Chris Temple from The National Investor – Thu 6 Jun, 2019

Recapping the rally in US equities, recent USD weakness, and gold strength continuing

Chris Temple joins me to wrap up the market moves and recent trends. He outlines why the US markets are heading higher but will still have trouble reaching all time highs. What he think of the down moves we have seen in the USD and the overall strength in gold even on days like today.

Click here to visit Chris’s site for more market and economic commentary.

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Comments:
  1. On June 6, 2019 at 3:37 pm,
    one of the peters says:

    We remember how the Fed kept pretending they were going to raise rates and then they never did, but created the impression that things are so good that they were inevitable.
    We might be seeing the reverse here. Keep the markets elevated in expectation of impending rate cuts and just keep stringing everyone along and not deliver, but keep dangling the prospect.

    “More crap than a Christmas goose?” Some of these must be preserved for posterity.

  2. On June 6, 2019 at 4:55 pm,
    Excelsior says:

    (SOLG.L) (SOLG) Solgold stock sinks again on mooted Ecuador mining referendum

    Amanda Stutt | about 6 hours ago

    “Solgold’s (LON, TSX: SOLG) stock took another hit on Thursday, the day after submissions for a public hearing were heard in Ecuadorean Constitutional Court regarding the proposed referendum on mining in the provinces where the Australian miner’s 85% owned Cascabel project and other wholly owned exploration projects are located. ”

    “Solgold holds 72 mineral concessions in Ecuador through four subsidiaries.”

    “Representatives from several Ecuadorean government bodies, regional community representatives, pro-mining groups, international mining groups workers and community members from Cascabel attended the hearing to demonstrate their opposition to the proposal, Solgold said in a media release. ”

    http://www.mining.com/solgolds-stock-sinks-ecuador-court-hears-submissions-mining-referendum-cascabel/

    • On June 6, 2019 at 4:58 pm,
      Excelsior says:

      Obviously this also affects (CGP) Cornerstone Capital Resources as well since they have a JV on this project in Ecuador.

      _____________________________

      Cornerstone Reports on Hearing of Anti-Mining Referendum Oral Arguments at Constitutional Court

      GlobeNewswire•June 6, 2019

      “Cornerstone Capital Resources Inc. (CGP) (CTNXF) reports that, further to its news release dated May 30, 2019 regarding a potential referendum on mining in four parishes in which its Cascabel project and its strategic exploration alliance with State Mining Company ENAMI EP are located, the hearing of oral arguments took place yesterday at the Constitutional Court in Quito.”

      https://finance.yahoo.com/news/cornerstone-reports-hearing-anti-mining-151405506.html

      • On June 6, 2019 at 5:13 pm,
        Excelsior says:

        Copper price falls on worst global factory data since 2012

        Frik Els | (06/05/2019)

        “Frank Holmes, CEO of US Global Investors, a Texas-based investment company with a long track record in the gold and resource sector, points out in a blog post that the global gauge of manufacturing activity gave the worst reading in seven years in May.”

        “The global Purchasing Managers Index (PMI) slid to 49.8 last month, signalling contraction in factory activity globally for the first time since 2012.”

        http://www.mining.com/copper-price-falls-worst-global-factory-data-since-2012/

  3. On June 6, 2019 at 5:14 pm,
    Excelsior says:

    $LYC.AX $LYSCF Lynas touts its independence from China in push for Rare Earths growth
    Reuters | about 7 hours ago

    “China last month warned it may curb exports to the United States of rare earths, a group of 17 minerals used in a plethora of military equipment and high-tech consumer electronics.”

    http://www.mining.com/web/lynas-touts-independence-china-push-rare-earths-growth/

    • On June 6, 2019 at 5:17 pm,
      Excelsior says:

      Rare Earths – Sunset for China’s REE Dominance

      Hallgarten & Company Metals Review – Christopher Ecclestone

      (Opportunity)

      + The ranks of producers/developers have been brutally thinned out leaving only a few serious players in the space
      + The latest price upturn may give impetus to restarting work on various stalled projects
      + We expect China to mine less than 50% of the world’s Rare Earths by the mid-2020s
      + Few developers have mines ready to build (in contrast to Tungsten) thus there is no threat of oversupply
      + Some managements have realized that the current market is favoring smaller, phased projects

      (Challenges)

      Trade war is not guaranteed to be a longer term phenomenon thus prices (and investor interest) may fade
      Surviving companies from the last Rare Earth boom are not necessarily the best assets from that upsurge
      Some of the surviving companies have done little to no work on their assets since 2011 and many of the resources and production plans are now outdated (or classifiable only as historic)
      China still has a dominating position that it can play a role as a spoiler via pricing
      Raising money for Rare Earth projects is still no easy task with tight financing conditions and little investor understanding of the metals’ price dynamics

      http://hallgartenco.com/file.php?path=RareEarths&filename=REE_Outlook_June2019.pdf

      • On June 6, 2019 at 5:30 pm,
        Excelsior says:

        Should investors get excited about Rare Earth metals?

        Frank Holmes – U.S. Global Investors | 4 days ago

        “The 17 so-called “rare earth metals,” may not have household names like gold or copper, but they play strong supporting roles in many of the consumer electronics we enjoy on a daily basis, from our TVs to smartphones.”

        “They also have important high-tech military, energy, health care and transportation applications. ”

        “All of this could be something of a concern in the near term. China, which accounts for close to 80 percent of the world’s annual production of rare earth metals, is allegedly preparing to curb the export of these important materials to the U.S. as a bargaining chip in the ongoing trade war between the two superpowers, and as retaliation for the recent U.S. ban on imports from Chinese telecommunications firm Huawei. ”

        http://www.mining.com/web/investors-get-excited-rare-earth-metals/