Are Metals Starting A Multi-Week Pullback?
Doc kicks off this week with comments on the move down in metals stocks. After a nice run since the Fed rate hike a pullback would be healthy and consistent with our range bound outlook for the metals until the second half of this year. We also discuss the USD up move today. This could also be playing a roll in the metals stocks pullback.
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lol. super rare stuff I hear too.
Super rare lol
Doc, with a minor correction in gold and silver in the near term before they move higher later in the year? What are the price targets you think we will hit as pullbacks that would be a good place to buy gold and silver?
Pardu, I think a good price point would be 1200-1240 for gold and 15-15.50 for silver.
By the way, Pardu, if prices get close to those areas ask me again since the technicals might show at that point prices might fall further.
Despite Doc’s newly honed guillotine, I have to keep my neck way out and stick with my “no way.”
In fact, I think buyers would be lucky to see a dip into the 1290s from here.
Btw & fwiw, I was a buyer today – miners not metal.
Gary Savage thinks we may have a small pullback in gold, but that will be a time to buy.
I agree about the pullback but the buying should be done on a case-by-case basis. Individual miners often move a little differently than the sector as a whole.
I agree
Doc’s technicals are worthless. Seriously. Just listen to his commentary on Friday 12/8/17.
He was looking for lower prices right before the price went straight up for 15 of 17 trading days.
From that interview.
“But then watch out! I think we start moving down to that 1200 to 1220 area”
He can resort to calling me a troll for calling him out on this, but that is okay. I have been trading the mtals markets for nearly 30 years and have yet to see anyone call the short term correctly.
PPPMF strong today
That’s because I sold a bunch for a tax loss@.07 Watch it go back to 1.00
weed at this point has gone up more than $5 today, I guess not many noticed but awhile back, dip buyers woulda picked it up for $7.50(todays price over $39)
Now its going up almost that much in a day? lol
Not a bad place to be while waiting for gold to actually do something.
Whats gonna do better? pot or PMs?
Pot would be my bet…
I have decided to melt my silver down and make pot pipes……. I will even monogram them for the elites……………..lol
Ya, silver pipes with gold inlays would be worth a mint.
Ya see the price of some of that silver jewelry? 20 a gram?
My silver coins have outpaced my bullion….boooooo
If your interested
ACB
AURORA CANNABIS INC $14.00
APH
APHRIA INC $21.93
EMC
EMBLEM CORP $2.59
WEED
CANOPY GROWTH CORP $39.74
ABCN
ABCANN GLOBAL CORPORATION $2.13
WMD
WEEDMD INC $3.06
novo no fun today.
Interesting to see anx up a hair after Bobs article.
novo seems to be struggling after Bob mentioned Kirkland?
And my c.rks was up 45% today……
As gold prices rally into the New Year, one major theme that has already emerged is the 2018 Gold Sector Consolidation Thesis. In a recent report by Canada’s Scotia Bank (attached) entitled “A Legitimate Case is Building for More (Accretive) M&A”, several key themes were highlighted, namely:
*Gold mining business remains highly fragmented, with low barriers to entry – in theory, this should make for an attractive landscape for corporate deals.
*Today’s shifting geopolitical landscape provides sound reasons for larger companies to execute on (ideally accretive) M&A: Reserve Replacement & Diversification.
Higher bullion values used to allow resources to increase via lower cut-off grades- today that luxury is mostly gone.
*Need to mitigate single-asset and jurisdictional risk giving rise for corporate activity in the mid-tier producer segment.
Given GoldMining’s vast portfolio of gold (in excess of 19 million gold ounces of 43-101 compliant resources), these themes bode extremely well for 2018!
Best regards,
Bruce
Bruce Nicholson | VP of Corporate Development
GOLDMINING INC
China………just discovered 110 Million Tons……of………..SILVER
http://santiagotimes.cl/2018/01/07/china-just-discovered-over-110-million-tons-of-silver/