Ned Schmidt - Insights on the Gold Market – Fri 8 Feb, 2019

Short and Long Term Factors To Consider For Gold

Ned Schmidt, Founder of the Value View Gold Report joins me to share some positive thoughts he has for the PMs. While not usually a short term guy he points to an oscillator he uses that is pointing to a buy signal early next week. Also we look at the long term monthly chart and the fact that gold is not testing the high part of the range.

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  1. On February 8, 2019 at 10:53 am,
    Silverdollar says:

    Good to hear from Ned. The guy is enjoyable to listen to. If that flag forming on the daily chart of gold has any validity, perhaps it will prove it about Tuesday of next week. We’ll see.

  2. On February 8, 2019 at 11:42 am,
    jb says:

    Yeah, thanks Fellas. FWIW I like SBGL lately. I see its a top holding in sprotts $SGDJ as well.

  3. On February 8, 2019 at 11:44 am,
    jb says:

    I also took a bite of BOIL. I’ll thank Chris V. if it works out.

  4. On February 8, 2019 at 1:28 pm,
    spanky says:

    gld:$spx daily chart actually closed below cloud resistance today. Not a very positive sign IMO.

    AXU closed near the highs of the week FWIW. It’s fairly illiquid, so there is not much to take away other than it’s better than being down for the week.

  5. On February 8, 2019 at 1:50 pm,
    spanky says:

    Another ratio that I have been watching is $HUI:GDX. The HUI excludes streamers and has underperformed GDX massively over the last few years.

    Well currently, there are at least hopeful signs that it is could finally be getting up off the ground vs GDX and has struck a final low. This is a very positive development for the entire sector.

  6. On February 8, 2019 at 1:53 pm,
    OOTB Jerry says:

    Gold held up well, considering the Chinese were on holiday……Monday should be interesting…….
    Silver is another story……I am surprised it is not above $16
    Palladium …… the STAR of the Week……………..

  7. On February 8, 2019 at 2:17 pm,
    spanky says:

    GCC got slammed below the 20 WMA this week and closed at the week’s low.

    Wouldn’t be surprised to see it gap down next week to make a run for the lower weekly BB. I can’t imagine silver and gold will be up if that happens, but who knows. Regardless, commodities look absolutely cooked for the year.

    Powell knew exactly what he was doing a few weeks ago. Unbelievable. buying the complex has been a catastrophe in absolute terms. Relative to the stock market, it’s even worse, much much worse. Wow.

  8. On February 8, 2019 at 2:22 pm,
    spanky says:

    So Powell produced a 4 thousand point rally in the Dow and simultaneously ignited a ramp in USD and a monkeyhammering of the commodity complex (GCC).

    That is in-freaking-credible.

  9. On February 8, 2019 at 2:24 pm,
    spanky says:

    it’s quite possible we get a waterfall decline in GCC. We are talking about lows in the complex that have not been seen in 50+ years. lol.

  10. On February 8, 2019 at 2:36 pm,
    spanky says:

    gold is in the process of making a moonshot vs the rest of the commodity complex.

    Even silver looks good.

    • On February 9, 2019 at 8:20 am,
      Excelsior says:

      The currently not so “Precious” Silver to soon be more than just “Precious”

      February 7, 2019

      “Silver is looking to regain its “precious status” this year as all major signs are pointing to a bullish outlook, according to the Hightower Report.”

      “The elements working in favor of silver this year include increasing investment demand, declining supply, boost from other rallying precious metals, and outside market forces, the analysts from Hightower Report wrote.”

      “Lower production in 2019 is likely because of the low average price of $15.00 from 2018 has put pressure on miners that are reliant on silver-only production,” the analysts wrote. “Industrial usage accounts for more than 50% of total silver demand, so the ebb and flow of the global economy should continue to be a major force in determining prices.”

      “Also, a rally in gold and palladium, as well as a retreat in the U.S. dollar, are all giving silver a boost, as metals react to a more dovish Federal Reserve.”

      “Historically, gold has been the most influential force for silver, and it looks like it will be in a position to lead silver higher over the next few quarters,” the Hightower Report said. “Even the dollar could become a positive force for metals, as it looks ready to turn lower after its 11% rally in 2018.”

  11. On February 8, 2019 at 4:54 pm,
    Dick Tracy says:

    Have a look at GBR Great Bear Resources, it has been on a tear. Watch gold go up if like Frank Holmes say’s The Fed drops the interest rate. DT

  12. On February 9, 2019 at 8:17 am,
    Excelsior says:

    As surely as the Sun does, Gold too will rise Again

    “After seven disappointing years – in US dollars at least – it is hard to shake off some scepticism. That said, gold is showing vigour in no less than 72 currencies where it is at or close to an all-time high.”

    “Looking ahead – it is our view that gold is currently firing on 2 cylinders – out of 4. So the best is yet to come.”

    “The excellent news is that gold is seeing strong buying from the highest quality, glacial if you like, and perhaps less apparent sectors – that is Central Bank buying and from institutional investors. The official sector is acquiring gold at the fastest rate since 1971 when the gold standard ended. Not only is the tonnage impressive, it is also the number of participants involved which suggests this may have legs to run. It begs the question what can they see, that others have not.”

    “In 2018 Central Banks bought 651 tonnes of gold, up 74% from the year before. Among them, Russia stills holds only 17.6% of its reserves in physical gold while China is at only 2.3% – both well below the 65% that is the norm in developed economies.”

    • On February 9, 2019 at 8:22 am,
      Excelsior says:

      If Central Banks are Buying Gold in Record Volumes, High Time You Open Your Eyes!

      February 5, 2019

      “Something big is happening in the gold market right now, and nowhere is that more apparent than in central banks of emerging economies. Last year was a watershed in the size of official gold purchases, as banks added an incredible 651.5 tonnes (worth some $27.7 billion) to their holdings, according to the World Gold Council (WGC). Not only is this a remarkable 74 percent change from 2017, but it’s also the most on record going back to 1971, when President Richard Nixon brought a formal end to the gold standard. In the final quarter of 2018 alone, central banks purchased as much as 195 tonnes, the most for any quarter on record, according to leading precious metal research firm GFMS.”

  13. On February 9, 2019 at 8:25 am,
    Excelsior says:

    Column: Looking for answers from Dr Copper? He’s confused as well

    Andy Home – February 8, 2019

    “The metal with the honorary degree in economics is caught between the current reality of deteriorating macro signals and the belief that things will soon get better.”

    “Nowhere more so than in China, the single biggest user of copper and just about every other industrial metal.”

    “More tariffs mean more potential pain for Chinese manufacturers. Fewer tariffs help Beijing to re-stimulate the country’s flagging growth engines.”

    “Stimulus is already on its way…”