Strong underlying momentum in Precious MetalsMy 5-7 year outlook. Amazing fundamental and technical picture for precious metals and for the gold & silver mining companies
Goldminers
GDX - the beginning of the endThe GDX Gold Miners is one of my personal favourite, and I have had been following it closely over the last couple of years. Since August 2020, where 95% of position was cleared, there was hardly any sustainable long term rally, albeit the March to June 2021 rally that I actually missed. Since then, it pulled back, and is about to revisit the last major lows. This is the beginning of the end... as in, the bearishness is ending. Now, this could take months to pan out and perhaps about 5% downside risk to go.
The daily chart had prices at a lower range having gapped down early in the week. Unlike equities, the recovery was mild, if at all, with Friday gapping down instead. In the form of a megaphone, the range is now going to widen, but am expecting more downside to the target of about 31.50-32.00.
Technicals support the weakness, albeit not extremely weak... just not strong. Looking for a higher low, with MACD bullish divergence in the month to come. Would not be surprised if it breaks down of the megaphone and then breaks back in again to be super bullish.
Until then... I am sitting on my hands.
IAMGOLD CORPORATION - IAG - BULLISHIamgold Corporation is a Canadian company that owns and operates gold mines in Burkina Faso, Suriname and Canada.
Headquartered in Toronto, the company was founded in 1990 and went public on the Toronto Stock Exchange in 1996
with additional shares being listed on the New York Stock Exchange beginning in 2005
IAMGOLD is a mid-tier gold mining company operating in three regions globally: North America, South America and West Africa.
Within these regions the Company is developing high potential mining districts that encompass operating mines, construction,
development, and exploration projects. The Company’s operating mines include Westwood in Canada, Rosebel (including
Saramacca) in Suriname and Essakane in Burkina Faso. A solid base of strategic assets is complemented by the Côté Gold
construction project in Canada, the Boto Gold development project in Senegal, as well as greenfield and brownfield exploration
projects in various countries located in the Americas and West Africa.
IAMGOLD employs approximately 5,000 people. IAMGOLD is committed to maintaining its culture of accountable mining through
high standards of Environmental, Social and Governance ("ESG") practices, including its commitment to Zero Harm®
in every aspect of its business. IAMGOLD (www.iamgold.com) is listed on the New York Stock Exchange (NYSE:IAG)
and the Toronto Stock Exchange (TSX:IMG) and is one of the companies on the JSI index1
GOLD MINERS BACK IN BUSINESS - SUMMER
Institutional buying incoming.
No matter the price of gold companies will mine, turn a profit.
NYSE:IAG
TVC:GOLD
CURRENCYCOM:GOLD
OANDA:XAUUSD
FOREXCOM:XAUUSD
FX_IDC:XAUUSD
s2.q4cdn.com
s2.q4cdn.com
icrm.indigotools.com
To Gold(Fields) or not to Gold over the Shorter-term?This can turn out to be quite an important support level. A break lower can most probably test R125 again, with a break below R125 not looking healthy for Gold Fields (GFI). We are getting mighty close to a Death Cross, which I will be monitoring very closely. GFI however do find itself in EXTREME OVERSOLD (with the Gold price itself) according to its 14-day Moving Average (EMA), which could see a short-term recovery. Should the support level hold, could see GFI test 8-day EMA at R140.80 very quickly, with a break and close above these levels most probably bringing back the R150 resistance. My personal short-term target is R168, but as a long-term holder of the group, wont necessarily be selling at these levels. Still believe that the sky is the limit with GFI. Going for Gold (pun intended)!
Gold Sell UpdateGood day guys! This is just an update in regards to the position that my team and I are currently holding. In my previous chart, I highlighted how the technicals would be looking to create a rising wedge before continuing to the downside. As of today, the markets are revealing just that. With over 1200 pips and counting, we are still looking for the markets to continue to sell off, because the US government needs the value of gold to be lower for the dollar to strengthen. I mentioned this in my latter post as well, I believe this is going to be the final push to the down side before gold takes off to unprecedented levels before bottoming out. Understand this, Jay Powell and the Fed has come out this previous week to try to calm the markets, but verbally stating, "this is unsustainable." He was referring to the money machines going rapid and inflation moving to higher levels. I believe a top is looking to form in the stock market. This is not financial advice, for I am not a financial advisor registered with he SEC. I do believe in transparency. Therefore, I have began shifting my portfolio to the emerging markets, gold miners, commodities, etc. However, I have learned not to bet against the fed, for they can print whatever and the markets loves debt. We do appreciate you for checking out our post and remember, we will see you on the other side.
