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Are Metals Starting A Multi-Week Pullback?

Cory
January 8, 2018

Doc kicks off this week with comments on the move down in metals stocks. After a nice run since the Fed rate hike a pullback would be healthy and consistent with our range bound outlook for the metals until the second half of this year. We also discuss the USD up move today. This could also be playing a roll in the metals stocks pullback.

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Discussion
21 Comments
    Jan 08, 2018 08:02 PM

    China………just discovered 110 Million Tons……of………..SILVER
    http://santiagotimes.cl/2018/01/07/china-just-discovered-over-110-million-tons-of-silver/

      b
      Jan 08, 2018 08:24 PM

      lol. super rare stuff I hear too.

    Jan 08, 2018 08:03 PM

    Doc, with a minor correction in gold and silver in the near term before they move higher later in the year? What are the price targets you think we will hit as pullbacks that would be a good place to buy gold and silver?

      Jan 08, 2018 08:05 PM

      Pardu, I think a good price point would be 1200-1240 for gold and 15-15.50 for silver.

        Jan 08, 2018 08:06 PM

        By the way, Pardu, if prices get close to those areas ask me again since the technicals might show at that point prices might fall further.

      Jan 08, 2018 08:55 PM

      Despite Doc’s newly honed guillotine, I have to keep my neck way out and stick with my “no way.”

      In fact, I think buyers would be lucky to see a dip into the 1290s from here.

        Jan 08, 2018 08:00 PM

        Btw & fwiw, I was a buyer today – miners not metal.

          Jan 08, 2018 08:23 PM

          Gary Savage thinks we may have a small pullback in gold, but that will be a time to buy.

            Jan 08, 2018 08:27 PM

            I agree about the pullback but the buying should be done on a case-by-case basis. Individual miners often move a little differently than the sector as a whole.

        Jan 08, 2018 08:48 PM

        I agree

        Jan 09, 2018 09:00 AM

        Doc’s technicals are worthless. Seriously. Just listen to his commentary on Friday 12/8/17.
        He was looking for lower prices right before the price went straight up for 15 of 17 trading days.

        From that interview.
        “But then watch out! I think we start moving down to that 1200 to 1220 area”

        He can resort to calling me a troll for calling him out on this, but that is okay. I have been trading the mtals markets for nearly 30 years and have yet to see anyone call the short term correctly.

    Jan 08, 2018 08:10 PM

    PPPMF strong today

      Jan 08, 2018 08:25 PM

      That’s because I sold a bunch for a tax loss@.07 Watch it go back to 1.00

    b
    Jan 08, 2018 08:29 PM

    weed at this point has gone up more than $5 today, I guess not many noticed but awhile back, dip buyers woulda picked it up for $7.50(todays price over $39)

    Now its going up almost that much in a day? lol

    Not a bad place to be while waiting for gold to actually do something.

    Whats gonna do better? pot or PMs?

      Jan 08, 2018 08:01 PM

      Pot would be my bet…

        Jan 08, 2018 08:29 PM

        I have decided to melt my silver down and make pot pipes……. I will even monogram them for the elites……………..lol

          b
          Jan 08, 2018 08:36 PM

          Ya, silver pipes with gold inlays would be worth a mint.
          Ya see the price of some of that silver jewelry? 20 a gram?

          My silver coins have outpaced my bullion….boooooo

    b
    Jan 08, 2018 08:43 PM

    If your interested

    ACB
    AURORA CANNABIS INC $14.00

    APH
    APHRIA INC $21.93

    EMC
    EMBLEM CORP $2.59

    WEED
    CANOPY GROWTH CORP $39.74

    ABCN
    ABCANN GLOBAL CORPORATION $2.13

    WMD
    WEEDMD INC $3.06

    novo no fun today.
    Interesting to see anx up a hair after Bobs article.
    novo seems to be struggling after Bob mentioned Kirkland?

      Jan 08, 2018 08:52 PM

      And my c.rks was up 45% today……

    b
    Jan 08, 2018 08:48 PM

    As gold prices rally into the New Year, one major theme that has already emerged is the 2018 Gold Sector Consolidation Thesis. In a recent report by Canada’s Scotia Bank (attached) entitled “A Legitimate Case is Building for More (Accretive) M&A”, several key themes were highlighted, namely:

    *Gold mining business remains highly fragmented, with low barriers to entry – in theory, this should make for an attractive landscape for corporate deals.

    *Today’s shifting geopolitical landscape provides sound reasons for larger companies to execute on (ideally accretive) M&A: Reserve Replacement & Diversification.

    Higher bullion values used to allow resources to increase via lower cut-off grades- today that luxury is mostly gone.

    *Need to mitigate single-asset and jurisdictional risk giving rise for corporate activity in the mid-tier producer segment.

    Given GoldMining’s vast portfolio of gold (in excess of 19 million gold ounces of 43-101 compliant resources), these themes bode extremely well for 2018!

    Best regards,

    Bruce
    Bruce Nicholson | VP of Corporate Development

    GOLDMINING INC