB Jerry says:

    McCain……turns info into FBI on Trump……boy did he ever screw up……bye, bye warmonger McCain.

    • On January 11, 2017 at 10:50 am,
      Excelsior says:

      Live Gold chart just took off like a scalded cat over the last hour or so. Currently at $1195 Fib resistance.

      http://www.kitco.com/charts/livegold.html

      • On January 11, 2017 at 10:52 am,
        OOTB Jerry says:

        I noticed that………wonder why…….. 🙂

        • On January 11, 2017 at 10:59 am,
          OOTB Jerry says:

          Do not forget…….Donald likes gold foil on his marble columns

          • On January 11, 2017 at 11:11 am,
            Excelsior says:

            …and toilet seat….. for legendary tweets…. 😉

          • On January 11, 2017 at 11:23 am,
            Bob UK says:

            LOL

      • On January 11, 2017 at 10:57 am,
        Excelsior says:

        Here’s a good chart from Goldfinger showing the fib resistance. I agree with him that it would be surprisingly bullish if Gold closed above $1195 today. Still a few hours from the close so it will continue to be a knife-fight.

        @Goldfinger – “A daily close above $1195 is very positive for $Gold, the $1200 level is just a round number that a lot of people have talked about. + $1188-$1190 now becomes minor support.”

        http://cdn.ceo.ca/1c7cvaj-Gold_Daily_1.11.2017.png

        • On January 11, 2017 at 11:00 am,
          OOTB Jerry says:

          I agree , a close above 1200 would be positive…….

          • On January 11, 2017 at 11:01 am,
            OOTB Jerry says:

            and silver needs to knock out $17

          • On January 11, 2017 at 11:02 am,
            OOTB Jerry says:

            should knock out $17 this week

        • On January 11, 2017 at 1:06 pm,
          Excelsior says:

          Well Gold was deflected from resistance, but that is why they call it resistance…..

          Looks like it will close at $1191 just a little shy of taking out the Fib retracement level.

          Overall still a positive day though….

  7. On January 11, 2017 at 11:15 am,
    Markedtofuture says:

    Tudor Gold Corp. Reports on Final Results of 2016 Exploration Program on Electrum Property

    The Electrum project is a 60:40 joint venture between Tudor Gold (as operator) and American Creek Resources Ltd. (“American Creek”). The Electrum property is located directly between the past producing Silbak Premier mine some 25 km south and Pretium Resources’ Brucejack deposit some 20 km to the north (currently under development with production targeted for 2017).

    http://www.marketwired.com/press-release/tudor-gold-corp-reports-on-final-results-2016-exploration-program-on-electrum-property-tsx-venture-tud-2187721.htm

  8. On January 11, 2017 at 11:25 am,
    OOTB Jerry says:

    HOT NEWS>>>>>>>>fire breaks out at the Watergate, in DC…..on the 13th. fl…….must be a sign…… 🙂

    • On January 11, 2017 at 11:55 am,
      Excelsior says:

      spooky….and yes hot news…..

  9. On January 11, 2017 at 1:35 pm,
    Excelsior says:

    The Government Just Joined A Major Miner Endorsing Minnesota Copper
    Dave Forest – PiercePoints

    “….And elsewhere in Minnesota, regulators are doing their best to support development of discovered mineral resources. Signing off this week on a critical land swap needed by one of the state’s most high-profile new mines.

    That’s the PolyMet copper-nickel mine, being developed by junior PolyMet Mining. Where the U.S. Forest Service Monday agreed to exchange public lands it holds within the planned mine area — in return for PolyMet signing over an equal portion of currently non-federal lands.

    The deal is a complicated one — requiring sign-off by a number of different levels of government. The fact it got done shows officials here are willing to work getting new mines up and running, which is a great sign for future developments in the state.

