New Gold (NGD)

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What's bad news for crude is great news for gold

In his Jackson Hole speech today, Jerome Powell failed to deliver a "whatever it takes" moment to hit the Fed's inflation target. Instead here is what he said:

We are evaluating the pros and cons of strategies that aim to reverse past misses of our inflation objective.

That is clearly not going to cut it with markets, particularly when the Chinese currency is tumbling which will only serve to push inflation further away from the Fed's 2% target. In terms of investing implications, the drop in crude oil today seems to be confirming our fear that the global economy cannot weather both the China-US trade war and a go-slow Fed approach to monetary policy. We will have to give it another day or two to see if this is more than just a knee-jerk reaction. At this point, what is bad for oil is great for gold as we are left with a scenario where investors are unsure of what the next steps will be for the Fed.

Video Summary: Will a financing cloud Eldorado's sunny outlook?

Here is the video summary of the August 13th INK Morning report which looks at soaring Eldorado Gold (ELD) and the risk that it may spring a financing on investors, just as New Gold (NGD) recently did.

INK Research and Canadian Insider are both subscriber-supported. We do not accept payments from issuers or promoters for stock coverage. This video first appeared on INKResearch.com.

New Gold to join the August Top 40

We will be publishing the August Top 40 before the market open Tuesday. If there were any doubt that gold stocks are a hot area of the market this summer, the composition of the list should put that to rest. A total of 17 precious metals stocks have made our Top 40 chart. We cannot remember gold stocks ever having such a high representation in our Top 40. It is almost certainly a record.

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