Kitco Radio – Fri 1 Jun, 2012

Kitco Radio for June 1st

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Al KorelinRoger Wiegand

  1. On June 1, 2012 at 10:34 am,
    Dai Uy says:

    Al and TR:

    Good analysis as always and in particuliar your take on China..

    I see where China and japan are trading directly in the Yuan and the Yen. Isn’t the Yen a weaker currency than our dollar? If so, why would China want Yen unless their Yuan is weaker than everyone thinks? Am confused as most always………………………….

    • On June 1, 2012 at 3:36 pm,
      Big Al says:

      Hi Dai Uy,

      How can any rational human being not be confused in this crazy world?

      The yen to our dollar is .7801 and the yuan is 6.365.

      Big Al

      Big Al

  2. On June 1, 2012 at 10:45 am,
    Dan, calgary says:

    Hi Al and TR

    I bet against silver yesterday because I thought the news was going to be negative and drive the price down. Of course I had no control as the price flipped just before market open. If I’m not mistaken the price went up because that’s what a PM should do!

    Did things work the way they are supposed too today? 😉


    • On June 1, 2012 at 3:37 pm,
      Big Al says:

      Sure looks that way, Dan!

      Big Al

  3. On June 1, 2012 at 11:01 am,
    Matt R. says:

    Great analysis!

    • On June 1, 2012 at 3:37 pm,
      Big Al says:

      Many thanks Matt R!

      Big Al

  4. On June 1, 2012 at 11:13 am,
    Martin says:


    Interesting analysis of Europe. Your guest has touched on the tip of the Europeon iceburg. Europe has a long term problem in that like Japan there populations are not even replacing themselves. Unless this turns around the economic and social (muslim) prospects are not looking good for them. They are suffering from moral and cultural collapse. Harsh words but if what I say is true we again can be thankful that we live in the USA even with our problems.

    It was a nice day for holders of Newmont and Freeport McMoran stock. Gold is going to come back.

    Made some adjustments in portfolio dropped a Canadian Bank and some food companies and replaced them with oil companies and a drug co. The result of this is a increase in dividend income, better PE and improved stock appreciation price when things stabelize.

    I am a great beliver that energy wil recover next year. In the meantime the dividend yeilds are much appreciated with earnings easily covering the dividends by a factor of 3-4 to 1. Again good yieIds. Its going to be a long summer.

    Thanks for your daily analysis.

    • On June 1, 2012 at 1:00 pm,
      Marc says:

      Big Al,
      Yikes…Nadler is at in again. If I would have listened to him years ago. Two things would have happened:
      1. My purchasing power would be severly diminished
      2. I would forever be KICKING myself because my MACRO Fundamentalist intuition would not have been served and I would have NOBODY to blame for myself. Sure, we can’t tell the future, but I know tonite on 06/01/2012 I will be SLEEPING a h___ of a lot better than I would have been if I didn’t have exposure to the PM sector. Oh, yeah, Nadler’s 5% or miniscule rec. allocation insurance opinion is “all wet”. And, IMHO, like the line in JAWS when “We are going to need a BIGGER boat!” ( When they first laid eyes on the 25 foot Big White)

      • On June 1, 2012 at 3:41 pm,
        Big Al says:

        Interesting analogy, Marc!

        Odds are we will need a bigger boat.

        Jon is an interesting guy. We have had many conversations but I have not talked with him for a couple of years. I don’t agree with a lot of what he says, but that doesn’t necessarily mean that he is a bad person. That characteristic is something that I have never seen in him.


        Big Al

        • On June 1, 2012 at 5:03 pm,
          Marc says:

          Just to clarify,
          My shots at Nadler are not anyway PERSONAL; strictly in a business sense. But when I was a neophyte in the marketplace years ago – I listened to him as one of my “sources”. I finally got my head together and made decisions for myself – glad I did. I just can’t “wrap my ahead” around what he continues to say – it can kinda drive me crazy – if I let it! I simply WON’T let it! 🙂

          • On June 1, 2012 at 7:11 pm,
            Big Al says:


            Knowing you, I can’t believe that you would throw personal insults.

            Big Al

    • On June 1, 2012 at 3:38 pm,
      Big Al says:

      Thanks Martin.

      Yep, socially in the world the balances are changing.

      Big Al

  5. On June 1, 2012 at 1:03 pm,
    Marc says:

    oops, hit the wrong button…again…when Sheriff Brody says…….. The same can be said for this financial mess we are in: “We are going to need a bigger allotment of insurance – gold and silver!!”
    All the best,

    • On June 1, 2012 at 3:42 pm,
      Big Al says:

      Great point Marc!

      Big Al

  6. On June 1, 2012 at 2:20 pm,

    Nadler is your pal peter grandich #1 perma bear, as well as his #1 something else, but we’ll keep it clear here. I know on Kitco you cant bash him, but my god he has been continually wrong. Do you smell an agenda??

    • On June 1, 2012 at 3:45 pm,
      Big Al says:

      If there is any agenda Edward, it could be that Kitco is covering its basis.

      Jon does say to have 5% in gold.

      I found the article of his today to not necessarily be bearish, but then I am probably looking at it from a very different standpoint. If people disagree with me on my views re: gold and silver, I don’t take offense.

      I have been spot on since I changed the focus of our program way back in about 2001.

      To me, back then the writing was on the wall and nothing has changed in a positive direction.

      Best to you,

      Big Al

  7. On June 1, 2012 at 2:58 pm,
    Karen says:

    Al & Rog.
    Great analysis. Aside from the bleak jobs figures, all the global derivatives are still floating around. No one in their right mind would “sell in May” this year.

