Nasdaq 2,665.60 -5.88
SP500 1,256.77 -2.07
30-yrBond 4.4750% +0.0290
Looking to go long precious metals and commodities on any weakness into the New Year.
GLD 134.66 -0.39
SLV 28.61 +0.04
PTM 20.31 -0.12
Copper hit a high of 4.28/lb on Monday. This could mark a top. Copper miner Force majeure
Chile’s giant Collahuasi copper mine, the world’s third largest, has halted shipments indefinitely following an accident at the mine’s ore shipping terminal. ... Mine officials said the mishap had not affected Collahuasi’s actual mining operations ... They said they did not know how long shipments would be suspended. Separately, a port official told Reuters it could take at least a month to repair the damaged loading station.
XLE 67.41 +0.19
XLF 15.87 -0.12
JJC 56.62 -0.41. iPath DJ-UBS Copper TR Sub-Idx ETN.
NGD 9.24 +0.12. 52 week range 3.50 - 10.29. May be basing to retest 52 week high.
SWC 20.65 -0.06. Stillwater Mining Co resumes supplying palladium to GM. 52 week range 8.56 - 22.86.
SDRG 0.1250 0.0150. Silver Dragon Resources Inc. 52 week range 0.07 - 0.46. Volatile.
NENE 1.98 +0.03. New Energy Technologies, Inc. 52 week range 0.31 - 3.29. May be basing.
Article by FOFOA describing a "monetary focal point" and why silver was the "easy money" and gold is the real "hard money".
Gold commentary by Jeff Clark
Surprising perspective of on-the-ground opportunities in Ethiopia.
It is no joke that Ethiopians are now unable to afford buying some of the produce of their own country. Following this last price spike, coffee is almost out of the question for many.
...
One fact alone is that fewer than 1.5 in 100 people in Ethiopia have a cell phone today according to a recent (ITU), International Telecommunications Union report. That is the lowest concentration in all Africa and amongst the lowest anywhere on earth.
...
The country does not yet have its own stock exchange, credit and debit transactions are virtually unknown across the country, few individuals have bank accounts and the banking sector itself is still working through its developmental stage.
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