The Good Morning Report – 21st of June

1. Guzman y Gomez (GYG) surged 36% on day one of it’s IPO.

2. SILVER back above US$30….surely the shorts must be getting nervous.

3. Australian Retirement Trust just became a substantial shareholder in Regis (RRL)….This GOLD miner has become too cheap to ignore. BUY

4. Switzerland cut rates again.

5. The Czech National Bank (CNB) says it wants to increase it’s GOLD holdings from 40t to 100t….Swapping currency printed out of thin air for GOLD is always going to make plenty of sense to me.

ASX 200 FLAT @ 7769

Aussie investors were gorging on Guzman y Gomez (GYG) shares sending it soaring 36% on day one to close at $30 on the knocker. GYG is now a $3bn company making a couple of million, so the market is expecting some serious growth ahead…..I am letting it go through to the keepers – they have already had trouble rolling out stores in the US so it’s hard for me to pay a huge multiple with serious execution risk. Is GYG really going to be able to take on Chipotle?…..Maybe, maybe not….Gimme PALLADIUM any day of the week – at US $900 it is trading $200 below average cost of extraction!

Elon Musk looking into the future…

Meanwhile in CLOWN WORLD Australia we are facing another GAS shortage despite being a superpower in GAS….You couldn’t make it up!!

I say all energy gets diverted from the ritzy inner city suburbs across the country – they wanted this environmentally destructive, intermittent renewable energy.

  • SPI is up 12 points
  • Bitcoin FLAT @ $64,993
  • BHP in US up 1.1%
  • Newmont in US up 2.92%
  • URNM in US down 0.5%

Movements affecting our resource stocks today (USD)

  • Gold up 1.1% to $2372
  • Paper Silver up 4% to $30.75
  • Platinum up 0.95% to $986
  • Palladium up 3% to $916
  • Copper down 0.33% to $3.88
  • Brent Crude FLAT @ $79.21
  • Iron ore up 1.3% to $134

Japan up 0.16%, Hong Kong off 0.52% and China fell 0.42%

Listen to Nancy in India stirring up sh#t with the Xi Man.….Why is the old bag even making speeches over there?

Nancy will leave behind a legacy of lies and corruption. She’s a career politician who has inside-traded her way to a few hundred million in wealth.

DOW up 300 points to 39,134

NVIDIA shares fell 3.54% which was enough to see the S&P 500 and the NASDAQ close in the red. The DOW didn’t fall because NVIDIA is not a member of the index.

Germans up 1.03%, Brits added 0.82% and Frenchies put on 1.34%

The Swiss National Bank surprised the market by dropping rates 0.25% to 1.25% as they claim inflation is only running at a low 1.4%pa….All I hear about Switzerland, is that you will empty your wallet in record time because it is that expensive over there…..1.4% inflation…..yeah right!

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July 9, 2024.
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