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April Is ‘As Good As It Gets’ For Gold in Q2; But Don’t Worry – ICBC’s Kendall

Full Article: April Is ‘As Good As It Gets’ For Gold in Q2; But Don’t Worry – ICBC’s Kendall

By: Sarah Benali

(Kitco News) – Despite gold catching a bid late in the week, one analyst says investors should not get too excited as April might be ‘as good as it gets’ for the metal, at least for this quarter.

However, Tom Kendall’s outlook is not all that grim, noting in a report Friday that gold prices could hit $1,300 an ounce in the short term. The precious metals analyst for ICBC Standard Bank added though that pressure from higher interest rates coupled with softening seasonal demand from India will weigh on gold prices over the longer term

 

Full Article: April Is ‘As Good As It Gets’ For Gold in Q2; But Don’t Worry – ICBC’s Kendall

By: Sarah Benali

 

Disclaimer© 2010 Junior Gold ReportJunior Gold Report’ Newsletter: Junior Gold Report’s Newsletter is published as a copyright publication of Junior Gold Report (JGR). No Guarantee as to Content: Although JGR attempts to research thoroughly and present information based on sources we believe to be reliable, there are no guarantees as to the accuracy or completeness of the information contained herein. Any statements expressed are subject to change without notice. JGR, its associates, authors, and affiliates are not responsible for errors or omissions. Consideration for Services: JGR, it’s editor, affiliates, associates, partners, family members, or contractors may have an interest or position in featured, written-up companies, as well as sponsored companies which compensate JGR. JGR, it’s owner and affiliates/associates may buy/sell and trade the company’s stock written up/video created on from time to time. JGR has been paid by the company written up. JGR has been paid by the company written up. Thus, multiple conflicts of interests exist. Therefore, information provided herewithin should not be construed as a financial analysis but rather as an advertisement. The author’s views and opinions regarding the companies featured in reports are his own views and are based on information that he has researched independently and has received, which the author assumes to be reliable. No Offer to Sell Securities: JGR is not a registered investment advisor. JGR is intended for informational, educational and research purposes only. It is not to be considered as investment advice. Subscribers are encouraged to conduct their own research and due diligence, and consult with their own independent financial and tax advisors with respect to any investment opportunity. No statement or expression of any opinions contained in this report constitutes an offer to buy or sell the shares of the companies mentioned herein. Links: JGR may contain links to related websites for stock quotes, charts, etc. JGR is not responsible for the content of or the privacy practices of these sites. Release of Liability: By reading JGR, you agree to hold Junior Gold Report its associates, sponsors, affiliates, and partners harmless and to completely release them from any and all liabilities due to any and all losses, damages, or injuries (financial or otherwise) that may be incurred.

Forward Looking Statements
Except for statements of historical fact, certain information contained herein constitutes forward-looking statements. Forward looking statements are usually identified by our use of certain terminology, including “will”, “believes”, “may”, “expects”, “should”, “seeks”, “anticipates”, “has potential to”, or “intends’ or by discussions of strategy, forward looking numbers or intentions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results or achievements to be materially different from any future results or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts, and include but are not limited to, estimates and their underlying assumptions; statements regarding plans, objectives and expectations with respect to the effectiveness of the Company’s business model; future operations, products and services; the impact of regulatory initiatives on the Company’s operations; the size of and opportunities related to the market for the Company’s products; general industry and macroeconomic growth rates; expectations related to possible joint and/or strategic ventures and statements regarding future performance. Junior Gold Report does not take responsibility for accuracy of forward looking statements and advises the reader to perform own due diligence on forward looking numbers or statements.

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Why Mining Stocks Could Still Triple From Here

With gold prices up 25% year-to-date, hands down, gold has been the best-performing asset class to own in 2016 and I believe there is plenty of upside left for the precious metal.

While I started recommending gold as an investment in 2001, when the precious metal traded at less than $300.00 an ounce, I turned up the volume on “gold prices will rise” again in 2015, urging my readers to get some exposure to gold. I did a three-minute YouTube video on gold last year in which I predicted 2016 would be a great year for the precious metal. You can see the video when you click here. More than 50,000 people have seen it.

At the mid-year point, I see more and more people getting interested in gold. This will only push gold prices higher.

For instance, look at the U.S. Mint’s sales. Year-to-date, as of July 13, it has sold 516,500 ounces of gold in American Eagle coins. In the first seven months of 2015, gold sales in American Eagle coins were 443,000 ounces. (Source: “Bullion Sales/Mintage Figures,” U.S. Mint, last accessed July 13, 2016.)

Gold demand at the U.S. Mint is running at least 16.5% higher than the previous year. Mind you, 2015 figures include those for the entire month of July; 2016 figures only include the first 13 days of July.

We are seeing this phenomenon prevail around the globe. In the first five months of 2016, Perth Mint’s gold sales soared 46.3% compared to the same period a year earlier. (Source: “Perth Mint Gold and Silver Bullion Sales in May,” CoinNews.net, June 3, 2016.)

In Japan, we are seeing gold buying soar and it won’t be shocking if more of the same follows. According to Tanaka Holdings Co., the operator of Japan’s largest bullion retailer, precious metal sales skyrocketed 60% between May and June. (Source: “Japan’s Gold Sales Jump Thanks To Abenomics Worries,” Bloomberg, July 11, 2016.)

