News - Prospector's Diary

“When the facts change, I change my mind, what do you do?” – a question credited to the great 20th century economist, Lord Keynes, and one which today’s investors should note as encouraging Covid-19 vaccine news floods financial markets.

“When the facts change, I change my mind, what do you do?” – a question credited to the great 20th century economist, Lord Keynes, and one which today’s investors should note as encouraging Covid-19 vaccine news floods financial markets. Gold, a favourite of many Australian investors, was first to feel the chill of a market shift with the price taking a $US100 an ounce hit, partly because of vaccine news and partly because of a modest increase in U.S. interest rates and a weakening of the U.S. dollar.

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Battery metals and rare earths could emerge as the big winners if Joe Biden is confirmed as the winner of the U.S. Presidential election

Battery metals and rare earths could emerge as the big winners if Joe Biden is confirmed as the winner of the U.S. Presidential election, though the more likely winner in the short term will be gold as market volatility rises until all votes are counted and legal claims resolved. With policies that clearly favour renewable energy over fossil fuels, a Biden-led government will accelerate the shift to electric cars, wind turbines and solar panels. Coal, oil and gas will be the big losers from the shift.

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Virus 1. Rest of the World 0. That’s the score on the first of two mega-issues which drove markets lower this week with virus gloom magnified by the uncertainty ahead of Tuesday’s U.S. Presidential election.

Virus 1. Rest of the World 0. That’s the score on the first of two mega-issues which drove markets lower this week with virus gloom magnified by the uncertainty ahead of Tuesday’s U.S. Presidential election. Australia, which has largely dodged the latest outbreak of Covid-19 that is restricting mobility in Europe and the U.S., did not evade the effects of international market turmoil, but the sell-off here was less severe and more of a correction than a crash.

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A “blue wave” in US politics could become a “green wave” for Australian investors with early signs of a significant recovery developing in the battery metals sector of the stock market.

A “blue wave” in US politics could become a “green wave” for Australian investors with early signs of a significant recovery developing in the battery metals sector of the stock market. Despite another 11-days of campaigning before the US Presidential election on November 3, early bets are being placed on lithium, nickel and graphite miners in the hope that the Democrat contender, Joe Biden, defeats Donald Trump.

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A lot was said this week, mainly at the delayed Diggers & Dealers mining forum in Kalgoorlie, but not much changed, except for a smattering of encouraging discovery and project development news.

A lot was said this week, mainly at the delayed Diggers & Dealers mining forum in Kalgoorlie, but not much changed, except for a smattering of encouraging discovery and project development news. The hothouse atmosphere of the conference (in a 37-degree hothouse environment of Kalgoorlie at the start of summer) smothered the reality of nervous financial markets praying for an end to the Covid-19 pandemic and that other confidence sapping event, the U.S. Presidential election.

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1+1 really can equal 3, sometimes. Which is one way of looking at the proposed Northern Star + Saracen merger that has launched a fresh wave of interest in gold, with mergers and acquisitions (M&A) expected to take centre stage over the next 12-months.

1+1 really can equal 3, sometimes. Which is one way of looking at the proposed Northern Star + Saracen merger that has launched a fresh wave of interest in gold, with mergers and acquisitions (M&A) expected to take centre stage over the next 12-months. Investor reaction to the Northern Star + Saracen deal has been impressively positive at what is shaping as a delicate time in the gold-price cycle as some central banks switch from buying to selling.

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Gold took a peek above $US1900 an ounce in the aftermath of this week’s Trump v Biden presidential debate as financial markets started to price risks associated with increased volatility ahead of a possible change of government in the U.S.

Gold took a peek above $US1900 an ounce in the aftermath of this week’s Trump v Biden presidential debate as financial markets started to price risks associated with increased volatility ahead of a possible change of government in the U.S. Despite sliding back to around $US1893/oz to still be well short of the record $US2067/oz reached in early August, it is the return of an upward price trend which should have investors revisiting their exposure to gold. The gold recovery was not the only significant market news this week, with market-moving events which included:

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Winners were hard to find on most markets this week as multiple uncertainties bruised investor confidence but a dive into the detail revealed a surprising number of upward moves and equally surprising upbeat views from leading investment banks.

Winners were hard to find on most markets this week as multiple uncertainties bruised investor confidence but a dive into the detail revealed a surprising number of upward moves and equally surprising upbeat views from leading investment banks. Best in class was undoubtedly Chalice Gold Mines, which continued its stellar run as analysts and investors gained a greater insight into its emerging Julimar platinum group metals (PGM) discovery near Perth.

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9th Feb 2021

RRS February 2021 Summer Series

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