Gold has traded between $1,243 and $1,261 so far today…as of 9:00 am Pacific, bullion is up $9 an ounce at $1,253…Silver is flat at $15.82 as it continues to flirt with the critical $16 level…Copper is unchanged at $2.30…Crude Oil is off slightly at $41.31 while the U.S. Dollar Index has climbed one-tenth of a point to 95.53…
Swiss Gold exports fell to an 18-month low in February as shipments to leading Gold consumers India, China and Hong Kong slid from the previous month. “Exports to China, Hong Kong and India plunged by over 40% month-on-month and are thus nearly 30% lower than in the same period last year. This points to subdued Gold demand in Asia,” Commerzbank said in a note…much of that weakness in Asia is likely attributable to India where Gold imports last month were impacted by anticipated budget measures…a sudden ramping up of Asian buying could help power Gold beyond $1,300 an ounce…
Islamist Terrorists Strike Again
In a series of Islamist terrorist attacks, which ISIS is claiming responsibility for, three explosions ripped through Belgium today and killed at least 34 people, raising the specter of terror once again in the heart of Europe…20 died in a blast at a subway station, according to media outlets, while another 14 were killed in 2 blasts at the Brussels’ airport…at least 170 were injured at both the subway station and the airport…all public transportation in the city has been closed, and a nuclear power plant in the eastern part of the country has also been evacuated…
A U.S. official said the attacks appear to be an attempt by Islamic State operatives to demonstrate agility and the ability to rapidly retaliate in the wake of the arrest of Salah Abdeslam, one of the alleged Paris attackers who was captured in Brussels just days ago after a 4-month manhunt…
Approaching Good Friday and Easter Sunday, celebrated by Christians around the world, where is ISIS intending on striking next?…
European stock markets finished mostly only slightly lower today, though travel sector stocks including airlines and hotels were under pressure as reports on the scale of the carnage in the de facto capital of the European Union unfolded…
Since declaring its caliphate in June 2014, the self-proclaimed Islamic State – deemed a “JV team” by President Obama just a couple of years ago – has conducted or inspired more than 70 terrorist attacks in 20 countries (including the U.S. and Canada) other than Iraq and Syria where its carnage has taken a much deadlier toll…those attacks outside Iraq and Syria have killed at least 1,200 people and injured more than 1,700 others…yet, Obama still doesn’t have an effective plan to deal with ISIS nor can he call the situation what it truly is – a radical Islamist terrorist movement waging jihad against the West…in Canada, Prime Minister Justin Trudeau is so tone deaf to the challenge of Islamist terrorism he even withdrew this country’s CF-18‘s from a bombing mission against ISIS in Iraq that actually needs to be stepped up…
The world has become increasingly chaotic, thanks to ineffective and incompetent politicians from North America to Brazil to Europe to China – just one of the many reasons Gold has woken up in 2016…
Interesting comments on social media this morning from the leading candidates for U.S. President:
Donald Trump: “Do you all remember how beautiful and safe a place Brussels was. Not anymore, it is from a different world! U.S. must be vigilant and smart!”
Ted Cruz: “Our hearts break for the men and women of Brussels this morning. Make no mistake – these terror attacks are no isolated incidents. They are just the latest in a string of coordinated attacks by radical Islamic terrorists perpetrated by those who are waging war against all who do not accept their extreme strain of Islam.
“Radical Islam is at war with us. For over seven years we have had a president who refuses to acknowledge this reality. And the truth is, we can never hope to defeat this evil so long as we refuse to even name it. That ends on January 20, 2017, when I am sworn in as president. We will name our enemy – radical Islamic terrorism. And we will defeat it.”
Hillary Clinton: “Terrorists have once again struck at the heart of Europe, but their campaign of hate and fear will not succeed. The people of Brussels, of Europe, and of the world will not be intimidated by these vicious killers. Today Americans stand in solidarity with our European allies. Our thoughts and prayers are with the families of those killed and wounded, and all the people of Belgium. These terrorists seek to undermine the democratic values that are the foundation of our alliance and our way of life, but they will never succeed. Today’s attacks will only strengthen our resolve to stand together as allies and defeat terrorism and radical jihadism around the world.”
