Gold Rush’s Todd Hoffman Would Say "What the Frig!"

I admit to being a fan of Discovery Channel’s reality show program on gold mining, Gold Rush. The longest-standing star of the show has been Todd Hoffman, and fans have watched him go from a novice making foolish mistakes to an expert miner producing millions in bullion. He’s a man of faith who does his best not to curse so he replaces his curses with words that make a sailor’s son like me smile. On Thursday he surely would have uttered one of his favorite pseudo-curses, “What the frig!” The intraday chart of spot gold here shows how gold was sinking sharply after the European Central Bank (ECB) actions to further reduce rates and to expand its quantitative easing program. But at a point in the early morning, gold stopped on a dime, reversed course, and soared higher from there. So what the frig just happened then? Allow me to explain to Todd and to the rest of you why the abrupt shift, and what we can expect moving forward. See the report on why the Gold Rush Turned to Slush.

Precious Metal Securities	03-11-16
SPDR S&P 500 (NYSE: SPY)	+1.6%
SPDR Gold Trust (NYSE: GLD)	-1.7%
iShares Gold Trust (NYSE: IAU)	-1.8%
iShares Silver Trust (NYSE: SLV)	-0.7%
Direxion Daily Gold Miners Bull 3X (NYSE: NUGT)	-6.3%
Direxion Daily Gold Miners Bearish 3X (NYSE: DUST)	+5.9%
Market Vectors Gold Miners (NYSE: GDX)	-2.0%
Market Vectors Junior Gold Miners (NYSE: GDXJ)	-3.1%
Goldcorp (NYSE: GG)	-0.9%
Newmont Mining (NYSE: NEM)	-2.5%
Randgold Resources (Nasdaq: GOLD)	-1.7%
Barrick Resources (NYSE: ABX)	-1.6%
Yamana Gold (NYSE: AUY)	-2.2%
Gold Fields Ltd. (NYSE: GFI)	-2.2%
Silver Wheaton (NYSE: SLW)	-1.1%
Coeur Mining (NYSE: CDE)	+2.9%

DISCLOSURE: Kaminis is short GDX. Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only. Article should interest investors in precious metals stocks: Goldcorp (NYSE: GG), Agnico-Eagle Mines (NYSE: AEM), Allied Nevada Gold (AMEX: ANV), AngloGold Ashanti (NYSE: AU), AuRico Gold (NYSE: AUQ), Aurizon Mines (AMEX: AZK), Barrick Gold (NYSE: ABX), Brigus Gold (AMEX: BRD), Charles & Covard (Nasdaq: CTHR), Claude Resources (AMEX: CGR), Commerce Group (OTC: CGCO.PK), Compania Mina Buenaventura S.A. (NYSE: BVN), DRDGOLD (Nasdaq: DROOY), Eldorado Gold (NYSE: EGO), Entrée Gold (AMEX: EGI), Exeter Resource (AMEX: XRA), Gold Fields (NYSE: GFI), Gold Reserve (AMEX: GRZ), Gold Resource (Nasdaq: GORO), Golden Eagle Int’l (OTC: MYNG.PK), Golden Star Resources (AMEX: GSS), Great Basin Gold (AMEX: GBG), Harmony Gold (NYSE: HMY), IAMGOLD (NYSE: IAG), International Tower Hill Mines (AMEX: THM), Jaguar Mining (NYSE: JAG), Keegan Resources (AMEX: KGN), Kimber Resources (AMEX: KBX), Kingold Jewelry (Nasdaq: KGJI), Kinross Gold (NYSE: KGC), Midway Gold (AMEX: MDW), Minco Gold (AMEX: MGH), Nevsun Resources (AMEX: NSU), New Jersey Mining (OTC: NJMC.PK), Newmont Mining (NYSE: NEM), North Bay Resources (OTC: NBRI.OB), Northgate Minerals (AMEX: NXG), NovaGold Resources (AMEX: NG), Richmont Mines (AMEX: RIC), Royal Gold (Nasdaq: RGLD), Rubicon Minerals (AMEX: RBY), Seabridge Gold (AMEX: SA), Solitario Exploration and Royalty (AMEX: XPL), Tanzanian Royalty Exploration (AMEX: TRE), Thunder Mountain Gold (OTC: THMG.OB), U.S. Gold (NYSE: UXG), Vista Gold (AMEX: VGZ), Wits Basin Precious Metals (OTC: WITM.PK), Yamana Gold (NYSE: AUY), Coeur d’Alene Mines (NYSE: CDE), Endeavour Silver (NYSE: EXK), Hecla Mining (NYSE: HL), Mag Silver (AMEX: MVG), Mines Management (AMEX: MGN), Silver Standard Resources (Nasdaq: SSRI), Silver Wheaton (NYSE: SLW), SPDR Gold Trust (NYSEArca: GLD), Market Vectors Gold Miners ETF (NYSEArca: GDX), iShares Silver Trust (NYSEArca: SLV), ProShares Ultra Silver (NYSEArca: AGQ), ProShares Ultra Short Silver (NYSEArca: ZSL), Great Panther Silver (AMEX: GPL), Silvercorp Metals (NYSE: SVM), Paramount Gold and Silver (AMEX: PZG), Pan American Silver (Nasdaq: PAAS) and First Majestic Silver (NYSE: AG).