Comments on the current gold market from The Daily Gold’s Jordan Roy-Byrne
What will it take for the gold market to enter an acknowledged bull phase?
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Batman design on gold today………..look over to the left and see batman design in gold today……. 🙂 …….. the highjackers have a sense of humor…….. 🙂
the right side of the cape will form later today…….. 🙂
Gold and silver action today was most interesting.
They both rose sharply AFTER the opening of the NYMEX.
They both dropped sharply AFTER the closing of the NYMEX.
This, to me, is indicative of foreign buying by perhaps China, and selling by the Treasury (Exchange Stabilization Fund) in attempt to bolster the stock markets.
very interesting with a Batman formation in the 24 hour gold chart…….
What can we expect next month from BAT NUT YELLEN………
I am riding FAT on JDST today! Up 10% and climbing.
+1
On the 2 hour chart, GDXJ was capped by the 600 period MA today and is now filling the June 6 gap. The uptrend that began on May 4 provides support at about $32 today while speed line support comes in at roughly $31.30…
2 hr GDXJ:
http://stockcharts.com/h-sc/ui?s=GDXJ&p=120&yr=0&mn=3&dy=0&id=p35015038823&a=529434709
The gap is now completely filled and we are seeing a bounce from a fork support. I like the fact that the gap-filling plunge happened in such a short period. Such fear-inducing action eliminates a lot of weak hands very quickly.
http://stockcharts.com/h-sc/ui?s=GDXJ&p=D&yr=1&mn=0&dy=0&id=p49042243629&a=529299141
Now they are going postal at San Francisco UPS:
SAN FRANCISCO (AP) — A UPS employee opened fire at a San Francisco package delivery facility on Wednesday, killing three employees and then himself as officers closed in, police said.
San Francisco assistant police chief Toney Chaplin said a news conference that two other employees were wounded in the shooting that prompted a massive police response in downtown San Francisco.
Police have not determined a motive. Chaplin said that the shooter was armed with an assault pistol and put the weapon to his head and pulled the trigger when police found him.
UPS spokesman Steve Gaut told The Associated Press that the shooter was an employee who opened fire inside the facility before the drivers were sent out to do their normal daily deliveries.
Neighbors said they heard up to eight rapid gunshots.
“It was like tat, tat, tat, tat, tat, tat, tat,” said Raymond Deng, who lives across the street from the warehouse.
After the gunfire, auto shop owner Robert Kim said he saw “a mob of UPS drivers” running down the street screaming “shooter, shooter.”
Deng, 30, a data scientist for a start-up company, also saw workers fleeing and another group of about 10 who gathered on the roof and held their hands up as police arrived.
“I saw police officers go up from the ramp and then storm the buildings,” he said. “It’s crazy.”
Police responding to the facility in the Potrero Hill neighborhood, about 2 ½ miles from downtown San Francisco, found wounded victims and pulled them to safety. Then they found the gunman, who killed himself.
Meanwhile on the right coast….
Associated Press – 1 hour ago
BOSTON (AP) — The highest court in Massachusetts ruled Wednesday that privately run hypodermic needle exchange programs can be operated without state or community approval.
The Supreme Judicial Court’s ruling that allows the nonprofit AIDS Support Group of Cape Cod to continue operating in the town of Barnstable ends a yearslong legal battle.
The AIDS Support Group has, since 2009, been providing clean needles to stem the spread of HIV and hepatitis C among drug addicts. It serves about 450 people.
It is a bullish divergence that SLV is up (.2%) while GLD is down (.5%). It would be bullish even if the two were down the same amount since silver typically provides leverage to gold.
GDX:GDXJ blasted higher to fill gaps but is now bearish again (which is bullish for the sector).
http://stockcharts.com/h-sc/ui?s=GDX%3AGDXJ&p=D&yr=0&mn=7&dy=0&id=p86972377621&a=527904195
Big Al, what has happened to Doc? I haven’t heard his input for awhile.
Hey Pardu, Doc is remodeling his house and does not have his internet set up. When his renovation is complete he will be back. I have been able to have a couple chats with him recently and he is doing well but has not been able to join us on the show.
Thanks for asking. I will let him know you miss him.
I’ll help out here, Cory, and fill in for Doc.
“SIdeways to down, Pardu. Sideways to down. ”
You’re welcome.
Haha spot on Ryan. At least through this summer 😉
Galane Gold is up 10% today and looks ready to add to its recent big gains…
http://stockcharts.com/h-sc/ui?s=GG.V&p=W&yr=5&mn=10&dy=0&id=p46534229188&a=477462853
GG registered its highest daily close since November.
http://stockcharts.com/h-sc/ui?s=GG.V&p=D&yr=1&mn=0&dy=0&id=p21448122976
Silver backtested its uptrend support line today and filled a small weekly chart gap in the process:
http://stockcharts.com/h-sc/ui?s=%24SILVER&p=W&yr=6&mn=6&dy=0&id=p89048399603&a=523325696
It’s ‘amazing’ the ‘dirt-cheap’ loonie hasn’t caught Trump’s attention: Rosenberg
Mining Stocks Update (June 13, 2017)
by FI FIGHTER on JUNE 13, 2017
Here is an easier view of Jay’s Portofolio. He is a good stock picker [but I’m biased as I hold 11 of the stocks in there as well 🙂 ]
Surprised there’s no mention anywhere of the permit that excelsior got yesterday
http://www.mining.com/excelsior-adds-key-permit-arizona-situ-copper-mine/
Wolfster – there have been some interesting comments in the MIN room at ceo:
Thanks….I really meant how come there was no mention since they are a sponsor of the site I thought
Yellen seemed to me most reasonable in her response to questions.
Was less dovish than most expected, indicating another rate hike still possible this year.
(After the 0.25% rise today)