At least Hillary can say the words “radical jihadism” which apparently aren’t part of Obama’s vocabulary (or Trudeau’s either)…however, Clinton was also Obama’s Secretary of State who had a chance to do something about radical jihadism which has grown exponentially under Obama’s watch…
Copper Update
Copper prices have room to climb higher and should at least challenge Fib. resistance at $2.47 during the upcoming quarter, according to John’s updated 20-year monthly chart…
What’s interesting about this long-term chart is how Copper’s RSI(14) has finally pushed above a downtrend line going back to late 2011…whether this is a false breakout, or carries major significance, is too early to tell…the ADX indicator shows a weakening bearish trend while sell pressure (CMF) has been declining marginally since the middle of last year…this bullish Copper chart aligns nicely with the CRB Index and the Venture, though at this point – unless there’s a sudden improvement in global growth prospects or the U.S. dollar tumbles more severely than expected – it’s hard to imagine the factors that could power Copper above $2.50 over the next several months…perhaps there’s a surprise on the way…
Analysts and investors point toward stockpiles of LME-monitored Copper that have slumped to their lowest since the spring of 2014 as one of the reasons for Copper’s rally this year…however, while LME stocks have dropped quickly, the build taking place in China has been at least as severe according to Macquarie Group in a report sent out late last week…traders have been shifting Copper from LME-tracked warehouses to China to take advantage of arbitrage opportunities, boosting the amount in facilities monitored by the Shanghai Futures Exchange to a record…
In today’s Morning Musings…
1. Big question – will momentum allow the Venture to blast through next Fib. resistance at 591?…
2. A junior up 270% in just 6 weeks…
3. Updates on 2 discovery plays…
Plus more…to view the rest of today’s Morning Musings, login with your username and password, or click here to gain full access to this and other exclusive BMR content and features…
Jon, you predicted we would hear something from Regoci last week regarding Rambo. I also thought we wold hear from him. It’s Tuesday already this week and still nothing. He hasn’t changed his style and that’s very frustrating for shareholders. Other investors can come on here and say stop complaining, but how long have they been invested in GGI and being told that they will create shareholder wealth. Don’t get me wrong, I have made money on the ups and downs of this stock and I call it smart investing. But, I have a base amount of shares that I have been holding for at least 3 years now hoping to reap the benefits when either Grizzly or Silver Eagle comes to fruition, but by the looks of things it won’t be anytime soon. The frustrating part is Regoci’s style but maybe that’s how he keeps his shareholders hanging on while he collects his paycheck, bouncing from one project to another. One thing we can’t complain about is how active GGI has been, but on the other hand how long it takes to update their shareholders, Ex: La Patillo (nothing for months), Rambo drilling (Are they actually drilling)? – Absolutely disgusting.
Jon, don’t take this comment the wrong way but how much longer is BMR going to give Regoci and GGI the benefit of the doubt? I know you expressed your concern a while back with them but it doesn’t seem to matter what we think. Have you talked to Regoci lately and if so do we as shareholders have anything to look forward to that will propel the stock higher short term?
Thanks,
Dan
Comment by Dan1 — March 22, 2016 @ 10:22 am
Dan, I do expect we’ll hear from GGI very soon but I’m patient and it’s not going to hurry GGI up if I write a post complaining about why we don’t have updates yet on different fronts…I also would have expected news by now from CLZ and WRR…often it can be a waiting game, which can be frustrating of course for investors, but that’s the nature of this business…sometimes there’s a LOT happening behind the scenes that we just don’t know about, and when a company is ready to report they report…what I do know is this: Rambo is a first-rate discovery target, right beside a producing gold-silver operation; Grizzly Central hosts a major magnesium-nickel deposit that could become much more significant if it’s metallurgically clean; there’s more to GGI in B.C. than meets the eye; and the Mexico properties have shown great potential but GGI needs to ramp up activity there and truly unlock the value of that package…they’ll be judged on how effectively they do that, by us and the market…we’ll see what unfolds the balance of this month and into April…the stock has been constrained due in part to technical factors that are abating…it quadrupled off its low in 2013…quadrupled off its low in 2014…quadrupled off its low in 2015…it’s near its low now, so what does that you?…
Comment by Jon - BMR — March 22, 2016 @ 10:57 am
Jon, how about farshad, have u spoken to him recently? Is this a waiting game until the court hearing?
