The Good Morning Report

The latest market news, commentary and strategy by Adrian Rowney 

5 Things that Grabbed my Attention

1. URNM the Uranium ETF that I have been banging on about is now up 50% since April this year....I think it may even be the best performing unleveraged ETFs in the world this year!

2. This is something very, very interesting to watch....GOLD and SILVER are trading at record premiums in Shanghai Vs COMEX - if sustained we could see WESTERN bullion reserves get drained even quicker. Bring it on!!!!

3. MET COAL is fetching US$321 a ton for October delivery....COAL stocks are set for a big re-rating. BadaBOOM!!...Also be proud of our COAL industry and the good it does in alleviating poverty of millions in Asia. Plus the wealthier they get - the better stewards of the environment they can become.

4. Biden Administration is planning on changing a 151 year old mining law to make companies pay royalties when extracting metals....The move will make it even harder to get projects off the ground which will be bullish for prices.

5. ECB increased interest rates from 4.25% to 4.5%.

ASX Market Update

ASX 200 up 32 points to 7186

Traders were pumping money into iron ore, uranium and coal miners as the underlying commodity prices continued to surge. URNM put on 4.29%, CRN added 4.17% and FMG rallied 4.13%.

Random Observation

If this is starting to happen with unemployment around record lows, imagine if people start losing their jobs?


Still wonder - will AirAlbo's cashed up economic replacements from overseas be enough to support our property market???

Turning to the ASX...AFR calling for our stock market to boom basically for the next decade all thanks to AirAlbo.


The Day Ahead

  • Our SPI is up 85 points
  • Bitcoin up 1.8% to $26,606

Movements affecting our resource stocks today (USD)

  • BHP in the US up 4%
  • Newmont up 0.66%
  • Gold FLAT @ 1932
  • Paper Silver down 1.1% to $22.92
  • Platinum up 0.62% to $910
  • Copper  up 0.65% to $3.82
  • Brent Crude up 2.45% to $94.13
  • Iron ore up 1.6% to $121.30

Asian Market Update

Japan up 1.4%, China added 0.11% and Hong Kong put on 0.21%

What's the bet our mining executives are completely clueless to this price action?...Every GOLD/SILVER/PLATINUM/COPPER mining company needs to quickly change tact and only sell just enough metal to cover expenses. Time to STOCKPILE!!!!!!


Global Market Update

US Market

DOW up 331 points to 34,907

All the focus in the US was around the ARM IPO which came on at a 24% premium....ARM is a chip design company.

But this below is probably the biggest story you are not hearing about....John is from the World Gold Council - it is a legitimate chart....I must admit - I'm getting excited!!

European Markets

Germans up 1%, Brits surged 1.95% and Froggies added 1.19%

ECB president Christine Lagarde announced another 0.25% interest rates hike to 4.5%.

'How dare you, we don't tolerate those sort of questions around here...My mandate has always been clear - to facilitate the 'safe and effective' movement of wealth from the working class to the top 1% and so far I have been extremely successful thankyou very much...Now, can someone send that rude far-right journalist off to one of our reeducation facilities? My patience is wearing thin".

Key Market Summary

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September 21, 2023.
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