Author

admin

Browsing

The top countries for gold production are poised to benefit from the current gold bull market, as are the gold mining operations in those countries.

The price of gold has soared through 2024, setting and breaking new all time highs. Prices surged above US$2,600 on the heels of a 50 basis point cut to the US Federal Reserve’s benchmark rate announced on September 18. The widely expected cut comes as the most recent data shows inflation continues to edge closer to the Fed’s 2 percent target rate and alongside a more balanced job market.

Additionally, escalating tensions in the Middle East that threaten to destabilize the oil-producing region may be having a knock-on effect as more investors seek safe-haven assets like gold.

1. China

Gold production: 370 metric tons

China was the world’s top gold mining country in 2023 with output of 370 metric tons. While China’s gold output peaked at 455 MT in 2016, it hasn’t dipped below 300 MT in more than a decade. This consistent production continues to ensure the China’s status as the world’s top gold producer.

China’s gold mining industry is dominated by state-owned operators. Some of the largest companies include China Gold International Resources (TSX:CGG,HKEX:2099), Shandong Gold (HKEX:1787) and Zijin Mining Group (HKEX:2899).

China also hosts major gold-smelting operations. Its Belt and Road Initiative has resulted in Chinese companies exploring and developing sites elsewhere in Asia and Africa, subsequently sending raw resources back to China for refinement.

In addition to being the top producer of gold in 2023, China was the largest consumer of gold at 1,089.69 metric tons. China’s central bank was the largest buyer of the precious metal in 2023, adding 225 metric tons of gold to its coffers during the year to bring its total to 2,235 MT.

2. Australia

Gold production: 310 metric tons

Australia’s 2023 gold production came in at 310 metric tons, largely on par with the previous year’s 314 MT.

Gold is mined at a slew of major operations in the country, with the top five gold mines all located in different states. The top-producing mine is top producer Newmont’s (TSX:NGT,NYSE:NEM) Boddington mine in Western Australia, which produced 589,000 ounces through the first three quarters of 2023.

Australia hosts the world’s largest gold reserves at 12,000 MT, and has an important role in the global supply of gold. It contributed AU$24 billion to the Australian economy in the 2022/2023 period.

2. Russia

Gold production: 310 metric tons

Gold production from Russia came in at 310 metric tons in 2023, the same as the prior year. The country’s output has risen fairly significantly since 2017, when it produced only 255 MT of gold.

The US Geological Survey states that Russian gold reserves stand at 11,100 MT, making it the second largest country for reserves after Australia. However, despite high production and reserves, Russian gold has had problems reaching world markets since the country’s invasion of Ukraine in February 2022. In response, Russian operators have sought out alternative markets, particularly the BRICS nations and other Asian countries like Kazakhstan.

4. Canada

Gold production: 200 metric tons

For 2023, gold production in Canada was 200 metric tons, down a marginal 6 MT from 2022.

Ontario and Quebec are the largest gold-producing provinces in the country; together, they represent more than 70 percent of Canada’s gold output. The Canadian government states that gold is the nation’s most valuable mined commodity, with domestic exports reaching C$22.34 billion worth of the precious metal in 2022.

Additionally, BC’s Golden Triangle is a hotbed for exploration. The region hosts Newmont’s Brucejack gold mine and Red Chris copper-gold mine, the latter of which is a 70/30 joint venture with Imperial Metals (TSX:III,OTC Pink:IPMLF). Junior companies like Goliath Resources (TSXV:GOT,OTCQB:GOTRF) have also made significant discoveries in the region, which has further fueled optimism about the region’s potential.

5. United States

Gold production: 170 metric tons

In 2023, the Unites States produced 170 metric tons of gold, down slightly from the 173 MT it produced in 2022. While that is a marginal decrease, it continues a trend of production declines from 2017, when the US produced 237 MT of gold.

According to the US Geological Survey, the top state for production of the yellow metal was Nevada, which accounted for 73 percent of total domestic production, followed by Alaska with 13 percent. The top 27 operations in the country were responsible for 97 percent of American gold output in 2023.

