Gold Just Above $1,300 and What’s Really Going On In The Goverment
John Rubino has some thoughts on how gold could benefit from all the worrisome market signs and politics around the world. He also comments on the government shut-down that is now over, at least temporarily.
If I knew there was going to be a test today I would have studied.
https://youtu.be/aDR8oyoJSnk?t=32
Ira’s Metals
The Great Recovery Rewind: How the Federal Reserve’s Balance-Sheet Unwind is Unwinding Recovery
January 25, 2019 – David Haggith
“We are in the end time of an unprecedented era of financial expansion — the greatest expansion of the world’s money supply ever attempted, expansion of the Federal Reserve’s vast and unchecked powers far beyond what the Fed could do before the financial crisis, and super-sizing expansion of banks that were already way too big to fail.”
“I am calling this time in which we are now unwinding this monetary expansion the Great Recovery Rewind because I believe this attempt by the Federal Reserve and other central banks of the world to move us away from crisis banking is taking us right back into economic crisis. That is why this was the top peril listed in my Premier Post, “2019 Economic Headwinds Look Like Storm of the Century.” It is more potent in possible perils than all the trade tariffs in the world.”
Why Everyone’s Talking About Gold & Silver
January 25, 2019 – Chris Vermeulen
“We believe Gold prices will continue to congest closer to the $1300~1320 level as we get closer to the breakout dates. Therefore, we suggest traders pay attention to price rotation as it plays out in the future for real setups and opportunities in the precious metals. The large GREEN arrow showing a potential breakout towards the $1700 level is our estimate of this potential upside move. Our predictive modeling systems are suggesting a minimum of $1550 will be reached by September 2019. ”
https://www.thetechnicaltraders.com/why-everyones-talking-about-gold-silver/
(KNT) (KNTNF) K92 Mining Announces Record Production From Kainantu Mine
by @nasdaq on January 22, 2019
– Q4 production of 16,451 ozs of gold, 170,800 lbs copper and 3,095 ozs silver for a total of 16,844 AuEq ozs in Q4 2018
– Annual production of 45,801 ozs of gold, 611,000 lbs copper and 10,069 ozs silver for a total of 47,237 AuEq ozs exceeds guidance for 2018 of 44,000 to 46,000 ozs AuEq
– The process plant treats a record tonnage of 24,806 tonnes Q4 at average grade of 21.8 g/t Au and 0.33% Cu, achieving recoveries of 94.8% for gold and 93.6% for copper
https://ceo.ca/@nasdaq/k92-mining-announces-record-production-from-kainantu
(KNT) (KNTNF) Mining Inc. Named to 2019 OTCQX Best 50
by @nasdaq on January 24, 2019
K92 Chief Executive Officer, John Lewins, states, “During 2018, K92 established and declared commercial production, achieved cash flow positive operations, exceeded the top end of our annual production guidance. We have continued to develop Kora North from both a production perspective through continuing underground development to access greater strike length and in increasing the known resource through exploration and grade control drilling. The year ended strongly, with record setting production in Q4 2018 and the engagement of a second drilling contractor to bring in two addition larger underground diamond drill rigs which will enable the Company to significantly increase the metres drilled in 2019. K92, has also announced the positive results of an updated Preliminary Economic Assessment (“PEA”) for the project and will soon be publishing 2019 production guidance along with making a formal decision to expand mining and processing operations as described in the PEA.”
https://ceo.ca/@nasdaq/k92-mining-inc-named-to-2019-otcqx-best-50
Silver closed above speedline resistance today:
http://schrts.co/iybpVmgX
Gold closed against fork a resistance that will probably be overcome tomorrow:
http://schrts.co/pzvHDeCV
(SGN) (SRCRF) Scorpio Gold Announces US$6 Million Convertible Debenture Private Placement Financing
by @nasdaq on January 28, 2019
“The Company intends to use US$3,000,000 of the proceeds of the Private Placement to fund:”
(i) the settlement of the loan advanced from Waterton Precious Metals Fund II Cayman, LP to Scorpio Gold, pursuant to the terms of a senior secured credit agreement among the Company, its subsidiaries and the Lender, which was originally announced in the Company’s press release dated August 17, 2015,
(ii) the termination of a gold and silver supply agreement dated May 18, 2011 among the Company, Scorpio Gold (US) Corporation, Mineral Ridge Gold, LLC and an affiliate of the Lender; and
(iii) the purchase of the 30% membership interest of Elevon LLC in Mineral Ridge Gold (which holds the Mineral Ridge Project) and the termination of an operating agreement dated March 10, 2010 between Scorpio Gold US and Elevon, (collectively, the “Buyout”).”
https://ceo.ca/@nasdaq/scorpio-gold-announces-us6-million-convertible-debenture
It jumped 133% on 13.2 million shares and then reversed at fork resistance:
http://schrts.co/ZnjJupkq
Yes, they’ve been on pause for some time, with the marketplace waiting to see if they’d get this capital raise done to move forward with everything. It was nice to see SGN get it done, pay off past loan obligations, and buy out that remaining 30% stake in Mineral Ridge from Elevon, but it does come along with a reverse stock split as well.
It will be interesting to see how things progress now that the 800 lb gorilla has been appeased…. and things are back in motion again.
The rollback is a teeny tiny price to pay under the circumstances and the timing of this deal couldn’t be better. SGN is a worthy spec once again.
SLV at fork resistance:
http://schrts.co/nEGSSmyR
It took six weeks to do it but GDX is through Fibonacci fan and speedline resistance:
http://schrts.co/VicCuVyW
TLT has been a weekly chart SELL versus gold since September and it still is:
http://schrts.co/hesCzcqR
For anyone following abitibi royalties or even the Malartic for that matter,Ian Ball is on bnn today at 11:35
Thanks Wolfster. I’ve been tied up but will go look for the replay.
IPT is breaking out and is a daily and weekly chart buy — like many miners…
http://schrts.co/AauGIHEB
GDXJ is a clear buy versus gold:
http://schrts.co/mPeukBSf
Of course it is also shaping-up well versus the dollar:
http://schrts.co/fsdWjavK
GOEX is a clear buy:
http://schrts.co/PHKpazdP
GDX:GLD breakout. The sector is acting exactly the the bulls should have hoped since Friday:
http://schrts.co/KADYheCD
Question……why the 50 and 55 day….? just interested…..
The 50 is the most widely used but I often prefer the Fibonacci-based 55. So I often use both even if I don’t leave them on the charts that I post. It’s the same with the 200 and 233.
In 2016, notice that the 233 week MA was the better one by far. Gold overcame the 200 week MA for 15 straight weekly closes while it only closed above the 233 week MA three times and, much more importantly, never even twice in a row. So the widely used 200 gave a false sense of security to a lot of people while the Fibonacci 233 kept its followers much more prepared for a significant correction…
http://schrts.co/dTepsNSC
So,….now the 200md….just over the 233md…..
So, would that be a sign of hold your horses……..
Thanks………..appreciate the comments…….
moved over the 233rd….should have said.
Sorry,…..I just read your next post……..
GDX:GLD is now above both the 200 and 233 week MAs and the 200 is now bullishly above the 233…
http://schrts.co/MAwsJaZn
So, are you waiting on the 233 to tell you something here……that there might be to much bullishness……on the 200, or waiting for confirmation….thanks…..
What we want to see is price staying above the MA; the MAs in bullish order (shorter term MAs above longer term ones); and MAs rising, not falling. I use MAs in conjunction with many other studies/tools.
Thanks for the your time and info……appreciate very much…….thanks again….J
You’re welcome, Jerry, anytime.
test