Category Archives: Precious Metals

Lamphier: Direct threat to Canadian economy posed by U.S. shale oil production at the Edmonton Journal . The Bakken profiled at National Geographic . Chevron: The World’s Biggest Gusher at Forbes . Oil Services And Equipment ETFs Pump Out…

Global Investment Returns Yearbook 2013 by Credit Suisse . Why is US Oil Consumption Lower? Better Gasoline Mileage? at TOD . The unsaid answer in the excellent piece is price. Meanwhile, Chinese oil imports are going the opposite…

Gold Miners Are Just Doing What Miners Do by Toby Connor . ISA typically avoids the promotional, but the essay makes a super bullish case. Note the precious metal complex was higher in Monday’s down stock market… A look at our place in the…

According to Macquarie Private Wealth The resource boom ended in 2011 already . The cliff notes are at Mining and the whole piece is at MPW. Think China… End of An Era: 30 Years of Double-Digit Chinese Growth at Saturna Capital . Yes, the…

Coal Stocks Grinding Higher at Next Big Trade . KOL, however, represents international coal and is a function of China. China’s Economy: The Coming Year at WSJ . Iron ore continues to shine at Mining . Coal’s share of global energy mix to…

Yesterday the PM complex was whacked on a White House rejection of a Boehner offer. Blah blah, whatever. I didn’t look, but I’m sure the conspiratorial goldbugs were screaming manipulation. But is a “High volume flushout with positive…

In honor of the Fed’s last meeting of it’s 99th year: The Lender of Last Resort: Lessons from the Fed’s First 100 Years at Ritholtz . I’m sure 2013 will see many a goldbug story detailing the century of currency destruction. A rippin’ gold…

Conspiratorial precious metal bloggers were taken on by Kid Dynamite. Meanwhile, while those guys argue how many angels can dance on the head of a pin, Fed’s Evans Urges Near-Zero Rates Until 6.5% Jobless as “Evans’ shift today underscores…

The best stuff you’ll see all weekend: The History of Gold Charts : Peter Brandt . An in-depth big picture look by Grant Williams .. Re-post: Print and read sixty two page of goodness from Peter Degraaf . This will not print without a…

Citigroup- Commodities Super-Cycle is Now Over at Trading Journal of an Investment Junkie . ISA is selective in its favorite commodities while expecting emerging markets to continue their advance. I hope to run across the full 120 page…

The Gold to Crude Oil Ratio is Getting Jiggy and looks to head much higher: Greg Harmon . “Gold is likely to move sharply upwards should Barack Obama be given a second term in office, analysts say…a Romney win would result in a knee-jerk…

The precious metals complex is outperforming today and may be set to rally. Is Santa Coming Early for Gold & Gold Mining Stocks? Chris Vermeulen “Continuing problems in the U.S. economy suggest that the Federal Reserve may not be providing…

I was away from the computer screen during the Friday market drubbing, but you can be sure I noted the gold stocks (and UPL) were flat on the day. Perhaps the title of this worthwhile essay should have been “ Buy Gold “: Will central banks…

Tomorrow afternoon ISA will take an extensive look at the coal and natural gas thesis, including a favorite investment possibility. As the the precious metals complex works off an overbought condition with time, here is a deep look: GOLD –…

Durable goods orders have slowed and second quarter GDP was revised to a pathetic 1.3% growth rate. Yet Two Reasons to expect Economic Growth to Increase ( Calculated Risk ) includes housing . “All the while, the market continues to grind…

ISA has always been negative the European economy. Our bearish emerging market posture is more recent, yet when China becomes serious about fiscal stimulus will we look to be heavily involved in the materials stocks. Until then, we’ll…

Following two days of trading lower, the precious metals complex opened sharply down today before rebounding to this point. Chess’s take this morning. “Chicago Federal Reserve Bank President Charles Evans on Tuesday reiterated his support…

