Wealth Creation Through Natural Resources
There are plenty of reasons to turn bearish on gold (huge increase in speculative long interest, bearish seasonality, etc.) after a nearly $200/ounce advance in the space of one month. However, the price action is undeniably strong and the relatively … Continued
Just one month ago shares of Freeport-McMoran (FCX) and Teck Resources (TCK) were plumbing new depths near all-time low levels. What a difference a month makes: TCK has nearly tripled from its January 13th low at $2.56 and FCX has … Continued
Gold spent last week consolidating the gains of the previous weeks within a pennant pattern: Gold (Daily) It is likely that we will have another few days of consolidation ahead before gold’s next large directional move takes place. While … Continued
Bob Moriarty, Founder & Editor of 321gold, has had a hot hand recently with some of his market timing posts. In early February he emphasized that the bottom is in for gold and gold mining shares, gold surged more than … Continued
Noted technician and fund manager J.C. Parets has been a long time friend of CEO.CA and E&G. Yesterday he put up a tour de force post on gold and gold miners highlighting the significance of some of the recent price … Continued
According to the Bank of America/Merrill Lynch (BAML) fund manager survey gold is the most undervalued it has been since 2008 and crude oil is the most undervalued it has been since the survey began in 2008: … Continued
Gold futures have pulled back nearly $60/oz from last Thursday’s parabolic blow-off high, retracing roughly 38.2% of the entire breakout since late-January: Gold (Daily) The $1190-$1200 area now becomes important support; the $60 shakeout since Thursday’s high is standard price action … Continued
A lot happened this week in the precious metals & mining space. A quick summary of the big events: Gold finished the week $65/oz higher and rallied as high as $1263.90/oz on Thursday, reaching its highest level in US dollar … Continued
Less than a month ago nobody wanted anything to do with the yellow metal, now suddenly everyone is bullish on gold and the herd is cramming through a narrow doorway trying to get long: GLD (Daily) The GLD exchange-traded … Continued
Since topping out above US$4.50/lb in 2011, copper has fallen by more than 50% to a recent low of $1.94/lb. The 5-year copper bear market can be primarily blamed on soft Chinese demand and bloated Chinese copper inventories resulting from … Continued