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Peter Schiff: It Was A Black-And-Blue Friday

Peter Schiff: It Was A Black-And-Blue Friday


Last Friday was Black Friday and it was a black and blue Friday for investors….



This article was originally published by Zero Hedge

Peter Schiff: It Was A Black-And-Blue Friday


Last Friday was Black Friday and it was a black and blue Friday for investors. Just about everything was down and markets panicked over a new COVID variant. Peter Schiff talked about the market reaction in his podcast. Did the markets overreact? And what would happen if we did go into another global lockdown?

The Dow suffered its worse day since April 2020, the height of COVID lockdowns.

European stocks got hit hardest. “Stay at home” stocks including Netflix and Peloton the US helped mitigate some of the pain here.

I guess investors are thinking back to the last time we had a big COVID collapse and those are the stocks that worked, so they’re piling into them again. But I really don’t think Peloton or Docusign — these companies were having a lot of trouble. They were coming out with bad earnings. I don’t think all of a sudden everybody’s going to load up on Peloton bikes again the way they did the first time. I think pretty much most of the people who wanted to lock down with a Peloton bike probably bought the bike during the first go-round. … I think a lot of this trading is just computer-driven.”

Dollar weakness was one of the more interesting aspects of what happened Friday. We did not have a flight of safety into the greenback. The safe-haven money flowed into the Swiss franc, the Japanese yen, and to a lesser degree, the euro. The dollar dropped about 1.7% against the yen and 1.4% against the Swiss franc.

Clearly, the dollar is not a safe haven, or not the primary safe haven, given the fact that it was very weak against these other fiat currencies. Once upon a time, the world would have fled to the dollar. … The dollar was the preeminent, go-to, safe-haven currency. Clearly, the dollar has lost that status already to these other currencies. And that does not bode well for the dollar in the future.”

Peter said overall, he sees this as a big market overreaction. But if the worst-case scenario were to happen – a return to global lockdowns – the Fed would almost certainly cancel the taper and return to quantitative easing. In fact, it would probably have to ramp up QE even more.

After all, if the economy is going to implode once again, it’s going to need more stimulus. I don’t think the Fed simply saying, ‘We’re going to maintain the stimulus we have now,’ — that ain’t going to cut it. When you have a drug addiction, you build up a tolerance. And I don’t think the Fed can really stimulate the economy again by maintaining the level of stimulus that is already in place. The markets kind of get used to that and expect that stimulus, so I don’t think it really acts as a stimulus more than a crutch. And I think if we need another phony stimulus the Fed is going to have to up the dosage.”

The Fed has already said it won’t initiate its first rate hike until the taper is complete.

To the extent that the taper is delayed, or as I just said, reversed and we ramp up QE to an even bigger number so that by the time we eventually restart the taper, we’re not tapering from $120 billion but maybe from $150 billion or $200 billion, what that does is it dramatically pushes back the first rate hike that we get from the Fed.”

Peter said the dollar weakness may not just be a function of its diminishing role as a safe haven, but it may also be due to investors beginning to price out the taper or “liftoff” in interest rates. But Peter said the markets still don’t get it.

If we do go into another lockdown, and we have to increase the size of the stimulus, I think the impact on consumer prices is going to be far more immediate than it was before.”

Some people think another COVID lockdown would defuse the inflation bomb. Just look at the big drop in the price of oil. It could be a “get out of jail free” card for the Fed. Peter said that’s not going to happen.

When we went into lockdown the first time, CPI was low and there was still plenty of inventory to absorb the big drop in production. We’re not in that situation now. We don’t have the ample supply chain we had when COVID hit the first time.

Meanwhile, we’ve already got all this money that has just been printed. We didn’t have that going into the first round of lockdowns. So, if we lock down again, it’s not like prices are going to collapse. They’re going to keep going up. In fact, they’re going to go up even more.”

Of course, some prices would drop. But generally, Peter thinks they would continue to rise.

If we go back into full lockdown mode again, and we do more stimulus, more money printing, the impact on prices is going to be far greater and far more immediate the second time than it was the first time.”

