Archive

December 5, 2024

Browsing

In this exclusive StockCharts video, Joe uses long-term views of the S&P 500 to explain how the market is positioned as we move into 2025. He uses Yearly and Quarterly Candles and describes why there is a risk of a pullback next year, and he also covers the recent strength in some of the Mag7 stocks. He presents some attractive new emerging base breakouts that are developing, and then goes through the symbol requests that came through this week, including DKNG, SONY, and more.

This video was originally published on December 4, 2024. Click this link to watch on StockCharts TV.

Archived videos from Joe are available at this link. Send symbol requests to stocktalk@stockcharts.com; you can also submit a request in the comments section below the video on YouTube. Symbol Requests can be sent in throughout the week prior to the next show.

When it comes to the stock market, each day is unique. As a result, it’s easy to get distracted and look from one area to another based on whims, which can leave you confused and unable to make any decisions — thus putting you in the dreaded state of analysis paralysis. And while going down that rabbit hole, you’d have missed out on several investing opportunities such as the one identified in this article—Salesforce.com, Inc. (CRM).

Start With a Big Picture View

Here’s an example of how you can view the big picture of the stock market and narrow down your choices to one or two stocks or exchange traded funds (ETFs) to add to your portfolio.

When the stock market opens, a quick sweep of the Market Summary page gives you an idea of which areas of the market are up or down. On Wednesday, technology stocks were trading higher, as were precious metals and cryptocurrencies. Volatility was still low, and several market breadth indicators suggest that breadth is expanding. Overall, investor sentiment was bullish.

Identify the Leading Sector

Given that technology stocks were the leaders on Wednesday morning, I viewed the daily chart of the Technology Select Sector SPDR ETF (XLK). Sure enough, XLK gapped up and was at an all-time high.

FIGURE 1: DAILY CHART OF TECHNOLOGY SELECT SECTOR SPDR ETF (XLK) A series of higher highs and trading higher than the November 7 close indicates that this sector is trending upward.Chart source: StockCharts.com. For educational purposes.

Since its August low, XLK has been trending higher with a series of higher lows and higher highs. It has also surpassed its November 7 close of 234.86. Digging deeper into Technology sector using the Sector Summary tool, it was clear that the main reason for the gap up in XLK was due to the earnings report from Salesforce.com after Tuesday’s close.

How to Trade CRM Using Options

The daily CRM chart below shows that the stock had its ups and downs. However, since November 7, when the StockCharts Technical Rank (SCTR) score crossed above 70 (top panel), CRM’s stock price has been trending higher, although in a volatile fashion.

FIGURE 2. DAILY CHART OF SALESFORCE STOCK (CRM). The stock is trending higher and is above its 21-day exponential moving average, the SCTR score is at 94.4, and the RSI has crossed above 70.Chart source: StockCharts.com. For educational purposes.

CRM’s stock price has held on to the support of its 21-day exponential moving average. The relative strength index (RSI) has also crossed above 70, indicating the stock is gaining strength. Overall, the stock looks like a potential buy, but with the stock trading at around $360, it’s a little steep to own a significant number of shares.

An alternative is to trade options on CRM. Using the OptionsStrategy tool, I identified an optimal options strategy. Give it a try using the following steps:

  • Below the chart of CRM, in the left menu bar, select Options (under Tools & Resources).
  • Click the OptionsPlay button that’s above the options chain table.
  • Since my bias is bullish, I look for strategies that fall under the bullish category.

In the screengrab below, you can see the difference in the cost of buying 100 shares of CRM vs. buying the call vertical spread. Both have a bullish OptionsPlay score, but the vertical spread costs much less. Let’s explore putting on a call vertical spread in CRM. A call vertical spread is when you buy and sell two call options that have the same expiration date and different strike prices.

FIGURE 3. OPTIMAL OPTIONS STRATEGIES FOR CRM. The call vertical spread presents the better risk/reward tradeoff. Plus you’d end up paying less than purchasing 100 shares of CRM.Image source: OptionsPlay Strategy Center in StockCharts.com.

Click the icon at the top right of the call spread card (expand button). This shows more trade details, such as the target price, expected profit, and expected return. The Strategy & Greeks tab explains the strategy.

FIGURE 4. STRATEGY DETAILS OF THE CALL VERTICAL SPREAD. Here, you see the max reward, max risk probability of profit, and other details. The Strategy & Greeks tab provides a summary of the strategy.Image source: OptionsPlay Strategy Center in StockCharts.com.

If you’re going to place the trade, it helps to take screenshots of these different tabs, so you know when you’ve hit your max profit.

Putting On an Options Position

All this looks favorable, so I’ll click the Trade button, copy the trade to my broker’s platform, and wait patiently for the next 44 days. In the meantime, I have my trade details saved so if I reach my expected profit, I’ll close the position.

You can’t expect things to work out as expected. Things change, and if the trade goes south, I’ll have to decide whether to roll the position to a future date or take the loss.


Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

Octava Minerals Limited (ASX:OCT) (“Octava” or the “Company”), a Western Australia focused explorer of the new energy metals antimony, REE’s, Lithium and gold, is pleased to report that exploration drilling at its 100% owned Yallalong antimony project in the mid-west of Western Australia is on track and progressing as expected. In addition, the planned two metallurgical core drill holes are now complete, with samples on their way to Perth to undergo testwork in coming months.

