Gold has traded between $1,323 and $1,336 so far today…as of 9:00 am Pacific, bullion is down $10 an ounce at $1,327…Silver is off 26 cents at $19.93…Copper is flat at $2.22…Crude Oil is 72 cents lower at $45.24 while the U.S. Dollar Index is relatively unchanged at 96.52…
Holdings in Gold-backed exchange-traded funds rose 1.45 metric tons 2,002.46 tons on Friday, according to data compiled by Bloomberg…
Money managers and speculators cut their record bullish bets in Gold for the first time in 5 weeks in the week to July 12, U.S. Commodity Futures Trading Commission data showed on Friday…
“Gold is the unprintable currency, unlike the yen,” said Itsuo Toshima, former regional manager for the World Gold Council in Tokyo…according to Bloomberg, Abenomics skeptics are selling the yen to buy this unprintable currency – Gold…individual investors drove a 60% jump in sales of the precious metal in June from May at Tanaka Holdings, the operator of Japan’s largest bullion retailer…
$1,500 Or Better In Gold By This Fall?
Gold is in a major bull market and may surge to more than $1,500 an ounce as low interest rates buoy demand and November’s U.S. elections loom, according to DBS Group Holdings, which foresaw this year’s reversal and is now advising investors to buy any declines. “Gold has seen 4 major bull markets since 1970: this is another one,” Benjamin Wong, foreign exchange strategist at the Singapore-based bank’s chief investment office wrote. “The market has yet to deal with the political uncertainty going into the November 8 presidential election.”
Casey On Gold
Longtime investor Doug Casey says he expects eventful, yet somewhat frightening, years ahead for markets and the U.S. economy…speaking with Kitco News on the sidelines of “Freedom Fest” in Las Vegas, Casey warned, “We’re on the cusp of the greater depression. I believe that this year, before this year is over, we’re going to enter the trailing edge of the storm, which is going to be really chaotic and much more different than what we had in 08–09. One of the characteristics of it is that there is going to be a panic into Gold,” he said…
Trouble In Turkey
Friday’s failed coup attempt in Turkey, such a strategically important country given its location and the size of its military, will ultimately prove bullish for Gold…under President Erdogan, an authoritarian thug who has no respect for democracy, NATO ally Turkey (how much longer will, or should, they remain a NATO ally?) is increasingly turning into an Islamist dictatorship right before the eyes of the current naïve U.S. administration…extremely alarming, to say the least…the lower level military personnel who rose up Friday to attempt a coup likely represented the last gasp of secular forces desperately trying to reverse what has occurred in recent years…unfortunately, Erdogan’s hand has only been strengthened as a result of the bloodshed and failed coup…he had already purged much of the military and the judiciary over the last 5 years or so, and now he’s finishing that task (thousands of people have been “rounded up” in the last few days)…
Erdogan is certainly not a true or reliable ally in the war against ISIS and radical Islamic terrorism, and the porousness of Turkey’s 500-mile border with Syria has become a huge problem for the West…journalists are also not safe in that country, which speaks volumes about the hideous Erdogan regime…according to a report published by the Committee to Protect Journalists (CPJ), Turkey’s press freedom situation has reached a crisis point as Turkish authorities continue to engage in widespread criminal prosecution and jailing of journalists while applying other forms of severe pressure to promote self-censorship in the press…
A key NATO ally, strategically straddling eastern Europe and western Asia with a population of 75 million, and just 500 miles north of Israel, evolving into an Islamist dictatorship – another “sign of the times” in this increasingly chaotic world…
CRB 2-Year Weekly Chart: Onward & Upward!
