Investors Get the Shaft From Gold Miners
Top notch forecasting with gold price forecast, many stock predictions, cryptocurrency charts. Gold mining stocks can go both directions from this point on. They now trade at the 2009 bottom, which coincides with the 2004 and 2005 bottoms.
In China, the banks are partially or totally government-owned. In December, the seven-day repo rate shot up to 9% from 4%. A credit boom needs more capital to keep growing, but it isn’t available any longer. That’s why borrowers are bidding up rates https://forexbox.info/ in the money market. Recently, this analyst on MarketWatch, with a track record forecasting markets, came out with a recommendation to buy gold mining stocksas they could double in 2017. His ultimate entry point was 19.50 to 22.00 in the GDX.
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We use the HUI gold mining index for our analysis, see below chart. The price of gold has plunged 22% this year, as investors anticipating an end to the Federal Reserve’s loose monetary policy sought out higher-yielding assets. But the carnage has been even worse for those seeking to benefit from investments in companies that mine the metal.
- But the carnage has been even worse for those seeking to benefit from investments in companies that mine the metal.
- In the U.S., Fannie Mae and Freddie Mac had government oversight.
- Above, a jewelry store in Taiyuan, China, last month.
This is an extremely important price level, and patience is the required at this point. Gold mining stocks arrived at a make-or-break level. It was only 6 months ago when everyone was convinced that the gold sector entered a new long term bull market. Nothing seemed to be further from the truth, and we sent a sharp warning in August, sayinggold was about to test the last resistance area of its bear market. Our warning was spot-on, as gold and miners went sharply lower as of that point.
DE EUROPESE BANKEN!
Currently, the GDX ETF is slightly below that level. If, and that’s a big IF, this price level gives away, gold miners will fall another what works on wall street review 30%, towards the lowest support level, see chart. Our own analysis shows that this is not a time to be in a haste to buy gold miners.
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Sixty peer-to-peer lenders went bust in recent weeks. Finally, at the end of a credit boom, you see a heavily state-directed financial and corporate sector. In the U.S., Fannie Mae and Freddie Mac had government oversight.
The equity selling bled into the Treasury market, sending the 10-year yield below 2.8 percent as investors sought havens. A selloff in technology shares sent U.S. equity benchmarks lower, with losses accelerating late in the day. Bonds surged on demand for safe havens, pushing the yield on 10-year Treasuries below a key level. The materials on this website may not be suitable for all investors mt4 on catalina and are not intended to be an offer, or the solicitation of any offer, to buy or sell any securities. This site is intended for information and illustrative purposes only and should NOT in any way be construed as a personal recommendation. You should seek professional advice if you are in any doubt as to whether any investment mentioned might be suitable for your individual circumstances.