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Great Atlantic Resources $GR.ca – Gold Heats Up And Silver Joins The Race $OM.ca $GGX.ca $GWM.ca $CNX.ca $SIC.ca $MOZ.ca $AGB.ca

Posted by AGORACOM-Eric at 11:06 AM on Tuesday, July 23rd, 2019

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GR: TSX-V
  • Next level for gold is $1500
  • Ray Dalio, Billionaire hedge fund manager pro gold
  • Potential interest rate cuts gold positive

Now that gold has broken through the $1,450 an ounce level, a six-high year high, the next big test is $1,500. And as I’ve said before, it can do this in the blink of an eye under the right conditions.

We may end up seeing those conditions emerge sooner rather than later.

Last Thursday, Federal Reserve Bank of New York President John Williams seemed to indicate that a rate cut could be expected later this month, saying that central bankers need to “act quickly” as economic growth cools. Although he later clarified his comment, claiming he was simply citing research and not forecasting central bank action, the price of gold jumped as much as 2 percent on the news before closing above $1,440 for the first time since May 2013.

Investors took some profits last Friday, knocking the price down around 1 percent after gold started to look overbought a day earlier. The metal was up two standard deviations over the past 60 trading days, its highest level since April 2016. I would consider each pullback such as this a buying opportunity, though, because I believe the best is yet to come for the metal.

Gold Price Up Two Standard Deviations

Gold Price Up Two Standard Deviations U.S. Global Investors

Ray Dalio seems to agree. In a lengthy post on LinkedIn—Dalio’s favorite platform for getting the word out—the billionaire hedge fund manager writes that he thinks we’re on the verge of a new economic paradigm shift and that central banks’ accommodative policies, from low rates to quantitative easing (QE), are unsustainable. To hedge against this, Dalio says, “I believe that it would be both risk-reducing and return-enhancing to consider adding gold to one’s portfolio.” Most investors are underweighted in gold, “meaning that if they just wanted to have a better balanced portfolio to reduce risk, they would have more of this sort of asset,” he writes.

A Monster Rally for Juniors

Select junior and micro-cap gold and precious metal miners also posted very strong growth over the past week, mostly on positive drilling results. In a press release dated July 15, Brixton Metals announced encouraging results at its wholly owned Thorn Gold-Copper-Silver Project in British Columbia. Gary Thompson, chairman and CEO of the Vancouver-based explorer and developer, said that Brixton “continues to unlock a mountain of value” at the property, which exhibits even greater mineralization than was previously thought.

Junior Miners Had a Strong Week

Junior Miners Had a Strong Week U.S. Global Investors

As for silver, I’m pleased to see that it’s finally playing “catch up” to gold, its price having hit a 52-week high after an incredible six straight days of gains.

Silver Is Trying to Narrow Its Gap With Gold

Silver Is Trying to Narrow Its Gap With Gold U.S. Global Investors

The Bullish Calls on Gold Continue

With gold having already broken out of its five-year trading range, is the best still yet to come?

I believe it is. And I’m not alone. Read what some analysts and strategists have to say:

Alpine Macro

“The Fed is getting ready to cut interest rates, which should set in motion a multi-year bear market in the dollar,” write analysts at Alpine Macro in a research note dated June 28. A weaker U.S. dollar is one of three “key ingredients” for a bull market, according to Alpine Macro, the other two being a more accommodative Fed and rising geopolitical risks.

“The technical break above $1,400 an ounce is a positive sign,” the firm adds. “New all-time highs for gold should be seen in the coming years.”

World Gold Council (WGC)

“The prospect of lower interest rates should support gold investment demand,” the World Gold Council (WGC) says in its mid-year outlook. “Our research indicates that the gold price was higher in the 12 months following the end of a tightening cycle. Moreover, historical gold returns are more than twice their long-term average during periods of negative real rates—like the one we are likely to see later this year.”

Canadian Imperial Bank of Commerce (CIBC)

“We continue to see no signs of rate hikes on the horizon over the next several years, and historically have seen gold continue on an upward trajectory beyond the last rate cut,” writes CIBC in a note dated July 14.

The bank points out that in two previous gold bull market cycles—in the 1970s and 2000s—negative real rates were the main contributing factor.

“During the last two major periods when real rates stayed below the 2 percent level and actually ticked into negative territory, the gold price moved over 320 percent in the 1970s… and approximately 400 percent from 2004 to peak in 2011.”

For full disclosures pertaining to this post click here.

Choosing Between Your Legacy And Your Mortality – A Father’s Lesson

Posted by AGORACOM at 7:33 PM on Friday, May 23rd, 2008
VS.

