Originally published by Chamber of Merchants
Written by The Speculator
After last months quiet start to the year, this month has been quite exciting. We started with Iran issuing a statement that they will no longer use the US dollar in official business and began cancelling visas for American citizens. Iran then proceeded to test a ballistic missile that upset the USA. The Greek crises was back in the news as well as French, Dutch and Italian elections.
Trump issued an immigration ban that rattled a few nerves and was eventually blocked by the courts as illegal and unconstitutional. Trump also started deporting illegal aliens from the USA and had a lot of memorable moments at the podium. The EU stepped up their fight on restricting cash and North Korea joined the missile launch party with a test of their own.
Finally to cap off an exciting month Trumps national security adviser resigned (was fired) over a Russian scandal making the rounds in the news… and Kim Jong-nam the half brother of North Korean leader Kim Jong-un was assassinated in Malaysia. One can only assume the all nightly leader has a master plan for this.
Over to the US Markets, the Dow closed at a new record high almost daily and has gone for over 100 days without a 1% decline, currently sitting at 20,821. Its longest winning streak since 1987, and the 2nd longest in history.
Bitcoin hit a new record closing price at $1181 USD, making the best currency 2 years in a row so far this year.
Lets take a look at the price movements of what I am tracking.
Some nice movements in all classes except the US dollar, and that AUD strength is bringing down the AUD gold price.
AUD Gold 4HR
USD Gold 4HR
AUD/USD 4HR
Now lets take a look at the individual Australian gold miners I am tracking. The Market Vectors Gold Miners (AX:GDX) and VanEck Vectors Junior Gold Miners (NYSE:GDXJ) performed rather poorly last night with the rise in the gold price, but I still expect 2-5% gains on Monday with the Aussie miners.
The standout winner being West Gold (AX:GWR) with a gain of 31% this month, and on the opposite side that poor old Doray Minerals Ltd (AX:DRM) with a loss of 25%. They are also the winners and losers on the YTD scorecard, up 53% and down 20%. If you have a stock you want me to add just let me know.
Although there was some great action this month, the miners could have done better. Never the less, the stage is being set for an epic March with the debt ceiling debate and a continuation of the world politics that is going on, what a great time to be invested in gold related assets.
One last chart I can’t let you go without seeing, the monthly Dow Jones Industrial Average. It is up 16.65% since the election, chart of the decade? How high will it go before it bursts?