Peter said this scenario is very bullish for gold.

If we ramped up QE instead of taper it, and if we basically push back liftoff in interest rates to some year well beyond 2022, I think the immediate and biggest beneficiary would be gold and then the gold mining stocks.”

Tyler Durden
Mon, 11/29/2021 – 11:05

Author: Tyler Durden

Precious Metals

Magna Gold Meets 2021 Production Guidance With 56,099 Ounces

Magna Gold Corp. (TSXV: MGR) has released preliminary production results for the fourth quarter and full-year 2021. While no further annual
The post Magna…

Magna Gold Corp. (TSXV: MGR) has released preliminary production results for the fourth quarter and full-year 2021. While no further annual metrics have been shared, the firm said it has produced 56,099 gold ounces for the year out of its San Francisco mine in Sonora, Mexico.

The mine achieved full-scale commercial production in June 2021. The annual gold production also met the previously announced guidance of 55,000 – 65,000 ounces.

For Q4 2021, the firm produced 15,499 gold ounces and 5,712 silver ounces, down from Q3 2021’s production of 19,102 gold ounces and 7,115 silver ounces. Cash costs ended at US$1,123 per ounce compared to last quarter’s US$1,134 per ounce.

Gold sales for the quarter came in at 16,305 gold ounces at an average realized price of US$1,780 per ounce vis-a-vis last quarter’s sales of 18,276 gold ounces at US$1,776 per ounce.

The company also mined an average of 86,449 tonnes per day during the quarter, up from last quarter’s 67,907 tonnes per day.

For 2022, the mining firm is estimating a gold production of 65,000 – 75,000 ounces at cash costs of US$1,250 – US$1,350 per ounce.

Magna Gold Corp. last traded on the TSX Venture at $1.03.

Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

The post Magna Gold Meets 2021 Production Guidance With 56,099 Ounces appeared first on the deep dive.

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Author: ER Velasco

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Precious Metals

Trading Penny Stocks? Top Stock Market News for January 26th, 2022

Check these penny stocks out for your list on January 26th
The post Trading Penny Stocks? Top Stock Market News for January 26th, 2022 appeared first…

Buying Penny Stocks Today? Here’s What You Need to Know 

Right now, we’re witnessing a potential renewed bullish sentiment for penny stocks and blue chips. While it may be too soon to say, stock futures are rebounding slightly as the market works to recoup its recent losses. And to understand why this is occurring, we have to take a closer look at what is going on in the stock market right now. 

What to Know About Trading Penny Stocks Today 

During morning trading, contracts on the S&P 500 managed to gain around 1%while contracts on the NASDAQ pushed up by around 2%. Additionally, shares of Microsoft (NASDAQ: MSFT) managed to reverse its previous day’s losses with better than expected Q2 revenue. 

[Read More] 4 Hot Penny Stocks To Buy Under $5 Right Now

One of the largest concerns in the stock market right now is the Federal Reserve monetary policy. With Fed Chair Jerome Powell speaking later today on this, many are gearing up for the Fed to work on lowering inflation. Currently, inflation is at a four-decade high, which makes sense given the massive amount of stimulus given out during the pandemic. However, it is still concerning for the stock market and investors alike. 

So, investors should continue to expect high volatility as we navigate these uncertain waters. In regard to this, David Bailin, the Chief Investment Officer at Citi, stated “If you think about what’s happened in the markets, it indicates the degree of sensitivity market participants have to what is going to be the new rate environment and the new liquidity environment.”

With the market moving the way it is right now, investors need to be certain about their strategies moving forward. Considering that, let’s take a look at three penny stocks that are climbing in premarket trading right now. 