An assessment of US gold resources shows that the country has approximately 33,000 MT of gold in identified and undiscovered resources. The US Geological Survey notes that close to a quarter of the gold in undiscovered resources can be found in copper porphyry deposits. Gold reserves in the US are estimated at 3,000 MT.

6. Kazakhstan

Gold production: 130 metric tons

Kazakhstan’s 2023 gold output of 130 metric tons represents continued growth in the country’s production of the yellow metal, up from just 69 MT produced in 2016. Kazakhstan’s largest gold-mining operation is the Altyntau Kokshetau mine, which is owned by mining giant Glencore (LSE:GLEN,OTC Pink:GLCNF).

In August 2023, Anglo-Russian company Polymetal International (AIX:POLY), one of Kazakhstan’s largest producers, delisted from the London Stock Exchange in a move geared at severing the link between its Kazakhstan and Russian subsidiaries; it did so in response to tensions resulting from Russia’s invasion of Ukraine. It remains listed on the Astana International Exchange in Kazakhstan and has major operations in the country.

7. Mexico

Gold production: 120 metric tons

Mexico has a long history of gold mining; in fact, the Spanish colonization of Central America in the early and mid-1500s was largely targeting gold and silver. Today, Mexico is among the global leaders in gold production, extracting 120 metric tons in 2023. Precious metals account for 50 percent of the country’s total metal output.

While much of Mexico’s gold mining is controlled by foreign entities, one of the largest operations, the Herradura mine — owned by Mexico City-based Fresnillo (LSE:FRES,OTC Pink:FNLPF) — produced 355,485 ounces of gold, or about 10.08 MT, in the company’s 2023 fiscal year. The mine represents more than half of Fresnillo’s gold production and generates about a quarter of the company’s total adjusted revenue.

8. Indonesia

Gold production: 110 metric tons

The mining industry is one of Indonesia’s most important sectors, and the country is among the world’s top producers of nickel, copper and gold. In 2023, Indonesia produced an estimated 110 metric tons of gold, up 5 MT over the prior year.

Indonesia is home to several large gold operations. The largest is the Grasberg Mining District, a joint venture between Freeport-McMoRan (NYSE:FCX) and Indonesia’s state-owned Indonesia Asahan Aluminium. In 2023, the area produced 1.98 million ounces of gold, or 56.1 MT; it has an estimated 23.9 million ounces contained in mineral reserves.

9. South Africa

Gold production: 100 metric tons

In 2023, South Africa produced 100 metric tons of gold, up from 89 MT in 2022. An estimated one-tenth of global gold reserves are located in the country, and its Witwatersrand Basin is one of the largest gold resources in the world.

South Africa has been a top gold producer for decades, but between 1980 and 2018 the nation’s gold output fell by 85 percent. In recent years, South Africa has been the site of conflicts between the Association of Mineworkers and Construction Union (AMCU) and gold producers in the area. The AMCU has held many protests and strikes at several gold and platinum mines in the hopes of garnering more wages and stopping any mergers that could cause job losses.

Power outages have been creating further strife for South Africa’s gold industry. Limited power generation in the country has caused rolling blackouts, including for miners, the majority of which are connected to the nation’s power grid.

10. Uzbekistan

Gold production: 100 metric tons

Uzbekistan produced 100 metric tons of gold in 2023, in line with its output over the last decade.

Operated by Navoi Mining and Metallurgical Company, Uzbekistan’s Muruntau gold mine is one of the largest gold operations in the world. Massive deposits of gold were first discovered at the site in the 1950s, and it still holds some of the largest reserves in the world at 4,500 MT. The discovery marked the beginning of gold mining in Uzbekistan. The mine produces more than 2.5 million ounces of gold per year and is expected to continue operating into the 2030s.

Following the fall of the Soviet Union in 1991, mining for the yellow metal fell to its all-time lows in the mid-1990s. In 2019, the country’s government announced renewed investment into development and exploration. While that hasn’t yet been reflected in its annual production, upgrades at Muruntau scheduled to be completed in 2026 are expected to increase its output from 38.5 million to 50 million MT metric tons of ore per year.

FAQs for gold investing

How is gold mined?

Gold is mined by several different methods, including: placer mining, hard-rock mining, by-product mining and by processing gold ore. The method a gold-mining company chooses depends upon the size, location, geological model and metallurgy of the deposit in question.

