Key Levels To Watch For Gold and The USD
Doc joins me today to share his thoughts on the gold sector and the US dollar. With the dollar breaking out and looking to continue this move it will weigh on the metals. There are also some key levels to watch for gold and GDX as we move to the end of the year.
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BB; based on technicals there is more pain ahead for BTI—the odds are very good that it hits low 30s if not 30. Alert me again when it does and I’ll tell you what I think then.
Doc,
The next major fed meeting is December 18-19. If the dollar does continue to go up before the meeting, do you think the fed will be forced to react here (leave interest rate unchanged)? The rest of the world has to be hurting more and more as the dollar moves up.
Snowy, I bet the Fed will be forced to raise rates in December. They rarely change direction suddenly without preparing verbally for that to happen. However, in December it is very possible that they may start to give some dialogue for the possibility of pause. You’re absolutely correct about the dollar level and the rest of the world. Also, the housing market is starting to crack and the car market isn’t exactly on fire. Things will start to get very interesting in 2019.
Forced………they will enjoy raising rates………more usury for the sheeple………
Since when has the Fed cared about the rest of the world?
All they care about are the Dow and S&P500. A rising dollar just makes US assets all the more attractive.
They will keep raising interest rates, and stocks will keep rising, although they will probably be trading sideways for the next 3 months (before taking off again). I wouldn’t expect a trend change until 2021. Same goes for commodities–they won’t be a buy for at least 2-3 years.
Good points from you and Doc. Thank you
The only things safe in this market are the safe stocks like SJM
Nothing is safe Tom.
Anything to do with markets is gambling, exclude everything else and your still gambling your broker doesnt rob you and your bank doesnt close.
Heck, what happens to the value of the dollars your paid in when half the worlds population wont accept them?
India,China,Russia,Iran and a whole bunch more are in the process of dropping the dollar now.
Check out all those African nations being helped and invested in by China, they will use yuan not dollars.
Same thing is happening in s america.
The dollars day of having value are numbered.
I do expect a big rise in the dollar, but after that it should tank. imo
Tracy Beanz:
https://www.youtube.com/watch?v=gMbWAHxW250
Do you care if the election is openly stolen?
So much for all the enthusiasm there was around here.
Key levels Im waiting for are 968, 700 and 400.
I’m sure all of the pumpers got out last week.
Off Topic:
I am beginning to believe the California fires are not by accident.
The question is really was this a measure to transfer cost onto the Federal government or something even more devious.
Well well well………..silver under $14………$13.98………
I havnt been to the metal shop for months now, but Im wondering at what price they stop selling, if they do stop selling.
I would think if the mints stop selling people might catch on, maybe, I dont mean to
suggest the mob starts thinking or anything.
Doc, with gold momentarily giving up the 1200 handle and silver getting within cents of its August lows, how much significance are these fresh downward moves in your eyes?
(SGI) (SUPGF) Superior Gold Inc. Announces Third Quarter 2018 Financial and Operating Results
@newswire on November 13, 2018
> Third Quarter Highlights:
– Second consecutive record quarterly sales of 25,842 ounces of gold, an increase of over 24% for the same period in 2017
– Strong quarterly production of 24,719 ounces of gold with an annualized production rate of 100,000 ounces for two consecutive quarters
– Total cash cost1 of $1,042 per ounce sold, all-in sustaining costs1 of $1,119 per ounce sold and average realized gold price1 of $1,211 per ounce sold
– Cash flow from operating activities of $3.6 million
– Strong cash position, including restricted cash, of $22.1 million and no debt at quarter end
– Year-to-date gold recoveries averaging 88%, compared to 78% for the same period in 2017
– 2018 production guidance revised to 92,500 to 97,500 ounces as the Company has been unable to offset the operational performance of the first quarter of 2018
Site management changes implemented during the quarter have positioned the Company for improved operating performance and the mining of higher grade stope material in the fourth quarter of 2018 and beyond
https://ceo.ca/@newswire/superior-gold-inc-announces-third-quarter-2018-financial
(SOI) Sirios intersects 10.5 g/t Au over 10.6 m and 15.7 g/t Au over 8.7 m in Cheechoo
by @nasdaq on November 13, 2018
https://ceo.ca/@nasdaq/sirios-intersects-105-gt-au-over-106-m-and-157
(ANX) (ANXGF) Anaconda Mining Intersects 8.79 g/t Over 8.0 Metres; Continues to Expand Goldboro Gold Deposit
by @newswire on November 13, 2018
https://ceo.ca/@newswire/anaconda-mining-intersects-879-gt-over-80-metres
(NVO) (NSRPF) Novo shareholders, do not vote your shares yet
Bob Moriarty – Nov 13, 2018
“A Toronto group is trying to take over the board with the intention of stripping off the assets into two other companies leaving Novo owners holding an empty shell. If you vote before you know all the facts you are cutting your own throat.”
