With the Dow hitting new all-time highs and bonds breaking down, gold and oil are on the verge of major breakouts.
Keep A Close Eye On Oil!
October 3 (King World News) – Here is a portion of what Andrew Adams from Raymond James wrote today: WTI crude, after sticking to a fairly clear trading range between $65-$75 over the last few months, may finally be breaking out. It’s back to its highest point since late 2014, though we think there could continue to be some resistance up to $77.50 or so based on its history.
Crude Oil May Finally Be Breaking Out!
To listen to Doug Casey’s just-released KWN interview discussing his prediction of financial and economic chaos and a panic into gold CLICK HERE OR BELOW:
Gold Miners May Have Completed Inverse Head-and-Shoulders
Commodities and commodity-related stocks have started to look better recently, as demonstrated by the beleaguered gold miners. This has been an area to avoid for a long time, but the action may be worth taking a chance on here, especially considering there is so little that looks particularly attractive at the moment. While it’s not the cleanest pattern ever formed, the Gold Miners Index does appear to have created a rough inverse head-and-shoulders, which would be bullish.
Gold Miners May Break Out Of Reverse Head & Shoulders Pattern!
For those who may have missed it…
Speaking of mining stocks, for those who may have missed it (yesterday), this is a look at one company whose share price was trading up nearly 10% today in Canada in early trading.
Former Newmont Mining Experts Say Sombrero Best Pre-Drilling Project They Have Seen In Their Careers
Some of the largest copper gold mines in the world exist in Peru and Auryn is preparing to drill what many majors say all the lines of evidence points to the potential of a major new discovery. The team of experts, predominantly from Newmont Mining, commented:
“The scale of the project and the clear mineral endowment in the region re-emphasizes our impression that Sombrero is the best pre-drilling project many of us have seen in our careers.”
The Scale Is Much Bigger
The Executive Chairman, Ivan Bebek, was comparing the initial lines of evidence they are seeing from the surface work on the project to the first mine he and his partners discovered, which eventually became a 10 million ounce project and a producing gold mine. The difference here is the scale is much bigger.
“These are the highest-grade trenches we have seen to date from Sombrero, a project that continues to have impressive surface mineralization peripheral to a large-scale 3.5-kilometer-long target. We are very excited to put the first drill holes into Sombrero.”
All of this while they are waiting on results from their drilling at Committee Bay – which is a major gold exploration project not far from where the largest gold mine in the last 7 years was discovered.
“As for the two projects we drilled this summer, Committee Bay and Homestake Ridge, we are looking forward to results in the coming weeks.”
I have just increased my stake in Auryn Resources to 500,000 shares because I believe there are a number of catalysts that could send the share price many multiples higher than where it is trading today — symbol AUG in Canada & US.
***KWN has released the powerful audio interview with Gerald Celente and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
ALSO JUST RELEASED: This Is The Stuff Legends Are Made Of CLICK HERE TO READ.