Rodrick (CEO)
Third Eye Traders
GDX Gold Miners Hard DropHave not been posting nor updating publicly... but private circle saw the recent run up, and my suspicion that it would not hold. Circles were target points that were "surprisingly" met. (I dont know how to post the snapshots here, but anyways...)
Then this last week saw that GDX cut right through a target level earlier than expected.
A new support target is set, but I still suspect that there is more to come.
Gap Downs are hard, and on very high volume.
This down move is exacerbated with a spiking USD, falling Gold prices and Equities at risk.
Not yet ripe. Wait for it.
First Majestic - Multiyear Breakout on Silver's Cult StockPrice is currently forming a pullback.
RSI and Stochastics are still bullish and in positive territory.
GDX : RESET / POSITION TRADE / HEDGEDuring the last three-month trading period, the VanEck Vectors Gold Miners ETF (GDX) has generated net inflows of 731.35 million. More importantly, we can see that the greatest selling pressures emerged after the Pfizer vaccine news was released on November 9th.
This suggests that the market is simply undergoing a temporary reaction to a news event and that further downside in GDX seems unlikely because any additional vaccine announcements would probably do little to change the underlying environment.
Moving out to an even longer-term view, we can see further evidence that these assertions are accurate because the VanEck Vectors Gold Miners ETF has actually generated net inflows of 2.37 billion during the last three years.
All together, these trend divergences tell us that investors might have an opportunity to profit from recent paradigm shifts in the precious metals markets. While this short-term enthusiasm might be moderately favorable for U.S. stock benchmarks into the end of 2020, we think that the prospects for economic deterioration during the first-quarter period of 2021 might be enough to send investors right back into safe-haven assets.
Ultimately, the VanEck Vectors Gold Miners ETF provides an alternative strategy for investors that are interested in moving deeper into the precious metals sector and its expense ratio of 0.52% remains near the middle of the range for the category as a whole.
SOURCE : INCOME GENERATOR, THE INCOME MACHINE / SEEKING ALPHA
seekingalpha.com
Short Gold Miner Gold/Gold miner likely to top soon
Setup a trade to short the gold miner (DUST if you use etf, or short option)
Entry price today, stop loss 5-7% for DUST.
Don't get me wrong this is just a pullback which afterwards I am still Long gold/silver/miners
New Gold Inc /Gold Miners / Investment Idea
Fundamental side of The Idea :
Miners continue to outperform gold.
This ratio is now confirming a prior breakout with authority and making higher lows since March.
While all eyes remain on Gold and crypto , this industry is climbing a wall of worry.
About the company
New Gold's balance sheet is looking better thanks to a high gold price. However, all-in sustaining costs are very high and reached $1,550 per ounce in Q1'21, with an AISC of $1,586 per ounce for Rainy River. It is a red flashing signal.
The issue here is the lack of diversity. The company is running two so-so gold mines and doesn't have any leverage if something bad happens. So far, the gold momentum is helping but it wont for soo long.
The reasonable solution is to trade the stock and keep only a small long-term position , The company is clearly undervalued . let say untill The price Reach 7/9 $ range .
Do Not hesitate to Contact me .
S.Sadki
My revised (corrected) Gold monthly chart to $2,600+I apologize for my previous chart. I failed to catch the error in time prior to publishing. Here's a revised chart for reference. As all charts, it's a work-in-progress :)
Gold - Road to $2500Here's a new take on the massive bowl everyone has been keeping an eye on. I'll be looking at the Bullish Channel for clues on Gold's path to $2,500+.