Highlights

  • Exploration drilling at the Yallalong antimony project in the mid-west of WA is on track and progressing as planned.
  • Drilling at the Discovery antimony prospect, where historic drilling recorded significant high-grade intercepts including 7m @ 3.27% antimony (Sb) is almost complete.
  • The rig will shortly relocate 2km north along strike to the second antimony target, Central, and commence drilling.
  • Field observations have confirmed the presence of antimony mineralisation in drill holes as expected.
  • Completion of two metallurgical core test holes at the Byro REE/Li project with samples to be submitted for chemical analysis followed by minerals extraction studies by CSIRO.

Octava’s Managing Director Bevan Wakelam stated; ”Drilling is going well at our Discovery antimony prospect and progressing as planned. The team onsite have observed antimony mineralisation in drill holes at the Discovery target, which we will get to the laboratory for determination of antimony grades. The results are expected to be available early in the new year. We are also looking forward to testing the second antimony target at the Central target, which has not been drilled tested before. In addition, core hole drilling is now complete at our Byro project, we are looking forward to getting the metallurgical recovery test work on these samples underway at the CSIRO.”

Discovery Antimony Target

Drilling is progressing well at the Discovery antimony target with around 75% of the planned drill holes now completed. In the next few days, the drill rig will relocate to the Central antimony target, 2km north and commence drilling 9 maiden drill holes, down to a depth of approximately 120m, the prospect at Central has not been drill tested before.

Results from the drill program are expected to be available early in the new year.

Byro REE Project

Drilling of two metallurgical core holes at the Byro Project has been completed on time and on budget and the core samples are on their way to Perth. Over the next couple of months, these samples will undergo chemical and mineralogical analysis and beneficiation tests, followed by metals extraction testwork with the CSIRO.

Click here for the full ASX Release

This post appeared first on investingnews.com

GreenTech Metals Ltd (ASX: GRE) (GreenTech or the Company) is pleased to announce a second stage drill program at the Whundo Cu-Zn project in the West Pilbara region, which is anticipated to commence in the coming weeks.

Highlights

  • GreenTech has finalised plans for the second stage drill program comprising up to 4,000m of diamond core drilling at its 100% owned Whundo Cu-Zn project in the West Pilbara
  • The stage 2 program aims to confirm potential for significant resource expansion at the Whundo cluster of VMS style Cu-Zn deposits
  • Drilling will focus on extending the under-explored mineralised shoots at Austin, Shelby, Yannery and Ayshia
  • Drilling to be followed by downhole electromagnetic (DHEM) surveys aimed at identifying further extensions to the Cu-Zn mineralised shoots
  • Identified DHEM conductor targets associated with the known mineralised shoots present potential to significantly increase existing Cu-Zn resources
  • Drilling contractor Topdrill has been engaged to commence in the coming weeks
  • Drilling is funded by recently completed $2.3M placement, $1M drill for equity agreement with Topdrill and an EIS grant of up to $140,000 from the WA Government1

GreenTech’s Executive Director, Tom Reddicliffe, commented: “Following hot on the heels of a successful first stage of drilling, this next campaign will get underway this year to further test potential extensions to the mineralised shoots comprising the Whundo VMS cluster. In particular, we eagerly await the outcome of testing the exceptional Shelby conductor which eclipses other targets in the field with respect to its scale. This target is a clear standout and will be a priority to be drilled. Given the nature of VMS clusters, and the multiple opportunities for resource growth we believe a project with around 10-15Mt would make a significant difference to the economics of the Whundo Copper project and represents a potentially achievable target for exploration going forward.” 

The program aims to confirm potential for significant resource expansion at the Whundo cluster of VMS style Cu-Zn deposits and is a follow-up to the successful first program of 1,710m completed in July 2024.

This second drill campaign will comprise up to 4,000m of diamond core drilling, with follow- up downhole electromagnetic (DHEM) surveys planned for selected holes. The results of the DHEM surveys will assist in the planning of follow-up drill holes which may be drilled as part of this program.

Whundo VMS Field

The Whundo Project comprises six known mineralised Cu-Zn shoots, typically plunging to the north at 30 – 40 degrees. These mineralised shoots, known as Whundo East, Whundo West, Austin, Shelby, Yannery and Ayshia, occur within a defined generally northeast trending zone over a strike of 2km. A further combined 2km of this prospective zone remains open to both the west and the east of the known mineralisation within the tenement. The close spatial relationship between the known mineralised shoots with respect to plunge and thickness of mineralisation suggest these are potentially part of a large VMS type mineralising event which remains open along strike and at depth.

Click here for the full ASX Release

This post appeared first on investingnews.com

Platinum is the third most traded precious metal in the world after gold and silver, and investment demand is growing.

It is also an industrial metal that is widely used in a variety of sectors. The four main uses of platinum are in catalytic converters for the automotive industry; as a material in jewelry; in industrial applications in various sectors including fertilizers, hard drives, electronics, and glass manufacturing; and in medical devices and pharmaceuticals.

The long-term outlook for platinum is strong, making the sector potentially compelling for investors. Here’s a brief overview of platinum supply and demand dynamics, as well as a look at a few different ways to start investing in platinum.

In this article

    What is platinum?

    Platinum is a silvery-white precious metal that is soft and ductile. It is highly prized for its durability and excellent catalytic properties, such as a high melting point, resistance to corrosion and simple acids, and ability to serve as a carbon monoxide oxidation catalyst. Platinum’s symbol on the periodic table of elements is Pt.

    Platinum is the most abundant and widely used of the platinum-group metals (PGMs), which also includes palladium, rhodium, iridium and other metals.

    Platinum is not typically mined on its own, but rather alongside palladium and other PGMs within nickel and copper ores or chromitite.

    Platinum demand trends

    Platinum’s diversity of applications has helped to create a resilient market for this metal even in an economic downturn. Total platinum demand for 2024 is expected to come in at 7.95 million ounces, mostly on par with the previous year’s figure, according to the World Platinum Investment Council (WPIC), which provides quarterly market overviews. The WPIC is projecting a mere 1 percent decline in platinum demand for 2025 to 7.86 million ounces.

