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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: carranza2 who wrote (160662)	7/28/2020 2:21:50 PM
From: Haim R. Branisteanu	2 Recommendations Recommended By pak73 Pogeu Mahone Respond to of 219523

OLd gold bugs never die :) <GGG> So once in a while they are corrrect. Regardless I still see gold as a barbaric relic and this includes platinum unrelated to its rise in price in USD but not so stellar in other currencies. IMHO it will end up badly as it will be confiscated in exchange of debenture note as countries at present pace will face huge social unrest One example is in Rusia the Khabarosk demonstrations unheard of in Russia even during Tzarist times. Anyone knowing the situation in Siberia will know that the situation is serious. rferl.org rferl.org

To: carranza2 who wrote (160662)	7/28/2020 3:32:00 PM
From: TobagoJack	2 Recommendations Recommended By pak73 Pogeu Mahone Read Replies (1) \| Respond to of 219523

Other folks expecting different Must take into consideration zerohedge.com Gartman: "I'm Getting Out Of Gold" Ever since Dennis Gartman quit the newsletter business on Dec 31, 2019, there has been a distinct void in the markets, with both algos, daytraders and institutions unsure how to trade and what to do now that there is no "sure thing" to fade (in fact, some have speculated whether the dismal volumes and lack of institutional participation in the market outside of the March crash have something to do with the lack of the contrarianism spawned by the Gartman Letter). Well, good news. Perhaps missing the media spotlight that having a daily newsletter afforded him, Dennis Gartman finally made a long-anticipated appearance this morning, discussing the one topic that is on everyone's lips: precious metals. And goldbugs take heart: after last night's sudden, sharp drop in the price of gold moments after the Dec future hit $2,000, there has been some speculation that this could be it for the current runup higher in gold. Maybe... although if Gartman's infamous "contrarianism" is any indication, what happens next is nothing short of a historic surge even higher in gold (in line with what even Goldman now expects). Speaking to Fox Business News this morning, Gartman - who apparently is now the University of Akron Endowment Committee Chair - said that he is "getting out of gold"... ... which coming from the man who famously once said that oil would never rise above $44/barrel in his lifetime, is all gold bulls needed to hear, and may explain why after slumping early on Tuesday, the precious metals complex has been on a tear again, with gold trading at $1,950 and silver above $24. To be fair to Gartman, he is not the only one getting out of gold. Lombard Odier Chief Economist Samy Chaar told CNBC on Monday that his team had sold half of their position in gold. Chaar said that while holding some gold was important in a world where a lot of debt is negative-yielding, the deep negativity of U.S. real interest rates creates some "vulnerability" for gold at the current price levels, since such low rates are not sustainable given the economic outlook. Another strategist, whose work we have come to appreciate quite a bit in recent months, and who also decided to take profits on gold, is Nordea's Andreas Steno Larsen, who this morning tweeted that he is also "out of my long Gold position" Which begs the possibility that perhaps Gartman will be right this time: after all, as Bloomberg noted this morning, with spot gold's RSI hitting a massive 85 yesterday, "only the fifth time that the bullion was so overbought since 2000" gold may be in for a brief retreat in the next few days before resuming its rally, if history is any guide. NEVER MISS THE NEWS THAT MATTERS MOST ZEROHEDGE DIRECTLY TO YOUR INBOX Receive a daily recap featuring a curated list of must-read stories. In all four previous occasions, gold declined over the next 10 days, with an average loss of 0.83%, according to Bloomberg’s trading signal function. So the pullback this morning after seven straight days of gains is in line with the historical norm. That said, as Bloomberg's Ye Xie points out, this indicator does not spell the end of gold's rally as in the past, the precious metal eventually resumed the rally after brief periods of consolidation in the previous four occasions: "The most recent one when RSI hit above 85 occurred on Jan. 6, with gold at $1566 per ounce. Bullion has since climbed 24%." Meanwhile, as Goldman explained earlier, in the current environment where both real yields and the dollar are likely to drop more, "it’s likely that gold will continue to shine in the months to come." And what better way to ensure that this prediction comes to light than having Dave Portnoy, who is enjoying a bit of a personal vendetta with Gartman, to tell his retail daytrading army to go all in gold. Sent from my iPad