    • On June 1, 2012 at 3:46 pm,
      Big Al says:

      Some did and, at least today, they paid dearly!


      Big Al

  8. On June 1, 2012 at 4:17 pm,
    John W. Robertson says:

    That was a nice extended bit by TR. Not obviously noted but implied, is that gold went up so much with a poor economic indicator — jobs being down. If were are to believe those who are bearish on gold, one of their chief tenets is gold is a commodity, and slower-growth = dropping gold price. Today, we just saw the opposite. Slower job growth meant a higher gold price. So much for being a commodity.

    I’m sure Spain is helping, as are rumblings about state budget deficits, and that horrible, horrible bond price of 1.51 that Roger reported. But it seems like it was the “jobs” news that really moved gold. It didn’t even take a black swan event.

    I wanted to post earlier this week that gold will probably surge before July, due to the above and a couple of other things I watch. Wish I did…I’d look like a genius today! But in all truthfulness, there were signs it was coming early this year. It used to be August/Sept, last year it was July. This year it’s June.

    Dan in Calgary, Martin (UK), Richard, I certainly could see your points of view. It looked like PM’s should go down or sideways a little longer. Today’s move was a surprise no matter how anyone viewed things just yesterday. Just goes to show you gotta be ready for moves either way in this crazy market.

    • On June 1, 2012 at 7:12 pm,
      Big Al says:

      Yes you do, John W, yes you do.

      Big Al

  9. On June 1, 2012 at 4:46 pm,
    Richard says:

    It’s interesting that there is now all kinds of technical confusion based on the moves of the conventional markets and gold today. Silver didn’t respond as much and neither did some solid gold stocks. The dow/gold ratio which moved above resistance has now fallen below that resistance down trend line again but there’s a huge gap in it’s move down. There’s a gap with the upper move in gld. The conventional markets took out all kinds of resistance. All I can say is right now the double bottom has held. I would still be cautious here and we’ll know if we have a new trend in the next 2 weeks. All I know is that the odds of any good news to hold up the conventional markets is problematic right now. It was one of the craziest days i’ve seen technically in a long time. The good thing is that gold is once again well within its channel. The longer it stays there the least it should breakdown with the conventional markets. The Euro should stabilize a little next week and after that the dollar should continue its’ trend up. The Euro really didn’t have much of a move today.

    • On June 1, 2012 at 5:07 pm,
      Marc says:

      Does anybody know where Mr. Mark A., went to? Where is Irish, Jerry and all the rest of the gang. Hope all is well with everyone!
      All the best,

      • On June 1, 2012 at 7:15 pm,
        Big Al says:

        Not a clue, Marc. I also mess their comments.


        Big Al

    • On June 1, 2012 at 7:14 pm,
      Big Al says:

      Hi Richard,

      Great job in the interview earlier.

      All you family members, be sure to listen to Richard on the Weekend Edition.


      Big Al

  10. On June 1, 2012 at 5:31 pm,
    Mark Alan says:

    Hello Marc

    I was just checking in today, as I have been very emotionally occupied with some severe events in my family, my own life, and I just received a phone call today that one of my uncles was given between two days and two weeks to live, since he has terminal cancer.

    Doctor Richard has posted some EXCELLENT technical situations that I think people here need to pay very close attention to, especially the fact regarding the “gap” in GLD’s movement today, as well as silver’s failure to respond as strongly as well as SOME OF THE MAJOR MINING STOCKS. This is important. The USD is starting to show a little weakness but I believe it is just a pause that refreshes. Unless they come up with something over the weekend in Europe, things are going to get even more volatile, but don’t be surprised to see the conventional markets make a nice bounce and gold to possible trade back down to fill those gaps. LISTEN TO THE DOC even if you are not a patient of his, then become a student of his.

    i won’t be posting here much in the near future as there is just far too much to take care of right now and things are not looking good for myself…oh well…life goes on.

    thanks for thinking of me though…I really appreciate it Marc

    remember…stay frosty

    • On June 1, 2012 at 5:53 pm,
      Marc says:

      Dear Mark A.,
      I am sure I speak for all the fine folks here…our heart and prayers go out to you and your family! Hang in there, pray and above all else…STAY STRONG, BE CALM (FROSTY) AND CARRY ON OUR FRIEND!
      All the very best,

    • On June 1, 2012 at 6:04 pm,
      Richard says:

      Mark, I’m sorry to hear about your situation. Thank you for the nice compliments. I hope I’ll always be able to meet your expectations. I hope you won’t be gone long since I really enjoy your comments and positive attitudes. Just remember that none of us are in complete control of our lives and that we find our strength in the one that created this world and us. May God bless you and your family in this difficult time. Doc.—I’ll be thinking and meditating about you and your situation.

    • On June 1, 2012 at 7:16 pm,
      Big Al says:

      Hi Mark Alan,

      I will stay frosty and pray for you.

      You strike me as being a very bright fellow. Remember that God throws nothing at us that we cannot handle.

      God Bless,

      Big Al

    • On June 1, 2012 at 10:13 pm,
      John W. Robertson says:

      Some like to think a bit about a comment before they leave one. And if things aren’t going too well, it can be hard to do that.

      Take any and all time you need or want Mark A, and God bless your uncle, yourself and your whole family.

  11. On June 1, 2012 at 5:59 pm,
    Jody D says:

    Mark Alan,
    Prayers and Peace to you!
    Jody D

  12. On June 1, 2012 at 7:17 pm,
    Big Al says:

    And who says we don’t have a very caring and concerned family!

    Big Al