Apologies for this issue coming out as late as it has. I’ve been down with a cold and on antihistamines for a week. I rarely catch colds, which might explain why I don’t write well when I’m drugged up. Several companies released news in the last 36 hours and, since the issue was late already I figured I’d better include them.  So, long update section again.

Gold continued to struggle since the last issue but copper made a comeback and other base metals at least held their own. The recent USD uptick hurt them a little, but base metals are pro-cyclical, so if things aren’t going well for gold near term, they should go better for copper and zinc.Traders have been a bit skittish in NY but strong earnings reports from a couple of the FANG stocks will probably put them at ease again. This still feels like a market that will keep going up, until it doesn’t. Hard to say what will end the party on Wall St but it may not be something anyone sees coming.

A new gold developer/explorer has been added this issue, in part because the gold sector is weak. That is the logical time to be shopping. 

Note the details about the next Metals Investor Forum on page four, including a live link to reserve your seat. It’s going to be a full house again, so don’t delay using that link.

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Gold continued to struggle this month. Sentiment in the gold space has been poor too. I think the main culprit is the complete lack of risk aversion. I’ve seen plenty of commentary lately about the USD doing damage to the gold price but that doesn’t seem like much of an argument when you look at the chart below

I noted in the last issue that the much discussed revival of the US Dollar wasn’t looking that impressive. That didn’t change until right before this issue was completed. The ECB had a meeting where it was decided, as expected that the European Central Bank would start tapering its bond purchases. This is the first step towards the ECB raising interest rates – eventually.