We can say with almost 100% certainty that commodities are going higher during the 2nd half of this year…not only are individual charts for the Venture, Gold, Silver and Oil indicating that, but this 2-year weekly chart for the CRB is a “picture of beauty”…
The CRB’s rise from its low of 155 in January has been slow and steady, featuring breakouts above long-term downtrend lines (price and RSI-14) and a push above some Fib. resistance levels as well as the 200-day moving average (SMA) which has flattened out at 179…we’ve seen a “Golden Cross” (the 50-day crossing above the 200-day) while the 200-day should also reverse soon (this quarter) to the upside…
Historically, in commodity bull markets, the Venture has always led the CRB higher…that’s what has occurred this time around as we’ll show in another chart in today’s Morning Musings…
In today’s Morning Musings…
1. A move of historic proportions in Silver is on the way…
2. Probe Metals (PRB, TSX-V) – David Palmer’s war chest and savvy will deliver success in the months ahead…
3. New addition to the BMR Top Opportunities List…
4. Daniel’s Den – when currency confetti begins raining from the sky…
Plus more…click here to read the rest of this article, and all BMR exclusive content, by taking advantage of our July Special, or login with your username and password.
ALSO…click here for a free BMR eAlert on a 9-cent junior ($2.3 million market cap) that’s set to SOAR on higher Silver prices.
Any fellow BMR’s attending the Sprott Symposium in Vancouver next week?
Comment by Dave2 — July 18, 2016 @ 10:13 am
https://news.vice.com/article/the-republican-convention-speaker-list-is-filled-with-d-list-celebrities-trumps-and-pro-athletes
Comment by Mmurphy — July 18, 2016 @ 10:16 am
Yes, Daniel will be there, Dave2.
Comment by BMR — July 18, 2016 @ 10:57 am
DVR to start trading on or around July 18 according to the last news release. Looking forward to that. ?
Comment by Ed — July 18, 2016 @ 11:02 am
Will you give a update when the tech stock will come trading any word on that would be appreciated.
Comment by Randy — July 18, 2016 @ 11:29 am
“Opening Day” for DVR on the CSE is tomorrow, July 19, Randy.
Comment by Jon - BMR — July 18, 2016 @ 11:36 am
Jon – how will the opening price for DVR be determined as such??? see some bonehead sold 7K of VGN at market.. like what people don’t know astounds me:)
Comment by Jeremy — July 18, 2016 @ 11:57 am
So would that be 6:30 Vancouver time – Thanks in advance.
Comment by Randy — July 18, 2016 @ 11:58 am
Jon
did you notice this in the NR from ABN this morning?
Aben intends to immediately initiate a comprehensive data compilation, bringing all historical work into a single GIS database. This work will be followed by fieldwork aimed at determining drill targets for a possible fall 2016 drilling campaign. Permitting for the drilling activity is currently underway.
Do you know how late they can drill up there, my concern is if they do not drill this year the stock price will fall due to lack of any news?
Comment by GREGH — July 18, 2016 @ 12:14 pm
Opening price will be determined by supply and demand, Jeremy…just depends what’s on the offer side and what’s on the bid side…I don’t see much being available on the offer considering the small public float, and the circumstances…
Comment by Jon - BMR — July 18, 2016 @ 12:16 pm
Jon
will you guys be able to report directly from the CXO tour on site? or will CXO have restrictions in place?
thanks
Comment by GREGH — July 18, 2016 @ 12:21 pm
Jeremy-regarding VGN-either stupidity or bordering mental retardation!!!!!
Comment by GregJ. — July 18, 2016 @ 12:27 pm
I was more wondering on what time it would start trading – I would need to trade a few things out and hoped the trading woulden’t start at 6.30 that was my question .
Thank you .
Comment by Randy — July 18, 2016 @ 12:35 pm
GregH – Based on my 12 years of diamond drilling, the general rule of thumb for fly supported drilling up there is early October – lower elevation targets maybe a bit longer. SKE might drill longer as their SNIP mine property has an airstrip – they can convert to skid drilling.
I would be more worried about getting the permits, the mines office is a wasteland during the summer months. Hopefully they got the ball rolling prior to school closing.
Comment by Mmurphy — July 18, 2016 @ 12:37 pm
Dave2 and Daniel – I am also planning to attend the Sprott Conference next week – shall we arrange a BMR cocktail hour on one of those days? I would be game for sure.
Comment by Rockman — July 18, 2016 @ 12:55 pm
interesting interveiw with Ron and Walter of Skeena on the Korelin Economics report weekend show will have permits to drill inhand first week of Aug.
Comment by kelly — July 18, 2016 @ 1:38 pm
Rockman
Sounds like a plan, I have a one on one booked with CXO on Tues. Would be interesting to compare notes.
Comment by dave2 — July 18, 2016 @ 1:38 pm
news out for Skeena today as well.
Comment by Mmurphy — July 18, 2016 @ 1:46 pm
Dave2 – Can I send you a private PM on this site or some other way we can get in direct contact?
Comment by Rockman — July 18, 2016 @ 2:12 pm
Devon, those doing there DD. on this company, i checked into Airinou, a French company doing the same thing in France, that has a connection with Parrot a company that makes high end drones , check out the link
hmirrorwall.com/parrot-drone-ventures-into-the-agricultural-industry/
its a wake up call to where this might be heading .
Comment by bigbear — July 18, 2016 @ 2:23 pm
Opps thats, Deveron
Comment by bigbear — July 18, 2016 @ 2:26 pm
Thx Jon… figured as much as such.. but thought there would be a target based on current revenues and fundamentals…
BigBear – the link is listed as insecure… in Firefox that is:) and France has been mentioned by DVR to support their pricing and farmer benefit models…
Comment by Jeremy — July 18, 2016 @ 3:08 pm
hmirrorwall.com/parrot-drone-ventures-into-the-agricultural-industry/
this one worked:) but google ‘parrot drone ventures’ then go from there
Comment by Jeremy — July 18, 2016 @ 3:10 pm
CXO reports assay results from first eight drill holes.
Comment by Robert — July 19, 2016 @ 4:26 am
so there you have it.. 2 bids on DVR …. 10K at 20 as well as 10k at 50….. both Scotia….
Comment by Jeremy — July 19, 2016 @ 4:33 am
It will take a while for bids/offers to be sorted out in this situation (DVR) Jeremy, and may not even start trading right at the opening bell.
Comment by Jon - BMR — July 19, 2016 @ 4:53 am
Thx Jeremy….Deveron into drones,so i see this morning news out on Alta Vista -avv also getting into drone imaging data within the mining and ag. sectors. Any thoughts out there about this company trading .07 range. link to some recent news
stockwatch.com/News/Item.aspx?bid=Z-C%3aAVV-2390411&symbol=AVV®ion=C
Comment by bigbear — July 19, 2016 @ 5:00 am
News from VGN this morning: Greencastle has granted an incentive option to purchase up to 1,000,000 common shares of Deveron to David MacMillan, Deveron President and CEO at an exercise price of $0.30 and expiring on July 14, 2019.
If the options are at $0.30, should it not give a ball park valuation for the stock price?
My bid is in anyway… will see how it goes !
Comment by rgiroux — July 19, 2016 @ 5:02 am
Keep in mind, rgrioux, VGN holds warrants in DVR as well, so they have some flexibility, and the incentive from them to MacMillan has nothing to do with a “ball park” valuation, same with the DVR PP. Obviously, they’d want to load MacMillan up with as many attractively priced options as possible before the stock begins trading.
Comment by Jon - BMR — July 19, 2016 @ 5:11 am
DVR not showing up on my RBC account to trade. Possibly all potential bids not showing up.
Comment by Dave2 — July 19, 2016 @ 5:26 am
cxo drill results out
Comment by John — July 19, 2016 @ 5:26 am
Pretty much on cue with initial expectations, John, and some profit taking on the news which is par for the course and not unanticipated. A good start as they cut into high-grade in each of the first 8 holes. I suspect we’ll learn a lot more in the days ahead through the site visit in terms of the system and what they see developing. I’m sure they learned a great deal from the first 15 holes (designed to understand the controls on mineralization) which is going to enhance the possibilities for the others that follow. They’re proceeding at an aggressive pace, 37 holes to date (5,000 m). Obviously they’ll be drilling more (perhaps much more) than what they had initially proposed. I would take that as a sign they are liking what they see – a lot.
Comment by Jon - BMR — July 19, 2016 @ 5:36 am
Dave2: I had to call RBC to put my bid. They see it but not on their web platform yet.
Comment by rgiroux — July 19, 2016 @ 5:56 am
Thanks Rgiroux
Comment by Dave2 — July 19, 2016 @ 6:04 am
I just communicated with Adam Travis who’s on site at KSP…and he’s excited re: this morning’s news and how this drill program is rapidly progressing…hopefully some quotes for this morning’s report and audio for tomorrow…
Comment by Jon - BMR — July 19, 2016 @ 6:06 am
Jon
will you be allowed to report what you see and hear from the CXO site on the tour or will their be restrictions in place by CXO?
Comment by GREG — July 19, 2016 @ 6:31 am
Hi Greg, I have found only minimal restrictions on any site visit I’ve been part of. I believe everyone will be able to give a very valuable broader perspective on what’s unfolding, and some interesting interpretations. I also just completed a short interview with Adam. Things are looking very good up there, the pace of drilling is incredible and that speaks volumes about where this is headed…some high-grade in each of the first 8 holes which covered a distance of about 400 m…the 37 holes so far have been over 700 m…they have still tested just a fraction of what’s there and the deepest hole is only to about a vertical depth of 150 m…there are similarities in the core from the Inel Zone to the rocks in the Kyber Zone 2 km to the south…looks like a very large system…a team of about 30 is on site…my gut feeling is, after this site visit this week, CXO is going to get a lot of attention…
Comment by Jon - BMR — July 19, 2016 @ 6:52 am
DVR – if one go to stockwatch click the DVR symbol click the 1 year chart it show today trading open .50 hi .50 lo 40 last.45 20500 vol
Comment by kelly — July 19, 2016 @ 7:50 am
Hi Kelly, just spoke with someone who submitted a DVR bid at 56 cents through TD…and there are no offers at the moment…don’t see any trades on my system yet…
Comment by Jon - BMR — July 19, 2016 @ 8:01 am
DVR now on RBC platform, picked some up at 0.55 not much out there
Comment by Dave2 — July 19, 2016 @ 8:02 am
DVR 20k on offer for 0.75
Comment by Dave2 — July 19, 2016 @ 8:09 am
Gbb volume over 3m. Something big happening!!!
Comment by Matt — July 19, 2016 @ 8:15 am
RBC told me the ask is at 0.75$ (DVR)
Comment by rgiroux — July 19, 2016 @ 8:23 am
DVR
Try this site
http://thecse.com/en/listings/diversified-industries/deveron-uas-corp
Comment by John BMR — July 19, 2016 @ 8:27 am
GBB- Frank just back from Europe, possibly a NR soon re: financing
Comment by bob — July 19, 2016 @ 9:36 am
Nice close on Gbb 4.5 m shares. Closed at 13 cents
Comment by Matt — July 19, 2016 @ 12:25 pm
Yes, great day on GBB, Matt…
Hopefully the trading glitches on DVR will clear up tomorrow—-many buy orders from certain brokerages entered that never made it into the CSE due to the switch-over from the Venture, and the technicalities of that, and those orders simply didn’t process onto the CSE platform…they’re hoping to have that situation fixed by tomorrow or ASAP…also, another glitch prevented anything from showing up on Stockwatch during the trading session but that has now been fixed…
Comment by Jon - BMR — July 19, 2016 @ 3:02 pm