Paul Kedrosky, one of the best known business/technology/VC bloggers and colleague of mine, is probably one of the most “together” guys I know. Uber Smart + Successful + Renowned + Family Guy + Down To Earth … read about him here.

In short, he is just about everything a guy wants himself or his son to become (OK, I’d like to add in Super Bowl MVP but let’s not get crazy). To reach your pinnacle should mean the right to rejoice, celebrate, take a breather, give a speech and sleep in the next day…

…. but it doesn’t.

In a recent blog post he stated “I’ve started to feel scraped somewhat thin.”

WHY?

The great paradox of leaving a charmed life – the downside – is that the charms keep coming. You are so well respected, so well liked that opportunities abound. Business opportunities, social opportunities, personal opportunities, family opportunities you name it.

Things get better and better – to a point. Then, all of the opportunities start crashing into each other like multi-ball bonus pinball. Fun for a few minutes at the arcade with your buddies – but not fun when it becomes a prolonged way of life. You find yourself:

  • staying up all night reading and writing strategy documents
  • accumulating unthinkable air miles
  • shaking a million hands
  • meeting unbelievable people
  • bouncing around more great “ideas” then you could ever get to
  • dining at some of the finest restaurants in the world
  • forgetting what timezone you are in
  • ….and struggling to find time to do the things that really make you happy and healthy.
The situation is best summed up by Kedrosky’s statement “I’ve started to feel scraped somewhat thin..
Many have experienced it but few have actually written about it, let alone summon the advice of blog readers, which is exactly what Kedrosky did in this post back in March.

CHOOSING BETWEEN YOUR LEGACY AND YOUR MORTALITY

When you run into this situation, you are essentially being forced to choose between your legacy and your mortality. If you haven’t been there, it sounds simple enough. Hang out on the beach with your family and friends – but you have to be in the situation to understand that one is not possible without the other.

It is a blessing. It is a curse. It can’t be avoided any further. Your day of reckoning has come.

My response to Paul and excerpts from follow-up responses is re-produced in its entirety below. It came from my father long ago. It received a favorable response, so I’ve posted it here for you, for someone in the future asking the same question, for my children.

————————

Response #1

My father taught me a very valuable lesson a long time ago – everything you do comes with a price, so you have to decide early on what you are willing to pay for and what you are willing to leave on the shelf.

In your case, you appear to be struggling with choosing between the infinite amount of incredible opportunities in this web era and having the freedom to live an amazing life.

Both are incredibly rewarding but every moment spent on one takes time away from the other.

It is difficult to choose between your legacy and your mortality. You want to be a part of so many great ideas with so many great people – but everyday away from your kids/family/friends/self is a day you will never get back.

This is the burden of being successful and surrounding yourself with so many great people. You participate in so many great things but – at some point – you run into diminishing returns.

You are going to have to let some things go. Simple as that.

From the little I know about you, that will mean leaving some opportunity/money/legacy on the table and spending that time enjoying life. The hard part is choosing which initiatives you keep and which you discard.

Easier said then done? Yep … but my father did exactly the same thing and he is pretty much the happiest guy I know on the planet.

That’s the route I am taking.

Don’t know if my musings helped at all but that’s my two cents “in the spirit of the open way in which blogging works best.”

———————-

Follow-Up #1

Karthick, you are right that we all go through this “fatigue and rebound” phase…but there also comes a point in everyone’s life where you no longer want to go through this cycle.

Athletes retire. Entrepreneurs (the smart ones) scale back by picking their best 1 or 2 streams and leaving the rest on the table.

The person who leaves nothing on the table is more than likely the one with 1 or 2 ex-wives, detached kids and a big belly.

———————-

Follow-Up #2

Beau – well said. Most of all, be ruthless with your own desires and dreams.

Alex, thanks for the question. For the most part I think you go primarily with bread and butter (lowest risk) because they are easier to execute and enable you to live your life.

You can pick one “blue sky” item but that can only be something you do as a pet project and whose heavy lifting does not depend on you. Otherwise, you’re back to square one.

The notion of leaving so many things on the table utterly sucks. You’re surrounded by great people with great ideas that not only make money but also make an impact on the lives of others and further your legacy…but it has to be done or (as Beau said) you get consumed.

What an amazing thread. This needs to be the focus of further discussion. Paul could probably create a one-day conference out of this and it would be sold out. It’s obviously something on the minds of many people.

Is Paul Kedrosky the business version of Jerry Maguire? Can we all learn from the moral of the story? I think we want to. I know our families/bodies/souls want us to.

Utopia comes from leaving some happiness behind.

————————

“Utopia comes from leaving some happiness behind”. I don’t know where I came up with that but I hope it means I learned my father’s lesson well – and that my children will too.

Regards,
George