John Lee writes: About 2000 years ago, Aristotle explained why gold remained the ideal choice of money throughout major nations and civilizations. In words that are just as relevant today, he said "Gold is durable, not like wheat, divisible, not like diamonds, convenient, not like lead, constant, not like real estate, and best of all, [...]
We maintain our Neutral recommendation on Kinross Gold Corporation (NYSE:KGC), primarily involved in the exploration and operation of gold mines. Kinross currently ranks among the top 10 gold mining companies in the world, with a targeted production of 2 million oz of gold annually. The company is also engaged in producing and selling silver. Kinross [...]
Cusick’s CornerRisk assets, stocks, are quietly holding up while currency markets are weak. Gold traders, GLD traders, should consider looking to the currency trade to flag strength or weakness. This is a tough week to trade on technicals or fundamentals mostly because the larger players are off the desk. This is a market in which [...]
We maintain our Neutral recommendation on Barrick Gold Corporation (NYSE:ABX), the largest gold mining company in the world. The company has a portfolio of 25 operating mines with quite a number of advanced exploration and development projects located across four continents. Barrick Gold posted record third-quarter 2011 results driven by higher gold and copper prices [...]
Those of us who are buyers and believers in the long term continuing secular rise in resource equities are going through a time of testing. The marketplace will present participants with years such as 2011. We reiterate our guiding principles at precisely these times that tests our basic mission statement. First and foremost is the [...]
Talking Points Crude Oil Pressured by Risk Aversion But Chart Hints at Bounce Ahead Gold Taking Cues from US Dollar’s Response to Euro Crisis News Flow WTI Crude Oil (NY Close): $93.53 // -0.34 // -0.36% Crude oil prices are under pressure in European trade as Eurozone debt crisis jitters and the death of Kim [...]
This is one of those times that we have inveighed about so often. It is a typical “COM” week where markets are designed to confuse, obfuscate and misdirect the players. All thirty DOW stocks and commodities were down as Europe and Bernanke disappointed the markets with what they did not do. The markets were looking [...]
If you own stocks, you want gold and economically-sensitive silver to perform well. Weakness in precious metals is reflective of diminished concerns about future inflation and increasing concerns about deflation. The Fed, via money-printing exercises such as quantitative easing (QE), is attempting to “inflate away” the large debt burdens plaguing governments around the globe. The [...]
Talking Points Crude Oil Looks to EU Summit Outcome to Shape Outlook Gold Looks to US Dollar as Conduit for Sentiment Trends WTI Crude Oil (NY Close): $98.34 // -2.15 // -2.14% Crude prices tumbled yesterday after ECB President Mario Draghi set off an aggressive selloff across the spectrum of risky assets by saying the [...]
Thursday, December 8, 2011 Gold traders are looking to the equity markets and the ECB to help determine the near-term market direction. Volatility in terms of trading ranges as well as implied by option pricing has been falling lately, indicating that neither the bull nor bear camps have had the upper hand in trading. Additionally, [...]
We maintain our Neutral recommendation on Newmont Mining Corp. (NYSE:NEM), the world’s largest producers of gold with several active mines in Nevada, Peru, Australia/New Zealand, Indonesia and Ghana. Newmont Mining reported excellent third-quarter 2011 results with adjusted net income of $1.29 per share compared with last year’s $1.08, ahead of the Zacks Consensus Estimate at [...]
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