    The four biggest demand sectors for platinum are automotive (40 percent), industrial (31 percent), jewelry (25 percent) and investment (5 percent).

    For 2025, WPIC expects to see a slowdown in demand from the industrial sector to be mostly offset by increased demand for platinum coming from the automotive, jewelry and investment sectors.

    Automotive

    In the automotive industry, both platinum and palladium are used in catalytic converters for vehicle exhaust systems. Due to their differing properties, platinum is preferred for diesel engines and palladium is the metal of choice for gasoline engines.

    In recent years, platinum has been increasingly substituted for palladium in gas-powered vehicles due to high prices for palladium. And although the price disparity has decreased, analysts expect that the substitution trend will continue for some time.

    Another important factor impacting this segment of the market is the emerging market for electric vehicle (EVs), which do not require catalytic converters to control emissions. The global slowdown in EV sales and production has proven positive for platinum.

    Demand from this sector is expected to decline by 2 percent year-on-year in 2024 to 3.17 million ounces as global auto sales and production are in decline, especially in Europe. For 2025, the WPIC is forecasting 2 percent growth to 3.25 million ounces, an eight-year high in platinum demand from the automotive sector.

    Industrial

    Demand from the industrial sector is forecast to have dropped 1 percent in 2024 to 2.43 million ounces due to a slowdown in chemical plant start-ups after “five years of aggressive capacity expansions in China.” Looking into 2025, the council sees “cyclically weak” platinum demand coming from the industrial sector, resulting in a forecasted 9 percent year-on-year decline largely caused by ‘negligible new glass capacity additions.’

    Jewelry

    Global jewelry consumption is projected to grow by 5 percent in 2024 to reach 1.95 million ounces, followed by a 2 percent gain in 2025. Regionally, demand growth is centered in India and the United States as platinum becomes a much more affordable option compared to gold.

    Investment

    Looking over to investment demand for platinum, in 2024 WPIC expects a 1 percent drop in over the previous year to 393,000 ounces of the metal. However, that trend is set to reverse in 2025 for a growth rate of 7 percent on strong platinum ETF inflows and the launch of new products including platinum bars at Costco in the US and platinum coins by China Gold Coin Group in China.

    Hydrogen

    In recent years, the transition to a green economy and the growth of hydrogen technologies has created another growing market for platinum. The WPIC has noted that the hydrogen market, specifically proton exchange membrane electrolyzers and hydrogen fuel-cell electric vehicles, is expected to become ‘a meaningful component of global demand by 2030 and potentially the largest segment by 2040.’

    For now, the hydrogen sector represents 1 percent of total platinum demand in 2024, up from 0.4 percent in the previous year.

    Platinum supply trends

    The platinum market is destined to remain in a supply deficit for a third-straight year in 2025, according to WPIC estimates, with a shortfall of 539,000 ounces of the metal. However, the demand-supply imbalance in the platinum market is narrowing from a deficit of 759,000 ounces in 2023 as increased recycling production — up 14 percent — offsets 2 percent declines in mine output. Analysts are forecasting a net increase of 1 percent in total platinum supply for 2025 to 7.324 million ounces.

    The projected 2 percent decrease in mined platinum supply is attributed to expected lower production out of South Africa and North America.

    South Africa is by far the leader in terms of mined platinum production and reserves, according to US Geological Survey data, accounting for about 67 percent of global output. The country’s Bushveld Complex is the largest PGM resource in the world. However, ongoing electricity shortages and transport line disruptions have restrained platinum mine output from the country in recent years.

    How to invest in platinum

    Investors who believe the above market dynamics will eventually result in a higher platinum price may be interested in investing in the metal. There are several ways to invest in platinum, from platinum mining stocks and platinum ETFs to physical bars and coins and platinum futures.

    Platinum stocks

    One way to invest in platinum is to own shares of a platinum-mining company. Depending on your risk tolerance, both major platinum miners, junior exploration companies offer an easy entry point.

    Major platinum mining stocks

    Anglo American Platinum (OTC Pink:AGPPF,JSE:AMS)
    Anglo American Platinum, or Amplats, is a leading primary producer of PGMs, supplying mined and recycled platinum products. The company operates the Mogalakwena mine, Amandelbult complex and Mototolo mine in South Africa’s Bushveld Complex. Its parent company, Anglo American (LSE:AAL,OTCQX:AAUKF), is planning to demerge Amplats in mid-2025 as part of its ongoing restructuring efforts, after which Amplats will list on the LSE.

    Eastern Platinum (TSX:ELR,JSE:EPS)
    Eastern Platinum, or Eastplats, has a number of directly and indirectly owned PGM assets in the Bushveld Complex of South Africa. In addition to its ongoing work recovering chrome from historical tailings, Eastplats is now ramping up production of PGM and chrome concentrates at Crocodile River’s new Zandfontein underground mine. The company expects PGM revenue to make up at least 65 percent of its revenue in 2026.

    Impala Platinum Holdings (OTC Pink:IMPUF,JSE:IMP)
    Impala Platinum Holdings, or Implats, is one of the most prominent platinum producers in the world. The company has majority ownership or joint ventures in four PGM mining operations in South Africa along with a refining facility, two PGM mining operations in Zimbabwe along with a concentrator, and one PGM mine in Ontario, Canada.

