Gold has traded between $1,274 and $1,288 so far today in the wake of the deadliest terrorist attack on American soil since 9/11, while Asian equity markets dropped the most in 4 months overnight…as of 9:30 am Pacific, bullion is up $10 an ounce at $1,283…Silver is 10 cents higher at $17.38…Copper is up 2 pennies at $2.06…Crude Oil has retreated 29 cents to $48.79 while the U.S. Dollar Index is down one-third of a point at 94.39…
The British pound fell to a 2-month low against the dollar today, pushing Gold denominated in sterling to its highest level in 3 years to almost 910 pounds an ounce…
“The UK referendum on EU membership has implications across many asset classes but Gold, as the ultimate barometer of financial and economic tension, is currently the asset class showing one of the highest levels of sensitivity to the possible range of outcomes,” Citi said in a note this morning…
More fear-mongering regarding the June 23 UK referendum…if Britons vote to leave the EU, it could mark the beginning of the end for the 28-nation bloc and for western political civilization more generally, according to European Council President Donald Tusk…in an interview with German newspaper Bild, Tusk said a so-called Brexit vote would provide a major boost to radical anti-European forces who he said would be “drinking champagne. Why is it so dangerous? Because no one can foresee what the long-term consequences would be,” Tusk said. “As an historian I fear that Brexit could be the beginning of the destruction of not only the EU but also of western political civilization in its entirety.”
Wow…Brits go to the polls with a heavy responsibility – the fate of western political civilization as we know it is in their hands!…
Holdings in the world’s largest Gold-backed exchange-traded fund, SPDR Gold Trust, rose 0.74% to 893.92 tonnes on Friday, the highest since October 2013…
America Under Attack
Yesterday’s horrific slaughter at an Orlando nightclub was sickening but hardly surprising given how political correctness has been applied to the American threat assessment over the last 7-and-a-half years under President Obama…we have stated repeatedly, the world is a more chaotic and dangerous place than ever – and Gold will respond accordingly – as a mammoth problem (radical Islamist terrorism) can’t be solved if it’s not even acknowledged by the leader of the free world…the growth of ISIS over the last 3 years has been stunning, yet Obama’s response has been recklessly naïve…in early 2014, after saying Al Qaeda had been “decimated”, the President dismissed ISIS as a “JV team”…to this day he still can’t utter the words “radical Islamist terrorism” and continues to insist that “climate change” is the world’s greatest threat…as Commander-in-Chief, with his #1 duty to protect the homeland, he has therefore failed the nation…radical Islam, represented by ISIS, Al Qaeda and other groups, continues to expand its war against the United States and the West…Muslims across the world also have to look in the mirror and find a way to deal with a hate-filled ideology that has hijacked their religion…
The FBI said yesterday that the suspect in the Orlando nightclub shooting, Omar Mateen, was investigated twice by the agency in recent years for connections to Islamic terror – including a 2014 probe for possible ties to American suicide bomber Moner Mohammad Abu-Salha…according to news reports, Mateen called 911 before the attack yesterday and pledged his allegiance to Islamic State terror group leader Abu Bakr al-Baghdadi (ISIS recently repeated its call for attacks on America during this period of Ramadan)…he also purportedly mentioned during the call the Tsarnaev brothers, who set off bombs at the 2013 Boston Marathon and were inspired by Islamic extremism…Mateen was a U.S. citizen and a Muslim born in New York to parents from Afghanistan…
Central Bank Watch
The Fed begins its 2-day June meeting tomorrow but is not expected to take action Wednesday…nonetheless, it’ll be interesting to read their bafflegab…
The actions of other central banks will likely continue to be felt this week as their easing programs wash over global bond markets, sending some yields to record lows…the Bank of Japan’s policy meeting on Wednesday should be of some interest with analysts saying the bank could announce additional easing measures…
Gold 36-Year Monthly Chart
Looking at the world today, is it a little easier to understand how Gold could skyrocket to nearly $3,000 an ounce within the next couple of years?…that’s what John’s long-term chart has been suggesting since the start of 2016…
John’s interpretation – and he has been spectacularly accurate on Gold – is that bullion is now in the early stages of a “Wave 5” move that certainly has the potential to drive prices well beyond the late 2011 all-time high of $1,924…
This 36-year monthly chart shows that Gold is in the grips of a full-fledged bull market with RSI(14) gaining momentum above 50%, sell pressure (CMF) in rapid decline and likely to soon transition into buy pressure, while a bullish +DI/-DI cross has occurred – the first since 2001 at the start of Wave 1…
The Wave 1 move was a gain of 293%…Wave 3 brought Gold from $681 to $1,924 for a climb of 183%, while Wave 5 is projected to take Gold from the recent low of $1,045 to a high of $2,760 which would be a surge of 164%…Waves 2 and 4 were pullbacks within the context of a long-term bull cycle…
BMR Adds New Writer & Researcher
To serve our subscribers even better during this new bull market in Gold and the Venture, BMR is pleased to announce that it has added a new writer and researcher – Daniel T. Cook…from the great state of Texas, Daniel has a strong passion for the junior resource sector and has followed the Venture and broader markets with great interest since he bought his first stock 18 years ago at the age of 12…he’s also a licensed investment professional who was a Bright Future’s Scholar at the University of Central Florida, graduating in 2010 with a major in Finance…we know our readers will enjoy his material and benefit from his wisdom and insight…we welcome him aboard!…
“Yes, I bought my first stock – 5 shares in Home Depot – when I was only 12,” explains Dan. “I was ecstatic when I saw that investment double, and that’s what really sparked my interest in the markets. Then I started reading and writing about stocks (Buffet, Wanger, Motley Fool, etc.), and I’m still doing that today! My favorite recipes include metals, mining and agriculture. I prefer to investigate before investing!”