Comment by Sameer — March 22, 2016 @ 11:06 am
Jon, no disrespect but you really can’t compare CLZ to GGI. CLZ has already released two set of results and a third on the way and a second round of drilling already started. Orex is also the operator so CLZ just has to wait for Orex. My bet is we hear from Orex this week. I know we have to wait for results but GGI has had the samples from Grizzly for months now and if you read their NR regarding metallurgical results indications were it wouldn’t be there long. Maybe the metallurgical results are extraordinary and thus the extra time bit other that they I would have expected them before now.
Comment by Dan1 — March 22, 2016 @ 11:09 am
In the last week or so, NIRP, dovish fed, dollar index down, terrorist attacks, geopolitical risks, etc and yet gold seems to be stuck. I would’ve expected gold to be past $1300 with all this uncertainty.
Comment by Sameer — March 22, 2016 @ 11:13 am
on the tahltan web site under updates (TCG news) chad day have issues with Skeena res now.
Comment by kelly — March 22, 2016 @ 11:16 am
No, I haven’t spoken with Farshad recently, Sameer, but things obviously aren’t happening on the ground when there’s wrangling in court…nobody here questions the value of the Hat or its potential…but Farshad needs to solve this problem one way or the other…unfortunately in this country, it doesn’t seem to be politically correct to challenge First Nations and we’re also hamstrung by liberal judges in the courts…that was pure intimidation by Chad Day last summer and even the First Nations’ radio station referred to it as a “blockade” even if Day didn’t choose to use that language…hopefully the late May Supreme Court hearing will settle this but Day is clever and could use stalling tactics depending on how confident he is regarding the outcome…
Comment by Jon - BMR — March 22, 2016 @ 11:16 am
Kelly, unlike the Sheslay district, where there’s an overlap claim (Tlingits hold a comprehensive claim as part of the Treaty Process and worked out a Land Use Plan with the government for the district, while the Tahltan say this is their territory), Skeena’s deposit is on ground that is only claimed by the Tahltan…and there is no Land Use Plan…I suspect there’s pressure from the Tahltan on Skeena to sign an “exploration agreement” $$$$$ with the Tahltan…call it whatever you want—–in certain areas of Mexico it would be referred to as one thing, in Canada it’s called “accommodation” or whatever politically correct term fits…
Comment by Jon - BMR — March 22, 2016 @ 12:57 pm
can someone tell me HOW in hell FN communities are demanding billions for housing from us, and the last time I looked they did not contribute to the GDP of this country like we do??
I really want to know and understand how and why this country is held hostage to the FN’s?? I must be missing something…. arent I?
I mean no disrespect, but come on now… I dont get my housing paid for do you???
Trudeau should be shot for rescinding the transparency act!
Comment by Jeremy — March 22, 2016 @ 1:15 pm
Not only that, Jeremy, but here’s another problem in B.C. and elsewhere – major story on this in the Vancouver Sun….some FN members (even on the Tahltan reserve) believe it’s actually their aboriginal right NOT to pay rent….so we’re building housing for them in a lot of cases and millions of dollars are not being paid in rent…today’s budget is giving First Nations billions of dollars that of course will probably not be properly accounted for, while First Nations are also helping slow down or stop key resource development projects in this country…where are we headed as a country with this mess?
Comment by Jon - BMR — March 22, 2016 @ 1:18 pm
Jon .. down the crapper mate… and the only thing I have heard so far from the FN’s is that its not enuff… we need more.. they have the gov by the balls and squeezing and we smile and say how much… aboriginal rights were lost when they lost the fight, signed the treaty, and got into the relationship they got into with the national gov.
are we that spineless??? Chad Day can break the law without reproach and then DBV HAS to go to court to defend themselves and still lose???
WTF are we doing???
FN reserves should be renemaed FN’s RESORT!!! all inclusinve
Comment by Jeremy — March 22, 2016 @ 1:32 pm
You try to fix a serious problem on the Mexican border and with illegal immigrants, and you’re a racist; you try to set things straight with First Nations and challenge them on anything including a resource project, or band spending, and you’re a racist; you bring up the obvious problem of Muslim extremism and you’re a racist…that’s how it works these days under Democrats in Washington and Liberals in Ottawa and in most provinces…
Comment by Jon - BMR — March 22, 2016 @ 1:37 pm
Agree Jon with been labeled a racist when trying to fight for something that is right and makes sense, I hope Trump wins the nomination and Presidency. Then we will see real action to try and stop this nonsense at least in the US.