    Tharisa (OTC Pink:TIHRF,LSE:THS,JSE:THA)
    Tharisa is a vertically integrated PGM company, and through its subsidiaries its operations span from exploration through to production, beneficiation and distribution. Tharisa’s PGM assets include the Tharisa platinum-chrome mine in South Africa’s Bushveld Complex and the Karo platinum mine, which is now under construction in Zimbabwe.

    Sibanye Stillwater (NYSE:SBSW)
    Sibanye Stillwater has a diverse metals mining portfolio and is one of the world’s largest primary platinum and palladium producers. It recently adopted a circular economy business model that includes platinum recycling. The company has numerous PGM operations in South Africa and the United States. Its US Stillwater and East Boulder operations are in Montana’s Stillwater Complex, the country’s largest source of PGMs.

    Junior mining stocks

    Bravo Mining (TSXV:BRVO,OTCQX:BRVMF)
    Bravo Mining is advancing its wholly owned Luanga PGM-gold-nickel exploration project in the Carajás Mineral Province of Brazil. The project has a maiden mineral resource estimate showing indicated resources of 4.1 million ounces of palladium equivalent at 1.75 grams per metric ton (g/t) and inferred resources of 5.7 million ounces at 1.5 g/t.

    Canada Nickel (TSXV:CNC,OTCQX:CNIKF)
    Canada Nickel Company is advancing its wholly owned flagship Crawford nickel-cobalt sulfide project located in the Timmins-Cochrane mining camp of Ontario, Canada. The project also hosts significant platinum and palladium mineralized zones.

    Canada North Resources (TSXV:CNRI,OTCQX:CNRSF)
    Canada North Resources wholly owns the late-stage Ferguson Lake exploration project in the Kivalliq Region of Nunavut, Canada. The polymetallic project hosts base metals nickel, copper and cobalt as well as PGMs.

    Chalice Mining (ASX:CHN,OTC Pink:CGMLF)
    Chalice Mining owns the Gonneville development project in Western Australia. The project hosts a mix of metals, including platinum, palladium, nickel, cobalt and copper. The Western Australia government has designated Gonneville a Strategic Project in recognition of the project’s importance for the country’s critical metals industry.

    Clean Air Metals (TSXV:AIR)
    Clean Air Metals is focused on its wholly owned exploration-stage Thunder Bay North critical minerals project in the Thunder Bay region of Ontario, Canada. The project hosts platinum, palladium, copper and niobium mineralization.

    Lifezone Metals (NYSE:LZM)
    Lifezone Metals has developed a hydrometallurgical processing technology, which it calls Hydromet Technology, as a cleaner alternative to smelting for base and precious metals refining. The company has a joint venture partnership agreement with Glencore (LSE:GLEN,OTC Pink:GLCNF); Lifezone will use its Hydromet Technology to recycle platinum, palladium and rhodium in the United States, and Glencore will act as the offtaker and marketer. Lifezone also owns the Kabanga nickel-copper-cobalt project in Tanzania.

    Platinum Group Metals (TSX:PTM,NYSE:PLG)
    Platinum Group Metals is working to bring into production its advanced-stage Waterberg palladium and platinum deposit in South Africa. First discovered by Platinum Group Metals, the project is now a joint venture with key partners that include Implats at 14.86 percent. Platinum Group retains a 50.16 percent position in Waterberg and will be the majority operator.

    Ramp Metals (TSXV:RAMP)
    Ramp Metals’ flagship project is the early-stage exploration Rottenstone SW property in Saskatchewan, Canada. It is situated adjacent to a northeast-southwest geological formation connected to the historic Rottenstone mine, which produced nickel, PGMs and gold.

    Platinum bars and coins

    Another investment option is the direct purchase of physical platinum bars or platinum coins through a bullion dealer.

    One example is BullionVault’s online physical platinum market, which is supported by the WPIC, and gives private individuals access to vaulted platinum for the same prices currently paid by institutional investors. The market is open 24 hours a day, seven days a week.

    Investors in the United States can also now buy 1 ounce platinum bars and coins at Costco, an option you can learn more about here.

    Platinum ETFs

    Those interested in platinum can also gain exposure via platinum exchange-traded funds (ETFs) and exchange-traded notes (ETNs). Here are a few to get you started.

    iShares MSCI Global Metals & Mining Producers ETF (NYSE:PICK)
    The iShares MSCI Global Metals & Mining Producers ETF provides investors with access to the global mining industry through an international basket of companies engaged in the extraction and production of metals, including platinum. Its holdings include Implats, Anglo American and Sibanye Stillwater. It has the lowest expense ratio on this list at 0.39 percent.

    Aberdeen Physical Platinum Shares ETF Trust (ARCA:PPLT)
    The Aberdeen Physical Platinum Shares ETF is designed to reflect the performance of the price of physical platinum less the trust’s expenses and holds platinum bars in a secure vault. It has an expense ratio of 0.6 percent.

    Sprott Physical Platinum and Palladium Trust (ARCA:SPPP)
    The Sprott Physical Platinum and Palladium Trust is another option that provides access to the physical platinum bullion market while allowing the flexibility of an exchange-traded security. It has the highest expense ratio on this list at 1.12 percent.

    GraniteShares Platinum Trust (ARCA:PLTM)
    The GraniteShares Platinum Trust tracks the spot price of platinum less trust expenses, and holds a physical portfolio of platinum ingots kept in a vault in London, UK. It has an expense ratio of 0.5 percent.

    Global X Physical Platinum (ASX:ETPMPT)
    Global X Physical Platinum provides Australian investors access to platinum held in JP Morgan storage facilities. It has a management fee of 0.49 percent.

    Platinum futures

    Another option for those looking to invest in platinum is platinum futures, a derivative instrument tied directly to the price of the actual metal. Futures are a financial contract between an investor and a seller. The investor agrees to purchase an asset from the seller at an agreed-upon price based on a date set in the future.

