Byron King recap of PDAC and the Gold sector
I had soem technical issues this morning but am now back up and running! Since some of the daily editorials had recording issues I am posing a preview to this week’s weekend show.
This is segment 5 with Byron King. We recap the general mood at the PDAC conference and the overall precious metals sector.
Click download link to listen on this device: Download Show
Tune in tomorrow to hear the companies that we discuss in segment 6.
It’s a conscious strategy more than a habit.
Trump’s Weekly Address 3/10/17
Epstein’s out this afternoon, so end of day comes early:
Bob M say’s gold has pretty much bottomed it’s time to get back in the pool, okay Flipper!
http://www.321gold.com/editorials/moriarty/moriarty031017.html
Thanks, Dick Tracy and Bob M.
Meanwhile from the land of fruits and nuts:
Motorcyclists Beat Uber Driver On San Francisco Freeway
Associated Press – 25 minutes ago
SAN FRANCISCO (AP) — Police are searching for as many as 15 men on motorcycles and all-terrain vehicles who pummeled an Uber driver after surrounding his vehicle on a San Francisco freeway this week.
The San Francisco Chronicle reported ( http://bit.ly/2mKOege ) Thursday that police want help from the public to identify suspects.
The attack occurred just after 6 p.m. Wednesday on Highway 101 when the Uber drive’s white Toyota stopped on the highway for unknown reasons and the group of men surrounded it.
Several witnesses shot video of the Uber driver being assaulted after he got out of his car.
The newspaper reports one video shows the Uber driver falling and tumbling as at least two men punched and kicked him.
Police say the car was also vandalized.
What The CIA WikiLeaks Dump Tells Us: Encryption Works
By ANICK JESDANUN and MICHAEL LIEDTKE – Associated Press – 34 minutes ago
Friday, March 10, 2017, in New York. If the tech industry is drawing one lesson from the latest WikiLeaks disclosures, it’s that data-scrambling encryption works, and the industry should use more of it. In the past, spy agencies like the CIA could have simply tapped servers at WhatsApp or similar services to see what people were saying. End-to-end encryption used now by services such as iMessage and WhatsApp makes that prohibitively difficult. So the CIA has to resort to tapping individual phones and intercepting data before it is encrypted or after it’s decoded.
The US Dollar ETF symbol UUP is down .65% which is the lowest it’s been since around Feb 28, 2017. GDX is up 1.99% as of now. Nice.
The precious metal sector is all green on my screen with the exception of TAHO which is down 6.6%.
Thanks CFS.
In Fedspeak, I am seeing a green shoot recovery in gold.
I thought it was grape Kool-Aid?
Cory – Good interview with Byron, and I agree with him that part of the reason for the run up in mining shares at the beginning of each year is the flood of news releases that companies put out leading up to PDAC. However, I’d add that many investors & funds wait until the beginning of the calendar year to position in new stocks, with funds they raised during tax loss selling at the end of the prior year. Jan & Feb are a time of rebalancing and repositioning portfolios.
As for this years decline that started a couple of weeks out, it started with falling Gold/Silver prices, but I agree with Byron that many traders likely wanted to front run the normal seasonal decline and mining shares weakness in March (that happens to fall around and often culminates with PDAC).
Good interview guys.
Off Topic:
http://www.thedailybell.com/news-analysis/modern-fbi-is-an-outgrowth-of-the-gestapo/
Think about it.The Democrats have a nasty habit of accusing the opposition of exactly what they are found later to be doing.
e.g. Podesto’s hiring by the Russians.