Author Archives: Steven Cochran

French Election Could Destroy the EU

April 21st, 2017 by

french-electionSunday’s presidential vote in France will be an election for the ages. euroskeptic extremists on the left and the right are both polling surprisingly well, and hope to draw enough voters from a fractured center to put them over the top.

Centrist candidates are putting forth populist or anti-immigrant plans, hoping in turn to woo enough voters away from the far-left or far-right to make the May 3 run-off.

This election has repercussions far beyond the borders of France. The fate of the European Union and the stability of Western Europe hang in the balance.

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The New Yukon Gold Rush

April 20th, 2017 by

© Clearviewstock | -

© Clearviewstock | –

Things are booming once again in the Yukon.

From 1897-1900, the Yukon Territory was the site of one of the most famous gold rushes in history. One hundred and twenty years later, rich strikes by junior gold mining companies in the Yukon have revealed that some of the largest gold deposits in the world.

This new bonanza has attracted the attention of the world’s largest mining companies and heralds the start of the new Yukon Gold Rush.

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balance of gold and dollar

Gold Settles Back Into Channel

April 20th, 2017 by

balance of gold and dollarGold prices are trending just below unchanged this morning, after dropping $9.40 yesterday to return prices to the $1,279 range. Geopolitical tensions over North Korea and a surprise call for elections in the UK helped gold test the $1,290 mark again earlier this week. Gold bulls were unable to push prices beyond that resistance level, and an easing of safe haven demand let gold fall back into its previous channel of $1,279 – $1,283.

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Gold Settles As Tensions Ease

April 19th, 2017 by

Precious metals are reversing their recent trends this morning, with gold giving back gains notched yesterday, after hitting a 5-1/2 month high. The platinum group metals have finally seen some bargain hunting, as both platinum and palladium are up around a half-percent in early New York trading. Silver is the odd man out this morning, continuing its downtrend.

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Russia May Seize Citgo’s US Oil Assets

April 17th, 2017 by

citgo-russiaThe woes of Venezuela’s state-owned oil company PdVSA exploded onto the Washington, DC political scene this week, when doubts surfaced that it could meet a $2.2 billion bond payment due on April 12.

Part of that total due last Wednesday included a payment on a $1.5 billion loan from Russian oil giant Rosneft. The Venezuelans put up a 49.9% stake in their US subsidiary Citgo as collateral. Had the Venezuelans not made that payment, the Russian government could have suddenly found itself the proud owner of 4% of America’s oil infrastructure.

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Gold Gains on Global Jitters

April 12th, 2017 by

Trump-NK-tweetGold prices are holding on to yesterday’s $20 in gains this morning, as tensions on the Korean peninsula ratchet ever-higher. North Korean dictator Kim Jung Un and US president Donald Trump continue to taunt each other in press releases and on Twitter, as a US Navy carrier battle group heads to the eastern coast of Korea. Gold is now trading at its highest level since before Trump’s victory in last November’s presidential election.

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Will 2017 Be A Semi-Key Date For Silver Eagles?

March 31st, 2017 by

American Silver Eagle sales for the first quarter of 2017 totaled a bit over 7.9 million coins, the slowest start since 2009. Considering that the first quarter is usually the most active time for Silver Eagle sales each year, current demand is pointing toward 2017 being the lowest mintage in at least six years. This poses the question: Will 2017 be a semi-key, or even key date for the American Silver Eagle?

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Gold Recovers On Brexit Declaration

March 29th, 2017 by

brexit-1462470589paaGold prices are trading near unchanged this morning, reversing early losses as British Prime Minister Theresa May officially triggered the process for the UK to leave the European Union. The pound and euro are both only modestly lower, while the jump in the beleaguered US dollar back above 100 on the DXY index is mostly from a set of upbeat economic data combined with oversold condition of the greenback.

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Far-Right Falls Short In Dutch Election

March 20th, 2017 by

dutchelectionsThe victory of the Liberal Party in last Wednesday’s parliamentary election in the Netherlands led to elation, if not jubilation, among establishment politicians throughout the European Union. The far-right Freedom Party (PVV), led by the incendiary Geert Wilders, did not gain as many votes as pollsters predicted, but still managed to gain five seats to become the second-largest party in the Dutch House of Representatives.

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Klondex Gets Gold Where Others Can’t

February 20th, 2017 by

klondexCanadian junior gold miner Klondex has transformed itself into a leader in narrow vein gold mining over the last five years. The company’s specialty is now buying failed mines from creditors, then returning them to profitability using that narrow vein expertise.

This focus has seen the company rise from the bottom of the junior mining heap on the Toronto Stock Exchange to the best performing stock on the S&P/TSX Composite Gold index, gaining 22% in the six months ending 2016.

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Gold Holds Highs As Stocks Falter

February 17th, 2017 by

Gold is trading at its Thursday highs this morning, bucking headwinds from a moderately higher dollar. Stocks opened lower this morning, as the market seems exhausted from its recent record-setting rally. The precious metals are seeing some safe-haven demand out of Europe today, as the possibility of the far-right politician Marine Le Pen’s chances of winning the French presidential election seem to be growing.

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Gold Pulled Down By Economic Data

February 15th, 2017 by

Precious metals ran into selling pressure this morning in New York, as a raft of economic reports surprised to the upside. Faced with evidence of a robust economy on several fronts, markets have doubled the odds of a March rate hike by the Fed. This sent the dollar and bond yields higher while weighing on gold prices.

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Yellen Erases Gold’s Gains

February 14th, 2017 by

Gold prices are volatile this morning, as safe haven demand duels with this morning’s Congressional testimony of Federal Reserve head Janet Yellen.

Spot gold was up as much as $10 an ounce in reaction to last night’s sudden resignation of President Trump’s National Security Advisor over his contacts with Russian officials before and after Trump’s victory in the 2016 Presidential election.

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