Speculator’s Monthly Wrap Up – March 2017
Well here we are with another monthly wrap up, and March turned out to be quite an exciting month. We started with a huge sell off in Gold stocks, down about 20% in the first 2 weeks until a nice turnaround in the middle of the month and then a slow sell down towards the end.
North Korea and Iran fired more ballistic missiles into the sky while Trump was busy creating a new travel ban that would also be challenged in the courts. Wikileaks released Vault 7 which is dubbed the largest ever publication of CIA documents which showed that nobody is safe from the hacking and spying of the CIA. Kim Jong Un readied his army for war as Trump ratcheted up the talk on the North Korean leader and China increased its Marine Force by 400%. While on the US front Trump released his budget which cuts spending for aid in order to increase the military.
Bitcoin had a wild ride crashing 25% in minutes after a the SEC denied a new Bitcoin ETF, but quickly rose back up to close the month at $1078. We then had the Dutch elections and the Fed raised rates for the 3rd time in 11 years causing Australian banks to start raising rates up to .25% on mortgages.
The Debt ceiling debate never happened and it looks like the emergency measures adopted were enough to kick the can further down the road with the national debt being reduced, but eventually it will get raised. Finally Trump failed to get his healthcare bill passed and lost a little face because he seems to have given up on it. Markets had a pull back and gold rallied on the news, but that didn’t last long. The dip was bought and gold sold off rather quickly.
Lets take a look at how the stocks and markets did for March.
AUD Gold 4 HR – Looking rather bullish
USD Gold 4 HR – On the verge of a breakout
USD Gold Monthly – Nice long bullish wick in March, need to take out $1375
AUD/USD Weekly – Failed to take 78c yet again
On March 5th I posted some charts showing the bearishness of the AUD. We were just starting to roll over at the beginning of the month, however a rally developed and stalled at the 0.7750 region yet again. Will it finally roll over this time?
On to the miners!
Not the greatest month on the Aussie miner front. Even with the gold price steady there was only 1 winner on the month, West African Resources. On the year however West Gold continues to be the winner with Doray continuing to be the loser. It will be interesting to see how April plays out but I am still long and accumulating on these dips. If you haven’t read my latest post on their Cash Generating Abilities be sure to check it out.
That’s about it folks. I will be taking a break for about 4 weeks and should be back before the April wrap up. Also if you missed my last few posts be sure to check out Debt Going Backwards for an interesting look at the debt clock. I will also be taking an individual look at my top 5 miners later with an in depth analysis on each one so stay tuned for that!
Hope you enjoyed this wrap up, any questions, comments or feedback please post in the comments. If you want me to add anything to the monthly wrap up let me know. I’m still working on the content and layout.
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