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The Good Morning Report – 26th April

Posted on April 26, 2024

The latest market news, commentary and strategy by Adrian Rowney 

#### Next week I’ll pick out the best Airbus Albo memes for your enjoyment….These authoritarian politicians in Australia wanting to censor us can get stuffed – it’s an important fight.

5 Things that Grabbed my Attention

1. Newmont surged 12.46% in the US on BETTER than expected quarterly earnings….Giddy up!!!

2. Potential mega M&A deal: BHP has lobbed a takeover bid for Anglo American.

3. Inflation in Australia came in much higher than economists expected…..I doubt normal Aussies were surprised as we’re all watching the purchasing power of our money dwindle in real time.

4. Chalice (CHN) upgraded the size of it’s giant palladium/platinum/nickel/copper/gold deposit by 18%….Market reaction – smash it 10% lower. Hahaha are you kidding me!?!?! BUY last sale $1.16

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5. Biden wants to implement a 44.6% capital gains tax (highest ever) and a 25% UNREALIZED tax on the rich….If this goes through, the exodus of wealth from America will be unprecedented.

ASX Market Update

ASX 200 SHUT for ANZAC DAY

I’m not joking – CHN upgraded it’s giant deposit by 18% and the market punished it!….This thing will fly once PLATINUM/PALLADIUM get a wriggle on. It is such a unique and strategic deposit. BUY last sale $1.16

Random Observation

Articles on Bloomberg warning about oversupply of URANIUM are very likely to be fake news….BUY URNM – the market is going to be tight for years!

The Day ahead

  • ASX SPI 200 down 51 points
  • Bitcoin up 1% to $64,926
  • BHP in US was down 3.43%
  • Newmont in US up 12.46%
  • URNM in US was FLAT

Movements affecting our resource stocks today (USD)

  • Gold up 0.24% to $2344
  • Paper Silver up 0.38% to $27.45
  • Platinum up 1.15% to $926
  • Palladium down 1.67% to $991
  • Copper up 1.93% to $4.54
  • Brent Crude up 1.36% to $89.22
  • Iron ore up 0.3% to $118.20


Asian Market Update

Japan up 1%, Hong Kong added 1.77% and China dipped 0.67%

It’s becoming quite clear to me that China is leaving the US for dead….

Global Market Update

US Market

DOW down 375 points to 38,085

NEWMONT shares surged 12.46% on massive volume as production for the quarter came in at 1.68 mil oz of GOLD vs 1.6 mil oz expected….All in costs are around $1400/oz so the world biggest GOLD miner is generating some healthy margins.

European Markets

Germans down 0.95%, Brits up 0.48%, Frogs fell 0.93%

This is just the beginning – Russia has a few hundred billion worth of assets to seize from the WEST…..At the end of the day it is all positive for GOLD because trust in the global financial system is taking a beating.

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