Kitco News
(Kitco News) – Galiano Gold (TSX: GAU) (NYSE American: GAU) reported today that its annual gold production at the Asanko gold mine, located in Ghana, was 249,904 ounces, exceeding the upper end of 2020 production guidance of 225,000-245,000 ounces.
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Some sectors boomed while others lagged, and then as now, the majority of the population struggled with rising home and commodity prices, bookmarked by lofty interest rates.
David Smith
Thu, 03/11/2021 – 05:54
Blain’s Morning Porridge/Bill Blain/3-10-2021
“You may be a bone fide financial genius knowing the exact value of everything – but the market is just an enormous calculating machine. It may completely ignore your value and set a very, very different price. All of which means I can’t really explain why Tech stocks were off on a tear yesterday. Maybe it’s the cheques American’s are about to get through the post as a result of Stimulus Package 1.9? A relief rally? Or short-covering? Time to load up more on my Tesla leveraged short ETF I think.”
USAGOLD note: Such thinking also applies, obviously, to the gold market. The market are dominated by trend followers – whether they be flesh and blood or silicon-based – either unaware or indifferent to the approaching cliff (and an understanding of financial and economic history) ……
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GoldSwitzerland/Matthew Piepenburg/3-9-2021
“If, for example, the Fed was honestly ‘targeting’ inflation to no success for years, how could Powell suddenly have the public ability to then ‘allow’ more of what he failed to achieve before, as if inflation was as simple to dial up and down as a thermostat in one’s home? The blunt answer is that the Fed, in sync with the fiction writers at the Bureau of Labor Statistics (BLS), reports consumer inflation as honestly as Al Capone reported taxable income.”
USAGOLD note: Even Fed Chairman Powell himself has questioned Bureau of Labor numbers – not on inflation but unemployment. That position, though, serves the Fed’s stated goal of igniting inflation, i.e., the higher the unemployment the more necessary money printing to ignite inflation and keep the unemployent rate down. On the other hand, it is unlikely to be quick to question the BLS’ low inflation readings – for the same reasons.
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