Below today’s updated Silver charts is the first portion of a separate 2-part article by Daniel T. that we’ll be posting later today (Pro & Gold Subscribers)…
In today’s Morning Musings…
1. Probe Metals (PRB, TSX-V) starts to put its $20 million treasury and Adventure Gold assets to work…
2. Discovery Ventures picks up steam as MX Gold Corp. (MXL, TSX-V)…
3. Silver’s next key level…
4. The biggest software deal ever…
5. Daniel’s Den…
Plus more…click here to take advantage of our Spring Sizzler Subscription Special in effect for a limited time only, or login with your username and password to view the rest of today’s Morning Musings…
SAVE 25% with a risk-free subscription (as little as $1 per day) as you gain full access to this and other exclusive BMR content…
Hey!!!! Welcome Daniel!! Looking forward to your contributions…
Comment by GregJ. — June 13, 2016 @ 8:46 am
Jon, the main reason so may people died in Orlando (a terrible tragedy) is because in the U.S. any wacko can access an AR-15 assault weapon which can fire over 30 rounds a minute. This has nothing to do with political correctness. This guy was born in the US. You can call it “radical Islamic terrorism” all you want, that wouldn’t have prevented this tragedy. As long as the NRA continues to have the kind of power they do, these mass killings will continue. The 2nd or 1st amendment or whatever it is in the US came out when muskets were the weapon of choice not semi-automatic assault weapons.
Comment by Danny — June 13, 2016 @ 8:57 am
We’ll agree to disagree on that, Danny. Any gun regulations invented by politicians never would have prevented this wacko from getting hold of whatever he felt he needed to carry out his sick agenda. Heck, he was even been investigated by the FBI for possible terrorist connections and he managed to slip thru the cracks. All the evidence suggests he was a radical Islamist, inspired by ISIS which Obama has underestimated and has allowed to grow under his watch. There will be more attacks on the homeland, unfortunately, the way this is developing. How bad does it have to get before we wake up?
Comment by Jon - BMR — June 13, 2016 @ 9:20 am
Jon, I am not disputing that “radical Islamic terrorism” is not a problem however there have been so many mass killings in the US that have been carried out using semi automatic assault weapons, many of these not related to terrorism that you have to look at the availability of these weapons that are designed for 1 purpose only, to kill multiple people.
Yes, we will have to agree to disagree. It’s great to live in a country where we can do this. I always respect other people’s opinions.
Comment by Danny — June 13, 2016 @ 9:56 am
Danny
I think what you are missing is that the founders of this Country USA realized that they had to have the right to bear arms to protect themselves mainly from the Government, they had seen what Governments can do when they have total control.. it didn’t matter if it was a musket or what ever weapons we have today… once you let the Government tell you what weapon you can have or not have you are going down the road to them telling you when to go to the bathroom and when you can’t… Government is way too big in our lives now and it is just getting worse, I am sure the founders of this Country are rolling over in their graves at what is happening today, Government is supposed to protect its citizens and its borders and that is not happening today, it doesn’t matter if all guns were outlawed in this Country or not the people that are determined to kill us are going to find a way to get them illegally anyway and then what are we supposed to do to protect ourselves? I will fight to the death over the right to have weapons to protect myself and mainly my family from harm. This current administration is determined to take that right away in my opinion…. anyway its not the guns that kill, its the people and the hate in their hearts that kill…
Comment by GREG — June 13, 2016 @ 11:44 am
Greg
I don’t dispute a lot of what you said. I don’t have a problem at all with the right to bear arms and citizens being able to protect themselves. It’s a matter of degree. My issue is only with the types of arms that are easily accessible. Do you and your family feel a greater sense of freedom knowing that a lot of crazy people out there can easily access weapons that can fire more than 30 rounds a minute? What is the answer to stop these senseless tragedies? There is no simple answer.
Thanks for your reasonable response. I know debates like these can get emotional.
Comment by Danny — June 13, 2016 @ 12:14 pm
Danny
Thanks for your response, In answer to your question: “Do you and your family feel a greater sense of freedom knowing that a lot of crazy people out there can easily access weapons that can fire more than 30 rounds a minute? What is the answer to stop these senseless tragedies? There is no simple answer.”
