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  • Japan Recovery
    Hoping that some better news comes out of Japan.  It is a very challenging situation with the enormous loss life and looming nuclear catastrophe should the nuclear plants not be brought under control.  Certainly hoping for an improved situation. 

    Wondering what the impact will be on iShares MSCI Japan Index (NYSEARCA:EWJ).  Clean up and recovery should also strain the government given its relatively high budget deficit of $300+ billion and overall high debt levels at 100+% of GDP.  However, the deficit is still lower than the U.S.  Also, will Japan use some of its $850+ billion of U.S. Treasury holdings to fund these activities. 
    Tags: EWJ
    Mar 13 8:45 PM | Link | Comment!
  • Checking in on Gold Stocks
    The price of gold has reached $1,429.30 per ounce according to Yahoo!Finance.  I previously posted on gold stocks.

    Gold Companies
    TickerNameLast CloseMarket Cap ($ Millions)
    ABXBarrick Gold Corporation52.25                 52,174
    GGGoldcorp Incorporated49.32                 39,376
    NCMGYAgnico-Eagle Mines Limited39.6                 30,301
    NEMNewmont Mining Corporation (Holding Company)53                 25,788
    AUAngloGold Ashanti Ltd.47.62                 19,048
    IVNIvanhoe Mines Ltd26.9                 17,577
    GFIGold Fields Ltd.17.8                 12,830
    AEMAgnico-Eagle Mines Limited68.27                 11,530
    KGCKinross Gold Corporation15.54                 11,103
    EGOEldorado Gold Corp16.11                   8,832
    IAGIamgold Corporation21.54                   8,032
    GOLDRandgold Resources Limited73.75                   6,718
    HMYHarmony Gold Mining Co. Ltd.12.26                   5,268
    NGNovagold Resources Inc New13.45                   3,138
    Data provided by Zacks.com services.

    Relationship to 52-week highs and lows.


    Data provided by Zacks.com services.
    Tags: ABX, GG, NEM, AU, TRQ, GFI, AEM, KGC, EGO, IAG, GOLD, HMY, NG, Gold
    Mar 10 1:06 AM | Link | Comment!
  • Gold Stocks press against their 52-week Highs
    Gold Stocks have continued their upward climb and many are now pushing towards their 52-week highs. 


    Table 1: Largest Gold Mining Companies by Market Capitalization
    Company NameTickerMarket Cap ($ Millions)% of Combined Market Cap
    Barrick Gold CorporationABX $51,795 20.6%
    Goldcorp IncorporatedGG $34,028 13.6%
    Newmont Mining CorporationNEM $28,739 11.4%
    AngloGold Ashanti Ltd.AU $17,862 7.1%
    Ivanhoe Mines LtdIVN $14,009 5.6%
    Gold Fields Ltd.GFI $12,713 5.1%
    Agnico-Eagle Mines LimitedAEM $12,040 4.8%
    Kinross Gold CorporationKGC $11,346 4.5%
    Eldorado Gold CorpEGO $9,415 3.8%
    Yamana Gold, Inc.AUY $9,340 3.7%
    Iamgold CorporationIAG $7,795 3.1%
    Randgold Resources LimitedGOLD $7,358 2.9%
    Harmony Gold Mining Co. Ltd.HMY $        4,957 2.0%
    Novagold Resources Inc NewNG $        3,215 1.3%
    Royal Gold, Inc.RGLD $        2,636 1.1%
    Data provided by Zacks.com services.

    This list of 15 stocks represents approximately 90% of the market capitalization of the Gold Mining stocks listed on Zacks. The top 10 stocks would represent a little over 80%. The performance of these stocks will then provide a strong indicator of the overall performance of the industry.  The graph below shows the required percent returns from Friday's close to reach the 52-week high (marked in green) or to fall to the 52-week low (marked in red).

    Graph of 52 week low and 52 week high required returns from current

























    Data in graph provided by Zacks.com services.

    You can clearly see that all gold stocks with a few exceptions are well off their 52-week lows and many are within a few percentage points of their 52 week highs.  I provided some additional information in earlier articles on gold stocks here and here.   Will this trend continue?  How much higher will the price of gold climb? 
    Tags: GOLD, KGC, AEM, NG, EGO, RGLD, TRQ, HMY, NEM, AU, GFI, ABX, IAG, AUY, GG, Gold
    Feb 27 7:07 PM | Link | Comment!
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