The Economy Is Slowing?? Railroads Apparently Did not Get The Memo at Value Plays . I get it, the U.S. economy is moving along at an okay pace. Regarding the current stimulus, Fed head Lockhart said “If we do not see improvement, more…

How much is $40 billion a month? Try $128.20 per US citizen. With my family of three, perhaps the Fed could have the Treasury send a $385.12 check every month instead. Remember the extension of operation twist ? (How can one not giggle?)…

Silver is both an industrial and monetary metal. Silver spends life as a stepchild, both in mining production and commercial use. Of all silver mined, 73% is as a byproduct of other metals. (Thus Silver Wheaton was born!) On the demand…

Question: What is more bullish than continuous money printing? Answer: An ever increasing rate of money printing! Here the history of bringing NGDP to the mainstream blogosphere: Economist . NGDP will be the next step. What is NGDP? WSJ…

Would you kiss a raging bull on the lips? I was considering being active with my trading position in precious metals when some certain price targets were met ( Daily Gold ), which fits well with gold forming a cup ( Jesse ) and possible…

The money quote from the Fed : “purchasing additional agency mortgage-backed securities at a pace of $40 billion per month… If the outlook for the labor market does not improve substantially, the Committee will continue its purchases of…

Perhaps this title does not mean much to you: George Soros endorses 5% NGDP target ( Money Illusion ). Next consider negative real interest rates as a a sign of the times ( Iacono Research ). NGDP stands for nominal gross domestic product…

China’s targeted infrastructure investment announcement in itself is underwhelming. Building 1254 miles of roads is not going to turn around the base metal and material sector. However, if this is a down payment the story has shifted. ISA…

In 2011 U.S. government unfunded liabilities grew by $11 trillion ( Bloomberg ). Political promises are never retracted; instead the default will be papered over through debasement. Don Coxe on gold in the Gold Report . The title on one of…

One mainstream journalist at a leading publication asks: “ Why has gold lost its shine? This precious metal has fallen in value and analysts are puzzled” at the Guardian . Meanwhile, the gold bug community is downright giddy short term…

Since inception, Independent Stock Analysis has closely monitored the precious metal markets. The bottoming out of the sector and recent breakout calls have been noted. Until China re-accelerates, which is not expected soon, consider the…

This spring and summer ISA monitored the gold stock double bottom. For the last six we have been noting and waiting for a gold breakout. It happened this week. Gold, Silver ETFs Screaming Buys: Asset Managers at IBD . Gold future traders…

Long-Term Technical Outlook for Gold & Silver at Daily Gold . Gold’s performance in stock bear markets: Zeal . China and India account for half of world wide gold demand: Frank Holmes . So could “ China’s problems be gold’s problems” at…

Paulson Steps Up Gold Bet to 44% of Firm’s Equity Assets at Bloomberg . George Soros more than doubled his GLD position to $137.3 million in Q2 ( Zero Hedge ). Meanwhile, the S&P 500 has clobbered gold stocks ( chart ). Which Way Will the…

One hundred twenty pages of gold fundamentals and charts: Erste Research . It’ll all be papered over, including Japan’s problems: Sober Look . The government debt maturity outlook has deteriorated significantly over the last two years…

I look for the public pension problems to get papered over later this decade: WSJ . Practically speaking, central bank cooperating means easy policy at a faster pace. WSJ As states and city’s go bankrupt ( Mish ), remember gold is no one’s…

Note this chart of credit adjusted gold from Real Return Investing at Ritholtz . This piece might be the most worthwhile read of the week. UBS warns of possible hyperinflation: Zero Hedge “On Thursday, gold futures recorded a negative…

Richard Russell at King World News . The world has seen $18 trillion in monetary stimulus and certainly more than that in fiscal stimulus since the financial crisis at Testosterone Pit . And it’s never enough, as the economy rolls over via…

I do believe the safe route to profit from the gold exploration cycle is Franco-Nevada. FNV has a deep portfolio of royalty rights and the cash to invest in additional juniors prospects at favorable prices. Junior Gold Exploration at Zeal…

