Correction in Gold and Silver Underway

Technical analyst Jack Chan charts a correction in the gold and silver markets and plots his investment strategy. Our proprietary cycle indicator is down. We are short GLD with a tight stop. Our ratio remains on sell signal. Summary A bull market in gold and silver has been confirmed, but the cycle is down and a correction is in progress. We are short GLD with tight stops. Jack Chan is the editor of simply profits at www.simplyprofits.org, established in 2006. Chan bought his first mining stock, Hoko Exploration, in 1979, and has been active in the markets for the past 37 years. Technical analysis has helped him filter out the noise and focus on the when, and leave the why to the fundamental analysts. His proprietary trading models have enabled him to identify the NASDAQ top in 2000, the new gold bull market in 2001, the stock market top in … Continue reading

The Precious Metals Sector and the Fed. . .

Technical analyst Clive Maund reflects on how Federal Reserve statements may affect markets, and explains why he thinks the precious metals markets are due for a correction. While the Fed is almost powerless these days, as it has succeeded in “painting itself into a corner,” the markets still seem to think that its utterances are important and react, sometimes violently, to its apparent stance, or implied stance. For this reason we have to treat Fed statements as important, even though they really aren’t. Today we have the Fed making pronouncements and the markets can be expected to gyrate around and react as usual. In general they are not expected to “rock the boat.” Powerful vested interests—what may be described as the status quo—want Hillary Clinton as the next President, as she will serve as their marionette and do their bidding. Trump can talk a lot, but even if he gets … Continue reading

Pan Orient Energy’s Exploration Drilling Set to Commence Q4/16

Pan Orient Energy’s strong balance sheet puts it in position to begin drilling at East Jabung in Indonesia at the end of this year. Pan Orient Energy Corp. (POE:TSX.V) released second quarter results last week. President and CEO Jeff Chisholm provided an overview of operations, reporting that in Thailand “the second quarter of 2016 was focused on operating cost reductions and procurement/planning for an imminent four-well workover program and a fourth quarter 2016 exploration drilling program.” In Indonesia, Chisholm stated, “activity centered on completing the Batu Gajah PSC extension application, which was submitted just after quarter-end, and planning for an Akeh-1 hydrocarbon discovery appraisal well.” In Canada, Chisholm added, “reservoir modeling incorporating recent demonstration project well performance data was completed for the Sawn Lake Bluesky formation reservoir and this has formed the basis for an updated Sawn Lake contingent resources report that is currently underway and expected to be completed … Continue reading

Azure Minerals Strikes Silver and Gold in Mexico

Azure Minerals Ltd. (AZS:ASX), an Australian company developing two precious metal projects in Mexico, has caught the attention of a pair of analysts and the Mining Journal. Ngaire McDiarmid started his July 1 Mining Journal article on the company by writing: “As if opening a jewellery box, virtually everywhere Azure Minerals looks, it discovers silver, gold and base metals at its flagship Alacrán project in Mexico.” Describing Azure’s Mesa de Plata target at Alacrán, Warwick Grigor of Far East Capital noted in a July 12 research report that the deposit contains, “a 26 Moz silver resource at 84 gpt Ag, with a near surface high grade zone of 15 Moz at 220 gpt. The company is very confident that it will have a mine here with an engineer recently being appointed to carry out a feasibility study.” Grigor also wrote that Azure’s second target at Alacrán, Loma Bonita, offers additional … Continue reading

A Zombie Financial System, Black Swans and a Gold Share Correction

Bob Moriarty of 321Gold says that since the crash of 2008, the financial system has become a zombie, and he urges investors to pay attention to when they take some money off the table. The world’s financial system died in mid-September of 2008. Since then it has become something out of Night of the Living Dead, in other words, a zombie. Central banks around the world came up with an interesting new concept that you could somehow borrow and spend your way to prosperity. Great concept but it seems to have failed utterly. We have a zombie financial system now and the world owes more than at any point in history. Most governments are functionally bankrupt yet they want to borrow and spend more in the hopes that if it didn’t work before, maybe it will somehow work if they do more of it. Our grandchildren and their children are … Continue reading