What is the production cost of gold?

The cost of producing gold varies from one miner to the next, and is reported as the all-in sustaining cost (AISC). AISC was first introduced in 2013 by the World Gold Council. Deposit type, energy costs and inflation are the factors that have the largest impact on AISC. The average AISC for the entire gold industry is calculated by averaging the production costs of the largest gold producers. The average AISC fluctuates with changes in energy costs and inflation.

Which nation is the largest owner of gold?

The country with the largest central bank gold reserves is the US, which had 8,133.5 metric tons as of May 2024. Most US central bank gold is held in deep storage in Denver, Fort Knox and West Point.

Securities Disclosure: I, Dean Belder, currently hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Nickel sulphide explorer Nordic Nickel Limited (ASX: NNL; Nordic, or the Company) announces the successful completion of a A$1.05 million capital raising to support the Company’s ongoing exploration and project development activities in Finland while adding working capital to allow strategic partnership discussions to continue.

HIGHLIGHTS

Firm commitments received to raise over A$1.05 million through a placement at A$0.06 per share.
The placement was priced at the last closing price and a nil discount to the 15-day VWAP – a strong show of support from existing shareholders for the Company’s critical minerals projects and development strategy in Europe.The Company’s key focus is to maintain the district scale nickel-copper-cobalt opportunity represented by the Pulju tenement package in Finland while avoiding unnecessary dilution for shareholders at a difficult time in the nickel market.The Company continues to advance strategic partnership options to progress the Pulju Project in the meaningful fashion it deserves.

The funds raised through the placement will allow the Company to advance towards its goal of becoming a major long-term European supplier of sustainably sourced, traceable, class-1 nickel sulphides, and other critical metals, from its flagship Pulju Project in northern Finland.

The Pulju Project is an exceedingly rare, district scale nickel-copper-cobalt exploration and development opportunity within a progressive mining district in Europe, hosting both shallow, disseminated nickel sulphides and high-grade massive/remobilised sulphides. The project already hosts an in-situ JORC (2012) Mineral Resource Estimate of 418Mt at the Hotinvaara Prospect containing 862,800t Ni, 22,100t Cu and 40,000t Co1.

To date, the Company has drilled 28 diamond holes for 15,432m at Pulju, within the Hotinvaara licence area only, it being the sole licence granted at the time of the drill campaign in 2023, with multiple wide intersections reported within the prospective ultramafic unit1. The drilled area represents just 2km of the known 35km of mineralised strike that lies within the Pulju project area, highlighting the strong potential for resource growth.

It is intended that later drilling at Pulju will focus on increasing the size of the known resource and, importantly, focus on the structures that may have trapped and concentrated the extensive remobilised sulphides found at Pulju. The thin zones of concentrated, remobilised nickel-iron sulphides so far intersected at Hotinvaara have attained grades of up to 9.6% Ni2, demonstrating that Pulju has the potential for a style of extremely high-grade nickel sulphide mineralisation that has yet to be targeted.

Upcoming Catalysts and Work Program

The Company will continue its work program planned for the next 12 months, and this includes a large amount of work that is near completion, but also detailed technical desktop studies that will underpin regional and localised drill targeting. These are expected to deliver strong value creation catalysts for shareholders.

Proposed upcoming work programs and key catalysts include:

Metallurgical Test Results from Hotinvaara: These results will be important to assess the economic potential of the project, not only at Hotinvaara itself, but throughout the Pulju Belt, given that this style of mineralisation appears to be widespread based on historical regional drilling3.Resource Model: The metallurgical testing should allow the Company to refine the Hotinvaara resource estimate based on the laboratory scale nickel and cobalt results.Base of Till (“BOT”) Drilling Database Results: A new database of over 10,000 historical BOT assay samples have been obtained which, combined with the Company’s own recent BOT drilling at the newly granted Holtinvaara licence, will allow the Company to further assess nickel, cobalt and copper prospectivity across the Pulju Belt.Regional Structural Analysis for High Grade Targeting: An important component in targeting high-grade nickel and copper sulphide mineralisation within the Pulju Greenstone Belt will be to undertake detailed regional structural analysis and interpretation. This will highlight structural features that may host depositional trap sites for remobilised sulphides and can be integrated with existing datasets such as the detailed magnetic survey and the BOT sampling database to prioritise drill targeting.Strategic Discussions (2024): Ongoing strategic investor and joint venture discussions with various interested parties are expected to be finalised in 2025.

