Wealth Creation Through Natural Resources
The gold miners are represented by the GDX have vastly outperformed gold thus far during 2015: This impressive display of relative strength has developed into a near perfect symmetrical triangle on the daily chart of GDX despite a relatively messy … Continued
During January the GLD exchange traded fund experienced the largest monthly increase in its gold holdings since summer 2012: The August/September 2012 GLD inflows had a lot to do with the Federal Reserve’s ‘QE3’ announcement which occurred on September 13th, 2012. … Continued
Bears come out to play as Gold, Silver, Platinum and Gas among other commodities get mauled MarketWatch: Gold post biggest drop in the past 14 months!!! Mining.com: Potash Corp profit rips 77% on record sales CNNMoney: Obama’s Boom Town… check that, Obama’s … Continued
Since forming a double-top at $1307/oz last week gold has formed a bearish technical pattern that could result in a move lower back down to the $1250s: A breach of the $1275 support level would set up a pullback to … Continued
Small speculators more than doubled their net length in gold futures ahead of the ECB’s quantitative easing announcement on Thursday: This is the largest net long position in gold futures that small speculators have had since early July which happened to … Continued
Check out these quality links and have a powerful weekend!! Bloomberg: ECB’s Quantitative Easing Program Is Open-Ended, Visco Says TraderFeed: Tracking Real Time Market Sentiment Through Buy and Sell Programs CEO.CA: Iamgold is going shopping with $800 million and a check list Bloomberg: Ruble … Continued
After spending the 2nd half of 2014 in a steady downtrend, the euro currency has entered crash mode at the outset of 2015: EUR/USD is down more than 600 pips so far in January and the euro is down much more against … Continued
As pointed out a couple of weeks ago gold and gold stocks have been closely following the price pattern from August/September 2012 just before the Fed announced QE3. The analog is now reaching a potentially key inflection point: GDX (June-December 2012) … Continued
The rally in gold miners which began in mid-December now measures over 31% and the GDX is threatening to move back above its 200-day moving average for the first time since early September: Given that other ‘bear market rallies’ during … Continued
The shock SNB move has caused some turmoil among foreign exchange brokers, meanwhile oil is heading for its longest weekly losing streak since the brutal 1986 oil bear market… Kimble Charting: Gold is attempting dual 4-year breakouts Bloomberg: Casualties From Swiss … Continued