I would feel less safe and definitely less free if the Gov’t banned all semi auto weapons, because I know once they did that it is just a matter of time before they banned all weapons and other freedoms that we have in this country.. the anwser is the Gov’t needs to do its job of protecting our borders and protecting its citizens instead of trying to find ways to take it’s citizens rights away, if they spent more time and resources in doing that maybe they can stop these groups and individuals before this happens, but taking the guns away is not going to stop this from happening… BTW did anyone see the article about the police in LA stopping a person on his way to the Gay Rights parade in LA this person had guns and bombs this is what we need more of… towleroad.com/2016/06/la-pride-2/
Comment by GREG — June 13, 2016 @ 12:28 pm
Anyone here familiar with OLA.v?
This crew has been on the hunt for a gold property for months now, share price indicates maybe something is close?
Any thoughts on the iceberg on HSR?
Comment by Mmurphy — June 13, 2016 @ 12:41 pm
Anyone know what’s going on with vvn? Up on big volume today
Comment by Sameer — June 13, 2016 @ 1:01 pm
Greg, thanks for your reply. I think we should move on to investing. My apologies to the other members for my political rant. Time to make some money.
Comment by Danny — June 13, 2016 @ 1:23 pm
Dan the Man – welcome… Benton was a prize winner pre 2012.. guess it just went quiet..
and my portfolio has gone up by ONLY 70% in total.. havent had those high flyers like canasil and Brazilnuts…
so your sribeing is very timely ..
Looking forward to your investigative reporting:)
Comment by Jeremy — June 13, 2016 @ 1:39 pm
Daniel – is Dan ok?? or do you prefer your whole christian name (which is what we used to call it!!:)) dont want to start a fight tho!
Comment by Jeremy — June 13, 2016 @ 1:40 pm
Welcome Daniel! I live in florida and also went to UCF!
Comment by Sameer — June 13, 2016 @ 2:14 pm
Danny .. no apologies needed. Your point is well taken.. ” a matter of degree”
Comment by GregJ. — June 13, 2016 @ 2:36 pm
Hey Greg it’s an easy solution. Ban semi automatics. They serve no purpose but to kill. The USA keeps having issues with mass shootings and murders because of their gun rules. I live in a country where guns are restricted I feel more safe then When I travel to the us… Oh yeah and we never has mass shootings either.
Comment by Matt — June 13, 2016 @ 2:58 pm
Sorry all don’t want to get off track here either, when it comes to Politics and personal views we will never all agree anyway…. so I’ll just leave it at that..
Now anyone have any idea on the snow level in the Golden Triangle, is it melted enough yet for companies to get up there and start drilling? Cannot wait for CXO to get started…
Also welcome to Daniel, hopefuly we don’t scare you off, lol, it can get pretty heated around here some times….
Comment by Greg — June 13, 2016 @ 4:31 pm
Greg, snow levels were exceptionally low this winter which will allow for exploration programs to begin imminently, and it should be any day now when CXO starts drilling.
Comment by Jon - BMR — June 13, 2016 @ 4:42 pm
Triangle – there are crew(s) expecting to start ground work within the week.
Comment by david — June 13, 2016 @ 5:12 pm
Greg?? curious!! Still holding Sam.v? Sold mine today.. bought a whack of UMB!! i don’t know.. might regret it!! Cheers!!!!
Comment by GregJ. — June 13, 2016 @ 5:13 pm
Hi Guys,
Umbral Energy (UMB) has seen Anonymous be a net seller of 19,460,000 shares since the run up in share price from $.04 to $.095 and back down to today’s $.055 all over a period of 13 trading sessions. Granted Anonymous provided a lot of paper for buyers on the run up to $.095 but has also been responsible for almost all of the selling on the way back down. Any idea who (fund, individual)is selling and why?
Comment by John — June 13, 2016 @ 6:47 pm
With regards to my Umbral post I forgot to add that with 58,000,000 shares outstanding, the 19,460,000 shares sold by Anonymous is 33% of the float. A fair whack of Paper!
Comment by John — June 13, 2016 @ 6:53 pm
Gregj, sorry there are a couple of other Greg’s on this site, I wasn’t the one holding SAM.V, good luck to you though…
Comment by GREG — June 13, 2016 @ 6:56 pm
Like the Daniel’s Den, is this going to be a daily,weekly deal?
Comment by GREGH — June 13, 2016 @ 7:08 pm
It will be a regular feature, Gregh, on a weekly basis…3 times per week to start as part of Morning Musings. Having Dan on board will help us expand coverage of the very best opportunities in the most prolific exploration areas around the country, from the Lithium camps in Quebec to of course the Heart of Gold Camp in northwest B.C., to new situations in Canada, the U.S. and around the world. Give him a couple of weeks and he’ll be in a real groove.
Comment by Jon - BMR — June 14, 2016 @ 2:12 am