To: carranza2 who wrote (160662)	7/29/2020 9:36:22 PM
From: TobagoJack	Respond to of 219523

according to msm we are supposed scrutinise the gold miners current p&l and balance sheet, and not so much think about where gold itself is headed, I guess bloomberg.com Gold Mining Stocks Face ‘Fat Pitch’ Opportunity as Earnings Loom Aoyon Ashraf29 July 2020, 11:58 GMT-7 LISTEN TO ARTICLE Record-setting gold prices may have created bullish investment opportunities in gold miners but their appeal will be put to the test this earning season as investors scrutinize their ability to stay disciplined. Gold producers are set to release second-quarter results, starting with Agnico Eagle Mines Ltd. Wednesday afternoon and Newmont Corp. Thursday morning. Analysts see adjusted earnings per share of 15 cents at Agnico, according to data compiled by Bloomberg. That would represent about a 50% increase from a year earlier. At Newmont, analysts see 31 cents, or a jump of 158%. In theory, the bullish run in the price of gold should help gold miners. The gold spot price climbed 13% in the second quarter and is heading for its biggest annual gain in a decade. But gold miners are still “exceptionally undervalued both on an absolute scale and relative to the metal itself,” according to John Hathaway, senior portfolio manager at Sprott Asset Management USA Inc. The current dislocations between the price of gold and mining stocks have created a “fat pitch” opportunity, he said, applying a baseball term -- if investors swing at such disparity, they could be rewarded with enormous gains. Investors, though, haven’t completely stepped up to the plate, waiting for signs that the industry doesn’t repeat past bullish-cycle mistakes of overspending and destroying billions of dollars in shareholders value. Past Pitfalls“In the context of this favorable outlook, investors may begin to scrutinize capital allocation and investment decisions such that pro-cyclical pitfalls of the past are avoided,” RBC analysts led by Josh Wolfson wrote in a note. Wolfson picked Kinross Gold Corp. and B2Gold Corp. as potential winners among peers when they report results. He sees Iamgold Corp., Agnico, Newmont and Pan American Silver Corp. as carrying the risk of falling short of expectations. Don’t forget Covid-19, which will make the results “messy” because of operational disruptions, according to BMO analyst Jackie Przybylowski. “We are expecting that differences in Covid-19 closures and the reporting of costs associated with these closures will make the results difficult to interpret when compared against previous or future periods or consensus estimates,” she said in a note. Even so, miners that can show discipline will stand out, RBC’s Wolfson said. Gold companies that are “harvesting cash flow, repaying debt, increasing dividends, and allocating capital at high rates of return should be rewarded,” he said. This could potentially translate into “one of the fattest investment pitches of our time,” said Sprott’s Hathaway. Such opportunities are rare, he said, and “deserve serious consideration and expeditious response.” Just the NumbersAGNICO EAGLE2Q adjusted EPS estimate 15c (range 1c to 22c) (Bloomberg Consensus).2Q gold production 306k, cash cost $843 per ounce goldApril 30, Agnico Eagle Mines forecast gold production for the full year of 1.63 million to 1.73 million ounces and capital expenditure of $690 millionAgnico has 13 buys, 4 holds, 2 sells; avg price target of C$96Agnico’s option implied 1-day share move following earnings is 2.8%The company is set to release its earnings release Wednesday postmarket Call at 11am (Toronto time) July 30, 1-888-231-8191NEWMONT2Q adjusted EPS estimate 31c (range 23c to 37c) (Bloomberg Consensus).2Q sales estimate $2.38 billion (range $2.15 billion to $2.92 billion)May 19, Newmont forecast gold all-in sustaining cost per ounce for the full year of about $1,015 and 2020 outlook is about 6 million ounces of attributable gold production, near the lower-end of the company’s previous outlookThe company said second quarter is expected to be the lowest production and highest cost quarter of 2020 as the sites ramp up from care and maintenanceNewmont has 15 buys, 6 holds, 1 sell; 12-month avg price target $72Newmont’s implied 1-day share move following earnings is 3.5%The company will release its earnings July 30 before market open Call 9am (New York time), 855.209.8210 password: Newmont Before it's here, it's on the Bloomberg Terminal. LEARN MORE