Minimize

Welcome!

News events in the coming 2 week that will drive markets

Cory
January 26, 2017

Craig Hemke, founder of TFMetalsReport.com joins me today to look ahead to news stories that could have an impact on markets including gold over the next couple weeks. We have Q4 GDP tomorrow and a Fed meeting and statement (no press conference though) next week that are just a couple.

Click here to visit Craig’s site.

Click download link to listen on this device: Download Show

Discussion
88 Comments
    Jan 26, 2017 26:41 PM

    75-Year-Old Woman Survives Wild Tornado Bathtub Ride
    01/25/2017 – David Moye

    “I can’t tell you how high we were. It just felt like someone placed us on the ground.”

    http://www.huffingtonpost.com/entry/tornado-bathtub-ride_us_5888ecc7e4b061cf898c344d?section=us_weird-news

      Jan 26, 2017 26:46 PM

      I’m not sure that news event will drive the markets, but it seemed worth posting.

        Jan 26, 2017 26:56 PM

        This may be more relevant to the Energy Sector:

        TransCanada Applies for Keystone XL Presidential Permit
        (Marketwired – Jan. 26, 2017) – News Release –

        ” TransCanada Corporation (TSX:TRP) (NYSE:TRP) announced today it has submitted a Presidential Permit application to the U.S. Department of State for approval of the Keystone XL (KXL) Pipeline.”

        “This privately funded infrastructure project will help meet America’s growing energy needs as well as create tens of thousands of well-paying jobs and generate substantial economic benefit throughout the U.S. and Canada,” said Russ Girling, TransCanada’s president and chief executive officer.”

        http://www.marketwired.com/press-release/transcanada-applies-for-keystone-xl-presidential-permit-tsx-trp-2191508.htm

          CFS
          Jan 26, 2017 26:11 PM

          You think any company with Canada or Mexico in its name has any chance?

            Jan 27, 2017 27:15 AM

            Sure. The ones with good operations, good margins & revenues, and a good team.

    CFS
    Jan 26, 2017 26:06 PM
    Jan 26, 2017 26:13 PM

    http://www.tfmetalsreport.com/comment/170246#comment-170246

    “There is ZERO CHANCE that gold is headed to $1200. ZERO.
    Physical demand will not allow it. Additionally, at some point, mines will close due to the lack of profit on extracting difficult veins. This means even less supply. This is all well and good but it’s just noise.

    Nope. I will eat my hat at 1200. It would be the opportunity of a lifetime. Post-whateverthisis, as fiat finally collapses, the world (including the U.S.) will be forced back onto a gold standard. A gold price that is anything other than multiples higher from here would be tremendously deflationary and counter-productive. Simply divide your favorite measure of dollar money supply by the (alleged) number of ounces held by the U.S., add a few extra thousand dollars on for good measure to allow for overshoot, and you get an ultimate dollar value. Again, multiples higher than today.

    Knowing this, why do I even care about $1550 vs $1500 vs $1450 vs $1600. It simply doesn’t matter toward the end game. And trust me, The End Game is coming a lot sooner than you think.”

    Jan 26, 2017 26:29 PM

    News event don’t drive the price of anything. If news were a primary driving force for any prices, supply and demand would mean nothing, TA would mean nothing, cycles would mean nothing and sentiment would mean nothing.

    But there are a lot of people in the industry who gain subscribers by telling you what you want to hear.

    Have you ever heard Mathew talking about news? or Excelsior? or me? Yet on a regular basis we can and do forecast price movements with great accuracy. In advance. Forget news, it’s meaningless 99% of the time. And those who harp on what news means are meaningless and they know it. And now you do.

