Wealth Creation Through Natural Resources
The yield on the 10-year U.S. Treasury note has been coiling since making a low in February: 10-year U.S. Treasury Yield (gold/10-year yield correlation below) It is likely that the series of lower highs and higher lows which … Continued
Tuesday’s big sell-off in gold with a break below the 50-day simple moving average and key support near $1250/oz looks to have generated a significant liquidation in what was a couple weeks ago a near record net long position by … Continued
The latest commodities report from RBC states that gold is in fair-value territory primarily due to the fact that bearish sentiment has jumped in the past few weeks: The final sentence is also telling: “With all eyes on the … Continued
The gold miners got hammered today with a 5.51% sell-off in the GDX on relatively heavy volume. However, an interesting fact is that GDX has a pretty good track record following 5%+ one day declines. In fact the last four … Continued
The gold miners took a beating today in the form of a 7.90% decline on more than 2x average daily volume. Aside from the already mentioned bearish implications of a decline of this magnitude, the backtest results for declines on … Continued
We have not made it a secret that we have interpreted the recent volatile, high volume trading range in the gold miners (GDX) to be a bearish prelude to a summer correction. After more than doubling from the all-time low made … Continued
This morning Select Sands Corp. (SNS.V) announced that they have entered into a letter of intent in respect to a proposed purchase by Comstock Metals (CSL.V) of Select Sands’ Preview SW gold project located in the La Ronge district of … Continued
After today’s 6.41% drubbing the gold miners have essentially gone nowhere in the last three weeks despite traversing a nearly 20% range and making a 21-month high last week. Even as price has remained range-bound, volatility is breaking out to … Continued
Legendary hedge fund manager Stan Druckenmiller gave a presentation at the Ira Sohn Conference last week entitled “The Endgame”. It has been a while since an investment presentation had such an impact upon me so I decided to highlight some … Continued
Commercial speculators have amassed a more than $38 billion net notional short position in gold futures which is the largest short position by the commercials since September 2012: While the $38 billion short position is impressive it is still … Continued