    Rather than intending to take possession of the material asset, investors speculating in the futures market are instead making bets on whether the price of a particular commodity will rise or fall in the near future.

    For example, if you buy a platinum futures contract believing the price of metal is set to rise, and your prediction proves correct, you could gain a return on your investment by selling the now more valuable futures contract before it expires. However, be advised that trading futures contracts is not for the novice investor.

    Platinum futures are available for trade on the New York Mercantile Exchange (NYMEX), which is part of the CME Group.

    Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.

    This post appeared first on investingnews.com

    Moderated by Thom Calandra of the Calandra Report, the precious metals panel at this year’s New Orleans Investment Conference featured several well-known gold analysts and market watchers.

    Omar Ayales, Rich Checkan, Jeff Deist, Avi Gilburt and Dana Samuelson took the stage for a 35-minute discussion that began with a discussion of the monetary value of gold and Bitcoin, as well as the liquidity pros and cons of both.

    For Deist, general counsel at Monetary Metals, it all comes down to a word he used frequently: “moneyness.”

    “Gold still has a degree of moneyness. (But) gold isn’t money in the sense that you can’t use it at the street retail level anywhere in the world — there’s no demand for that,” he told the audience at the show.

    “So when we talk about gold, or any other precious metal, it is a monetary asset. It has a degree of moneyness,” Deist went on to explain. “Bitcoin, I would argue, (also) has a degree of moneyness, treasuries have a degree of moneyness. And then there’s liquidity and a demand that may give them money-like properties.”

    From there, Calandra offered an anecdote about the difficulties associated with selling physical gold, prompting Ayales, chief trading strategist at Gold Charts R Us, to highlight the ease of monetizing cryptocurrencies.

    “Cryptos are so easily bought and sold, the platforms allow for that, (which) allows for the younger generation to be able to be more invested, whereas gold is a bit harder,” he said.

    ‘Unless you have a trading account, or you buy exchange-traded funds, or you have a coin dealer or somebody that you can buy directly from, it’s a little bit harder, especially if you want to sell.”

    Reciprocal gold theory

    Calandra then brought up reciprocal gold theory, which suggests that gold’s value is maintained through its relationship with currency and economic confidence, acting as a mirror reflecting the stability or instability of fiat money.

    According to reciprocal gold theory, as trust in fiat currencies diminishes — often due to excessive debt, inflation or poor monetary policies — the value of gold tends to rise, making it a reciprocal measure of confidence in the financial system. Essentially, gold’s worth is inversely related to the perceived strength of paper money.

    For Calandra, who believes in reciprocal gold theory, gold will eventually ‘pay back’ the gains seen in blue-chip stocks, like Fortune 1000 companies, noting that as stocks rise higher, gold remains undervalued.

    He noted that when these stocks decline, or confidence in them wanes, people may shift investments into gold. With that in mind, he asked panelists when investors will raise their gold allocations from 1 percent to 2 to 3 percent.

    For his part, Deist pointed out that North American investors have a different relationship with gold than investors in Turkey or India, where the average citizen owns more gold in the form of jewelry, dishware or physical coins.

    Deist expects North American investors to bolster their gold holdings soon.

    “I think we have to have a cultural shift where people under a certain age — as is happening right now — start to feel like some people in this room (felt) in the ’70s. You have a solid decade of seeing your paycheck and your savings eroded, and people are going to be looking for the exit,” he commented.

    Building on Deist’s thoughts, Dana Samuelson, president of American Gold Exchange, highlighted the differences between these countries and the US. “The gold cultures around the world are in countries where there’s either been war on their shores, or their currencies failed. It’s as simple as that,” he said.

    “We’ve never had either of those things happen, and until we do, I don’t think we’ll really have a true gold culture in the US on a very fundamental level, which almost every other country in the world has to some degree.”

    Weighing in, Rich Checkan, president and COO of Asset Strategies International, explained that while the media celebrates stock market highs, these are only nominal gains in “worthless” US dollars.

    In reality, when compared to gold, the market hasn’t reached true highs.

    “You look at the S&P 500 (INDEXSP:.INX) … with reinvestment dividends, over this millennium, it’s up a little over 500 percent, gold’s up over 800 percent in the same time period,” said Checkan.

    “If you measure the Dow Jones Industrial Average (INDEXDJX:.DJI) in gold, we’re not even to the point we were at during the.com bubble. The Dow is 60 percent of the way to the dot-com bubble. We’re not making new real highs.”

    Paper silver and price performance

    Turning the panel’s attention to silver, Calandra asked, “What, if anything, will ever be done about the massive short position in paper silver led by JPMorgan Chase (NYSE:JPM)?”

    According to many silver market commentators and watchers, this short position in paper silver refers to large-scale bets against the metal’s price using financial derivatives rather than physical metal.

    Critics argue that such positions can artificially influence silver prices by increasing selling pressure. While some suspect market manipulation, others see it as standard trading practice.

    Responding to Calandra, Avi Gilburt, lead analyst and founder of Elliott Wave Trader, said he expects JPMorgan and other institutes to cover their shorts. “Historically, when you approach the end of the cycle, silver is what brings up the rear,” said Gilburt, referring to a “massive spike” in silver in 2011 at the end of that cycle.

    Indeed, the white metal rose to an all-time high of US$48.12 per ounce in April 2011.

    Later in the discussion, Gilburt explained that he uses the KISS — keep it simple, stupid — method for market analysis, noting that markets top when people get too bullish, and when they are too bearish markets bottom.

