The Good Morning Report

The latest market news, commentary and strategy by Adrian Rowney 

5 Things that Grabbed my Attention

1. GOLD in Chinese YUAN just hit an all time record high.

2. RFK Jr is running for US President...In Random Observation watch the clip of a key financial policy he wants to implement....I'd certainly vote for him if I was a Yank!!

3. Rio Tinto (RIO) cut production guidance for copper and aluminum....there is already bugger all supplies, so surely higher prices are coming which will more than offset lower volumes....BUY

4. Workers at Newmont's massive SILVER mine in Mexico are still on strike.....The overall SILVER deficit this year will be the largest EVER by a country mile and prices are still 50% below the all time high!!

5. Shipping costs from Shanghai to LA just popped 26%....pricing stability looks set to become a thing of fiction!

ASX Market Update

ASX 200 closed FLAT @ 7325

Aussie stocks gave up  earlier gains after the strong JOBS report had traders stressing out that another rate rise is coming next month.

We are now seeing the quarterly production reports come through from the miners. Stanmore (SMR) announced it is traveling along nicely with net cash on the balance sheet of $70 mil...SMR closed 5.8% higher to $2.73 BUY

Random Observation

Watch this clip from RFK Jr who is campaigning to become the next US President....Got GOLD?.... Got SILVER?.... Got PLATINUM? for Bitcoin - well that's up to you as I have no idea where it is headed. I wouldn't be surprised if it hit $100K, just like I wouldn't be surprised if it traded at $5K!

Next week I will show you JFK's executive order which would've stripped power from the FEDERAL RESERVE by using SILVER....Some say this led to his assassination in 1963.

The Day Ahead

#Newmont posted earnings that MISSED expectations due to rising costs and weaker output, thus the stock fell 5.8% on Wall Street....Likely to see Newcrest (NCM) also dip today as the companies are basically one in the same now that they have agreed to merge. I maintain my BUY on NCM.

  • Our SPI is up 7 points
  • Bitcoin down 1.2% to $29,698

Movements affecting our resource stocks today (USD)

  • BHP in the US up 0.5%
  • Newmont down 5.8%
  • Gold down 0.38% to $1973
  • Paper Silver down 1.7% to $29.94
  • Platinum down 2% to $964
  • Copper up 0.34% to $3.82
  • Brent Crude up 0.24% to $79.65
  • Iron ore up 2% to $115.20

Asian Market Update

Japan down 1.23%, Hong Kong off 0.13% and China fell 0.92%

APPLE shares are trading around a record high despite suppliers posting warnings like this....

Global Market Update

US Market

DOW up 163 points to 35,225

Tesla shares fell 9.2% after Elon said his company would slow EV production during the third quarter as they need to make factory improvements.

European Markets

Brits up 0.76%, Germans added 0.59% and Frenchies put on 0.79%

Fake news wants you to hate Vlad for a recent surge in Wheat prices.....

Sure, wheat futures have pushed about 15% higher this week....but prices are still about 43% lower than the peak hit in June last year....Fact is WHEAT is still extremely cheap when you consider the monetary debasement carried out by central bankers.

Key Market Summary

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September 21, 2023.
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