In a letter Jagmeet Singh, the leader of The NDP party in Canada has said he will no longer vote to keep Justin Trudeau in power whether he stays or goes as leader. This is good news on the political front for Canadians. We need a carbon tax election. DT

This is an important announcement for New Found Gold:

“Collin Kettell, Chief Executive Officer of New Found, stated: “On behalf of the Board of Directors and management, I would like to welcome Paul Huet as Independent Chairman of the Board. Paul has a proven track record as a mining executive, having successfully delivered considerable shareholder value in his previous roles at both Karora and Klondex, which were acquired for $1.3-billion and $700-million, respectively.”

As New Found Gold transitions from developer to producer bringing on the right sort of management is important at this stage. We will soon see a lot of Mergers and Acquisitions in the precious metals market and NFG has the need to bring on the sort of management that can guide them through the next phase as they will be seen as an acquisition while on their way to production. DT

Aaaaahhhhh, the end of the year with the gold bugs still not vindicated as to precious metal stocks. The vindication is there for the metals. What a disparity between the price of the metals and the stocks and what does this mean going forward. We’ve now had our tax loss selling but it appears from long term charts that the pain for the stocks might not quite be over just yet on this recent pullback. The first half of 2025 may be challenging for the stocks but a good time to add to already low positions on a pullback by some of the stocks. 2025 may be the year that stock holders throw in their towels collectively but long term holders should hold tight and probably add to good positions already established. There are contradictions all over the place—-the FED may lower rates somewhat into next year but if inflation remains strong they may have to reverse course later in the year. The Trumpster appears to want to control the government growth and actually reverse it which could be a deflationary force in the economy along with a strengthening currency. However, a contradiction to any deflationary thoughts is the long term bond market chart. Does one really believe that we can reverse a 40 year bond market rally in only 4 years. I really think not. That would be historically unusual. If we have that second leg down in the bond market, that can only tell us there will be a causal increase in inflation again along with a weakening of our currency. I would say the odds are with us. And that’s why I would not give up on the metal stocks. Another contradiction is how could the metals forge ahead if we have a second leg down in the bond market which should strengthen our currency. All I know is that eventually the metal market will have its’ day in the sun and now is no time to give up completely on it. The long term chart of gold definitely is signalling that the various technical variables are scratching the ceiling and we might need a rest for awhile but that does not mean we are done with this bull market in the metals.

House Minority Leader Hakeem Jeffries (D-N.Y.) has privately floated embracing the wholesale elimination of the debt limit next year rather than simply raising it, Axios has learned.
https://www.axios.com/2024/12/20/hakeem-jeffries-trump-abolish-debt-ceiling

https://www.fibonomics.com/2024/12/markets-s-500-spy.html
Markets : S&P 500 (SPY) : Current Status : NatGas