This stock is clearly breaking down yet everyone chooses to ignore it. All you need to do is look at the never ending cash drain this company puts its shareholders through and yet everyone continues to believe the change is just around the corner. They couldn't even issue more shares the last go around and went right back to the bank who they have to pay high interest rates. The same bank they were congratulating themselves because they paid off the high interest debt last September. If you keep drinking the Koolaid you get what you deserve. Look I believed in this stock for awhile too but after watching this management team and their tactics, it is obvious they have no regard for shareholders. You all would be better served with another small cap gold stock. The others have held up much better.
Bitcoin now at $2400, up 150% for the year. That pretty much says where gold would be without the never ending daily manipulation keeping it pegged at $1250.
Golden Star confident Prestea is launch pad for 300,000 oz/year
The Dollar index is now pretty much approaching election night lows of last year when gold was well over 1300. Gold is currently struggling to hold 1250 thanks in no small part to paper manipulation keeping it pegged. It's maddening to witness gold getting slammed with the slightest hint of a rising Dollar but, never recover it's loses when the Dollar crashes back down, way back down. TPTB must be reveling in the double whammy of the GDXJ negligence mess, still reeking havoc with miners...by the way where are the lawsuits for GDXJ's incompetency, failing in their fiduciary duty towards their shareholders.
Predicting a big move tomorrow. Golden Cross on the 30-minute chart just about there. Another day or so before we see Golden Cross on the 1-hour. Also, the Daily is VERY close to diverging the opposite direction.... algos will not let this happen and will intern hike before hand to move the the EMAs. Im calling high .70s or 80s tomorrow
My buy order was finally filled today at .64.. I put another one in at .47 and am using a .26 stop loss.
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"FOMC Minutes Signal Rate-Hike "Soon", Economic Weakness "Transitory"
If you and me were to front run the markets like this, we would be in prison!
http://www.kitco.com/news/2017-05-22/Gold-Silver-Precious-Metals-Daily-News-Briefs.html Citi: China’s Impact On Gold Market Likely To Grow Allen Sykora Allen Sykora Monday May 22, 2017 08:46 Kitco News As the largest buyer of physical gold, China’s influence on global price discovery seems likely to increase, says Citi. Shanghai still holds a prominent position as the largest gold futures market outside of the U.S., despite a reduction in Shanghai Futures Exchange volume for the year to date to around 450 million ounces, Citi says. By comparison, New-York based Comex gold volume has grown 15% year-on-year to around 2.1 billion ounces. “Hence, while market participants continue to reference the LBMA 3 p.m. close and spot gold prices (both in $/oz), Shanghai prices (RMB/g) should eventually play an increasingly important role,” Citi says. Analysts later add, “we could see London 10 a.m. prices, in particular, derive more market sentiment from China over the mid-term.”
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Editor's Note: Veteran trader Todd "Bubba" Horwitz will be bringing his insights and tell-it-like it is attitude to Kitco News every morning as part of a guest series on kitco.com. Wake up to Bubba and get what you need for your metal mornings!
(Kitco News) - For weeks, markets have ignored all of the rumors and innuendo coming from the White House, as a result gold had been under moderate pressure and equities only knew how to go up. Late Tuesday afternoon all of that changed as another President Trump story came out on what he said or didn’t say to ex FBI director Comey.
Equities immediately soldoff while gold and silver took off to the upside. Gold got as high as 1249 and silver as high as 16.89. Our contention all along was the next big sell off in equities and rally in the metals would come out of nowhere, could this be that event? By Todd 'Bubba' Horwitz
Royal Gold's stock price appreciation the last couple of day's has been impressive. Check out the transcript of the conference call posted yesterday afternoon. Notice how our Wassa and Prestea's contribution are hailed as MAJOR reasons for their record profits last Quarter!!! HELLO people!! CEO Tony Jensen comments on the 38 properties around the globe that they are working on. He highlights 4 as being the main revenue source for their RECORD EARNINGS! Half of the 4 are our Wassa and Prestea. Very comforting to see they are doing so well with their little piece of our gold mine. Golden Stars management team needs a nice pat on the back. Carry on Sam. We will be just fine. God bless, Bill.
Exclusive to Kitco News, technical analyst Gary Wagner provides a daily recap of what happened in the gold market, highlighting important events that captured investors' attention during the U.S. trading session. Wagner's commentary features a mix of