Click here for the full ASX Release

This post appeared first on investingnews.com

Sarama Resources Ltd. (“Sarama” or the “Company”) (ASX:SRR, TSX- V:SWA) is pleased to advise that the Company’s acquisition of a majority interest(1) in the Cosmo Gold Project (the “Project”) in Western Australia is advancing towards completion with a majority of the key conditions precedent having been met.

The acquisition received strong support from shareholders at the Company’s recent Annual General Meeting and Sarama has received requisite approval and conditional approval from securities exchanges in Australia and Canada respectively. The Company anticipates the Transaction (defined below) will be completed in late October 2024.

The 580km² project(2) covers the entirety of the Cosmo-Newbery Greenstone Belt and is located approximately 85km north-east of Laverton in a region known for its prolific gold endowment (refer Figure 1). As one of the last effectively unexplored greenstone belts in Western Australia, the Project presents a unique and compelling opportunity for the Company.

Highlights

Sarama acquiring a majority interest in and control of Cosmo Gold Project in Western Australia Majority of key closing conditions satisfied and completion of transaction anticipated in late October 2024Sarama acquiring an initial 80% interest(1) with ability to increase to 100% in the majority of the Project(1)580km² landholding capturing +50km strike length in highly prospective gold producing region; 95km from both the world-class Gruyere Mine and Laverton gold districtProject captures one of the last effectively unexplored greenstone belts in Western Australia; virtually no effective exploration undertaken for several decades Soil geochemistry program to commence imminently to generate regional targets in unexplored areas

Sarama’s President, CEO & MD, Andrew Dinning commented:

“We are pleased to have made significant progress toward completing the acquisition of the Cosmo Gold Project which we view as a compelling opportunity for the Company. Sarama’s shareholders voted overwhelmingly in favour of the Transaction and we look forward to closing the deal and embarking on more extensive exploration programs which will follow on from field programs currently being mobilised.”

Cosmo Newbery Project

The Project is comprised of 7 contiguous exploration tenements covering 580km² in the Eastern Goldfields of Western Australia, approximately 85km north-east of Laverton and 95km west of the world-class Gruyere Gold Mine. The Project is readily accessible via the Great Central Road which services the Cosmo Newbery Community.

The Project captures one of the last unexplored greenstone belts in Western Australia and with a strike length of +50km, the Cosmo Newbery Belt represents a large and prospective system with gold first being discovered in the area in the 1890’s. Multiple historical gold workings are documented within the Project area and work undertaken to date, has identified multiple exploration targets for follow up.

Despite this significant prospectivity, the Project has seen virtually no modern exploration or drilling of merit due to a lack of land access persisting over a significant period. As a result, the Project has not benefited from the evolution of geochemical and geophysical techniques which now facilitate effective exploration in deeply weathered and complex regolith settings which is particularly pertinent given approximately 75% of the Project area is under cover.

Following the relatively recent securing of land access, the Project is now available for systematic and modern-day exploration programs to be conducted on a broad-scale. It is anticipated that future exploration programs will initially follow-up preliminary targets generated from regional soil sampling and limited reconnaissance drilling programs, a majority of which extended to approximately 5m below surface with a small percentage extending up to 30m below surface.

Click here for the full ASX Release

This post appeared first on investingnews.com

In an address to the 79th United Nations General Assembly Tuesday, Iranian President Masoud Pezeshkian claimed to be the one playing peacemaker in the Middle East and, in a juxtaposition, accused Israel of supporting terrorism.

Pezeshkian called on the U.N. to ‘examine’ modern history and said, ‘Iran has never initiated a war. It has only defended itself heroically against external aggression, causing the aggressors to regret their actions,’ Pezeshkian said, adding that Iran does not ‘occupy’ territory or exploit resources for other countries. 

