This selloff could take 2 forms
The markets opened up down and are slowing trying to fight their way back. Precious metals and treasuries are moving up and hold well. The overall optimism that has driven this market continues to drop which leads Chris to think the selloff will continue in one of two ways. Chris also thinks that it is a matter of time before gold breaks it’s upper resistance at $1,260 which has been a tough level to crack the last couple weeks. Overall the biggest takeaway is that Chris does not see many scenarios where this selloff turns around quickly.
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Bix Weir’s Morning News:
https://www.youtube.com/watch?v=nrO8Y3RnyQ0
CFS Bix Weir on SGT Report is now talking of a colossal hoarde of silver yet to be unaccounted for….! Bis is quite some conspiracist…
didnt notice you posting this andrew.
I found it interesting.
Chris/Cory:
Do you think the Fed could reach a point with the conventionals drifting lower when they will begin purchasing stocks directly like BofJ and the SNB? How would that affect gold in your opinions?
Hey SD, good question. I personally do not see the Fed ever stepping in and flat out buying stocks. I know the BoJ is doing it but in the US the market is different in the fact that the Fed can give out cheap/almost free money and the traders and big banks will end of buying the shares. Also if the markets drop heavily then they can step in a give bailouts which in a way is a different way of buying stock on the market. I’m not saying it will not happen I just don’t think it will.
1307………..
Demos are going to work real hard for a ONE TERM TRUMP
Dr. Dave Janda interviews former CIA Clandestine Service Officer Robert David Steele….
http://www.davejanda.com/guests/robert-david-steele/sunday-march-26-2017
Dems delay Senate panel vote on Supreme Court nominee
Democrats are delaying for one week an initial committee vote on Neil Gorsuch, President Trump’s nominee to the Supreme Court.
http://thehill.com/business-a-lobbying/325923-dems-delay-senate-panel-vote-on-supreme-court-nominee
better to stick with fake paper gold and silver……..comex forever…….
this is going to hurt Ebay…….the stories are getting worse……
We give the chinese fake fiat, they give us fake gold…………
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1.02170
+0.00690
+0.68%
1.02420
1.01570
+2.01
11:10 CT
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Euro FX (Jun ’17)
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+0.00640
+0.59%
1.09490
1.08725
+1.52
11:10 CT
SIK17
Silver (May ’17)
18.050
+0.302
+1.70%
18.150
17.780
+1.34
11:10 CT
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+0.0079
+0.63%
1.2643
1.2517
+1.31
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14.800
14.000
+0.99
11:10 CT
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0.077225
-0.002050
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0.080075
0.076850
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11:01 CT
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173.10
-7.25
-4.02%
180.15
171.20
-2.09
11:06 CT
PAM17
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795.85
-17.50
-2.15%
812.65
793.60
-1.55
11:05 CT
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U.S. Dollar Index (Jun ’17)
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99.335
98.670
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66.000
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67.075
65.850
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GREK
G-X FTSE Greece 20 ETF
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7.92
7.85
+2.29
12:04 ET
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76.02
75.66
+2.24
11:58 ET
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22.99
21.50
+2.03
09:33 ET
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96.93
96.81
+2.00
12:04 ET
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116.10
+1.98
12:03 ET
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29.50
29.40
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46.60
44.55
-2.35
11:48 ET
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Wisdomtree International Hedged
28.15
-0.10
-0.35%
28.19
28.04
-2.21
12:00 ET
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Multi Asset Income Guggenheim
20.37
-0.03
-0.15%
20.39
20.28
-2.19
11:50 ET
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22.92
22.50
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France’s Total Invests In $1.7 Billion Texas Energy Site
By ANGELA CHARLTON – Associated Press – 59 minutes ago
PARIS (AP) — French energy company Total is launching a multi-billion-dollar petrochemical joint venture in Texas as it tries to profit from the “business-friendly environment” under the current U.S. administration.
The plan announced Monday in Paris is the company’s largest-ever investment in petrochemicals, and part of its strategy to benefit from cheap shale gas in the U.S. and President Donald Trump’s support for the energy industry.
Total will partner with chemical companies Borealis and Nova to build two new units on the U.S. Gulf Coast.
One is an ethane steam cracker in Port Arthur, Texas that would convert natural gas into chemicals used for plastics and other materials. Total would provide the initial $1.7 billion for that operation.
The other is a new polyethylene plant in Bayport, Texas, also for making plastics. The cost of that plant is still being worked out among Total, Borealis and Nova, said Bernard Pinatel, president of Total’s refining and chemicals. Overall, he said, the project would be worth several billion dollars and Total would hold 50 percent of it.
Total says the venture, which depends on regulators’ approval, would start in 2020 and create at least 1,500 local jobs.
oops….I need another cup of coffee…..sorry for extra in posting.
Pure Gold drills 1.9 m of 23.1 g/t Au at Madsen
2017-03-27 07:16 ET – News Release
Mr. Darin Labrenz reports
PURE GOLD MAKES NEW DISCOVERY AT RUSSET SOUTH, MADSEN GOLD PROJECT
Wanted to post this again, some people around here have been interested in zinc.
New mine in Iran to add 800,000 tonnes of zinc concentrate every year
IMIDRO estimates the lead-zinc-silver mine has 154 million tonnes of proven reserves, which could rise to 700 million tonnes after exploration. Reuters notes the 800,000 tonnes of expected annual zinc concentrate compares to 13.2 million tonnes of ore with zinc content mined throughout the world last year.
