Observations

  • Last night’s trading session (Dec 29th) saw miners and companies alike rally quite significantly. These are DAILY movements and could confirm the mining and gold rally once certain trend lines are also broken:
    • Newcrest Mining +6.43% (Fig. 1)
    • Randgold Resources Limited +4.66% (Fig. 2)
    • Newmont Mining +7.6% (Fig. 3)
    • Silver Wheaton Corp +9.42% (Fig. 4)
    • Barrick Gold Corp +7.26% (Fig. 5)
    • These are the top holdings for BlackRock World Gold Fund (Fig. 6)
  • As mentioned before on Nov 23 – Gold Rally Crushed For Now & Opportunities, these were attractive prices for rebalancing and entry. The lows turned out to be around Dec 15th and since then there has been a good rally the last few days.
  • Silver Wheaton, the streaming company, was also mentioned in the update on Nov. 23, where its price was $18.32, today it is $20.22.
  • So the Precious Metals Sector is looking in good shape after a small rally, I will continue to monitor this trend and Fund price going into the new year.

 

Fig. 1 – Newcrest Mining Price Action 2016-12-29 (Source: TradingView.com)

 

Fig. 2 – Randgold Resources Ltd Price Action 2016-12-29 (Source: TradingView.com)

 

Fig. 3 – Newmont Mining Price Action 2016-12-29 (Source: TradingView.com)

 

Fig. 4 – Silver Wheaton Corp Price Action 2016-12-29 (Source: TradingView.com)

 

Fig. 5 – Barrick Gold Price Action 2016-12-29 (Source: TradingView.com)

 

Fig. 6 – BlackRock World Gold Fund Top Holdings (Source: BlackRock)

 

 

Best,
Michael