      Jan 26, 2017 26:57 PM

      Yes, Bob,
      EX and I were discussing the Mexican Hat Mine…..and the 20% tax…… 🙂

        Jan 26, 2017 26:01 PM

        I did instruct him, not to cover political events, and we were only paying him to cover mining info…….. 🙂

      Jan 26, 2017 26:11 PM

      Robert Moriarty, news means something maybe not to you but it does to me in the world of investing. Look at the last election, who other than a few people and I am one, that the voters would choose as the Republican standard bearer somebody who would present, both to themselves and to the country, a complete contrast with the other candidates whom they detested. When the news came out I changed my investment strategy and that has been profitable for me so news matters and it may not matter to you but it does for my portfolio. DT

        Jan 26, 2017 26:16 PM

        Bob M, has forgotten his book, “Nobody Knows Anything”, in other words think for yourself. DT

          b
          Jan 26, 2017 26:56 PM

          Gold price: Physical demand from India, China craters

          Study shows global surplus of gold jumped to highest since 2005 at the end of last year while worldwide jewellery fabrication is back at 1988 levels.

          That the yellow metal advanced at all in 2016 is even more surprising considering a new report by industry trackers GFMS Thomson Reuters showing physical gold demand declined to a seven-year low last year. During the fourth quarter the global surplus of just less than 300 tonnes of metal was the greatest oversupply since late 2005.

          That this large a surplus was recorded despite net purchases of physically-backed gold exchange traded funds reaching near record highs over the course of the year is another indication of just how significant the slump in physical demand turned out to be.

          A collapse in demand from India, the backbone of the global physical trade for decades, was behind the weakness, but Chinese appetite for gold also waned significantly in 2016. According to the authors of the report the reasons behind the decline are “in a nutshell, India, China and the US dollar”

          From mining news

            Jan 27, 2017 27:27 AM

            I would not count on this as being accurate news any longer……..everything is up to questioning………..

            Jan 27, 2017 27:28 AM

            there is a lot of bs around this business……….

            Jan 27, 2017 27:57 AM

            Switzerland gold export to China surges 41% ….158 tons………zerohedge…just example

            Jan 27, 2017 27:00 AM

            Tell me if Reuters has a handle on the black market…………

      Jan 26, 2017 26:40 PM

      News is always assigned credit or blame for market moves, but, like Robert said, it’s meaningless 99% of the time. Charles Nenner agrees, too.

      In those rare cases that it does matter, the impact is typically brief. This is probably due to the fact that most news stories are not news at all to the big money.

        Jan 26, 2017 26:03 PM

        Matthew, you are one of the few here who are playing with big money. DT

          Jan 27, 2017 27:58 AM

          DT, I’m poor compared to the kind of money I was talking about. 🙁

        Jan 27, 2017 27:25 AM

        I’d say unanticipated news can affect the markets for a day or short time period (like the Swiss unpegging, or Brexit, or Fedbabble…..) but it is inconsequential to the larger picture.

        In mining companies, if news breaks of a financing, or amazing drill results, or a strategic investment or a merger…. then it absolutely can move that miner in a way that the technical indicators may not have anticipated. These moves may be more accelerated or muted by the technical backdrop though when the news breaks.

        The reason I follow the mining news so closely as I’ve traded companies over and over again based on freshly released breaking news, or getting into a stock right before a news release is anticipated (like before a quarterly earnings release, or a drill programs assays are released, etc….).

        The news has more of an affect on the much smaller Jr companies though than on the larger juggernauts.

          Jan 27, 2017 27:05 AM

          I have a feeling that Robert was referring to news that supposedly affects whole sectors in a meaningful way. Just as sheeple overestimate the power of each new president that comes along, they overestimate to an even greater degree the impact that news can have on a trend in the markets.

            Jan 27, 2017 27:04 PM

            Good point. Yes, in that case, the news is mostly irrelevant on entire sectors, although big issues with repeated coverage may nudge things in a certain direction over time.

    CFS
    Jan 26, 2017 26:48 PM

    Mr. Moriarty, I usually agree with you. Not this time.
    Perhaps it depends on what “news” is. (Sorry to sound like William Jefferson C.)
    I thought Trump’s speech today was news. As such, it is clear he does not intend to hold back much on spending.
    He plans all kind of new proposals.
    All require more and more spending.
    That news to me, when I join all the dots, implies inflationary increases.
    That seems good to gold to me. But then I probably know nothing.

      Jan 26, 2017 26:10 PM

      I think the news that RFK, Jr has Trump’s ear on vaccines could be disastrous for MRK, and rightly so.