Story is from mining.com
Thanks B!
I know you have been interested in investing in pot shares lately. I bought EMC last week which seems to be one of the Canadian marijuana leaders when the market is legislated in Canada in the near future.It came down hard from 4.30 isch cad to 2.05 cad last week because free pp shares came into the market last week. Seems like a very nice entry point right now between 2-2.50 cad. Latest pp was done at 3,60 cad I think. Otherwize the company has good management team and some good news:
http://www.geckoresearch.com/news-emblem-sees-significant-rise-in-patient-acquisition/
pot shares could be a no brainer.
In canada ive only found 8? maybe i missed 1 or 2. I havnt been watching for new ones.
Last i checked there are only 2 profiting right now, 1 of them is going to have the largest growing capacity …i think in N.America. expected oct 2017.
Maybe the world.
I see some companies a long way from profiting and they still are going up.
Says to me, people dont research and its psychology thats driving the market.
Balance sheets and sales seem to be meaningless right now.
On the other hand, expected sales could make all of them huge profit machinces.
I think if a person had the funds, they want to own all of them.
Course, the gov could change their mind about tax income.
Its expected to be billions and billions………and more billions.
Naturally,now its gonna be legal, I dont smoke anymore.
One other thing Blue, it will take HUGE pm mines to come anywhere near close to the profits of pot growers.
If ya take the time to figure profit and loss book keeping stuff, you may find it interesting.
I agree that there is a lot of speculation today in the marijuana market. Im in with one company, a canadian company that seems to be one of the market leaders in the future. I dont wanna play it short term only long term and buying the dips.
Graham Summers offers three bell-weather charts showing the line in the sand and backs up what Chris expounded on in this discussion: http://news.goldseek.com/GoldSeek/1490625300.php
Bix Weir figures he found 275 billion oz of silver.
https://youtu.be/R_kR9d8j6vc
Doesnt know how much is left.
Interesting to me, Ive figured for a long time we could only deduce 1/2 the equation, demand but not supply.
I guess we can look at it 2 ways, one, lots of silver around (psychology moves price) or (much more fun)
its to the moon any minute.
Sometime prior to 2006, GAO revealed all of the defense strategic silver stockpile had been depleted.
thats only a maybe, i notice anyone that has wanted any amount for years has got it.
Im not trying to disparage PM investment, I own it myself.
Just something Ive noticed.
Good conversations, when trump won most of us were always sceptical on how much he could actually get through, and the market was pricing like everything would go the way trump intended it to and that it would all be positive.
This initial pushback is confirmation that trump will be challenged and not everything he says will be passed. Some of trumps policies like border tax and protectionism is outright stupid….if he looked into how economics work and how US has cleverly utilised globalism to ensure its status and keep up the dollar as the reserve currency he would realise why the US has done what its done, not only that but protectionism is never the answer as the world benefits from free trade. (again there are deeply reseearched economic studies to support why this is so)…. If the stock markets do start reversing back to where they were before trump got elected i.e a bit more normalcy, gold should move higher. However this potential move down in the markets, if it continues will just be a little blip…..I don’t see this as the big correction quite yet….the bigger correction which I think will be short term, but violent will most likely drag gold down along with other commodities before central banks step in, and actually that’s the one I’m most fearful off. Gold stocks could get smashed down quite sharply……….
How to break gold $1260: do not run Algo blocking gold over $1260. Problem solved.
I guess its not in the bankers/traders etc interests for gold to become too important. I mean they live for fiat, so it explains the natural bias they would have 🙂
you are right. Fiat is a ponzi scheme and gold/silver is real money which highlights the fact they all should be in jail.
I would say don’t worry, but at the same to also worry because there will definitely be a day where the whole system collapses on itself within the next lets say 25-50years. The only way out is for central banks to experiment with negative interest rates worldwide, and to induce inflation to inflate away our debts….but if that scenario happened gold has proven to be a winner. Most people say the only thing guaranteed in life is death and taxes. I would one extra to that and that’s for gold to remain as an ultra long term store of value. I just cannot see how the fiat system can strengthen against gold over the long term. Since we went off completely in the 70s gold has been the strongest currency, and over the very long term that will continue. Only thing stopping it is for government to make ownership by anyone illegal including central banks and kill the gold mining industry completely.
And we know that can’t happened, as it would need to be co-ordinate by all the central banks around the world including the governments. Imagine them getting together and all agreeing to this LOL.
Miners will never just trend higher from here. even if this turns out to be the greatest bull run of all time, they will shake this tree until no one is left holding. They can and will take GDX anywhere they want in the short run. They could take it to $18 or lower in 2 weeks and then back up to $23 the following 2 weeks. Gotta love this sector.
The market works in the long run, you won’t see $1500 gold and then GDX at $18. The traders would like to make fiat, so I’m sure they’d be happy to push GDX up as well…
On a bullish note, SLV’s 3 day ema is above the 10, which is above the 20, which is above the 50, which is above the 200 day ema. last time that happend was April 2016.
Actually, I take that back. It also happened just a couple of months ago too, and ended up being a false start. Still, will this really end up being another headfake? I have my doubts. but then again the silver miners have been weak.
False start or intentional algo slam
Epstein TA
https://youtu.be/OAvrnLTAJ2A?t=29