    To know when the market is too bullish, Gilburt uses Fibonacci mathematics and Elliot Wave Trader “structures.”

    “When sentiment has reached a peak in the metals, it’s often when you see that final parabolic rally, when silver is also rallying parabolically alongside gold,” he said. “That’s how we look at it; we try to keep it as simple as possible.”

    Purchasing power

    Anyone familiar with Calandra is likely aware that he often refers to the purchasing power of gold.

    One way to measure this is via the gold/silver ratio. Calandra has also previously discussed how over the years an ounce of gold has consistently been the right price to buy a good-quality suit.

    During the precious metals panel, Samuelson offered a different metric, the gold/oil ratio.

    “One thing that’s come on my radar recently is the gold-to-oil ratio,’ he said.

    ‘If you go back to the ’80s, the gold-to-oil through 2008 was very consistently about eight to 10 parts oil equal to one part gold. And now that ratio has been up close to 40 to one.”

    Deist also referenced purchasing power when discussing rising US debt and higher Treasury yields, suggesting that increasing interest payments could destabilize the US financially.

    “Maybe gold is finally decoupling from all of these standard metrics we use, if we look at it only in terms of what it can buy, as opposed to looking at it nominally and looking at these parabolic rises,” he said. “Maybe the world is finally shrugging and saying the US dollar as the world’s reserve currency is an unsolvable problem.”

    Deist went on to point to the paradox created by countries using the dollar as a reserve currency.

    Countries need dollars for trade, so a dollar crash isn’t in their short-term interest. However, in the long term, there’s a desire for alternatives to the dollar due to US deficit spending and inflation.

    “As long as we have this intractable problem, America will always spend in deficits. It’ll always export inflation, it’ll always use the dollar to try to enjoy a living standard it hasn’t earned,” said Deist.

    Gold and silver price predictions

    The panelists also offered their forecasts for where precious metals prices may go.

    Moderator Calandra expects to see gold reach US$3,000 per ounce by the end of 2024.

    Samuelson made a more conservative prediction, explaining that he sees gold in a consolidation phase, trading between US$2,650 and US$2,750 to end the year, depending on geopolitical events.

    For 2025, he believes gold could reach US$3,500, while silver could hit US$40 to US$45 per ounce.

    Gilburt anticipates one more push higher for gold before a multi-month consolidation. In his view, the yellow metal will then reach a level of US$3,300 to US$3,400 after the consolidation.

    For Checkan, gold could rally to US$3,800 before the end of the current bull market, similar to previous bull cycles.

    Ayales sees gold potentially reaching US$4,000 by 2025, based on a parabolic move comparable to the 2000 to 2011 period. Deist didn’t offer a prediction, but sees gold potentially benefiting from a west-to-east wealth shift.

    Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.

    This post appeared first on investingnews.com

    China has set new US export restrictions on essential minerals, including gallium, germanium and antimony.

    The measures, announced on Tuesday (December 3) are seen as a direct response to US export controls aimed at limiting China’s access to advanced semiconductor technology. Citing national security concerns, the US recently expanded its list of companies subject to export controls to include 140 Chinese entities connected to semiconductor development.

    China’s Ministry of Foreign Affairs has criticized the US measures as excessive, saying they undermine global trade norms.

    Speaking after China’s retaliatory ban was made public, spokesperson Lin Jian said the Asian nation will take ‘resolute measures’ to safeguard the interests of its companies, framing the export curbs as necessary to protect national security and counteract what it considers the malicious suppression of its technological progress.

    The Chinese Ministry of Commerce said the export of the affected minerals, which are critical to the production of semiconductors, electric vehicles and other high-tech applications, will now require specific approval.

    Gallium and germanium are indispensable for the production of semiconductors used in mobile devices, solar panels and military applications. Antimony is utilized in flame retardants, batteries and certain weapons systems.

    Graphite is also mentioned in the ministry’s order, with stricter reviews of end usage needed for items sent to the US.

    China is the leading global supplier of these materials, dominating their production and export markets.

    China’s restrictions seen as retaliatory

    China’s decision intensifies a series of tit-for-tat actions between itself and the US.

    In mid-2023, China imposed licensing requirements for exporting gallium and germanium. US companies rely heavily on these minerals, with about half of the country’s gallium and germanium imports originating from China.

    This past August, China announced new export restrictions on antimony, effective in mid-September.

    The new US measures include controls on chip-making equipment, software tools and high-bandwidth memory chips — all aimed at curtailing China’s ability to develop advanced technologies with military applications.

    The Chinese government has labeled these actions as an abuse of national security considerations. Both sides justify their respective controls as necessary for safeguarding national security.

    Supply chain resiliency in focus

    Analysts anticipate that China’s critical minerals export ban will push businesses in the US to accelerate efforts to diversify their supply chains and explore alternative sources for these materials.

    The semiconductor, automotive and renewable energy sectors are expected to be most directly impacted.

    The US Geological Survey notes that while the US holds deposits of these critical minerals, domestic mining and production have been limited. Efforts to develop local sources are underway, but remain in the early stages.

    Ongoing tensions between the US and China have already influenced market dynamics, with prices for some minerals, including antimony, more than doubling this year.

    The US Department of Commerce has yet to issue a detailed response. However, previous statements highlight the Biden administration’s focus on securing supply chains for critical minerals.

    Recent initiatives, including the CHIPS and Science Act, aim to bolster domestic manufacturing capacity and reduce reliance on foreign suppliers.

    Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

    This post appeared first on investingnews.com

    Amnesty International on Wednesday said that it had gathered “sufficient evidence to believe” that Israel’s conduct during the war in Gaza amounts to genocide against the Palestinian people – a charge the Israeli government has vehemently denied.