    Watch for more exploration activity from Rio Tinto and others — and for further steps forward for test-case mines like PolyMet. ”

    http://us7.campaign-archive1.com/?u=ebe67e65b2ddb6385ac79bbb3&id=8acf352db4&e=4e19138086

    • On January 11, 2017 at 1:36 pm,
      Excelsior says:

      U.S. Forest Service Issues Final Record of Decision Authorizing PolyMet Land Exchange
      St. Paul, Minn., January 9, 2017 – PolyMet Mining Corp. $POM $PLM

      “PolyMet is receiving approximately 6,650 acres of surface land above and around the NorthMet ore body. Upon completion of title transfer, PolyMet’s total contiguous surface rights will be approximately 19,000 acres (30 square miles) including the existing #EriePlant, #tailings basin, areas to the north, east and west of the tailings basin, the #TransportationCorridor between the #mine site and the #plant, as well as land above and surrounding the ore body.

      “The Forest Service decision further validates both the Final Environmental Impact Statement and the comprehensive process supporting this Final Record of Decision. This is an incredibly important milestone for PolyMet as we consolidate the surface land and mineral ownership in and around the NorthMet ore body and Erie Plant site,” said Jon Cherry, president and CEO.

      #Copper #Nickel #Platinum #Palladium #Gold #Cobalt #Development #Index

      http://www.polymetmining.com/news/news-releases/u-s-forest-service-issues-final-record-of-decision-authorizing-polymet-land-exchange/

  10. On January 11, 2017 at 3:40 pm,
    GH says:

    I think the dollar goes down from here, gold up, yen and euro up.

    Here’s the weekly yen, lifting off:

    http://stockcharts.com/h-sc/ui?s=%24XJY&p=W&yr=10&mn=0&dy=0&id=p87146502292&a=443807618

  11. On January 11, 2017 at 3:44 pm,
    GH says:

    The US dollar daily chart shows strong support at the 100-101 level in concert with the rising 50 day SMA. Even so, it looks like it wants to keep going down to me.

    http://stockcharts.com/h-sc/ui?s=%24USD&p=D&yr=3&mn=4&dy=0&id=p95036302838&a=453017036

  12. On January 11, 2017 at 6:58 pm,
    wolfster says:

    Could be another reason for copper to continue going up
    https://www.bloomberg.com/gadfly/articles/2017-01-11/mining-s-next-big-boom

    • On January 11, 2017 at 7:11 pm,
      wolfster says:

      Spoke with JJ from excelsior yesterday.Everything moving along nicely.Jan 19 the feasibility gets filed.Have 15 groups interested in being involved in financing/debt for construction.Asked about moving off venture to the big board and he said it was in the plans as so many brokerages especially those in the states had little respect for the validity of their numbers since they were on the venture.My guess would be it happens before the permits come in so possibly the spring

      • On January 12, 2017 at 6:05 am,
        Excelsior says:

        Wolfster – Thanks for the update on Excelsior Mining. Getting the FS out and moving over to the big board would be 2 great value drivers.

        • On January 12, 2017 at 6:54 am,
          Wolfster says:

          The fs came out but is being filed on the 19th. That filing seems to be the catalyst for moving forward with the financing/debt for construction.

  13. On January 11, 2017 at 7:47 pm,
    Dick Tracy says:

    Both Denison mines and Cameco have had big moves the last two days. DT

    • On January 12, 2017 at 6:07 am,
      Excelsior says:

      Almost all the Uranium miners had big moves the last few days with many up double digits both all week long. See the charts I posted up above for some of the exciting action in the Uranium space. It’s getting a bit frothy so I’ve trimmed a few positions back the last few days. Fun times!

  14. On January 12, 2017 at 12:19 am,
    wolfster says:

    Sick dog means after giving her meds I get to see gold get through $1200.hope it holds while I go back to sleep which is hard to do with all the commodities in the green.cant wait til morning it’s like Xmas ..lol

  15. On January 12, 2017 at 7:03 am,
    Wolfster says:

    Ex,any idea on what’s driving gzz price???could it be that cobalt story that Thom made reference to???see no other explanation but loving it just the same

    • On January 12, 2017 at 9:56 am,
      Excelsior says:

      I think it may the big hits that Osisko got, which affects RZZ and thus GZZ. Yes, quite the move recently (yes, also loving it).