    CFS
    Jan 26, 2017 26:08 PM

    OLD FART PRIDE
    Old Farts are easy to spot at sporting events; during the playing of the National Anthem. Old Farts remove their caps and stand at attention and sing without embarrassment. They know the words and believe in them.
    Old Farts remember World War II, Pearl Harbor , Guadalcanal , Normandy and Hitler. They remember the Atomic Age, the Korean War, The Cold War, the Jet Age and the Moon Landing.
    They remember the 50 plus Peacekeeping Missions from 1945 to 2011, not to mention Vietnam and Afghanistan .
    If you bump into an Old Fart on the sidewalk he will apologize.
    If you pass an Old Fart on the street, he will nod or tip his cap to a lady.
    Old Farts trust strangers and are courtly to women.
    Old Farts hold the door for the next person and always, whenwalking, make certain the lady is on the inside for protection.
    Old Farts get embarrassed if someone curses in front of women and children and they don’t like any filth or dirty language on TV or in movies.
    Old Farts have moral courage and personal integrity. They seldom brag unless it’s about their children or grandchildren.
    It’s the Old Farts who know our great country is protected, not by politicians, but by the young men and women in the military serving their country.
    This country needs Old Farts with their work ethic, sense of responsibility, pride in their country and decent values.
    We need them now more than ever.
    Thank God for Old Farts!
    I was taught to respect my elders..It’s just getting harder to find them.

    (Written by some Old Fart, whose name I forget.

    b
    Jan 26, 2017 26:11 PM

    The Trump optimism might be awhile yet, people may not lose patience for a few months.
    He oked pipelines, thats going to crate some work.

    A few years ago there was alot of talk saying gold goes thru the roof when the american people start buying it, the last bull didnt include china etc

    But americans dont want gold, or silver.

    Rings maybe,forks, but a cup of coffee cant be bought with either and people choose a candy bar over silver bars when givin a choice.

    We may have a ways to go before we get any “moon” action.

    Doc could be exactly right.

    CFS
    Jan 26, 2017 26:17 PM

    I don’t like Trump’s policies, inasmuchas he has just been praised by Bernie Sanders and a spokesman from the AFL/CIO.
    Trump is pandering to crony capital protectionism.
    That is inflationary.

    CFS
    Jan 26, 2017 26:43 PM

    Trump is a closet Democrat!

    b
    Jan 26, 2017 26:59 PM

    Whatever Trump is, he’s not Clinton.
    Unless we got fooled again.
    Remains to be seen I suppose.

    Jan 26, 2017 26:08 PM

    GOOD SIgn of things to come………………..
    Trump hangs picture of ANDREW JAckson in the OVAL office…………….

      Jan 26, 2017 26:15 PM

      Chartster should like this one…….this is a double post, but so what……..

        Jan 26, 2017 26:18 PM

        I bet the MSN, does not cover this one………

        Jan 26, 2017 26:23 PM

        And to ” the Repubilic “.😉

          Jan 26, 2017 26:32 PM

          The republic is happening ” Bigly”!

    CFS
    Jan 26, 2017 26:40 PM
      Jan 27, 2017 27:25 AM

      This could have a huge economic affect on the world. Food and energy production could be greatly hampered unless us Canadians can figure out how to get energy and food from snow. (;-)

      I remember the 60s and 70s seemed colder with longer winters.

    CFS
    Jan 26, 2017 26:26 PM

    The Chinese Dong Feng 91 missiles that were moved North East to the Russian border are now within targeting reach of all of the continental U.S.
    These missiles are mirved with 10 nuclear warheads on each.

      Jan 27, 2017 27:16 AM

      CFS: The Chinese/Russians need one nuclear weapon to kill 90% of Americans and it will go off over Kansas at 300 miles and WW III will be over. And as much as I disliked Obama, he didn’t hand a penny to Hamas. But if they had them and could use them in their own self defense, it would be wonderful.

      I just hope they will work from a fishing boat.

      http://mondoweiss.net/2017/01/fishermen-israeli-injures/

        b
        Jan 27, 2017 27:18 AM

        Just another part of the genocide Bob.
        The question as I see it, is how to get christians to stop worshipping the jews?

