Interview with Kitco News: Forget GDXJ…

By Jordan Roy-Byrne CMT, MFTA Finding the right mining companies to invest in is not an easy task and that’s why newsletter writer Jordan Roy-Byrne says it is important to focus attention on a few things before making your picks. Speaking with Kitco News at the Precious Metals Summit, the mining analyst and publisher of the Daily Gold newsletter said he likes to invest more in individual miners instead of investing in exchange-traded funds like the GDX or GDXJ. Find out why. Click Here to Learn More About & Subscribe to our Premium Service …read more Source:: The Daily Gold The post Interview with Kitco News: Forget GDXJ… appeared first on Junior Mining Analyst. … Continue reading

More bad news for copper price

By analyst By Frik Els Copper futures trading on the Comex market in New York turned lower again on Thursday after indications that top consumer China will be well supplied with concentrate going in the the fourth quarter. Copper for delivery in December declined 1% to 2.92 a pound ($6,437 a tonne) in early afternoon trade. Earlier this month copper touched a three-year high just shy of $3.18 a pound (more than $7,000 a tonne). But disappointment about imports by China, rising stock levels at LME warehouses and fewer mine disruptions saw the rally come to a screeching halt. Today more bad news hit the market. In a sign that primary copper supply is far from tight, Chinese smelters just hiked their treatment and refining charges by as much as 10%. TC/RCs paid by mining companies to turn concentrate into metal are a good indication of conditions in the spot … Continue reading

QT1 Will Lead to QE4

By James Rickards This post QT1 Will Lead to QE4 appeared first on Daily Reckoning. There are only three members of the Board of Governors who matter: Janet Yellen, Stan Fischer and Lael Brainard. There is only one Regional Reserve Bank President who matters: Bill Dudley of New York. Yellen, Fischer, Brainard and Dudley are the “Big Four.” They are the only ones worth listening to. They call the shots. The don’t like dots. Everything else is noise. Here’s the model the Big Four actually use: 1. Raise rates 0.25% every March, June, September and December until rates reach 3.0% in late 2019. 2. Take a “pause” on rate hikes if one of three pause factors apply: disorderly asset price declines, jobs growth below 75,000 per month, or persistent disinflation. 3. Put balance sheet normalization on auto-pilot and let it run “on background.” Don’t use it as a policy tool. … Continue reading

“Experts” Completely Misread Fed Announcement

By James Rickards This post “Experts” Completely Misread Fed Announcement appeared first on Daily Reckoning. After nine years of unconventional quantitative easing (QE) policy the Federal Reserve announced yesterday that it is now setting out on a new path for quantitative tightening (QT), starting next month. QE was a policy of money printing. The Fed did this by buying bonds from the big banks. QT takes a different approach. The Fed will now allow the old bonds to mature, while not buying new ones from the banks. That way the money will shrink the balance sheets ahead of any potential crisis. But what can we learn about interest rates from yesterday’s announcement? On that score, the markets and the experts have misread the Fed again. The expert consensus was almost unanimous that the Fed had sent a hawkish message and that a December rate hike was “still on the table.” … Continue reading

Daily Market Wrap – Thu 21 Sep, 2017

By Cory Trader Vic – Comments on the Fed double speak and market reactions Trader Vic is always great to have on the show and this interview is no different. We get his comments on the recent Fed statement and how the markets reacted. Also what he expects for any upcoming tax policy announcements from Trump and the GOP. Trader Vic lays out why he thinks people should be doing with their money in a more long term sense if they have gains in the US markets. Download audio file (2017_09_21-Market-Wrap-Trader-Vic.mp3) …read more Source:: The Korelin Economics Report The post Daily Market Wrap – Thu 21 Sep, 2017 appeared first on Junior Mining Analyst. … Continue reading

Iron ore price craters

By analyst By Frik Els The decline in the price of iron ore over the past two weeks turned into a rout on Thursday as worries about new supply combined with fears that Chinese steel production may have peaked. The Steel Index benchmark price for Northern China 62% Fe ore sank by 7.4% to trade at $63.00 a tonne on Thursday, an 11-week low. Year-to-date iron ore has lost 20.8% of its value. Lower grades came in for greater punishment ith 58% Fe fines delivered to the port of Qinqdao falling 13.7% to $44.10 according to TSI. Chinese imports constitute around 70% of the seaborne trade and while 2017 shipments are in line with record imports of over 1 billion tonnes last year, supply continues to grow particularly from major producers in Australia and Brazil. A new report from BMI Research forecasts modest growth in global output over the next … Continue reading

Company News – Thu 21 Sep, 2017

By Cory 2 Recent News Releases From Novo Resources When I was at the Beaver Creek conference Novo Resources released news on Monday and again today. Below are links to both releases. As a general recap, the news on Monday was regarding a deal with an Australian exploration company, Calidus Resources. Calidus will have the right to earn a 70% interest in s0me Novo tenements that surround the Calidus Warrawoona project in Western Australia. The details are outlined in the release. Overall, this is a deal on a project that Novo is not focusing on and will now have another company spending it’s money to further explore. Click here to read the full Monday news release. The news today is the approval of the Plan of Work application for the Karratha Gold Project. We have discussed at length the exploration plans that Novo will be undertaking and this is the … Continue reading

Rio Tinto is buying another $2.5 billion of its own shares

By analyst By MINING.com Editor Amid general weakness for mining stocks on Thursday, Rio Tinto managed to eke out modest gains in New York trading. Investors poured money into the world’s second largest miner on news that the Melbourne-based giant plans to buy back an additional $2.5 billion worth of its own shares. This brings the total amount this year up to $4 billion. Previous announcements for buy backs were made in February and August. Rio Tinto is embarking on the share buy back after the $2.69 billion sale of a number of coal interests that it approved to China-backed Yancoal in June. Some shareholders at that time had called for the money to be used for buy back shares or to increase dividends. The post Rio Tinto is buying another $2.5 billion of its own shares appeared first on MINING.com. …read more Source:: Infomine The post Rio Tinto is … Continue reading

Is JPMorgan Chase Stock Undervalued or Overvalued Before Earnings?

By Rob Otman JPMorgan Chase (NYSE: JPM) is a $333 billion company today. Investors that bought shares one year ago are sitting on a 45.77% total return. That’s above the S&P 500’s return of 19.66%. JPMorgan Chase stock is beating the market, and it reports earnings soon. But does that make it a good buy today? To answer this question, we’ve turned to the Investment U Stock Grader. Our Research Team built this system to diagnose the financial health of a company. Our system looks at six key metrics… [iu-adbox] ✓ Earnings-per-Share (EPS) Growth: JPMorgan Chase reported a recent EPS growth rate of 17.31%. That’s above the banking industry average of 14.38%. That’s a great sign. JPMorgan Chase’s earnings growth is outpacing that of its competitors. ✓ Price-to-Earnings (P/E): The average price-to-earnings ratio of the banking industry is 22.04. And JPMorgan Chase’s ratio comes in at 13.83. It’s trading at … Continue reading

Chris Temple from The National Investor – Thu 21 Sep, 2017

By Cory What the markets are telling us for the dollar, gold and base metals I always find the days after the Fed and other central bank statements the most interesting. It takes the noise out of the short term moves we see right before and after the statements. In today’s call with Chris Temple we look at the moves in the dollar, gold, and base metals. Click here to visit Chris’s website. Download audio file (2017_09_21-Chris-Temple.mp3) …read more Source:: The Korelin Economics Report The post Chris Temple from The National Investor – Thu 21 Sep, 2017 appeared first on Junior Mining Analyst. … Continue reading