New wave count for Barrick Gold...I think it's a ABC wave structure. And sometimes if the downturn is bad enough wave C can extend so the $8.36 can't be rule out. Thanks for the view
Twenty Seven Co. volume spike ($TSC)Twenty Seven Co. (TSC.AX) is a gold mining company based in Australia. A quick tour of their home page will tell you about their various projects, but at a high level and probably most imporantantly: They own a huge swath of greenstone in Western Australia as well as an actual gold mine which shut down in the 1980's when prices were suppressed. The company has recently come back with stellar results and now a JORC is about to land. This is a quick overview to point you toward a nice price spike incoming.
Financial advice disclaimer in the signature.
Good luck.
Centamin (CEY.L) creating a huge cup and handle patternCup and handle pattern with long term upward trend in tact. I see this targetting a share price of 360p if this pattern holds true and a breakout occurs sometime in the next year.
Expecting last bearish waveBearish idea on SSRM gold mine. According to gold retracement the short is based on a potential third and last bearish movement to 10.30$ where the bullish movement started.
AEM. Looking for Gold miners? Agnico Eagle Mines is your pick!Agnico Eagle Mines ( NYSE:AEM ) is the gold mining company that I picked as a long-term investment over many other miners such as Equinox and Barrick Gold. I picked it based on which countries have USD Swap Lines , an idea explained by Katusa Research in one of his videos on YouTube. I will explain it briefly here. A USD swap line is an open channel between the US Federal Reserve and certain central banks such that the bank can borrow USD at any time almost instantly up to a certain limit (such as $100 billion dollars). This provides the liquidity necessary for those central banks to settle their balance sheets, loans, settle large money transfers and currency conversions, and do other central-bank-y things that you can read online. In practice, what this means is that it is much cheaper and much more reliable for, say, an American gold mining company to realize earnings from its oversees mining operations if those mines were located in Canada or Mexico (USD Swap line countries) rather than if the mines were located in Turkey for example.
You can find here the list of worldwide central banks that have USD Swap Lines, or I can save you time and list them here:
Before CV-19, the US Federal Reserve had standing USD liquidity swap lines with the central banks of the following countries with a ceiling of $100 billion each:
Canada.
England.
Japan.
European Union.
Switzerland.
And on March 20, 2020, the Federal Reserve extended this arrangement to nine more central banks:
$60 billion for each of:
Singapore.
Australia.
Brazil.
Denmark.
South Korea.
Mexico.
and $30 billion to each of:
New Zealand.
Norway.
Sweden.
As it happens, Agnico Eagle Mines has almost all of its revenue coming from mines located in USD Swap Line countries as opposed to Barrick gold which relies on mines located in Argentina, Chile, Cote d’Ivoire, the Congo, Peru, Saudi Arabia, Tanzania, and other similarly Non-USD-swap-line countries. That alone puts me at more ease of mind as an investor. And I recommend that you weigh in this element in all other kinds of investments.
That's it for fundamental analysis. From the technical analysis side, AEM has been struggling with the ascending trend line. I believe this will be long-time support once we settle above it. I see two paths for price which I determined by two things:
1. The long curve which you can see in the following chart:
2. The Linear time cycle of 272 days, which nicely aligned many momentum shifts. We can use as an approximate indicator next to other clues later when we're approaching the next time zone and are looking for signs of reversal or momentum.
The rest is in the chart. I drew two paths and I expect the lowest point to be the support at $55.60. I am more confident in the higher price path that takes us to $175 by April 2022.
Conclusion : This is a long-term investment for those that chose to invest in gold miners. I believe AEM is a solid pick and is set for growth.
XAU A lot of confluence here on the bottom trend line of my leading diagonal & the bottom trend line from the March 2020 lows, so much bearish sentiment in XAU currently & also $DXY seem about done with the push. On top of all that yields seem ready to drop, we could have a nice set up for XAU to at least retest the ATH's & breaking that opens the door for $2400.
Miners seem all about done & also they r so bloody wrecked that if I had extra $$$$ I would load up on those gold miner stocks IMO. Anyway just my thoughts guy always DYOR. Good Luck!
GDX... still in bear modeGDX... no change in trajectory - bearish.
Previously, called and exited near the top in August 2020 and expected this bearish tones.
Noted BRB Buy Signal triggered as well as the RPM attemping to turn bullish.
Otherwise, MACD is clearly heading down and GDX gapped down to break two support levels in one candle.
More downside seen, at least to 30. possible maximum stretch to 26.
