Rick Ackerman – What’s ahead for copper, gold, and US markets
We wrap up the markets today with Rick Ackerman. He shares his outlook for copper, gold and US equity markets. We discuss what copper is usually telling us when heading higher but we do not see that in the global economy. As for gold Rick still wants to see some technical levels he is watching exceeded. Finally the US markets have Rick worried and he shares how he will be positioned for a pullback.
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Thanks, SD. I’m still at the Jersey Shore — and crossing my fingers, since I’ve never even occupied the home I’m moving into.
Catastrophe Bond Investors Face Wipe Out As Hurricane Irma Approaches
With Hurricane Irma expected to make landfall in Florida sometime on Sunday according to the latest NHC forecast, catastrophe bond investors are faced with a choice: sell at up to 50% off, or suffer a near certain wipe out on your investment.
Hurricane Irma Could Destroy Oil Demand
“The two storms’ impacts on the oil market could be drastically different… Irma’s effects on the energy sector would be felt pretty much only on the demand side of the equation. Florida has little to no supply-side infrastructure – negligible levels of oil production and refining capacity. ”
http://www.zerohedge.com/news/2017-09-06/hurricane-irma-could-destroy-oil-demand
Markedtofuture, Really?
I doubt if Nick Cunningham knows much more about oil demand after a hurricane than Richie Cunningham.
The author of that zerohedge piece is a tree-hugger living in Vermont.
Have you ever suffered wetness from a storm……there’s lots of energy used to dry things out. So any loss of demand from bunkering down will soon be gained from cleaning up and drying out.
In case you missed these 2 Ex.First is on golden valley second is news from abitibi royalties. Note the update on east Malartic.
http://www.metalsnews.com/t1176015i
http://abitibiroyalties.com/news/2017/september5/
https://youtu.be/waCbq2KioEk?t=32
Ira’s metals
Brother John knows little about cryptos.
Zuckerberg “Admits” Facebook Conspired With Russians To Tank Hillary’s Campaign
Apparently, after digging through advertising data for the better part of full year now, Facebook felt compelled to let us know that they found a ‘staggering’ $50,000 worth of ad buys that ‘MAY’ have been purchased by Russian-linked accounts to run ‘potentially politically related’ ads. No really, Facebook, a $500 billion company, actually thinks that $50,000 worth of ad revenue is news and quite literally could have changed the course of American history.
I would be thought of as racist if I bet their ethnic background.
IN THE LAST 37 TRADING DAYS: GLD ADDS 9.02 TONNES WITH GOLD HIGHER BY $100.75 .
When Rick A gives out those very precise gold targets of his,
Does he mean gold needs to close the day above the target price?
Or just trade above the target intraday?
Cheers.
Skeeta, Rick’s numbers have nothing to do with closing prices.
Thanks for clarifying that for me Matthew,
Cheers.
1353.10………..1349.70……..I am with Rick…..I want to see it happen , before getting excited.
I don’t care what gold does. I’m excited about NSRPF’s Wits2.
KL now owns 18% of Novo and one day may try to take over the whole shebang. What were the fools at NEM thinking, giving up 9.9% of Nova @ $1.20 (US) a share?
Needed the exposure…..and money……… 🙂
Bobby M…….could chime in on this one and give us his expertise ……….
As far as China’s copper use, don’t forget the huge infrastructure needs for the new Silk Rd. Ports, Roads, Bridges, Airports, etc.
So how you liking Florida Rick………just in time to experience Irma? Good luck to you……….