In Britain, after the Brexit vote, sales at the U.K.’s Royal Mint soared 32%. (Source: “Brexit fears prompting savers to stuff gold bars in safes at home,” The Telegraph, June 24, 2016.)

Looking at the bigger picture, there’s an abundance of uncertainty in the global economy. As a result of this, we are seeing wild swings in currency markets. Not too long ago, we saw the British pound tumble 10% in one day because the British voted to leave the European Union (EU).

We saw the Japanese yen take a hit too—thanks to the money printing of the Bank of Japan and the Japanese government.

As more investors and citizens start to realize the failed policies of world central banks (record-low interest rates and printing paper money out of thin air) have done more harm than good (wait until the inflation effects take hold) and as more countries issue government bonds with negative interest rate coupons, the more paper money will become worthless.

And when there’s a lot of wealth at stake, where will investors go? Gold works great when it comes to hedging against currency devaluation and uncertainty.

Gold Prices Outlook: Massive Gains Could Be Ahead

I can go on with a lot more examples of gold buying on the rise. Central banks continue to buy gold and major gold-consuming nations (India and China included) are buying as well. I expect sovereign wealth funds to starting getting into the gold market soon, too. Why? Because they have to hedge their portfolios.

I will end by saying this: I am extremely bullish toward gold prices. The yellow metal has been punished for all the wrong reasons over the past few years. Now investors are coming back to it. I am predicting a gold price of $2,500 to $3,000 an ounce sooner rather than later.

Dear reader, the shares of quality gold mining companies are still very attractively priced. If gold prices move to just $2,000 an ounce, we could see gold mining companies’ shares triple or quadruple in price.

Disclaimer © 2010 Junior Gold Report
Junior Gold Report’ Newsletter: Junior Gold Report’s Newsletter is published as a copyright publication of Junior Gold Report (JGR). No Guarantee as to Content: Although JGR attempts to research thoroughly and present information based on sources we believe to be reliable, there are no guarantees as to the accuracy or completeness of the information contained herein. Any statements expressed are subject to change without notice. JGR, its associates, authors, and affiliates are not responsible for errors or omissions.

Forward Looking Statements
Except for statements of historical fact, certain information contained herein constitutes forward-looking statements. Forward looking statements are usually identified by our use of certain terminology, including “will”, “believes”, “may”, “expects”, “should”, “seeks”, “anticipates”, “has potential to”, or “intends’ or by discussions of strategy, forward looking numbers or intentions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results or achievements to be materially different from any future results or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts, and include but are not limited to, estimates and their underlying assumptions; statements regarding plans, objectives and expectations with respect to the effectiveness of the Company’s business model; future operations, products and services; the impact of regulatory initiatives on the Company’s operations; the size of and opportunities related to the market for the Company’s products; general industry and macroeconomic growth rates; expectations related to possible joint and/or strategic ventures and statements regarding future performance. Junior Gold Report does not take responsibility for accuracy of forward looking statements and advises the reader to perform own due diligence on forward looking numbers or statements.

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Stock Market Elliott Wave Count, Economic Cycle and Equities Cycle

Stock Market Elliott Wave Count, Economic Cycle and Equities Cycle

As you know a picture is worth 1000 words so consider this short yet detailed post a juicy 2000+ word report on the current state of the stock market and economic cycle.

The charts below I think will help you see where the US stock market and economic cycles appear to be.

The first image shows two cycles, the blue one is the stock market cycle and which sectors typically outperform during specific times within the cycle. Here you will see that during the late stages of a bull market the safe haven plays become the preferred choice for investors – Energy and Precious Metals.

Typically, the stock market tops before the economic (business) cycle does. Why? Because investors can see sales starting to slow and that earnings will start to weaken and share prices will fall, so the market participants start selling shares before the masses see and hear about a weakening economy. The stock market usually moves 3-9 months before the economic cycle change I known by the masses.

oilandgold

Stock Market Topping According to Sector Analysis

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Elliott Wave Count – My Educated Guess

Elliott wave theory is a tough strategy to follow. Meaning, if you gave the same chart to 5 different people you would likely have 3 or 5 very different wave counts.

Recently I have seen a flurry of EW charts on the SP500 wave count which I do not think are correct. When I do Elliott Wave counts I like to use more than just price. I look into things deeper and use the market internals, volume flows, and overall market sentiment during those times. They must all be screaming extreme FEAR in the market in order for me to count it as a wave low.

Fear is much easier to read and time than greed. So based on waves of fear and I can plot the rest of the waves. By doing this, I feel it gives a truer reading of significant highs and lows we should use in our analysis.

See my analysis below for a visual…

ellietwavecount

Stock Market & Economic Cycle Conclusion:

In short, the current market analysis, in my opinion, is still very bearish and this could actually be the ultimate last opportunity to get short the market near the highs before we dive into a full blown bear market in the next 3-5 months.

I will admit, the market is trying VERY hard to convince us it wants to go higher as it flirts with the recent highs for its second time in the past 8 months. I know it is doing its job because so many traders and investors are changing their tune from bearish to SUPER BULLISH.

I don’t see it that way JUST yet, but it could happen as the market can do and will do whatever it wants. But all my analysis (much more than what you see here) points to substantially lower prices over the next year.

To learn more and get my ETF swing trades and long term investing signals join me at www.TheGoldAndOilGuy.com

Chris Vermeulen