Barrick Gold says gold production is in terminal decline

According to this article Barrick Gold says world is running out of new gold. I am sure the gold bugs would be all over this. But it looks like a blatant case of trying to pump the prices after getting rid of its hedges. If they believed this was the case why were they hedging so heavily. Oh the PR games companies play.

Aaron Regent, president of the Canadian gold giant, said that global output has been falling by roughly 1m ounces a year since the start of the decade. Total mine supply has dropped by 10pc as ore quality erodes, implying that the roaring bull market of the last eight years may have further to run.

"There is a strong case to be made that we are already at 'peak gold'," he told The Daily Telegraph at the RBC's annual gold conference in London.

"Production peaked around 2000 and it has been in decline ever since, and we forecast that decline to continue. It is increasingly difficult to find ore," he said.

Ore grades have fallen from around 12 grams per tonne in 1950 to nearer 3 grams in the US, Canada, and Australia. South Africa's output has halved since peaking in 1970.

ABX has been anyway a laggard in that sector. The top 3 gold stocks by relative strength are KGN, THM IAG

KGN: Keegan Resources Inc

Best site to learn to trade

If you are serious about your trading and want to build an enduring edge, the Stockbee Member site might help you.

Members tell me they have tried a lot of things before coming to my site, and it has offered them the most extensive and detailed methods to swing and position trade. Members range from very experienced traders to novices.

No advertising, no hard marketing, no promotions, no free offers, no affiliate marketing, no incentive to other bloggers to promote the site, no constant tweets self-promoting the site, and no tall claims. Every member comes through word-of-mouth recommendations from existing members.

As a member, you will learn the basics of swing trading, momentum investing, growth investing, and risk management. You will learn about Stockbee Momentum Burst breakouts, Stockbee Trend Intensity Breakouts, Stockbee Episodic Pivots Breakouts, Stockbee Lemonade Strategy for 401k, and many other member-shared methods.

You will learn how to set up your own scans, how to select the right kind of stocks, how to set up stops, when to enter, when to exit, how much to risk, how to track your trades, and all other details about trading.

You will learn about developing your own methods and not relying on others for trade ideas. Develop your own edge. Once you develop your own method, you will have a lifelong profitable method.

The site gives you an opportunity to interact with some of the most successful traders and learn from them about their trading methods. It is a vibrant community with members from different backgrounds and experiences willing to help each other. Members have shared their methods, scans, software, backtests, and market insights.

Every day, the emphasis is on continuous learning and upgrading of market knowledge and setup knowledge. The members range from hedge fund employees, financial advisers, active swing traders, investors, and new traders.

You will see that many trading bloggers have been using my market timing methods, scans, and chart templates. They have developed their own methods based on my methods.

Almost every member comes through a recommendation of some of the leading trading bloggers and trading sites. 80% or more members continue to be members for more than 3 years. Most tell me that they stay on because every day they learn so much from the members' site.

If you are looking to develop your own trading strategy, the membership site might be for you. You have to be willing to put in the effort to build your own method. There are no silver bullets offered on the members' site. Every method, every scan, every nuance is detailed, and all possible help is offered to design your own method.

4 comments:

Renu said...: Hi,
can please tell me the scan which find outs whether fall in stock price is just a pull back or reversal.
Thanks
Renu; Nov 13, 2009, 3:22:00 AM
Pradeep Bonde said...: A ATR channel scan find that out. Or even a Guppy MMA scan can do that. A pullback or reversal depends on your time frame and definition used to measure trend. So if your definition of trend is price above 200 ma= bullish and price below 200 ma= bearish. Then any pullback above 200 ma is just a pullback and not a reversal.
Similarly if you define trend as a function of atr channel, then any move which does not break atr channel is a pullback.; Nov 13, 2009, 6:45:00 AM
Renu said...: hi,
Thanks for the reply ,could u please tell me what is atr channel and how it is used.

Thanks
Renu; Nov 13, 2009, 10:28:00 AM
Pradeep Bonde said...: ATR: Average true Range.ATR measures volatility. There are many ways to use ATR channels depending on your basic trading philosophy. Trend traders buy breakouts above atr channel. Mean reversion traders buy stocks touching lower atr channel.; Nov 13, 2009, 11:49:00 AM

404

Recent Articles