    The 296-page report details evidence gathered over nine months, outlining numerous instances in which Amnesty says Israeli forces and government authorities have committed three of five acts prohibited under the United Nations’ Genocide Convention – including the mass killing of Palestinian civilians, causing serious bodily or mental harm, and deliberately inflicting on Palestinians in Gaza conditions of life “calculated to bring about their physical destruction in whole or in part.”

    “Month after month, Israel has treated Palestinians in Gaza as a subhuman group unworthy of human rights and dignity, demonstrating its intent to physically destroy them,” Amnesty International Secretary General Agnès Callamard said in a statement.

    Amnesty said that Israel is responsible for extensive and often indiscriminate aerial and ground attacks, widespread destruction of civilian infrastructure, the forced mass displacement of Palestinians across the besieged enclave, and the obstruction of humanitarian aid.

    “There is only one reasonable inference that can be drawn from the evidence presented: genocidal intent has been part and parcel of Israel’s conduct in Gaza since 7 October 2023, including its military campaign,” Amnesty’s report states.

    Israel launched the war in Gaza after Hamas-led militants carried out an attack on southern Israel on October 7 last year, killing 1,200 people and taking another 251 hostage. In a little over a year, more than 44,000 people in Gaza have been killed and 104,000 injured as a result of Israel’s ongoing military onslaught, according to the Palestinian Ministry of Health.

    Israeli government lawyers, speaking earlier this year at the International Court of Justice in The Hague, rejected what they called “grossly distorted” accusations of genocide leveled against it by South Africa. The lawyers argued that the convention was adopted only to “address a malevolent crime of the most exceptional circumstances,” and was “not designed to address the brutal impact of intensive hostilities” on civilians during warfare. It called South Africa’s accusation “a concerted and cynical effort to pervert the meaning of the term ‘genocide’ itself.”

    The report is the latest in a string of accusations over Israel’s conduct in Gaza. Over the weekend, former Israeli Defense Minister Moshe Ya’lon – who served for three decades with the Israel Defense Forces (IDF) – described the Israeli military’s actions in northern Gaza as “ethnic cleansing.” A United Nations Special Committee warned in November that Israel’s conduct in Gaza was “consistent with the characteristics of genocide.” And Human Rights Watch said last month that the forced mass displacement of Palestinians in Gaza amounted to a war crime and a crime against humanity. The military rejected those accusations and said its forces act within international law.

    What constitutes a violation of the UN Genocide Convention?

    The 1948 UN Genocide Convention, which Israel ratified in 1950, says that genocide has occurred when any of five prohibited acts are are carried out with the intent “to destroy in whole, or in part, a national, ethnic, racial or religious group.”

    The organization said it believes Israel’s acts were committed with the specific intent to destroy Palestinians in Gaza. As evidence for that, it cited calls by Israeli military and government officials for the targeting of Palestinians in Gaza using language that “equated Palestinian civilians with the enemy to be destroyed.” It also noted the use of indiscriminate weapons within densely populated areas, and actions taken by Israeli authorities to obstruct or prevent humanitarian aid from reaching the besieged enclave.

    The investigation – which focuses on Israel’s actions between October 7, 2023, and July 2024 – examines the repeated and consistent targeting of residential buildings and civilian infrastructure in densely populated areas, including apartment buildings, religious sites, schools and markets.

    The Israeli military has said that it makes “significant efforts to mitigate harm to civilians,” and that “throughout the conflict, Hamas cynically exploits the civilian environment.”

    While Amnesty says that it recognizes that Hamas has put Palestinian civilians in danger by operating from, or in the vicinity of, densely populated residential areas, the organization asserts that this does did not relieve Israel from its own obligations under international humanitarian law to spare civilians and avoid indiscriminate or disproportionate attacks.

    The human rights organization also noted the use of explosive weapons with wide area effects, such as US-manufactured Joint Direct Attack Munitions (JDAM), in some cases without warning or between the hours of 11pm and 4am, when residents would likely be sleeping.

    “Even where Israeli forces targeted what could be considered military objectives, Israel’s use of explosive weapons with wide area effects, especially aerial bombs of 250 pounds to 2,000 pounds, on residential buildings and in the proximity of hospitals in one of the world’s most densely populated areas likely constitute indiscriminate and/or disproportionate attacks,” Amnesty said.

    In a detailed report verifying fatalities in Gaza in the first six months of the conflict, the UN Human Rights Office (OHCHR) said it “found close to 70 per cent to be children and women, indicating a systematic violation of the fundamental principles of international humanitarian law” on the part of the Israeli military.

    It added that of the confirmed deaths, 80% were killed in residential buildings or similar housing, of which 44% were children and 26% were women.

    In a series of case studies examined by Amnesty, the human rights organization highlighted a deadly Israeli strike on a residential building in Rafah in December 2023, which killed at least 30 civilians, including 11 children. Among the fatalities was three-month-old Ayla Nasman, who was killed alongside her mother, grandparents, and two siblings – aged just five and four. Ayla’s father, Ahmad, survived the attack. He said it took him four days to retrieve Ayla’s body from the rubble, and that he found his five-year-old daughter, Arwa, had been decapitated by the blast.

    “While Amnesty International’s investigation has focused only on a small fraction of Israel’s aerial attacks, they are indicative of a pattern of repeated direct or indiscriminate attacks by the Israeli military in Gaza over the nine-month period under review,” the organization said.

    The report also refers to the staggering number of injuries recorded over the course of the war, which Amnesty said meets the UN convention’s criteria of causing serious bodily or mental harm. According to the UN’s World Health Organization, approximately 22,500 people were estimated to have suffered life-changing injuries requiring long-term rehabilitation by late July, with more than 3,000 limb amputations reported. Recent data from the Palestinian Ministry of Health places the total number of injuries recorded at over 100,000.