3 Penny Stocks Climbing During Premarket Right Now 

  1. Vinco Ventures Inc. (NASDAQ: BBIG
  2. Dare Bioscience Inc. (NASDAQ: DARE
  3. Maverix Metals Inc. (NYSE: MMX

Vinco Ventures Inc. (NASDAQ: BBIG) 

One of the biggest gainers during premarket trading today is BBIG stock. By 9:30 AM EST, shares of BBIG had climbed by over 16% to $3.51 per share. This is a staggering gain, and brings Vinco Ventures up substantially considering its one-month gain of over 13%. Now, there is no company-specific news that is causing this rise, however, the company has several interesting moves in the works right now. 

[Read More] Trending Penny Stocks to Watch in February 2022

On one hand, the company has been working on its NFT marketplace for months now, following the purchase of a majority stake in Lomotif. Lomotif is a video-sharing app that the company states could rival TikTok. And now, the company plans to release its Cryptyde spinoff, which will invest in disruptive blockchain tech. Considering all of this, will BBIG be on your penny stocks watchlist?

Dare Bioscience Inc. (NASDAQ: DARE) 

Another sizable premarket mover is DARE stock. With higher than average volume right now, DARE stock remains up by around 6.7% in the past six months. While it has fallen significantly in the last month or so, we have begun to see a recent bullish turnaround. 

The most recent news from the company came a few weeks ago when it announced its participation in the H.C. Wainwright BIOCONNECT 2022 Conference. Since then however, the company has been relatively quiet. Despite this, Dare’s focus on advancing innovative products for the women’s health market, has helped to make it more popular in the past few months. Whether this makes it worth adding to your list of penny stocks to watch is up to you. 


Maverix Metals Inc. (NYSE: MMX) 

MMX stock is another popular penny stock to watch during premarket trading right now. Today, shares of MMX stock managed to push up by a modest 1.1% or so during early morning trading. It’s hard to say why MMX stock’s volume is up right now however, we have seen a sizable amount of momentum in the mining industry recently. 

While Maverix is not a mining stock in the traditional sense, it is a gold-focused royalty and streaming company. Maverix also holds a portfolio of more than 100 assets, which offers investors a broad opportunity to capitalize on the gold market. In the past few days, we’ve seen the price of gold and subsequent interest in gold stocks push up substantially. So, does this make MMX stock a worthwhile addition to your watchlist or not?


Are Penny Stocks Worth Buying Right Now?

If you’re looking for the best penny stocks to buy, there are hundreds of options to choose from. And while it can be difficult to land on ones that will consistently make you money, there are ways to increase your chances.

[Read More] These Hot Penny Stocks Are Climbing While the Stock Market is Down

The best method is to have a thorough understanding of what is going on in the market and how to take advantage. Considering all of this, do you think that penny stocks are worth buying right now or not?

If you enjoyed this article and you’re interested in learning how to trade so you can have the best chance to profit consistently then you need to checkout this YouTube channel. CLICK HERE RIGHT NOW!

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RooGold Closes On Purchase Of Australian Precious Metals Properties

RooGold Inc (CSE: ROO) has closed on the acquisition of its mineral properties. The firm this morning indicated that it
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RooGold Inc (CSE: ROO) has closed on the acquisition of its mineral properties. The firm this morning indicated that it has closed on the indirect acquisition of Great Southern Precious Metals Pty Ltd, via the purchase of a numbered company that currently holds the asset.

Collectively, Great Southern Precious Metals owns a nine properties in New South Wales, Australia that are either past producing or exploratory in nature for gold and silver. Historically, both of the precious metals have been produced across the properties, with the holdings having a total of 93 historic mines and prospects.

In terms of historical data, the properties feature grades of up to 384 g/t gold and 1,200 g/t silver. The high grades are a result of the properties being controlled by regional structures and contacts renowned for their precious metal mineralization, with one property found along the Peel-Manning fault system.

Under the terms of the acquisition of the numbered company holding the land assets, the firm issued a total of 20 million shares. Shares issued are subject to a voluntary lock-up arrangement, with 25% being released every 6 months starting at the end of February, 2022.

RooGold last traded at $0.21 on the CSE.

FULL DISCLOSURE: Canacom Group, the parent company of The Deep Dive has been compensated to provide coverage on this company. The company has been compensated to cover this story on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.

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