News - Prospector's Diary

Uranium tried to snatch the headlines this week courtesy of intervention by the US President, Donald Trump

  Uranium tried to snatch the headlines this week courtesy of intervention by the US President, Donald Trump, but it was a far richer American, Ray Dalio, who picked the winner when he said gold was the place to be in an unstable world. Ranked as the world’s 58th richest person with a fortune estimated at $US18.4 billion, Dalio is the founder of Bridgewater Associates, one of the world’s biggest investment funds, and not a person who has previously been associated with gold.

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The pendulum swung both ways on financial markets this week with gold relishing the prospect of a fall in US interest rates

The pendulum swung both ways on financial markets this week with gold relishing the prospect of a fall in US interest rates and base metals declining because lower rates signal slowing economic activity. Much of what’s just happened could set the tone for the rest of the year with the US expected to make deep cuts into its interest rates, especially if the trade war with China worsens.

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Iron ore and gold marched higher this week for different reasons

Iron ore and gold marched higher this week for different reasons and while a continuation of gold’s upward move seems assured, the first sign of an end to the iron ore boom came in the form of a forecast from a big bank that the commodities super-cycle has returned. Westpac, Australia’s oldest bank, said growth in the domestic Chinese economy coupled with the rise of India and Indonesia seemed poised to launch the next phase of the super cycle.

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Load up with gold and head for the hills or rush into industrial metals and oil

Load up with gold and head for the hills or rush into industrial metals and oil. That seems to be your choice from Monday, when a new financial year kicks off and we’ll know whether Trump and Xi shook hands and smiled – or not! The handshake the world wants to see could occur today or tomorrow when Chinese President Xi Jinping is expected to have a face-to-face meeting with US President, Donald Trump at the G20 summit in the Japanese city of Osaka.

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Australian gold bugs will forever remember June 20, 2019, as the day when the local gold price cracked the once unimaginable $2000 an ounce barrier

Australian gold bugs will forever remember June 20, 2019, as the day when the local gold price cracked the once unimaginable $2000 an ounce barrier – while showing every indication of going higher. The effect on gold stocks was electric, despite ample evidence that the $2000/oz mark had been in sight all years thanks to the combination of the China v US trade war and falling US interest rates.

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Good news in iron ore, gold and rare earths couldn’t spark investor enthusiasm in a week when most interest seemed to be in the negative effects of the China v US trade war

Good news in iron ore, gold and rare earths couldn’t spark investor enthusiasm in a week when most interest seemed to be in the negative effects of the China v US trade war and adjusting portfolios ahead the end of the financial year. So much negative sentiment might reasonably have been expected to have helped gold stocks move up further than they did, especially given the strong flow of funds into physical gold and exchange-traded funds.

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If Charles Dickens had not coined the expression “it was the best of times, it was the worst of times” in the opening lines to his epic Tale of Two Cities about 160 years ago

If Charles Dickens had not coined the expression “it was the best of times, it was the worst of times” in the opening lines to his epic Tale of Two Cities about 160 years ago, it would be a good way of describing events this week in the Australian gold sector. On the one hand, gold hit an all-time record of more than $A1900 an ounce, while on the other hand, three local gold miners suffered self-inflicted wounds that decimated their share prices.

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Rare earth stocks woke with a jolt this week

Rare earth stocks woke with a jolt this week, for the same reason iron ore stocks have been on fire. Both sectors are winners from the increasingly dangerous trade war which has pitted the US against China. The iron ore rally is well understood. It’s an event driven by a supply squeeze courtesy of problems in Brazil and demand-pull courtesy of China stimulating its economy to offset declining exports to the US.

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3rd Dec 2019

RRS Summer Series 2019 - Sydney Conference

One-day investor conference in Sydney on Tuesday 3 December 2019.

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