Markets Roiled as Britain Votes Itself Out of EU

Britain has voted to exit the European Union and its prime minister has resigned in the wake of the Brexit vote. The markets have, so far, reflected the world’s uneasy reaction to the event. But it is early days, says newsletter writer and technical analyst Clive Maund, who offers his views on the day after Brexit. Woke up to the stunning news this morning that Britain has voted by a narrow but clear majority to leave the European Union (EU). I had feared that the British electorate would be cowed into submission by the barrage of pro-Europe propaganda and scaremongering, like the Scots were at the time of the Scottish independence referendum, but they weren’t—or at least sufficient of them weren’t to assure a positive result. Nevertheless, 48% still voted to stay in, which shows you how many gullible idiots there are out there—they are either that or in some … Continue reading

Markets Roiled as Britain Votes Itself Out of EU

Britain has voted to exit the European Union and its prime minister has resigned in the wake of the Brexit vote. The markets have, so far, reflected the world’s uneasy reaction to the event. But it is early days, says newsletter writer and technical analyst Clive Maund, who offers his views on the day after Brexit. Woke up to the stunning news this morning that Britain has voted by a narrow but clear majority to leave the European Union (EU). I had feared that the British electorate would be cowed into submission by the barrage of pro-Europe propaganda and scaremongering, like the Scots were at the time of the Scottish independence referendum, but they weren’t—or at least sufficient of them weren’t to assure a positive result. Nevertheless, 48% still voted to stay in, which shows you how many gullible idiots there are out there—they are either that or in some … Continue reading

Potential of High-Grade Gold Deposits Draws Adamera to Washington

Washington State has seen substantial historical gold mining dating back to the 1890s, but that doesn’t mean there still isn’t gold to be mined. Mark Kolebaba, CEO of Adamera Minerals, extols the advantages of exploring in Washington and explains why it offers low-cost opportunities. The Gold Report: Thank you for joining us, Mark. Can you give us a little introduction to Adamera Minerals Corp. (ADZ:TSX.V)? Mark Kolebaba: Sure. Adamera Minerals is 100% focused on exploring for gold in Washington State. This is an area known for high-grade gold deposits that has been relatively underexplored for 25 years. We have been here for three and half years and have developed a compelling land position. Washington State is a safe and easy jurisdiction to work in. Given our focus solely in Washington State, we have developed an unparalleled understanding of the region from staking, permitting and geology. We are excited to be … Continue reading

Klondex Finds Growth Opportunity in True North

Klondex Mines Ltd. released an update on the company’s exploration and project development activities at its True North Gold mine, which was formerly known as the Rice Lake mine, in Manitoba, Canada. The company acquired the Canadian asset in January 2016. Klondex Mines Ltd. (KDX:TSX; KLDX:NYSE.MKT) reported that project development activities continue to advance and are on schedule and within budget. The company expects to release a mineral resource update by the end of the third quarter and to make a production decision after that. Jamie Spratt, an analyst with Clarus Securities, in his June 16 research report, notes that Klondex “offers a unique mix of low-cost production, internally fundable production growth and credible management.” The long-hole stoping test program is “giving positive results with two long hole test stopes completed to date in the Cohiba zone.” The True North project is expected to recover between 8,000 and 12,000 ounces … Continue reading

How the Brexit Vote Will Affect the Markets

Regardless the outcome of the Brexit vote, the European Union is failing, according to newsletter writer and technical analyst Clive Maund. The consequences will likely include a soaring dollar and a falling euro, market volatility and a slide in the prices of some commodities, but Maund has identified ways investors can profit from the chaos. With the Brexit vote underway, we can expect to see big volatility in markets immediately following it, and possibly even before it, if the market thinks it has got wind of the outcome ahead of the final count. If Britain votes to leave the European Union, the presumption is that the euro will drop hard, because this would be a big prominent nail in the coffin of the failing Union. And because the euro comprises about 57% of the dollar index, we can expect it to soar. If Britain votes to stay in, the outcome … Continue reading

