The Oil Market Is Telling Us A Lot
With oil on a serious slide over the past 5 weeks it’s important to also note that major oil countries can’t move the price with production cuts. Marc Chandler, editor of the Marc To Market website and Managing Partner at Bannockburn Global Forex provides his thoughts on the bigger picture of the oil market. Combined with recent data out of Europe and Japan the global growth narrative is failing.
Also please know that posting will be light today as I am attending the Columbian Gold Symposium.
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The prime mover in oil price was Trump saying the price was too high.
Federal Court Hearing TOMORROW to Compel Testimony from Hillary Clinton on Email Scandal
Makes you wonder………where is TRUMP on this one……..why not do some tweeting on this action…..just mention it a couple of times……jmo
Mention it in a press conference ……….jmo
Trump doesn’t hold news conferences.
He is in front of the press alot………maybe, he should mention it on the way to the plane…….
I see what you mean, on the press conferences……..only two….
I guess he likes tweeting……..
Very informative graphic on mid-terms:
https://www.henrymakow.com/upload_images/midterm-analysis.jpg_jpg
Yep………
Lemetropole Cafe – Smoke, mirrors, and empty storefronts – Yesterday:
“The OI for both gold and silver is once again ballooning, which means the shorts are piling on. That’s ALL you need to know about this crooked game.”
Another day, another massive piling on by the shorts. With yesterday’s gigantic 12,584 increase in the gold OI the cartel has added a massive 21,479 Comex contracts in just 2 trading days. In doing so the price of gold was smashed to the tune of $22.10. Silver was similar, adding 2,107 contracts on Monday making the 2 day total +7,993, to go along with its 43.3 cent plunge. These OI figures of course exclude the offshoring of ETF’s so well documented by Harvey Organ. Any talk about “gold weakness” or “gold repeatedly failing at resistance” is total BS. This is an engineered takedown, courtesy in all likelihood of the October BIS gold swaps noted by Robert Lambourne and Chris Powell.
It looks like $1200 and $14 are now the newly designated no-pass zones. Of course the usual technicals are in the dumpster, but as we know nothing matters when a good old fashioned bludgeoning is in order. Of course too these prices look incredibly cheap, but so did $1300 and $15. I’m still waiting on the first mea culpa from those letter writers who were SO exuberant about the bullish nature of more recent COT reports. Once more Houdini reigned supreme on the short side of life. At this point when it comes to the metals you have to assume ALL data is nothing more than smoke and mirrors for a storefront bereft of any real physical to offer.
James Mc
Interesting point and well said!
How Much Copper is in an Electric Vehicle?
Nicholas Lepan – November 13, 2018
http://www.visualcapitalist.com/how-much-copper-is-in-an-electric-vehicle/
REALIST NEWS – URGENT BREAKING – Radioactive Wind Threat in CA- Dick Allgire NAILED IT (ill Winds)
GOLD Manipulator, JP Morgan…Hired By French Central Bank!! (Bix Weir)
(ROXG) (ROGFF) Roxgold Reports 2018 Exploration Results at Yaramoko
@newswire on November 13, 2018
> 19.5 grams per tonne (“gpt”) gold over 10.1 metres (“m”) from 576.6m in diamond hole YRM-18-DD-475W intersected at the 55 zone
> 34.1 gpt gold over 2.1m from 664.2m in YRM-DD-485A at the 55 Zone
> 6.9 gpt gold over 16.5m including 1.1m at 33.9 g/t gold from 600.0m in YRM-18-DD-477W at the 55 Zone
> 9.2 gpt gold over 5.4m including 0.3m @ 80.3 g/t gold from 907.2m in YRM-18-DD-482 at the 55 Zone
> 16.1 gpt gold over 0.5m in diamond drill hole YRM-18-DD-BGS-435 at QV1
https://ceo.ca/@newswire/roxgold-reports-2018-exploration-results-at-yaramoko
(ROXG) (ROGFF) Roxgold Reports Strong Cash Flow Generation in Third Quarter 2018
by @newswire on November 13, 2018
> Achieved production of 30,532 ounces of gold in Q3 2018 (28,410 ounces in Q3 2017) and YTD 2018 production of 106,812 ounces (91,970 ounces in YTD 2017);
> Realized a record quarterly processing throughput of 78,357 tonnes – 15% above nameplate capacity;
> Reduced operating costs per tonne processed by 7% in Q3 2018 and a 6% reduction in operating cost1 per tonne processed for YTD 2018;
> Achieved a cash operating cost of $454 per ounce produced and all-in sustaining costs of $788 per ounce sold and $409 per ounce produced and $716 per ounce sold for the three and nine-month periods ended September 30, 2018, respectively;
https://ceo.ca/@newswire/roxgold-reports-strong-cash-flow-generation-in-third
Doray DRM.ASX & Silver Lake SLR.ASX announced proposed merger.
Both stocks sold off today rather significantly on the news.
Interesting. Thanks for that post Skeeta, as I hadn’t seen that news yet and follow both companies on watchlists.
This sector needs to see more consolidation, and more mergers.
Speaking of mergers…….. Here is another Mega-Merger (similar to what we saw with Barrick and Randgold)
Wowza!
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(PAAS) Pan American Silver and (TAHO) Tahoe Resources Create the World’s Premier Silver Mining Company
by @newswire on November 14, 2018
https://ceo.ca/@newswire/pan-american-silver-and-tahoe-resources-create-the
(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
Creating An Emerging Gold Producer In Atlantic Canada – Anaconda Mining Inc
Cambridge House International – Nov 13, 2018
“Watch as Dustin Angelo, President and CEO of Anaconda Mining Inc. (TSX: ANX), outlines their Goldboro Gold Project in Nova Scotia and Point Rousse Project in Newfoundland.”
Interesting Ira Flash today:
https://youtu.be/jZqSLMAipm8?t=35