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A roundup of what The Globe and Mail’s market strategist Scott Barlow is reading today on the Web

Small cap, TSX-traded miner RNC Minerals Corp. has discovered what’s being called "gold find ‘of the century,",

“Over the past week, approximately 9,250 ounces of high grade gold was produced from a 44 m3 cut (130 tonnes) on 15 level at the Beta Hunt Mine (equal to over 70 ounces/tonne or 2,200 grams/tonne). The high grade gold (coarse gold and large gold-containing specimen stones) includes approximately 190 kg of specimen stone, the largest of which is 95 kg with an estimated gold content of 2,440 ounces and a second large specimen stone of 63kg with an estimated gold content of 1,620 ounces.”

“New Discovery Yields 9,000 Ounces Of High Grade Coarse Gold From Single Cut At Beta Hunt Mine” –

“Toronto mining company hits $15M worth of gold — in rare Australian nickel mine find“ – CBC


A Goldman Sachs sentiment indicator points to the highest U.S. recession risks since 1969,

“The firm’s Bull/Bear Index, which is based on measures of equity valuation, growth momentum, unemployment, inflation and the yield curve, is now at levels last seen in 1969. While the gauge is at levels that have historically preceded a bear market, Goldman strategists including Peter Oppenheimer wrote in a note last week that a long period of relatively low returns from stocks is a more likely alternative”

“Goldman Bear-Market Risk Indicator at Highest Since 1969: Chart” – Bloomberg

“@LizAnnSonders Low but rising #recession risk according to 2 regional #Fed models” – (charts) Twitter


U.S. president Donald Trump made an economics-related statement so brazenly wrong that it caused despair at FT Alphaville,

“the [president’s] tweet is not just silly. It's not even true. And it was absurdly easy to prove untrue… the President said a meaningless thing that wasn't true, even when it was easy to say true, meaningful things that reflect well on him… the President's tweet — is certainly wrong. But it's so brazenly, bizarrely wrong that it's impossible to address without descending into profound doubt over the possibility that through investigation and argument we will ever step closer to whatever truth is.”

This story has investor relevance in that this same level of expertise is guiding U.S. trade policy, and the result is rising market pessimism around the world.

“Wages and growth and honestly we just give up” – FT Alphaville (free with registration)

“Dow set to drop 100 points as investors fret about global trade” – CNBC

“China seeks WTO backing for sanctions on U.S. over dumping duties” – Reuters


Trade fears are also putting a bid behind oil prices,

“Hedge fund managers have turned bullish again towards crude and fuels, adding a significant number of new long positions in the last two weeks, after spending much of the previous four months liquidating positions. Hedge funds and other money managers raised their combined net long position in the six most important petroleum futures and options contracts by 47 million barrels in the week to Sept. 4.”

“COLUMN-Hedge funds turn bullish again on oil: Kemp” – Reuters

“Trump's sanctions on Iran could push oil prices above $100 per barrel” – CNBC


Tweet of the Day:

Diversion: “Oh My God Look at the Atlantic Ocean Right Now” – Gizmodo