‘It has repeatedly offered various proposals to its neighbors and international fora aimed at establishing lasting peace and stability,’ he said. ‘We have emphasized the importance of unity in the region and establishing a strong region.’

Iran’s claims of playing peacemaker in the Middle East are in stark contrast to its repeated involvement in proxy wars across the region, in which it has been heavily involved in Syria and Yemen, drawing deeper the lines of division between it and other powerful Sunni nations like Saudi Arabia and the United Arab Emirates.

But Iran’s deep involvement in the Middle East extends to one other area not generally endeavored by a nation state — terrorism. 

While Pezeshkian claimed from the podium Tuesday that Israel both ‘covertly and overtly’ supports the Islamic State, Tehran is widely known to have not only backed terrorist organizations ardently opposed to Israel like Hamas, Hezbollah and the Houthis, but it has also helped build bridges between the Taliban and al Qaeda, providing the terrorist networks with arms, funding and even safe haven.

‘The Islamic Republic of Iran seeks to safeguard its own security, not to create insecurity for others,’ Pezeshkian also claimed. ‘We want peace for all, and seek no war or quarrel with anyone.’

Iran, which has also increasingly aligned itself with top adversarial nations of the West like Russia and North Korea, attempted to claim it has not chosen a side when it comes to Russia’s illegal war in Ukraine, despite it having provided Moscow with drones and, most recently, short-range ballistic missiles for its war effort.

‘We seek lasting peace and security for the people of Ukraine and Russia. The Islamic Republic of Iran opposes war and emphasizes the urgent need to end military hostilities in Ukraine. We support all peaceful solutions, and believe that dialog is the only way to resolve this crisis,’ the Iranian president said. 

‘We need a new paradigm to address global challenges. Such a paradigm must focus on opportunities, rather than being obsessed with perceived threats,’ he added. 

Pezeshkian called on ‘neighboring and brotherly countries’ to unite with Iran to advance what is best for the Middle East.

But the Iranian president also spoke directly to the U.S. and said Tehran is looking to ‘transcend’ the obstacles of the past and move forward with Washington, despite its withdrawal from the 2015 nuclear agreement under President Trump and the subsequent sanctions and trade restrictions that have, in large part, cut it off from the rest of the world. 

‘My message to all states pursuing a counterproductive strategy towards Iran is to learn from history,’ Pezeshkian said before calling the U.S.’s sanctions a ‘crime against humanity.’

‘We have the opportunity to transcend these limitations and enter into a new era,’ he added.

But Pezeshkian’s comments rang hollow for some and, according to Behnam Ben Taleblu, Iran expert and senior fellow with the Foundation for Defense of Democracies, they were riddled with ‘propaganda.’

‘Short but certainly not sweet,’ he told Fox News Digital. ‘Pezeshkian dangled the prospect of a renewed diplomatic agreement, something which his regime will use as a literal shield against pressure on its expanding nuclear program and accountably against supporting a multi-front war against Israel.’

‘By blaming former President Trump in his speech and by bringing along technocratic staff involved in the JCPOA back in 201[8], Pezeshkian hopes to win support with certain crowds in Washington and Europe and run the clock against SnapBack, which expires in 2025,’ Ben Taleblu added. But despite Pezeshkian’s honeyed comments on renewing diplomatic conversations with the U.S., they are not expected to curry much favor with either side of the political aisle as it continues to ramp up its development of nuclear weapons.


This post appeared first on FOX NEWS

In the weeks following the nearly back-to-back assassination attempts against former President Donald Trump, the Senate unanimously passed bipartisan legislation that would boost Secret Service protection to major presidential candidates.

Sen. Tim Scott (R-S.C.) and Sen. Rick Scott (R-Fla.) introduced the Protect Our President Act, which will enhance U.S. Secret Service (USSS) protection for presidential nominees to the same level currently provided for a sitting president. However, a nominee is free to decline this. 

It would additionally extend that presidential-level protection to vice presidential nominees, in this case to Sen. JD Vance, R-Ohio, and Gov. Tim Walz, D-Minn.

‘Over the course of just 65 days, two deranged individuals have tried to kill President Donald Trump, and one was able to shoot him in the head,’ Scott wrote during the bill’s introduction.

