Friday, 28 June 2013

The Forces That Will Drive the Next Bull Market in Gold and Silver - Larry Edelson

Edelson has been a long term gold bull but rightly very bearish since 2011 expecting a "normal" 2 year correction of the long bull run, he took criticism in 2011 for becoming bearish ahead of the top.
He puts forward a strong case for the key drivers of the bull going forwards and suggests some new correlations. He suggests that war cycles are a key driver going forwards. Money printing will be less significant as the financial holes are so large they cannot be filled and that realisation, and defaults and bail ins, will drive the flight to safety. He sees inflation is some way off, 2015-6,  but the hoarding of supply will drive prices up in precious metals.
Linked - HERE

In other recent articles he has looked to find major support  at $1028 - HERE

Pierre Lassonde Calls for a 50% rebound in the Miners

One of the most respected leaders in the Gold Mining Industry, Pierre Lassonde, suggests we are within 5% of the bottom and suggests a big bounce into September - See Link HERE
“So my feeling is we are seeing the maximum stress right now.  I think $1,200, plus or minus $30 is where you are going to see the bottom in gold.”.............. I started buying this week.  I think there are a number of gold equities that are absolute bargains.  The liquidity trap has forced a lot of funds to sell.  But money is still leaving the sector.  That’s one of the reasons you are seeing this amount of stress. But I am absolutely 100% convinced that come September gold is going to be 20% to 30% higher than it is today and the stocks are going to be 50% higher.  So what am I doing?  Yes, now is the time to put money to work and that’s what I’m doing.”

Mike Shedlock Buys Basket of Large Gold & Silver Miners

Mike Shedlock is a prolific financial commentator with a deflationist perspective. However he has long had a constructive view on gold during deflation. He notes a recent  "significant" investment in gold and silver miners where he states
I believe precious metal miners represent true value, but I cannot state when the market will come to the same conclusion.
Full details - HERE

Also points to "Acting Man" discussing the "Plague of Gold Bears" - HERE
It is really quite remarkable: for ten years while gold did nothing but go up, most of these these guys were largely silent. Their gold price forecasts were on average dead wrong with unwavering regularity - they kept predicting price declines. Then, as it approached its peak, they suddenly turned bullish and finally raised their price targets (again, on average). Now that it is going through the first major correction since the bull market began, its decline is accompanied by inordinate sound and fury. No other market has produced such a flurry of widely and loudly telegraphed grave dancing.

The Formation of the Gold Price - Robert Blumen

A detailed discussion of gold price drivers

Ronald-Peter Stoeferle - 2013 - In Gold we Trust

The latest in a series of wide ranging reviews of the gold market by Stoeferle. - Linked  HERE

Sunday, 16 June 2013

Funds - Opening and Closing

As one fund closes due to redemptions - Taurus Funds in Australia - HERE
Another suggests it's time to invest - Vulpes Investment out of Singapore under previous Artradis traders - HERE
“At no time in the past 12 years, realistically, have I seen the broader macro picture line up more positively in favor of rising gold prices,” Williams said March 5. “Right now, the perception is we don’t need the protection that gold offers. My contention is the risks essentially have never been higher.”  Vulpes founder Diggle was once Singapore’s biggest hedge- fund manager at Artradis Fund Management Pte, where he made $2.7 billion for investors during 2007 and 2008. Williams also worked with
him at Artradis. 

Saturday, 1 June 2013

Junior Gold M&A - New Gold to Acquire Rainy River

New Gold's offer for Rainy River (News - Link - in full pasted below) saw a 35% jump in price yesterday, however only recent buyers, or those from many years ago, will be making an immediate profit. The deal is a variable mix of cash and stock valued at approximately $310m net of RR's $90m cash.  ....more.......