How the Brexit Vote Will Affect the Markets

Regardless the outcome of the Brexit vote, the European Union is failing, according to newsletter writer and technical analyst Clive Maund. The consequences will likely include a soaring dollar and a falling euro, market volatility and a slide in the prices of some commodities, but Maund has identified ways investors can profit from the chaos. With the Brexit vote underway, we can expect to see big volatility in markets immediately following it, and possibly even before it, if the market thinks it has got wind of the outcome ahead of the final count. If Britain votes to leave the European Union, the presumption is that the euro will drop hard, because this would be a big prominent nail in the coffin of the failing Union. And because the euro comprises about 57% of the dollar index, we can expect it to soar. If Britain votes to stay in, the outcome … Continue reading

Are Copper and China Set to Rally?

Technical analyst and newsletter writer Clive Maund explores the link between an anticipated copper rally and an upswing in Chinese markets. In marked contrast to gold, copper looks to be set up for a sizable rally here. On its one-year chart we can see that after its significant drop during May and early June, it is down on an important support level that is certainly capable of generating a rally, despite its still bearishly aligned moving averages… The chances of copper rallying soon are greatly magnified by its latest COTs, which show that the Commercials are now heavily long, while the normally wrong Large Specs are heavily short—this is the setup for a rally, and one reason for selecting a one-year time frame for the copper chart above is so that you can compare past peaks and troughs with the readings on the COT chart, which also goes back a … Continue reading

Will Brexit Vote Push US Dollar One Way or the Other?

With both gold and silver ETFs trading in heavy volumes last week, technical analyst Jack Chan suspects liquidation is occurring, and speculates that the upcoming Brexit vote could impact the U.S. dollar. The gold ETF produced an outside reversal this week on very heavy volume, suggesting liquidation. The silver ETF also furnished an outside reversal on very heavy volume. USD is bound by support and resistance and is destined to break one way or the other soon. SummaryMuch will depend on the dollar, as the Fed’s announcement this week did not cause a break one way or the other. Perhaps Brexit will next week. The outside reversals on GLD and SLV were on very heavy volume, and that suggests liquidation. Caution is advised. Jack Chan is the editor of simply profits at www.simplyprofits.org, established in 2006. Jack bought his first mining stock, Hoko exploration in 1979, and has been active … Continue reading

Oil Prices Send Sell Signal

Technical analyst Jack Chan believes a correction is oil prices is underway, and advises investors to use caution in a vulnerable market. Our proprietary indicator has turned down from multiple divergences this week. Oil stocks as represented by $OSX remains on a major sell signal, which is now two years old. Crude oil triggered a sell signal this week, suggesting a correction is in progress. COT data indicates that speculators continue to liquidate, suggesting lower prices overall going forward. SummaryIndicators are down and the oil and energy sector is vulnerable with a multiweek correction. Caution is advised. Jack Chan is the editor of simply profits at www.simplyprofits.org, established in 2006. Jack bought his first mining stock, Hoko exploration in 1979, and has been active in the markets for the past thirty seven years. Technical analysis has helped him filtering out the noise and focusing on the when, and leave the … Continue reading

Is It Time to Dump Gold and Buy Platinum?

Bob Moriarty explains why precious metals investors may want to look beyond gold to a commodity with a long history and an interesting relationship to the yellow metal. I wrote a book a couple of months ago about some of the basics of investing. The book has done well and it seems to have struck a cord with readers. In the book I try to explain that by listening to the “Experts” investors are doing themselves a disservice. When the “Experts” get it dead wrong, they don’t pay, you do. So why not take some responsibility for your own investment decisions? The Gurus don’t care if you make money; they only care if they make money. Much of what you hear is noise designed to match your fantasies. If you dream at night of gold going to $10,000 an ounce, you can listen to Jim Rickards. And maybe he’s right. … Continue reading