Gold Stock Valuations at Zeal . Note the deflationary period in Weimar marks relating to gold: Casey Research . About this gold consolidation since last August: Kimble Charting Solutions . A forty year silver chart with its recent…

Ridiculousness continues: Multi-trillion plan to save the eurozone being prepared at The Telegraph . State pensions will be papered over imo: Financial Sense . Fleckenstein – Fed Takes Half Step, Will Be Forced to Act Again at King World…

Seems a binary event will occur on Wednesday with the FOMC meeting. Expectations are for more easing, the degree of which is very unknown. The rally over the last week shows dovish expectations; the precious metals complex today is quite…

Mine building delays and cost overruns plaque the industry, though Yamana has consistently got it done. Yamana bids $400-million for Extorre; plans 18% dividend boost at Globe and Mail . FNV holds the Taca Taca royalty. Perhaps TCK is…

Endless QE? $6 trillion and counting Reuters Easing Seems Likely, But of What Form? Financial Sense One British central banker say bond buying should be expanded: Bank of England should buy company loans at Reuters . Re-reading Bernanke’s…

All roads in Europe lead to gold: Chris Martenson . Bernanke and the data disappointed the goldbugs at Global Macro Monitor , but Gold reversed higher on Friday at Daily Gold . Have Gold, Silver, and Mining Stocks Bottomed? Minyanville…

On Wednesday my daughter received a $100 bill from my folks as a gift for her second birthday. The note read, in part: “Have your mom or dad put this your bank account so it can grow just like you.” Two observations are striking: I’m…

Last night Australian rates were cut to 3.5% on China concerns, shares rallied as more cuts are expected. The Australian This morning the Bank of Canada held rates steady at 1%. Financial Post Time for the Draghi and Bernanke puts? Humble…

After the gold stock 900 basis point out performance last Friday, what’s another 150 between friends? “Friday was the confirmation of the bear trap.” Peter Brandt David Einhorn Mocks Warren Buffet’s Stance on Gold: Wall St. Cheat Sheet…

Yesterday the gold equities outperformed the S&P 500 by over 900 basis points . The stock market was clobbered and the precious metal complex spiked and then continued to rally. The drivers were the some poor overseas economic reports…

Dow:Gold ratio at Chart of the Day . All or nothing days on the rise: Bespoke . We, of course, know this to be a function of oscillating opinion regarding default or debasement of the credit bubble. To goldbugs the Big Print is a foregone…

Gigantic pennant: JSmineset . An inverse head and shoulders breakout from Porter Stansberry . Official breakout via Jeff Clark . European weakness ( Sober Look ) will begat money printing. Easing options from Zerohedge . But will policy…

First I wrote a Seeking Alpha article to suggest replacing bonds with an income equity security and I received push back from mainstream investors. So I wrote a second article on the barbell strategy as a means to replace bonds without…

Over the last three weeks blog postings here at Independent Stock Analysis have been coming at a rate of two or more every market day, plus one on Saturday. I am taking off Mother’s Day weekend for family time and a road race. Be sure to…

The mainstream media and blogosphere occasionally seem to begin to understand gold. Ed Yardeni at Business Insider : “More broadly, gold is a hedge against reckless fiscal and monetary policies.” Then he continues: “The dramatic…

A bottom for gold stocks? The group is down another 5% since this Humble Student of the Markets post. Jeff Saut on the great monetary symbolism and meaning in the yellow brick road. Following that nice read is his market commentary…

In a social democracy all roads lead to inflation. Last week was only Japan’s turn in the race to the depreciate. WSJ Rick Rule is not only sharp, he is articulate. His latest interview at Financial Sense . Will the mainstream ever notice…

Non-goldbug technician says big gold move coming. Peter Brandt Austrian economics goes mainstream and the timing problem. Business Insider The housing bubble and bust was just the largest symptom of the credit bubble. Meanwhile, I can…