Fund Manager Breaks Down The Massive Bid Activity That Saw Gold Spike Yesterday

Dave Kranzler says gold’s $16 spike yesterday didn’t have anything to do with China, or India. Here’s the trigger for the massive bid yesterday…

by Dave Kranzler of Investment Research Dynamics

Gold Spiking And Mining Stock Daily Interviews Rob McEwen

Gold spiked up as much as $16 when the Comex floor trading opened today.  With China closed for the week and India closed today, the only possible catalyst triggering a big move on the Comex paper market is the ongoing financial and economic melt-down in Italy.  That said, yesterday saw massive bid-side activity during the A.M. and P.M. LBMA fixes, as reported several hours after the fact. One can only wonder what triggered heavy buy-interest in London…

The Mining Stock Daily’s Trevor Hall had an opportunity to interview Rob McEwen at the Beaver Creek Precious Metals Summit last week.  Rob discussed the current activities at each of McEwen Mining’s properties.  MUX is projected to produce over 200,000 ozs of gold in 2019, ramping up to 300,000 after that.  The Mining Stock Journal believes that MUX is undervalued by at least 60% with the price of gold at $1200.  You can listen to the interview by clicking this link or on the graphic below: