Gold has traded between $1,239 and $1,248 on this final day of the month and quarter…as of 11:45 am Pacific, bullion is down $4 an ounce at $1,241…Silver is relatively unchanged at $16.60…Copper up slightly at 2.68…Nickel has jumped 6 cents to $4.24…Crude Oil, up 7 days in a row, has surged $1.15 a barrel to $46.08 while the battered U.S. Dollar Index has reversed modestly higher, adding nearly one-fifth of a point to 95.70…
For what it’s worth, the weekly Kitco News Gold Survey shows “Main Street” with its most bearish stance on prices for the coming week since July 2015…more than two-thirds of online Main Street voters are calling for Gold to fall some more in the week ahead…if you’re a contrarian, those are numbers you have to like (though they could climb even higher a week from now, which would even be more bullish in terms of a summer turnaround)…
Tensions are ramping up in the Middle East, and that’s often bullish for both Oil and Gold…the dispute between Qatar and its neighbors is now more serious as it enters its 5th week with Qatar rejecting a list of demands from Saudi Arabia and other countries…this will likely prolong the crisis…some Middle East watchers believe the risk of armed conflict is growing…Saudi Arabia, the United Arab Emirates, Egypt and Bahrain cut diplomatic ties with Qatar and implemented a partial blockade on June 5 in a bid to bring the tiny Persian Gulf monarchy in line with Saudi-dominated foreign policy…the demands include shutting down Al Jazeera news and closing a Turkish military base…the coalition is also calling on Qatar to end its ties to terrorist groups and political opposition figures in Gulf nations and Egypt while demanding that Qatar pay reparations and submit to compliance reviews going forward…
U.S. Oil Rig Count Declines For First Time Since January
Baker Hughes reported within the last couple of hours that its weekly count of Oil rigs operating in U.S. fields fell for the first time since January, down by 2 at 756…that gave traders fresh encouragement and added significantly to gains in WTIC…
In today’s Morning Musings…
1. Canadian Zeolite (CNZ, TSX-V) update – one of Venture’s top weekly performers…
2. Venture set to post its worst month of the year – last gasp of the consolidation?…
3. TSX Gold Index suggests summer volatility is on the way…
4. Daniel’s Den – returns with special BMR CANADA DAY post tomorrow…
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We also give first-time subscribers an industry-leading 100% money-back satisfaction guarantee. If you don’t believe BMR has helped you make money for your first 6-month subscription period, we’ll refund your subscription fee in full – no questions asked!
Did you know that for as little as just over $2 a day, you can be a BMR subscriber and tap into the best analysis and picks for the junior resource sector that you’ll find anywhere? Last year’s BMRTop 50 List returned a whopping 118% and we are delivering market-trouncing returns again in 2017. BMR was the first to call the new bull market in the Venture in early 2016, and our coverage of the commodities space gives you valuable daily insights into price movements and critical trends. BMR is daily information that puts you ahead of the crowd!
We also give first-time subscribers an industry-leading 100% money-back satisfaction guarantee. If you don’t believe BMR has helped you make money for your first 6-month subscription period, we’ll refund your subscription fee in full – no questions asked!
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sell in may postponed til June…
Comment by Jeremy — June 30, 2017 @ 12:38 pm
http://aheadoftheherd.com/Newsletter/2017/Deveron-UAS-First-Mover-Advantage.htm
get on board all
Comment by Jeremy — June 30, 2017 @ 2:19 pm
Jeremy, With you there. At these prices how can you not be a buyer? I bought more today.
Comment by Charles — June 30, 2017 @ 7:46 pm
Absolutely Charles… its all about execution.. and with 500 flights in their maiden year, one can only hope they can scale quickly!
Comment by Jeremy — July 1, 2017 @ 6:54 am
Yes Jeremy. As a growing business, when you move to buy more equipment and hire more people it’s because you have work for them to do.
Comment by Charles — July 1, 2017 @ 7:37 am