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Bob Kirtley  

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  • Gold Stocks: This Bear Phase Isn't Over Yet [View article]
    The USD made a higher low in the middle of June at 94 according to stock charts and its currently at 96 on the USD Index, going well for now.
    Jul 3, 2015. 03:19 AM | 1 Like Like |Link to Comment
  • Gold Stocks: This Bear Phase Isn't Over Yet [View article]
    Had an interesting but far too short a stint in Australia and sadly I need more contacts there in our field - maybe I'll put out a few feelers on our website with the view to gaining contributions by those who have their boots on the ground - as soon as I get over jet lag.

    Take care, Bob K
    Jul 2, 2015. 08:26 PM | Likes Like |Link to Comment
  • Gold Stocks: This Bear Phase Isn't Over Yet [View article]
    Steven - GDXJ at $23.84 and the HUI at 148.89 - this sector is grinding lower punctuated by the occasional rally that peters out in double quick time - a rate rise in September will be close to a nail in gold's coffin and I will go short fairly aggressively.
    The dollar is holding up well so we are happy to have the lions share of our funds in dollars for now.
    Jul 2, 2015. 08:23 PM | Likes Like |Link to Comment
  • Gold Stocks: This Bear Phase Isn't Over Yet [View article]
    7411931,

    Thank you for your very kind words they are much appreciated. I'm just coming to the end of a road trip which has taken me to Dubai and London and I have to say that what I have learned hasn't changed my view one bit. I'm still of the opinion that gold will trade at $1000/oz before the end of the year.

    The HUI closed at 152 last week, just a couple of points above the all important support level of 150, once penetrated we could see a severe fall and even a final capitulation that this sector hasn't had yet. After that the bull market will resume and we will all look like geniuses once again.

    Take care, Bob K
    Jun 28, 2015. 10:33 AM | Likes Like |Link to Comment
  • Gold Stocks: This Bear Phase Isn't Over Yet [View article]
    james,

    Yes we are in total disagreement - but without this sort of debate we wouldn't learn anything that's why we welcome comments especially if they differ from our own.

    A drop in the stock market does not necessarily mean that gold and silver will rise. When stocks get sold off the mining sector will not spared and so the HUI remains under threat.

    I'll be leaving London late tomorrow so it could be a few days before I make connect again as its a long haul trip, but next week will reveal a fair bit and no doubt there are many more twists to come in this story.
    Jun 28, 2015. 10:23 AM | Likes Like |Link to Comment
  • Gold Stocks: This Bear Phase Isn't Over Yet [View article]
    james,

    The announcement of a referendum in Greece with the Greek government being negative has cast more uncertainty over the market, so we will now have to wait until next week to the what effect, if any , on gold prices.

    We are still not ready to buy gold stocks at this stage.

    Have a good one, Bob
    Jun 27, 2015. 11:50 AM | Likes Like |Link to Comment
  • Gold Stocks: This Bear Phase Isn't Over Yet [View article]
    Germany has been a beneficiary of the Euro in that it has enabled them to sell their cars etc, but given a much stronger currency then their cars would sell less and less thus putting people out of work and a downward spiral would begin.

    Why did you think that we are going through this race to the bottom on the currency front?
    Jun 26, 2015. 05:04 AM | Likes Like |Link to Comment
  • Gold Stocks: This Bear Phase Isn't Over Yet [View article]
    If all the countries leave the Euro except Germany there will be no Euro. The Germans would go back to the Mark and it would be a lot smaller than the Euro and therefore have less impact even though it would be a strong currency.
    Jun 26, 2015. 05:03 AM | Likes Like |Link to Comment
  • Gold Stocks: This Bear Phase Isn't Over Yet [View article]
    james,

    Regarding data dependent Janet you say "Therefore, the U.S. Dollar Index, DXY, should decline for the coming month on this news. Gold price did move UP on this news !" - Gold is trading at £1173/oz so it hasn't really gone anywhere

    If the Greeks leave then the risk of contagion will weigh heavily on the Euro and push the dollar even higher, possibly back to the '100' level on the US Dollar Index. Its no longer just a matter of the debt its also a matter of immigration to Europe with a number of member states saying enough is enough.

    It appears to me that gold is struggling regardless of the news.
    Jun 25, 2015. 12:34 PM | Likes Like |Link to Comment
  • Gold Stocks: This Bear Phase Isn't Over Yet [View article]
    james.

    One of my colleagues who lives in Corfu sent me this comment regarding the Greeks offer to increase VAT to 23%:

    'Only the Eastern Islands had the benefit of 13% top rate VAT in Bars, restaurants and tavernas, The Western islands e.g. Ionian Islands have been charging the 23% top rate for years!'

    So this offer doesn't change that much for the Greeks and may not generate much in terms of tax receipts.

    Take care, Bob K
    Jun 25, 2015. 07:03 AM | Likes Like |Link to Comment
  • Gold Stocks: This Bear Phase Isn't Over Yet [View article]
    james,

    Is it not in the EU's interest to cut a deal with Greece in order to stop the balance of power going east as per your conclusion?

    A friend of mine has bet me a large drink that Greece will get a deal - I've taken the bet but it is knife edge stuff.
    Jun 25, 2015. 06:52 AM | Likes Like |Link to Comment
  • Gold Stocks: This Bear Phase Isn't Over Yet [View article]
    Gold at $1178 - not looking too clever.
    Jun 23, 2015. 04:43 PM | Likes Like |Link to Comment
  • Gold Stocks: This Bear Phase Isn't Over Yet [View article]
    The HUI is still on the skids at 153.98
    Jun 22, 2015. 05:38 PM | Likes Like |Link to Comment
  • Gold Stocks: This Bear Phase Isn't Over Yet [View article]
    Steven,

    Well we can only agree to differ, but GDXJ is still not for me.

    Since we posted this article the HUI has dropped from 192 to 154 and should it penetrate the major support level of 150 it will be a case of 'look out below'

    Gold will rally but not yet, its all a question of timing.

    Take good care, Bob K
    Jun 17, 2015. 07:02 AM | Likes Like |Link to Comment
  • Gold Stocks: This Bear Phase Isn't Over Yet [View article]
    Steven,

    You can quote all the metrics that you want as to why gold should be going up but the fact is that it is going down and so are the stocks.

    We have all sorts of turmoil regarding Greece and yet gold is down another nine dollars as we write - $1000/oz is on the cards and will this present us with some real bargain buys.

    Take care, Bob K
    Jun 16, 2015. 10:30 AM | Likes Like |Link to Comment
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