Additionally, the bill would require regular reporting from the Secret Service to leaders of the House and Senate on the status of candidates’ protection. 

The regular reporting would mandate that the agency provide a report of the nominee’s protection every 15 days during a presidential election year.

Such reports would include threat levels, security measures, costs, amount of personnel assigned and any needs that are unmet. 

The report would also include the threat level for each presidential nominee, the security measures being implemented, associated costs, the number of personnel permanently assigned to each protective detail, and any unmet security needs.

In a press release, Sen. John Barrasso, R-WY, said that the bill will ‘ensure’ that all candidates receive proper protection.

‘Our nation has witnessed two horrifying assassination attempts on President Trump. We were merely inches away from a catastrophic event that would have changed the course of our history,’ he wrote. ‘This cannot happen again. The Protect Our Presidents Act will ensure all presidential nominees receive the same level of protection provided to the president. This will give law enforcement the resources they need to keep President Trump and all of the candidates safe.’

Fox News Julia Johnson, David Spunt and Kelly Phares contributed to this report.


This post appeared first on FOX NEWS

The Fed’s rate cuts set the real estate world abuzz, with lower mortgage rates giving homebuyers a little more breathing room. According to the Case-Shiller housing data released on Tuesday, home prices rose 5% in August. Nevertheless, Wall Street expects demand to increase slowly.

The proof? Take a look at the market. The Sector Summary Data Panel on your StockCharts Dashboard displays the performance of the S&P 500 sectors. The image below looks at a three-month performance.

FIGURE 1. SECTOR SUMMARY. Over the last three months, real estate has been the top-performing sector.Image source: StockCharts.com. For educational purposes.

Looking at Real Estate Select Sector SPDR Fund (XLRE) as the sector proxy, you can see that capital has been flowing into real estate stocks over a period of months as Wall Street has been betting on the Fed cutting rates—and it finally happened last week. Below is a weekly chart of XLRE.

CHART 1. WEEKLY CHART OF XLRE. Note that the Distance From 52-Week Highs indicator, which is available in StockChartsACP, indicates XLRE is very close to its one year high.Chart source: StockChartsACP. For educational purposes.

Note the following details:

  • XLRE’s all-time high is at $47.53 (adjusted for dividends), which is not too far from where the ETF is trading.
  • Looking at the Distance From Highs indicator, XLRE is about 0.4% below its 52-week high—answering the question “What does Wall Street think of the real estate sector’s prospects in the coming months?”
  • The StockCharts Technical Rank (SCTR, pronounced “scooter”) line is currently above the 90 line (see red horizontal line on the SCTR indicator), meaning that multiple indicators are bullish across several timeframes.

XLRE has been on a roll, but the big question is—has the real estate rally run its course, or does it still have enough momentum to breach its 52-week high?

Let’s look at a daily chart of XLRE using SharpCharts.

CHART 2. DAILY CHART OF XLRE. There’s lots of space to pull back before the uptrend calls it quits.Chart source: StockCharts.com. For educational purposes.

After bottoming out in April, XLRE has been climbing and is just 0.4% away from its 52-week high—$45.04 (adjusted for dividends). Last week’s tiny pullback stayed within the first Quadrant Line, signaling strength.

Signals are mixed, however: while the On Balance Volume (OBV) indicator shows solid buying pressure, the Money Flow Index (MFI), which operates like a volume-weighted Relative Strength Index (RSI),  suggests otherwise. With prices rising and buying pressure dropping—a bearish divergence—a short-term dip might be on the horizon. If XLRE falls, look to the area within the orange circle as a wide potential support range. More specifically…

  • The 50-day simple moving average (SMA) may climb to the space between the first and second quadrant lines (25% to 50% retracement, respectively); both the 50-day SMA and the first and second quadrants serve as a favorable support area to buy into strength.
  • The Ichimoku Cloud, which is currently bullish, projects a deeper range of potential support within the next 26 days. The lowest point currently matches the 75% range of the quadrant line (third quadrant).
  • If XLRE falls below the third quadrant, marking a 75% retracement, the current uptrend could be in trouble. In this case, it might be time to pause and reassess the technical and fundamental situation before proceeding with any trades.