        Heck, lets send them more military hardware and money.
        The sacrifice of our children to them might as well be at an alter.

        How to get people to see it is the question.

          Jan 27, 2017 27:40 AM

          b……you can not be a christian and forget the jews……..just will not happen, it is in the scriptures……

            Jan 27, 2017 27:42 AM

            and you are running around in circles if you think it will……

          Jan 29, 2017 29:11 PM

          hood winked by zionist jews……….and the money changers……….

    CFS
    Jan 26, 2017 26:31 PM

    Hamas is reported to have bought 1500 laser-guided anti-tank missiles from North Korea, thanks to money given them by the bastard president.
    (As long as they are used only in defense, so be it)

    CFS
    Jan 26, 2017 26:43 PM

    [1/26/17] Amazon doesn’t want to have to rely on (and pay) third-party delivery companies. It’s already taken control of lorries and planes and now it’s taking control of ships, The Wall Street Journal reports.

    Specifically, the Seattle-headquartered ecommerce giant has started handling the shipment of goods from Chinese retailers that sell on its platform to its vast US warehouses. Previously it left this to global freight-transportation companies.

    Since October, Amazon has helped to ship some 150 containers of goods from China to the US, according to The Wall Street Journal, which cites shipping documents collected at ports of entry.

    Shipping is a trillion dollar industry, according to MIT Technology Review. While Amazon doesn’t actually own any ships itself, it has started reserving space on ocean vessels and acting as a global freight operator and logistics organiser. Other freight operators include FedEx and UPS.

    Zvi Schreiber, CEO and founder of logistics platform Freightos, said in a statement: “Logistics companies have been eyeing Amazon suspiciously for years. Yesterday, their fears were confirmed, with the revelation that Amazon has been quietly arranging China to US ocean shipments.

    Jan 26, 2017 26:09 PM

    The state department for many years has been corrupt. And then we see this. The swamp is actually starting spring a leak!

    http://www.zerohedge.com/news/2017-01-26/entire-senior-management-team-state-department-just-resigned

      CFS
      Jan 27, 2017 27:45 AM

      Zerohedge was wrong.
      The State Department officials were fired.

    CFS
    Jan 26, 2017 26:38 PM

    Great News:
    Half a billion dollars to be cut from PBS/NPR budget funding.

    CFS
    Jan 26, 2017 26:41 PM

    bout time National Propaganda Radio was totally defunded.

    CFS
    Jan 26, 2017 26:46 PM

    Perhaps Mrs May will get the hint and cut the wasteful funding of leftist arty farty projects like Maplethorp and his “pissChrist”.

      Tad
      Jan 27, 2017 27:54 AM

      ????
      Are you referring to the American artist/photographer Andres Serrano’s “PissChrist” ?
      That was done in the 1980s.
      Not sure what May has to do with that?!
      Or Robert Mapplethorpe, another US photographer who must have been dead for nearly 30 years.

    Jan 27, 2017 27:27 AM
      Jan 27, 2017 27:44 AM

      Thanks Pete. That’s generally a positive sign. A lot of buzz about Sabina getting their permit this time around.

      ceo has a room set up to just track insider buys/sells. They can be a leading indicator.

      https://www.ceo.ca/insiders

        Jan 27, 2017 27:07 AM

        Thanks,Excelsior.

        CFS
        Jan 27, 2017 27:22 AM

        The management of Sabina, in my opinion, is entirely in it for themselves.

        One insider bought 10,000 shares, after the company gave out about a million options and knocked the price down.

          Jan 27, 2017 27:31 AM

          Thanks,CFS.

      Jan 27, 2017 27:39 AM

      Pete do you like or hold any Perseus? I haven’t kept up with it for a year or so.

      I used to hold Perseus but abandoned ship when it just seemed to have too many headwinds (and too many shares) and it wasn’t really responding like other mining companies. The company could become a great turnaround story if they’d roll those shares back and reboot. If they did they could emerge in a stronger mid-range like Endeavour Mining.