Comment by Dan1 — March 22, 2016 @ 1:41 pm
Be careful what you wish for Dan1… but Jon’s rant as with the rest of us.. try and have a white history month.. see where it gets you.. no disrespect to anyone.. but the race card is played by all races.. but its ok for some but not for all.. that environment has been created and will be perpetuated by those who see the benefits in doing so.
We are off topic here.. but in reality these cards are being played everywhere … we all suffer…. and our grand-kids will pay the price..
and we are knumb to it all… sad state .. yes we needed more Rob Fords to break the cycle.. alas it was not to be
Comment by Jeremy — March 22, 2016 @ 7:14 pm
News Out from OREX this morning. More high grade silver 32 meters 252g/t to the southeast. Only 4 holes though with another 7 to come from the first phase and new drill holes from phase 2. This really widens the deposit.
Comment by Dan1 — March 23, 2016 @ 6:05 am
…the stock has been constrained due in part to technical factors that are abating…? Really Jon, thats why the stock hasnt been moving up, because of technical factors? With all due respect I am going to have to say that is not the reason. Did johns chart tell us to sell GGI near the top?
Comment by George — March 23, 2016 @ 6:13 am
George, you greatly diminish your chances of being successful in the junior resource market if you ignore TA…every investor needs to understand at least the basics, and of course incorporate the fundamentals into the picture as well…yes, stocks do get restrained from declining moving averages and other technical factors (and the opposite is the case, too)…when the technical pressure on GGI abated last summer, the stock was able to generate considerable momentum in conjunction with a drill program…the technical pressure we’ve seen recently (ever since the 50-day started to decline, actually) will also abate in due course…if you look at GGI’s technical history, now is actually the time to be accumulating…
Comment by Jon - BMR — March 23, 2016 @ 7:21 am
Results continue to be supportive of a significant deposit, Dan…building tonnage is now going to be the key as this 2nd round of drilling begins…some typical “sell on news” pressure that we often see in stocks, plus Gold and Silver are down this morning, but any weakness in CLZ has been a buying opportunity and I would say the same holds true today…would like to see the sections on the CLZ web site but I don’t see that posted yet…
Comment by Jon - BMR — March 23, 2016 @ 7:24 am
WRR NEWS….LOOKS OK….?
Comment by STEVEN1 — March 23, 2016 @ 7:28 am
Yes, Steven1, high-grade is continuing to depth as this hole was drilled 30 m below hole #2…excellent grades…they’ve hit on each of the first 3 holes, no geological reason to sell and every reason to hang on…again, however, like February 2, I found the NR lacking the kind of “punch” these results are worthy of, and President Michel David again made the faux pas of putting out news during a trading session…he doesn’t learn…
Comment by Jon - BMR — March 23, 2016 @ 7:30 am
While we are on the subject: Youtube: Michelle Obama is a man.
Comment by dave — March 23, 2016 @ 7:50 am
Jon I cannot believe WRR just repeated the same error with this NR as last time! Jon didn’t you say you spoke to Michel David after the Feb 2nd NR about market timing.Stock taking an unnecessary beating for nothing based on more good results.
Comment by pole — March 23, 2016 @ 8:21 am
Yes, pole, I agree…and indeed the last time WRR did this, I called David right away and expressed my frustration…he committed to doing better next time around, but to me he repeated the same mistake…the good thing is, the results are excellent, and the knee-jerk selling this time isn’t as strong as it was before…WRR will move rebound and move fwd but somebody needs to smack David real hard in the head…
Comment by Jon - BMR — March 23, 2016 @ 8:44 am
WRR – a nr after market open has nothing to do with a sell off. Look at aao today. I have seen nr’s come out at 2 pm. and the stock took off the last 2 hours. I do not buy into this theory.
Comment by dave — March 23, 2016 @ 10:21 am
I agree BMR, this is probably the time to start accumulating, so when was the time to start selling previously? I dont remember seeing a note on that TA, i must have missed it.
Comment by George — March 23, 2016 @ 10:33 am