Closing Bell

The real estate sector has been riding high before and after the latest Fed’s rate cut. Based on the market action, Wall Street has been bullish. However, momentum seems mixed, hinting at a possible short-term breather. If this occurs, watch key support levels to distinguish strong buying opportunities from danger zones.



Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

In this video from StockCharts TV, Julius assesses current rotations in asset classes and US sectors using Relative Rotation Graphs, finding a lot of contradictory behavior. Taking a step back, he focuses on the weekly timeframe to find some more meaningful trends and shy away from day-to-day noise. He then compares the current rotations and setups in price charts with those that occurred at the end of 2021 and moving into 2022, noting some strong analogies that warrant a continued cautious approach to the markets.

This video was originally published on September 24, 2024. Click anywhere on the icon above to view on our dedicated page for Julius.

Past episodes of Julius’ shows can be found here.

#StayAlert, -Julius

Johnny Cash will be saying ‘Hello Out There’ to myriad tourists visiting the U.S. Capitol from now on – after congressional leaders got together to unveil a statue of the legendary musician.

Both Republican and Democratic leaders joined members of Cash’s family for the ceremony, which attracted hundreds of other attendees on Tuesday.

The statue is the latest to be unveiled in the halls of Congress and the first of a professional musician – something House Speaker Mike Johnson, R-La., noted in his opening remarks.

‘Johnny Cash is the perfect person to be honored in that way. He was a man who embodies the American spirit in a way that few could. He was an everyday man. He loved to fish, and he suffered the pain of loss. He was the son of southern farmers and of the Great Depression,’ Johnson said. ‘Americans related to Johnny Cash.’

He acknowledged that some people may wonder why Cash was being honored in the way of historic trailblazers, past presidents and dignitaries.

‘The answer is pretty simple. It’s because America is about more than laws and politics,’ Johnson said. ‘Johnny Cash gave a voice to the struggles of the people who were downtrodden and marginalized and who were too often forgotten.’

‘When we forgot about the factory line worker, there was Johnny Cash singing about that fellow who built the car one piece at a time. When we had forgotten about our troops, there was Johnny Cash, the man in black, remembering the 100,000 who died for that [flag]. When we forgot about the Native American, there was Johnny Cash, reminding us of the petrified but justified Apache tears.’

House Minority Leader Hakeem Jeffries, D-N.Y., noted in his own remarks that music has long been a part of American culture.

‘From the very beginning, in the DNA of this great country, artistic creativity has been recognized as incredibly important to our growth, our culture and to the American experiment,’ Jeffries said. ‘Throughout his life, he created a catalog of profoundly powerful works that cannot be ascribed to a single genre. At different times, he was country, blues, rock and roll and gospel.’

‘At all times, Johnny Cash was uniquely American. He was a trailblazing, transformational and trend-setting figure.’

Cash’s relatives participated in the ceremony as well – Adm. Carey Cash, a chaplain and the musician’s great-nephew, delivered the opening prayer.

The statue shows Cash with a guitar on his back and a Bible in hand. His is one of three statues at the Capitol holding the Bible, another being Billy Graham’s.

Each state selects two statues to be represented in the halls of the U.S. Capitol.

Arkansas’ state legislature voted in 2019 to replace statues of two lesser-known figures with Cash and civil rights activist Daisy Bates. The latter statue debuted earlier this year.

The Cash statue was created by Little Rock artist Kevin Kresse.

It’s a nod to Cash’s own roots, growing up in Dyess, Arkansas, on a cotton farm before going on to become one of the best-selling musical artists in history.


This post appeared first on FOX NEWS

United Kingdom Prime Minister Keir Starmer made an unfortunate gaffe during a speech at his party’s conference Tuesday when he mistakenly called for the return of ‘sausages,’ instead of hostages, held by Hamas in the Gaza Strip. 

Starmer was speaking at the Labour Party’s annual conference in Liverpool when he called for a de-escalation between Lebanon and Israel, as well as a cease-fire in Gaza. 

He also called for the return of hostages being held by the terror group when he slipped up, before quickly recovering. 

