From the category archives:
This morning, we are seeing gold build on its sizeable gains from last week, and oil is up as well. The reason for the move in oil is simple: The explosive conflict in the Middle East is acting as a catalyst on an oil market that was already deeply oversold. Here is some [...]
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Yesterday I did a MaM-TV video talking about potential movements in ExxonMobil and gold. Exxon Mobil failed to follow through on its breakout from Tuesday; we’ll have to see what happens next. I showed you the Exxon chart yesterday. Here’s a version of the chart of the GLD that I showed in the video … [...]
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After I recommended a bearish position in RCE on Friday, the markets surged like a rhino on cocaine. Typical! Still, it’s better than a hot-death sandwich, if only because A) we kept the position small and B) my other services, which are longer-term, retain their bullish stance on gold, energy and agriculture.It seems to be [...]
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Remember how rosy things looked yesterday morning, with the market shaking off bad economic news? Well, that faded in the afternoon, and today, just rotten economic news is giving the markt its lumps. And yet gold is down despite an apparent weakening trend in the U.S. dollar. Look at a chart of the dollar … Maybe [...]
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November saw the sales of cars manufactured in North America drop to 236,000 units. That’s 17% below October (which was already horrible) and 40% below the number sold in November of 2007. Source: Econbrowser.
Meanwhile, GM and Chrysler are seeking $11 billion to avert collapse this year. In short, they are simply running [...]
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Deflationary forces are pushing the price of gold lower. However, beyond the short-term price for paper gold, some of the news is surprisingly bullish. I’m putting out an update to my recent gold report today, with some very interesting news on supply and demand. The director of the World Gold Council was [...]
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The US government is bankrupting our economy by burning through hundreds of billions of taxpayer dollars in the form of bailouts to Paulson and Cheney cronies. American Express is getting bailout money?Seriously? American Express could vanish off the face of the Earth and we’d hardly notice. I think it telling though, that American [...]
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I spent the weekend at the Washington D.C., Money show. The show has shrunk from last year, and the opinions ranged from “this is an incredible time to buy” to “Aaaaaaiiiiiii!!!!!” I’ll have more about that in Wednesday’s Money and Markets column.
This morning, the market is rising on news of a $586 stimulus plan [...]
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It’s been a heck of a day. Gold cratered in overnight trading, then bounced, and now is headed lower again. The same for the broad stock indices. Crude oil is rallying, but not much when you consider that OPEC is about to announce a production cut (according to whispers).
METALS
Gold Falls Below $700 [...]
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If you bought my new gold report, this chart will interest you. It’s weekly chart of the GDX … Agnico Expects Share Declines, Bankruptcy for Some Junior Mining Companies Agnico-Eagle Mines Ltd., the Canadian gold producer planning to increase output fivefold, said smaller mining and exploration companies may go bankrupt as their [...]
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