Canadian Mining CEO Gives Back To Mexico

August 22, 2016 By: Dudley Pierce Baker http://JuniorMiningNews.com http://CommonStockWarrants.com     I have known Andrew Thomson from Toronto Ontario, Canada for several years having met him as CEO of Soltoro Ltd. which was then trading on the Toronto Venture Exchange, TSXV:SOL. Soltoro’s exploration properties were located in the State of Jalisco and the company was sold to Agnico Eagle Mines in June of 2015. Andrew having made some nice money on the transaction wanted to pay back his good fortune to some of those in need and August 3rd was that day. Andrew along with Agnico Eagle, Maxit Capital, corporate advisors to Soltoro, and Weir Foulds, legal counsel to Soltoro, funded the purchase of the wheelchairs. All agreed it would be more socially responsible to give something back to the local communities to celebrate the sale transaction. Over 40 wheelchairs were given away at the Hospital Civil in Guadalajara. Many hospital administrators and … Continue reading

Investing in the New Resource Bull Market

After four grinding years of falling metal prices and vanishing market capitalizations, we have seen a stunning shift in market sentiment since mid-January, says Matt Geiger of MJG Capital. Multiple physical commodities are now in technical bull markets, and resource equities in particular have enjoyed a spectacular 2016 thus far. Geiger highlights several companies poised to take advantage of the boom. Metal prices are again on the rise. Particular standouts include: silver, lithium, zinc, gold, platinum and palladium. All of the aforementioned metals have entered new technical bull markets in 2016 and seem to be building momentum. It took four painful years, but this proves yet again that low prices are the best cure for low prices. When the price of a particular commodity drops precipitously, two phenomenons inevitably occur: (i) higher cost suppliers of the commodity cut production and (ii) buyers of the commodity purchase more in real terms. … Continue reading

Novo Resources Aims for High-Grade Gold Trifecta

Bob Moriarty of 321 Gold, who has been following Novo Resources for four years, discusses the company’s three programs that are likely to gain investor attention. I’ve been writing about Novo Resources Corp. (NVO:TSX.V; NSRPF:OTCQX) for four years. I have visited the Western Australia flock of lands owned by them three times now. In the first piece I wrote I discussed Quinton Hennigh’s theory of how gold got into the Witwatersrand Basin. When the Wits was formed, all of the gold at surface was in solution in water, both salt and fresh. The chemical composition of water 2.7 billion years ago would dissolve any free gold. Water could contain between 4 ppb (parts per billion) and 40 ppb of gold. Today there is 1,000–10,000 times less gold dissolved in water, some 4 ppt (parts per trillion) in salt water. Where did the gold go? When single cell algae began to … Continue reading

Nailing the Bottom of Oil

Bob Moriarty points investors toward information that accurately captures movement in energy markets. On August 1st, we posted a link to an update on the energy and precious metals markets from James Flanagan of Gann Global. You owe it to yourself to go back and view it and see how he totally nailed the bottom in oil. We can provide links to really valuable and informative web sites for our readers but if you don’t use them and subscribe when you find something really good, neither you nor the vendor make any money. I don’t have a dog in the fight. I have no financial relationship with Gann Global in any way; I’d just like to see him keep nailing it and my readers to keep getting value from it. So one more time, here is a free update from Gann Global that will tell you what to expect in … Continue reading

Gold Ready to Correct

No bull market is sustainable on a nonstop price spike, says technical analyst Jack Chan, and he predicts the current gold bull market will soon correct, providing an good entry point. Our proprietary cycle indicator is down. We are short GLD with a tight stop. Our ratio finally sells this week. Summary A bull market in gold and silver has been confirmed, but no bull market is sustainable on a nonstop price spike, therefore, it is not if but when a correction will begin. Bull market corrections can be very sharp but short lived, therefore, the next cycle bottom could be an excellent entry point. Jack Chan is the editor of simply profits at www.simplyprofits.org, established in 2006. Chan bought his first mining stock, Hoko Exploration, in 1979, and has been active in the markets for the past 37 years. Technical analysis has helped him filter out the noise and … Continue reading