Good afternoon
export- as well as import price indices in the States very strong and higher than feared…as I said pretty often recently: I am amazed how the bond market deals with all these news…complacency, big time, in my opinion! I bought some more physical gold today - even though everybody else seems to buy bitcoin, which I refuse to understand. Probably too old-fashioned?? I just cannot get my mind around the concept!
Bonds are slightly weaker today, equities are higher again …new highs around the world….millions and billions are made everywhere - seems to be rather normal these days…absolutely crazy stuff!
Goldmans are still the mega-bulls…calling copper to 11.000 in 12 month, and 15.000 US$ /t in 2025….if that comes true, some of our stocks will continue to go through the roof big time! I don´t even dare to think about the Foran share price with copper at 15.000 - I guess the stock would be worth 10-12$ , once in production just in time for this boom! In any case, base metals are strong today…the A$ above 77ct against the US for the first time in a while.
Oil also very strong - IEA is more positive on demand, and inventories are falling in the States.
Gold stocks are behaving as if gold has bottomed…very strong across the board today in Australia.
Resolute - the Mining Lease for Bibiani has been restored - but with heavy conditions. In any case, the government does not accept the sale to the Chines. That leaves the balance sheet of RSG still in questionable condition…
Have a nice evening!
WS