      For my West African interests I went with Teranga Gold, Hummingbird Resources and Avnel Gold. I’ve traded Roxgold in the past as well.

      Cheers mate.

        Jan 27, 2017 27:34 AM

        Speaking of Perseus…..

        Perseus Mining’s (PMNXF) CEO Jeff Quartermaine on Q4 2017 Results – Earnings Call Transcript
        Jan. 26, 2017

        http://seekingalpha.com/article/4039984-perseus-minings-pmnxf-ceo-jeff-quartermaine-q4-2017-results-earnings-call-transcript?part=single

        Jan 27, 2017 27:46 AM

        Excelsior,No,i don´t hold Perseus at present,i sold my shares because like you i thought that it wasn´t responding like other pm companies.

        Cheers

          Jan 27, 2017 27:39 PM

          Pete – you may like this. I had posted those Perseus Q4 numbers on ceo and some of my pals came out of the woodwork to knock Perseus’s performance as well, even though they all respect the company. Just like here, if you post info on a company everyone assumes you have a position or are pumping it, when I was merely sharing the info. Anyways I got a kick out of it, and there were some valid and balanced responses:

          https://www.ceo.ca/pru

      Jan 27, 2017 27:25 AM

      That was quite a plunge in December but it seems to be recovering…

      http://stockcharts.com/h-sc/ui?s=PRU.TO&p=W&yr=5&mn=3&dy=0&id=p57292616333&a=456067336

        Jan 27, 2017 27:50 AM

        Yes, it was a nice plunge,at the time i almost bought it back.
        Thanks,Matthew

      Jan 27, 2017 27:49 AM

      Potash has been in a downward trend for years now. I did hold some shares in a few of the larger and smaller companies for a while, then I quit holding and just started trading them, but I just lost interest in them and pulled out last year. I still believe people must eat, but have been waiting for the Potash sector to have enough supply destruction to signal the bad times are over in that sector. There have been a few Jr companies that took off, but I missed those moves in favor of the ones in the metals and energy stocks.

        Jan 27, 2017 27:58 AM

        Excelsior,

        “Bad times”, i like bad times because after bad times comes good times 🙂
        When i read articles like,
        “profit down 70% on weaker prices, expects challenging year ahead” i know there is an opportunity coming..

          Jan 27, 2017 27:16 PM

          Yes agreed Pete. Very good thoughts on watching this sector with keen interest when it is down, weak, and unloved. That is the art of contrarian investing for sure.

          Personally, I was just too early to the Potash party in 2015 and 2016 so I want to see signs of a turn, and then I’ll be positioning with longer term buy&hold trades.

          Most of the larger companies have been laying off thousands of workers and closing, halting, or reducing operations at many facilities, so there is true supply destruction starting to happen. That usually marks the bottom, but I’m just saying that there isn’t a mad dash to get positioned at this time.

          Last year, slightly let down at the action….. I moved my Potash funds over into more Lithium and Renewable Energy while I’ve been waiting. My plan is to peel off profits from those sectors to redeploy into the Agricultural stocks this year and next year as the Lithium and Renewable Energy stocks build in strength.

          Watching for now…. (and after you comments today more closely than I was yesterday)

            Jan 27, 2017 27:35 PM

            Yes,watching for now… 🙂

        Jan 27, 2017 27:10 AM

        I have some potash but I feel potassium fertiliser has enough cheap supply from Russia so its price is limited. Their merger with Agrium further limits its potential. So I sold half with good profit. I bought around a month before the merger betting Potash reached its bottom. But it turned out to be a good short term trade instead of long term as I expected. BTW, my UR Energy is doing great. I have a cost average 68 cents in Canadian market URE. Thanks.

          Jan 27, 2017 27:34 AM

          Thanks,dragonite.