“I know a lot of shareholders all the way to the top are angry at the decline in price from $8.80 to $1.97 and they would like to start seeing scalps hanging from their mantelpiece but Novo has made far more progress in a year than any company I have ever seen. You want to know about it and then make an intelligent vote.”
“Do not even think about letting the Toronto Mafia take over control of Novo just to carve it into small pieces.”
http://www.321gold.com/editorials/moriarty/moriarty111318.html
I voting with Quinton.
Excelsior, I too saw those results (from SOI), what’s your take on the company, as for me I see them as an Exploration in a great location/neighborhood & with major/-s invested … and that’s it when it comes to good news, bad news: expensive management, inconsistent drill results (nothing impressive if one looks into details of each press release), dilution is there too, but not unusual I guess, any reason to buy and hold ?
(KNT) (KNTNF) K92 Announces Increased Resource for Kora North
by @nasdaq on November 13, 2018
https://ceo.ca/@nasdaq/k92-announces-increased-resource-for-kora-north
(SVM) Silvercorp is still making money at current prices and is the lowest cost Silver equivalent ounce producer due to their large Zinc & Lead co-credits.
http://silvercorpmetals.com/_resources/presentations/corporate-presentation.pdf
(SVM) Silvercorp Reports Q2 Net Income of $8.0 Million, $0.05 Per Share, and Cash Flow from Operations of $21.0 Million
November 7, 2018
> Q2 FISCAL YEAR 2019 HIGHLIGHTS
– Sales of $48.1 million, up 1% compared to $47.5 million in the prior year quarter;
Sold approximately 1.9 million ounces of silver, 1,000 ounces of gold, and 19.4 million pounds of lead, up by 17%, 25%, and 15%, respectively, compared to 1.6 million ounces of silver, 800 ounces of gold, 16.9 million pounds of lead in the prior year quarter while zinc sold was 4.9 million pounds, down 12% compared to 5.6 million pounds in the prior year quarter. The ending inventories of silver-lead concentrate were 3,732 tonnes (containing approximately 0.4 million ounces of silver and 4.3 million pounds of lead), a decrease of 34%, compared to 5,650 tonnes of silver-lead concentrate inventories as at June 30, 2018;
-Gross profit margin of 47% compared to 54% in the prior year quarter, with the decrease mainly due to lower metal prices;
– Net income attributable to equity shareholders of $8.0 million, or $0.05 per share, compared to net income attributable to equity shareholders of $11.1 million, or $0.07 per share in the prior year quarter;
– Cash flow from operations of $21.0 million, up 1% compared to $20.7 million in the prior year quarter;
– Cash cost per ounce of silver, net of by-product credits, of negative $3.37, compared to negative $5.16 in the prior year quarter; All-in sustaining cost per ounce of silver1, net of by-product credits, of $2.54, compared to $2.26 in the prior year quarter;
– Paid $1.1 million withholding tax at 10% rate for dividend distributed out of China to the Company, compared to $nil in the prior year quarter; and,
– Ended the quarter with $123.9 million in cash and cash equivalents and short-term investments, an increase of $9.1 million or 8% compared to $114.8 million as at June 30, 2018.
http://silvercorpmetals.com/news_and_media/news/index.php?content_id=744
Can Doc provide his opinion as to whether he think precious metals (Gold/Silver) will have it’s first of the year temporary spike?
Hi Doc, have you seen BTI today? It tumbled to 38 but is back to 38.59 on rumors the FDA is thinking of banning menthol in cigarettes.This may never happen.
How much lower do you think it can go? Thanks.
The Hoosiers are planning to surprise Michigan next Sat. My Rice Owls are overwheming underdogs when they play LSU in Tiger stadium. Take the Tigers and give 44 points.