‘I call again for an immediate cease-fire in Gaza, the return of the sausages — the hostages — and a recommitment to the two-state solution: a recognized Palestinian state alongside a safe and secure Israel,’ he said.

The mistake quickly went viral.

During his remarks, Starmer was also heckled by a spectator in the audience who shouted about Gaza. 

‘This guy’s obviously got a pass from the 2019 conference. We’ve changed the party,’ Starmer joked in response, Reuters reported. ‘While he’s been protesting, we’ve been changing the party. That’s why we’ve got a Labour government.’

Multiple hostages are still being held in Gaza nearly a year after the group attacked Israeli communities Oct. 7, sparking the latest conflict between Hamas and the Jewish state. 

Israel has proposed ending the war if Hamas releases the remaining hostages, along with the demilitarization of Gaza and the establishment of an alternative governing body. Hamas has rejected several offers to end the conflict. 

Israel has bombarded Gaza and pledged to hunt down those responsible for the deadly attack. Meanwhile, it has also had to defend itself on a second front against shelling in its north from Iran-backed Hezbollah in Lebanon. 

Israeli forces said they have continued to carry out dozens of airstrikes on Hezbollah targets within Lebanon and that artillery and tanks continue to hit targets close to the border.


This post appeared first on FOX NEWS

Secretary of State Antony Blinken could be held in contempt of Congress after a key House committee advanced the penal measure on Tuesday.

The House Foreign Affairs Committee advanced a contempt resolution against the top Biden administration Cabinet secretary, setting it up for a House-wide vote after Congress returns from a six-week recess. A secretary of state has never in history been held in contempt.

‘We have a duty of oversight, and no one’s above the law,’ McCaul told Fox News Digital Tuesday morning.

Speaker Mike Johnson, R-La., told Fox News Digital, ‘I’m sure we will,’ when asked if there would be a House-wide vote on holding Blinken in contempt when Congress returns in November.

If the House votes to hold Blinken in contempt, he would be automatically referred to the Department of Justice (DOJ) for criminal charges.

 

The House GOP majority has already held another Biden official in contempt – Attorney General Merrick Garland. The DOJ declined to prosecute, however. 

House Republicans also voted to impeach Homeland Security Secretary Alejandro Mayorkas, though it was quickly dismissed by the Senate.

McCaul has accused Blinken of stonewalling his committee’s probe into President Biden’s chaotic withdrawal from Afghanistan in August 2021.

Blinken was absent from the hearing portion due to a full schedule at the United Nations General Assembly in New York this week, however.

In a letter sent to McCaul over the weekend, Blinken urged McCaul to withdraw his subpoena and efforts to hold him in contempt, saying he was ‘disappointed’ with the Texas Republican.

‘As I have made clear, I am willing to testify and have offered several reasonable alternatives to the dates unilaterally demanded by the Committee during which I am carrying out the President’s important foreign policy objectives,’ Blinken wrote.

But McCaul dismissed the Biden official’s arguments.

‘I gave him any day,’ McCaul challenged. ‘Any day in September, and he refuses.’

‘He doesn’t have one day in the whole month of September to show up before Congress? I mean, I’ve been very flexible with him since May to try to get cooperation.’

It comes after McCaul’s committee released an explosive report detailing Biden administration shortfalls that led to the hasty military withdrawal from Kabul following a lightening-fast takeover of the country by the Taliban.

The Republican-led paper opens by hearkening back to President Biden’s urgency to withdraw from the Vietnam War as a senator in the 1970s. That, along with the Afghanistan withdrawal, demonstrates a ‘pattern of callous foreign policy positions and readiness to abandon strategic partners,’ according to the report.

The report also disputed Biden’s assertion that his hands were tied to the Doha agreement former President Trump had made with the Taliban establishing a deadline for U.S. withdrawal for the summer of 2021, and it revealed how state officials had no plan for getting Americans and allies out while there were still troops there to protect them.

Two recent House contempt votes that resulted in criminal charges were those against former Trump administration advisers Steve Bannon and Peter Navarro. Both were held in contempt by the previous House Democratic majority for failing to comply with subpoenas from the now-defunct House select committee on Jan. 6.


This post appeared first on FOX NEWS