            Jan 27, 2017 27:37 AM

            I´m a parrot,thanks,thanks,thanks 🙂

    Jan 27, 2017 27:13 AM

    K92 Drills Multiple High Grade Gold Intersections in Irumafimpa Area
    (Marketwired – Jan. 27, 2017) –

    Intercepts include:
    – 8.18m at 33 g/t Au plus 1m at 4.51 g/t Au plus 1.1m at 4.96 g/t Au in hole GCDD0020a
    – 2m at 22.6 g/t Au plus 5.1m at 9.73 g/t Au plus 3.2m at 6.03 g/t Au in hole GCDD0020
    – 2.7m at 28.75 g/t Au plus 1m at 2.49 g/t Au in hole GCDC0016
    – 2m at 32.32 g/t Au in hole GCDD0019
    – 1.5m at 73.16 g/t Au plus 0.94m at 4.74 g/t Au plus 1m at 5.44 g/t Au in hole GCDD0011
    – 4.3m at 8.16 g/t Au in hole GCDD0018

    “K92 Mining Inc. (KNT)(KNTNF) is pleased to announce the latest results from the ongoing grade control drilling program at its high grade Kainantu Gold Mine. K92 is currently ramping up the Kainantu Gold Mine towards commercial production, with its longest continuous production run to date now commenced….”

    http://www.marketwired.com/press-release/k92-drills-multiple-high-grade-gold-intersections-in-irumafimpa-area-tsx-venture-knt-2191580.htm

      Jan 27, 2017 27:54 AM

      Zerohedge is shameless. It keeps pumping out pessimistic predictions without even bother to check how many have materialised. I also find almost all western experts have been wrong about China, for more than 60 years!!! The collapse theory comes and go and new ones will surface. I remember a guy has been predicting China collpase for last 16 years. He publishes book, updates it every year and renames it collapse 2001, 2002, 2003… It is really ridiculous. The problem is they know nothing about China and believe dictatorship will collapse. But they don’t know China might be the only country where government fears the people. Government has been liberalise the economy even it means they have less and less control. Chinese are famous for rebellion so stability and focus on economy is always the priority. So people can feel good and live their own lives. Since it is a very practical society without political correctness, it actually develops really fast. Every time I go back, there is something new. I see more and more in China which we don’t see here. China may collapse but definitely not in the near future. Don’t trust some overseas Chinese doom promoters either since they are most from losers in the previous wars. Off course they hate Chinese government. They has been communists will have their heads cut off since 1920s.

        GH
        Jan 27, 2017 27:34 PM

        Always good to get your perspective, Dragonite.

        For my part, I’m keenly aware that I don’t understand China at all!

        Jan 27, 2017 27:38 PM

        Dragonite:

        Every country gets a century. The Spanish had the 16th, the Dutch the 17th, the French the 18th, the English the 19th, the Americans the 20th. It doesn’t make a rat’s ass what the Chinese economy does, it’s still going to be their century.

    CFS
    Jan 27, 2017 27:33 AM
    GH
    Jan 27, 2017 27:33 AM
    GH
    Jan 27, 2017 27:48 AM

    More on the disgusting John McCain, one of the most unsavory characters in US public life:

    https://mishtalk.com/2017/01/19/mccains-hypocrisy-has-no-bounds/

      Jan 27, 2017 27:34 PM

      GH:

      When I was going through flight training in Meridan Mississippi in 1965, McCain was an instructor. He was 100% jerk then and nothing has changed. He wasn’t much of a pilot either.

        GH
        Jan 27, 2017 27:36 PM

        I guess one thing he has actually earned is his nickname ‘McNasty’.

    Jan 27, 2017 27:01 AM

    The guy who peg gold to yen is making sick joke to the world. There actually have no relation. Yen is a terribly flawed currency, more then other paper currencies and gold is money. He may have a lot of money to do it but he will fail when physical demand defeats him. Let’s see how much gold he have?

      Jan 27, 2017 27:16 AM

      Dragonite, it is “pegged” to gold precisely because of the policy to keep it cheap. It gets borrowed because it is so cheap in order to invest/speculate elsewhere.

      The same negative conditions that send investors into gold also cause investors to cover their short yen positions. Those who don’t understand this cause and effect don’t realize that the yen isn’t a safe haven at all, it just appears to act like one.

        Jan 27, 2017 27:08 PM

        Yeup – the carry trade on the Yen gives it such an interesting correlation. I do believe the algos for the Dollar/Yen and Gold are keyed off each other to some degree in the computer trading.