Oil prices fell heavily. Gold's under pressure, and iron ore prices are off their highs. Is this a standard correction for commodity markets, or is the fledging bull market about to come to an end?
Resolute Mining Ltd [ASX:RSG] is a gold miner operating mines in Africa and Australia. This morning, RSG dropped 6.69%, to a low of $1.25.
Now in the first week of March 2017, one single bitcoin has been consistently trading higher than the spot price of an ounce of physical gold. One bitcoin is now worth US$1,278. On ounce of gold is worth US$1,229.
Today I’m going to take a look at the gold price. It’s dropped off the radar a bit lately, despite the yellow metal having a pretty good run so far in 2017.
Shares of St Barbara Ltd [ASX:SBM] gained more than 5% today as the stock continues to rebound from a recent slump. It closed at $2.64. It’s now up 70% for the year.
The good news is that most Aussie gold stocks are financially-sound companies. They have little to no debt and lots of cash, thanks to a strong Aussie dollar gold price, which translates into strong cash flows.
The only way to stop this trend without causing a major crisis is to bring gold back into the system as an official measure of value.
Ice-Nine is a freeze of the financial system. It’s something that’s happened before, and it’ll happen again in the next crisis.
If stocks rally in the fortnight ahead, look to go short. If gold pulls back, there could be a great short-term buying opportunity.
In The Road to Ruin, Jim Rickards outlines exactly what the elites are going to do, and how they are going to do it. And this isn’t some vague time in the future.