Copper Miner AISC

Copper price average (red) should be slightly above the AISC (green).  

New copper mines that come online in a few years have costs around $2/lb inflation adjusted.

BRICS to send gold to $3000/ounce

Jim Rickards: The “BRICS+” countries will announce the creation of a new currency at its annual leaders’ summit conference on August 22–24. This will be the biggest upheaval in international finance since 1971. It’s taking direct aim at the Dollar. Quite simply, the world is unprepared for this geopolitical shock wave.

China and Russia are likely to call the shots. My estimate is they will want a high dollar price for gold in order to make their BRICS currency more valuable. This will help to increase their own wealth and destroy confidence in the dollar.

This policy backed up by physical gold purchases could drive the dollar price of gold to $3,000 per ounce or higher very quickly. In reality, the BRICS currency and physical gold are pegged and unchanged. If gold goes to $3,000 per ounce, we are actually witnessing the collapse of the dollar.

Oil Surplus in Q1 2024

If Q3 2023 doesn't boost oil, then oil is in very bad shape.

Citigroup says oil will be going below 70.

 

Especially when a recession arrives in Q1 2024.

Gold is money

Gold is monetary and should not be seen as a commodity. It is money and depends on the 4 prices of money. It's less dependent on mine supply because the stock to flow ratio is very high. Read this article.

Yardeni increases outlook on SP500

Yardeni increases outlook on SP500:

New:

Old:

Gold Forecaster Index: Buy When Everyone Has Lost Interest (07-Jun-2023)

 

Oil 100 here we come

 

Open interest in Gold

Open interest shows that this is likely the bottom in gold. 

 

Natural gas supply and demand

 Why natgas will remain depressed.