Gold

It appears that Big Iron equities will need to have a picture painted for them before they fall into the seasonally weak Q4. Today BHP is 1%, RIO 1% and FMG 2.3% above $5 again (weekly chart today): Dalian is up a touch at the open.

From Credit Suisse come Perseus: ■ We forecast an FY16 net loss of $20mn. Quarterly reporting should lead our operating earnings to be close to those reported. Risks to our forecasts include non-recurring adjustments associated with the Amara acquisition and capital raising (we forecast $7mn per cash cost guidance) and any tax implications.

Another round of Big Iron bust is upon us.

A couple of sell side wraps for EVN (which I quite like the look of).

Big Iron is blowing off.

Readers will know that my take on the gold price is rather simple. I see at as a hedge against the US dollar (as well as the attendant stability or otherwise in underlying US policy) and, increasingly, wider monetary disorder.

Big Iron is hanging on despite decent losses last night in London, helped by Dalian as it firms another few points at the open after last night’s gains.

Via Macquarie Bank:  EVN reported strong underlying earnings for FY16, in line with our expectation.

Dirt has broken out today with BHP and FMG at new rally highs up 2% apiece, RIO is the new laggard up 1% and still 5% below 2016 peaks.

From Smart Investor: Resource stocks are now starting to look very interesting.

Courtesy of Morgan Stanley: Gold equities have re-rated to historical peaks or above.

Because Banana Man is loose once more.

The Big Iron bubble is little changed over my break if off today.

Big Iron has responded soberly to the building price bubble today as Dalian opens -2%.

You can’t keep a good Banana Man down and a falling USD is just what he needs to inflate the iron ore bubble some more.

The Big Iron bubble is off the boil today as Dalian has lost last night’s gains this morning.

Dalian opened this morning and immediately rocketed 3% presumably on the back of the G20 nothing.

From The Australian: June quarter reports from gold producers are confirming what rampant share ­prices in the sector have already indicated: the industry is booming.