The latest market news, commentary and strategy by Adrian Rowney
(This one is especially for Tracy @ SuperEquity – enjoy the day!!!)
Editors note: I may have done this once or twice.
5 Things that Grabbed my Attention
1. SILVER hit a fresh all time high in AUD after it cracked $50/oz.
2. GOLD trading at 81 times the price of SILVER is absolutely ridiculous – history clearly shows that.
3. Seven times as much SILVER is mined over GOLD – yet GOLD is worth 81 times more!??! Insane.
4. In the London GOLD and SILVER vaults there is just 3.25 times the amount of SILVER compared to GOLD….There is not 81 times more available SILVER!
5. I think we are about to see SILVER rally far harder than GOLD….SILVER still needs to go up 47% to make a fresh record high in USD….BUY ETPMAG
ASX Market Update
ASX 200 up 61 points to 8344
Holy cow – what a session for us. I think it is the best one we have ever had as money poured into precious metals and the related miners….CHN rallied 16%, ETPMAG put on 6% (fresh all time high), and that little specky BML popped 30%. If only it was that easy all the time!
Random Observation
We are still so early in the move….
The Day Ahead
- ASX 200 futures down 53 points
- BHP in US down 1.49%
- Newmont in US down 0.26%
- URNM in US down 1.3%
Movements affecting our resource stocks today (USD)
- Gold FLAT @ $2729
- Paper Silver up 1.7% to $33.79
- Platinum down 1% to $1014
- Palladium down 2.48% to $1058
- Copper down 0.71% to $4.35
- Brent Crude up 1.63% to $74.25
- Iron ore FLAT @ $105.37
Asian Market Update
China up 0.2%, Hong Kong off 1.57% and Japan was FLAT
The People’s Bank of China (PBOC) cut interest rates by 0.25%. They took the one year loan prime rate down to 3.1% and the 5 year to 3.6%….With inflation still low in China and US$20 trillion parked in savings accounts, I think the PBOC will continue to cut in order to get some of that money moving.
Global Market Update
US Market
DOW down 340 points to 42,933 (with half hour to go)
Oh you don’t say….LOL!
European Markets
Germans off 1%, Brits down 0.48% and Frenchies fell 1%
Called it from the start that “green hydrogen” was an absolutely moronic idea. Even with generous government subsidies no one can make it work and you end up wasting an obscene amount of natural resources to make it happen…..GREEN = SCAM
Key Market Summary
