HRA Journal

Articles by HRA Journal

This month, like many other months recently it’s the intentions of central bankers that are dominating the markets. It’s widely expected that the ECB and US Fed will drift even further apart in their basic policy stances this month. I’m...
It's all good. Just ask Janet Yellen or any hawkish Federal Reserve board member. Indeed, there have been some better readings on the US economy lately but things are far from outstanding.
Volumes remain high in the bullion markets and volatility is higher if anything. We just had one of the biggest up days in a couple of years but, overall, gold hasn’t moved much higher. That won’t change until we get a number of up days...
Ok, it could be another head fake (there have been plenty) but the latest move in the gold stocks looks strong enough to be the real thing, even though its just begun. If it is it will represent a very different outcome for the sector...
The song remains the same. There have been plenty of triple digit days on the big markets lately but all the movement hasn’t amounted to much overall change in the level of the markets. We’re heading into what is supposed to be the...
For all the recent fear in the market after another flare up in the Ukraine its hard to complain about how the big indices are holding up. All are near their highs. That’s good but there are some strange cross-market correlations that...
Just when you thought it was safe to go back into the market the gold price and junior resource stocks drop and nervous traders declare the sky is falling yet again. I’m not thrilled by the market action of the past two or three weeks but...
I don't follow tech stocks much but a recent look at valuations for some of the big ones gives anyone with common sense pause. I remember the last time internet-based companies with no earning had 30 billion plus market values. It didn't...
Its game on in the resource space at long last. There are plenty of market players that are still cautious but that is how it should be early in a bull market. Technically, we need to be 20% off the bottom for a Bull to be official but...
As I expected, the US Fed pulled the trigger and announced an initial “taper” of the Quantitative Easing (QE) program. Starting this monthly purchases of T Bills and Mortgage Backed Securities will be reduced by $10 billion.

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Gold is still being mined and refined at the rate of almost 2,600 tonnes per year.