    As the humanitarian situation in Gaza grows more desperate, Amnesty International says Israel has brought the Palestinian population within the enclave “to the brink of collapse,” noting the “disastrous conditions” within the strip, caused by Israel’s destruction of critical infrastructure.

    Evidence featured in the report explores the deepening hunger crisis civilians in Gaza are facing, with obstructions to vital humanitarian aid reaching the strip. According to the UN, the number of aid trucks entering Gaza was critically low in November, with the number of food trucks received last month equating to just 36% of the monthly average since 2023.

    Amnesty’s report also examines the forced mass displacement of Palestinians in “unsafe and inhumane conditions,” with civilians repeatedly ordered by the Israeli military to evacuate to so-called “humanitarian zones,” which offer little in the way of shelter and have repeatedly been targeted by Israeli airstrikes.

    “Israel has forcibly displaced 90% of Gaza’s 2.2 million inhabitants, many of them multiple times, into ever-shrinking, ever-changing pockets of land that lacked basic infrastructure, forcing people to live in conditions that exposed them to a slow and calculated death.”

    In a statement on Wednesday, Callamard said the organization’s damning findings “must serve as a wake-up call” to the international community, warning that states who continue to transfer arms to Israel could be at risk of becoming complicit in genocide.

    “All states with influence over Israel, particularly key arms suppliers like the USA and Germany, but also other EU member states, the UK and others, must act now to bring Israel’s atrocities against Palestinians in Gaza to an immediate end,” Callamard said. “This is genocide. It must stop now.”

    This post appeared first on cnn.com

    Thirteen women from the Philippines have been convicted on human trafficking-related charges for acting as surrogates in Cambodia for a ring selling babies to foreigners for cash.

    The women were each sentenced to four years in prison after being found guilty of selling, buying or exchanging a person for cross-border transfer, the Kandal Provincial Court said late Monday.

    According to the verdict, two of the four years in prison were suspended, meaning they won’t have to be served unless they’re found guilty of another crime.

    The women are held at a police hospital outside Phnom Penh, the Cambodian capital, and authorities have previously said they would not have to serve prison time until after giving birth.

    The women can appeal the verdict, said court spokesperson So Sarin. He refused to comment on how many were still pregnant, or what would happen to the babies after they have given birth.

    Developing countries have been popular for surrogacy because costs are much lower compared to the United States and Australia, where surrogate services could cost around $150,000.

    The Cambodia case was unusual because surrogates normally are employed in their own countries, not transported elsewhere.

    Authorities have said the business that recruited the women was based in Thailand, and that their food and accommodation in Cambodia was organized there.

    The women were arrested in late September in a raid on a villa in Kandal province, where authorities found 20 Filipinos and four Vietnamese.

    At the time the women were charged in October, Cambodia’s Interior Ministry said the ringleaders had not been identified. It said, however, that it considered the women offenders who conspired with the organizers to act as surrogates and then sell the babies for money, rather than victims.

    Eleven of the women who were not pregnant were deported, and the 13 Filipinos were charged under a provision on Suppression of Human Trafficking and Sexual Exploitation. The law was updated in 2016 to ban commercial surrogacy after Cambodia became a popular destination for foreigners seeking women to give birth to their children.

    Cambodia has a bad reputation for human trafficking, especially in connection with online scams in which foreigners recruited for work under false pretenses are kept in conditions of virtual slavery and help perpetrate criminal fraud online against targets in many countries.

    The surrogacy business boomed in Cambodia after it was put under tight restrictions in neighboring Thailand, as well as in India and Nepal.

    In July 2017, a Cambodian court sentenced an Australian woman and two Cambodian associates to 1 1/2 years in prison for providing commercial surrogacy services.

    This post appeared first on cnn.com

    South Korean President Yoon Suk Yeol has accepted the resignation of his Defense Minister Kim Yong-hyun amid growing criticism over the leader’s short-lived declaration of martial law.

    The defense ministry said South Korea’s ambassador to Saudi Arabia Choi Byung-hyuk has been nominated as the new minister.

    Kim had submitted his resignation on Wednesday, just moments after South Korea’s main opposition Democratic Party said it had filed a motion to impeach him.

    The chief of the president’s own People Power Party had also called for the removal of the defense minister for recommending martial law.

    Earlier, Kim accepted responsibility for ordering troops to enact martial law, saying in a text message sent to reporters: “All soldiers who performed their duties in relation to the emergency martial law (were acting on) the order of the minister, and all responsibilities lie within myself.”

    In the same text, Kim said he felt sorry for “causing concerns and confusion to the people.”

    President Yoon is also facing growing calls to step down after he declared – then retracted – the martial law decree.

    Six opposition parties on Wednesday submitted a bill calling for Yoon’s impeachment. The motion is expected to be voted on by lawmakers on either Friday at midnight or Saturday at midnight.

    The main opposition Democratic Party said it has begun formalizing plans for a treason charge against the president.

    When Yoon declared martial law in a surprise late-night address on Tuesday, he accused the main opposition party of sympathizing with North Korea and of anti-state activities, citing a motion by the opposition to impeach top prosecutors and reject a government budget proposal.

    Lawmakers rejected Yoon’s decree just hours after he announced it, with 190 of the 300 members of parliament voting to overturn the measure.

    Yoon then backtracked on his short-lived decree in the early hours of Wednesday local time and withdrew the troops deployed to carry out the order.

    This is a breaking news story. More to come.

    This post appeared first on cnn.com