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Gold Closes August At 13 Month High

Cory
August 31, 2017

Craig Hemke joined me today to discuss the strength of gold in the final week of August. After closing at the highest level since July 2015 there are many reasons to be encouraged about the precious metals. We look at all the factors that need to be considered when traders get back to their desks on Tuesday.

Click here to visit Craig’s website for more PM focused commentary.

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Discussion
30 Comments
      Aug 31, 2017 31:16 PM

      BOOM BABY………

        Aug 31, 2017 31:01 PM

        Easy there Jerry.
        We still have 133 years left to go.

          Aug 31, 2017 31:31 PM

          🙂 ……….. I am starting to acquire tulip bulbs for spring…… I need a little diversification

    Aug 31, 2017 31:43 PM

    GDX just put in its best monthly close since last September:

    http://stockcharts.com/h-sc/ui?s=GDX&p=M&yr=11&mn=11&dy=0&id=p25167339904

      Aug 31, 2017 31:36 PM

      For Horse lovers and freedom lovers…….

    cfs
    Aug 31, 2017 31:22 PM

    Gold (but not silver) volume down a bit today in India and Shanghai.
    I don’t know cause.

      Sep 01, 2017 01:28 AM

      Will this give the little guy an advantage….or at least fair playing field………just thought

    Sep 01, 2017 01:28 AM

    Huge Monthly Close For Gold

    by @Goldfinger on August 31, 2017

    https://ceo.ca/@goldfinger/huge-monthly-close-for-gold

      Sep 01, 2017 01:42 AM

      Gold is at $1333 even on the DEC futures contract:

      https://finance.yahoo.com/quote/GC=F?p=GC=F

      Sep 01, 2017 01:22 AM

      Gold, Lithium Stocks Shine
      ByRobert Guy Sept. 1, 2017

      “Mining stocks were the big winners in Australia on Friday, with lithium plays Orocobre (ORE.AU) and Galaxy Resources (GXY.AU) standout performers for the week.”

      “Gold stocks were also strong performers, with Newcrest Mining (NCM.AU) – the world’s fourth largest gold producer – advancing nearly 2%. Independence Group (IGO.AU), which also produces nickel, rallied 4.8%.”

      “Gold miners were boosted during the week by the yellow metal’s move above $1,300 an ounce after North Korea elevated tensions in North Asia by firing a missile over Japan.”

      “Gold was trading around $1,320 an ounce in late Asian trading on Friday, with the metal boost by comments from U.S. Treasury Secretary Steven Mnuchin talking down the U.S. dollar.”

      http://www.barrons.com/articles/gold-lithium-stocks-shine-1504246843?mod=yahoobarrons&ru=yahoo&yptr=yahoo

    Sep 01, 2017 01:53 AM
      Sep 01, 2017 01:09 AM

      Yeup. (what a surprise??) 😉

    Sep 01, 2017 01:14 AM

    > US report on electricity markets and reliability

    “The US Department of #Energy (DOE) has published a new study on Electricity Markets and Reliability, identifying several issues critical for maintaining reliable electricity supply. Specifically, the study was to examine the evolution of wholesale electricity markets, whether they adequately compensate all energy forms on their merits, and regulatory burdens on the energy industry. The report notes that accommodating variable renewable energy (VRE) sources such as wind and solar has led to imposed flexible operation of plants best suited, economically and technically, to continuous operation. The other main impact on coal and #nuclear generation has been competition from low-priced gas. Resilience here depends on adequate gas supplies at times of high demand due to cold weather.

    “Hydropower, nuclear, coal and natural gas power plants provide essential reliability services and fuel assurance critical to system resilience,” so policy needs to focus on maintaining these, along with affordability. The report recommends that the DOE and other federal agencies accelerate and reduce costs for the licensing, relicensing and permitting of grid infrastructure such as nuclear, hydro, coal, advanced generation technologies and transmission. For nuclear power, the report says the Nuclear Regulatory Commission should be “encouraged to ensure the safety of existing and new nuclear facilities without unnecessarily adding to the operating costs and economic uncertainty of nuclear energy”. It suggests that nuclear safety rules should be reviewed under a risk-based approach. The report recognises the importance of zero-emission credits put in place in New York and Illinois last year, valuing the carbon-free attributes of nuclear power.

    The Nuclear Energy Institute welcomed the report’s focus on “the attributes of reliability, resilience, fuel diversity and affordability”, and confirmation “that nuclear energy is a key and necessary contributor to a clean, reliable and resilient electric grid,” with fuel on-site.”

    @ WNN 24/8/17. USA NP #uranium

    Sep 01, 2017 01:29 AM

    For those who can view a monthly chart, silver finds itself in an interesting spot. Big moves are coming soon…

    http://stockcharts.com/h-sc/ui?s=%24SILVER&p=M&yr=16&mn=0&dy=0&id=p21102220870&a=515999153

    Sep 01, 2017 01:44 AM

    (HER) (HRLDF) – Heron ‘Breaks Ground’ at Woodlawn Project (Zinc/Copper)
    @nasdaq on August 29, 2017

    https://ceo.ca/@nasdaq/heron-breaks-ground-at-woodlawn-project

    Sep 01, 2017 01:50 AM

    Mexico Snapshot: Six active juniors
    By: John Cumming – August 30, 2017

    “Americas Silver (TSX: USA; NYSE-MKT: USAS) expects its Cosala district operations in Mexico’s Sinaloa state and its Galena complex in northern Idaho will deliver sustainable annual production of 5 million to 5.6 million equivalent oz. silver. It has a goal to be a “first quartile cost silver producer” by 2018.”

    “The Toronto-based junior says Cosala offers “significant cash flow and exploration upside,” and notes that AISCs at Cosala have fallen 103% since 2014.”

    “Cosala includes the fully funded, US$18-million San Rafael development project that is now under construction and should come on-stream by the end of September, providing what the company describes as “significant cash flow and reduction in cash costs.”

    “For all of 2017, Americas Silver is forecasting total production of 2 to 2.5 million oz. silver, or 5 to 5.5 million equivalent oz. silver at cash costs of US$4 to US$5 per oz. silver and AISCs of US$9 to US$10 per ounce.”

    “In Mexico’s Sonora state, Americas Silver has its San Felipe silver-lead-zinc development project — a high-grade past producer acquired by Hochschild in 2006, which spent US$45 million on the asset. Americas Silver acquired an option on the property for US$7 million and has a second payment due in December.”

    ____________________________

    “Argonaut Gold’s (TSX: AR; US-OTC: ARNGF) primary assets are the production-stage El Castillo gold mine and construction-stage San Agustin gold project in Durango, Mexico, and the production-stage La Colorada gold mine in Sonora, Mexico. It also has the advanced-staged San Antonio gold project in Baja California Sur, Mexico, and Magino gold project in Ontario, as well as more exploration projects in North America.”

    “For the second quarter, Argonaut produced 29,730 equivalent oz. gold at a cash cost of US$785 and AISCs of US906 per ounce. This resulted in adjusted net income of $4.1 million for the quarter.”

    “Argonaut reported in August that mine construction at its San Agustin project is 75% complete and tracking 10–15% under budget. The ore should be loaded on the leach pads in September…”

    http://www.northernminer.com/news/1003789098/1003789098/

    Sep 01, 2017 01:35 AM

    Based on weekly closes, gold broke out five weeks ago — yet most didn’t see it that way…

    http://stockcharts.com/h-sc/ui?s=%24GOLD&p=W&yr=3&mn=0&dy=13&id=p27494291627&a=539465488

      Sep 01, 2017 01:17 AM

      Great weekly chart Matthew. Thanks.