‪#Gold hit its all-time high of $1,980.57/oz. before falling back in London to $1,955. #Silver rose 6.4% to $26.19/oz. before retreating to $24.34.

Gold Takes A Pause Just Under $2000/oz. After Hitting Record Highs As #Dollar Halts Drop

"The volatility in precious metals and the dollar reflected caution about the US economy and uncertainty ahead of the Federal Reserve's next policy pronouncements on Wednesday.‬

‪"While traders generally doubt the Fed will turn to negative interest rates, some said it could adopt more unconventional measures such as yield curve control or setting upper limits on short-term Treasury yields."

Read the whole story on the FT here:
https://www.ft.com/content/a69367e8-1730-4836-9f14-0c20d615e006?utm_campaign=Feed%3A+MasterMetalsNews+%28MasterMetals+News+Feed%29&utm_medium=feed&utm_source=feedburner

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#Gold - Reaching near old time highs yesterday, but #MiningStocks were down 1.9%. $GDX had a reversal yesterday, which may signal a short-term top. $GLD $SLV $SIL $GDXJ $JNUG

Attachment 1 displays the 30-minutes gold spot price. The price reached intraday yesterday a high of US$ 1'898 per ounce. Since the beginning of this week, gold didn't get attacked by the Usual Suspects

 

The gold spot price has tested the all-time high London gold p.m. fixing of 2011 (US$ 1'895)(attachment 2). Technically this is a very important limit and most likely the gold price will consolidate but will try again to go over this technical target. The all-time high intraday was 1'917.90 per ounce in 2011.

 

Many so called gold Gurus always talk about US$ 2'000 per ounce as a resistance, but this is only a psychological barrier.  Technically this round figure is meaningless.

Although spot gold was up yesterday, gold stocks were down 1.9%. GDX (VanEck Vectors Gold Miners ETF), the largest gold mining shares ETF, had a reversal yesterday, which usually signals it has reached a short-term top.

 

Generally speaking gold remains in an uptrend. It might pause for a while but the chances are excellent for higher gold prices in the weeks to come.

The silver spot 30-minutes chart (attachment 4) shows silver reached a high of US$ 23.24 per ounce this week. But more important, it was able to break on the upside a 5-year consolidation pattern with a strong resistance point of US$ 21 per ounce. That level will now become the support level (attachment 5).

 

The largest silver miner ETF (Global X Silver Miners ETF), symbol SIL (US$ 45.50) had no steam left yesterday, despite firmer silver prices, and lost 2.7%. As in gold it signals a short-term consolidation period to come. However, the breakout in silver prices at US$ 21 is very strong and silver has definitely entered into a bull market, something gold achieved already in June 2019 when it broke out on the upside at US$ 1'380 per ounce. 

 

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MasterMetals

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American #RareEarths Producer #MPMaterials Raising $500MM via #SPAC & #PIPE In Growth Capital

The bankers are getting their product to market quickly.

MP Materials to merge with Fortress Value Acquisition Corp., SPAC-special purpose acquisition company- sponsored by an affiliate of Fortress Investment Group LLC.

The transaction includes a $200 million fully committed common stock private Investment in public equity (PIPE) deal at $10.00 per share, anchored by Slate Path Capital, Chamath Palihapitiya and Omega Family Office.

The merger is expected to be completed in the fourth quarter of this year and will be listed on the New York Stock Exchange under the new ticker symbol MP.

See the whole article on Forbes here: https://www.forbes.com/sites/jimvinoski/2020/07/17/american-rare-earth-elements-producer-mp-materials-is-going-public-and-raising-500-million-in-growth-capital/

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The Breakout in #Silver Seems To (Finally) Be Here! $SLV $SIL $PAAS $FSM $WPM $MAG $AG $FM

After underperforming #Gold for some time, Silver now looks to catch up... “Silver” #MiningStocks should do particularly well. Silver Miners in quotes, because for many, half of their production is from Gold and the base metals.

The Breakout in #Silver Seems To (Finally) Be Here! $SLV $SIL

MasterMetals Charts: Mining & Metals Charts
GDX, GDXJ, SIL, GLD, Miners, mining stocks, Gold, Silver, Copper, Palladium, Platinum

#Silver Making Up Lost Ground vs. #Gold As Prices Surge Past $20

Citigroup sees prices rising to $25 in the next six to 12 months, with the potential for $30 based on the bank's bull case.

Spot silver powered through $20 an ounce Tuesday and is trading near a four-year high. The cheaper metal has outpaced gold's own gains this month, and holdings in silver-backed exchange-traded funds have increased for 12 straight weeks to a record.

"Silver is now leading the charge"

https://www.bloomberg.com/news/articles/2020-07-21/it-s-silver-s-turn-to-shine-as-prices-surge-to-four-year-high?sref=VxHCy32x

#Gold #MiningStocks Are Hot. Everyone wants your hard earned dollars. Don’t get sucked in - keep your eyes on the prize. 💸

From Cambridge House: 

The gold market is hot.

A lot of companies are going to ask for your hard earned dollars. And trust me - they will all be "world class opportunities."

Don't get sucked in - keep your eyes on the prize.

There will be no shortage of deals. But it will be difficult to separate the top 5% from the rest.

You need to be extra careful not to be promoted into the next "can't miss deal". The FOMO of missing that great opportunity is real - nobody wants to be left on the sidelines watching other people make money.

But there is a far worse scenario - tying up your cash in "B Grade" companies, and having to take a pass when the "AAA" hits your desk because you are out of dry powder.

Missing a winner means you still have the cash in your pocket. Picking a looser means the opposite. Always remember - a new bus leaves every 15 minutes.

Will gold hit $2000? Probably. Will there be a terrifying correction first? Highly likely. If that occurs, I don't want to be loosing sleep because I made questionable decisions. 

More importantly, if that correction comes, I want to have cash on hand to take advantage.

Read the rest of the post on Cambridge House here.

In 2020 #Gold remains the best performing major financial asset in the world

In 2020 Gold remains the best performing major financial asset in the world, returning between 15.42% in CHF and 24.8% in GBP. (As of July 16, 2020)

Gold has had an incredible run over the last 15 years as measured in most major currencies.

Returns have averaged between 9-13.9%, with most averaging +10%. (As of July 16, 2020)

Gold Price Performance: Gold Price, USD, EUR, GBP, CHF, JPY, AUD, CAD, CNY, Gold

Just in the first two weeks of July, there have been 95 #TradeHalts on the #TSX, @tsx_tsxv ...some are repeats... $LI

Just in the first two weeks of July, there have been 95 #TradeHalts on the #TSX..some are repeats... $LI 

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