Exclusive Insights on the Gold Market – Thu 18 Apr, 2019

Recapping The Set Up For Gold, Silver, and The Stocks

I chatted with Craig Hemke today about the overall set up of the precious metals and the underlying stocks. We start with the Comex contracts and a stat that Craig shared on Twitter last night. Silver contracts on the Comex are now above 50% of the total gold contracts. This is an anomaly as usually there are more than double the amount of gold contracts. We also touch on the selloff in the gold and silver mining shares when the metal prices have been stable.

Click here to visit Craig’s site for more metals focused commentary.

View related posts on: , , , ,

Comments:
  1. On April 18, 2019 at 5:55 pm,
    Excelsior says:

    (PGE) (PGEZF) Group Ten Reports Platinum, Palladium, Nickel, Copper and Cobalt Intercepts from the Camp Zone Target Area, Stillwater West Project, Montana, USA

    by @nasdaq on 11 Apr 2019

    “This is the third in a series of planned news releases to report results of 2018 exploration programs and on-going data synthesis and modeling work at the Company’s flagship platinum group element-nickel-copper (“PGE-Ni-Cu”) project adjacent to Sibanye-Stillwater’s high-grade PGE mines in the Stillwater Igneous Complex. ”

    https://ceo.ca/@nasdaq/correction-group-ten-reports-platinum-palladium

    • On April 18, 2019 at 6:02 pm,
      Excelsior says:

      (PGE) (PGEZF) Group Ten Metals Is Systematically Unveiling One Of The Most Compelling, Gigantic PGE-Ni-Cu Projects In Years – And It’s Right Under Your Nose.

      Mar. 4, 2019 – SvenGP’s Blog

      https://seekingalpha.com/instablog/48701604-svengp/5277198-group-ten-metals-systematically-unveiling-one-compelling-gigantic-pge-ni-cu-projects-years-s

      • On April 19, 2019 at 11:09 am,
        Charles says:

        I finally broke down and bought some. Still no metallic, the only one of the dynamic trio I still don’t own!

        • On April 19, 2019 at 5:25 pm,
          Excelsior says:

          I’ve considered buying some more myself as the prices are just in the toilet, but they keep doing great exploration work near Stillwater/Sibanye’s property so eventually the analysts and investors will wake up to their property there, and the one adjacent to the Nickel Creek Platinum project (the old Wellgreen Platinum company).

  2. On April 18, 2019 at 6:47 pm,
    Excelsior says:

    Becoming a Hindu
    Jeff Thomas – Apr 18, 2019

    “Elsewhere in the world, governments of most western countries have succeeded in convincing roughly half of their populations that wealth is evil and shameful. It’s okay for a rapper to wear several pounds of gold jewellery, but it’s immoral for the average person to have a few eagles or maple leafs stored for a rainy day.”

    “And that means that his wealth is at greater risk. Governments tend to be parasitic creatures with no moral compass whatever. They’ll do whatever they can to diminish the power of the individual and to separate him from his wealth. The system of taxation is essentially a shakedown operation. ”

    “In order for their governments to pay for the new socialism that’s on the way, they’re going to have to balance the equation by taking from someone and that someone will be the guy who has retained wealth (however great or small.)”

    His wealth will be taken from him for “the greater good.”

    “As every Indian – even those of limited means – understands, the greatest protection from such looting by governments is to liquidate assets and convert the proceeds into precious metals.”

    http://www.321gold.com/editorials/thomas/thomas041819.html

    • On April 18, 2019 at 9:14 pm,
      Dick Tracy says:

      Most humans are losers at the game of life, they simply can’t deal with the vast amount of change required to cope these days, socialism in the form of a guaranteed income is coming. State Socialism as well as technology is ushering in the decline of our species. There would be hope for us if we could stop unnecessary violence like war, but our brains aren’t advanced enough. DT

    • On April 19, 2019 at 6:32 am,
      OOTB Jerry says:

      Especially the GOVT LOOTERS…….

  3. On April 18, 2019 at 10:25 pm,
    cfs says:

    Socialism is not coming……people may want it in theory, but in practice they actually do not.
    Why do you think there are so many illegals coming into the US?
    Is it not because they value becoming richer?
    Some do enter and choose not to work, but most do not. Most actually work hard, often at unpleasant jobs….back-breaking work on farms…..smelly dirty jobs in slaughter houses……hot jobs as roofers, sweating in the sun.
    What drives these workers is the desire to become richer than they could become back in their home countries. Capitalism and free enterprise, as uncomfortable as it may be to those of us living in the US, is not dead.
    If you think Marxists like Bernie, live as I tell you not like I do, Sanders will actually become President, I believe you are very mistaken.

  4. On April 19, 2019 at 1:07 am,
    Excelsior says:

    THERE’S A BIG MACRO MOVE BREWING IN MARKETS

    Alex Barrow of Macro Ops, Global Macro Fanatic – March 25, 2019

    “Volatility in gold as measured by the width of its monthly Bollinger Band is at levels last seen over 17-years ago, in 02’ right before the barbarous relic began its decade-plus run.”

    “Markets tend to work like rubber bands in a way. The tighter they’re wound up, the more explosive they unravel. In other words, compression regimes lead to ones of expansion. And the size and velocity of the move often mirror the preceeding level of contraction in vol. There are logical reasons for why this occurs (it has to do with positioning and narrative cascades).”

    https://macro-ops.com/theres-a-big-macro-move-brewing-in-markets/

    • On April 19, 2019 at 1:19 am,
      Excelsior says:

      Bondholders take on forex risk as hedging costs soar

      Unhedged buying of US bonds opens foreign investors to losses if dollar falls

      Colby Smith and Robin Wigglesworth – April 17, 2019

      “The soaring cost of buying protection against dollar gyrations is spurring more foreign investors to buy US bonds “unhedged”, raising the risk of painful losses and wider market ructions if the US currency weakens.”

      “With the trade-weighted dollar near its most expensive levels in 20 years and US interest rates high compared to Europe and Japan — despite the Federal Reserve’s dovish turn this year — the cost for foreign investors to insure, or hedge, against fluctuations is near an all-time high.”

      “The effect is to turn US Treasuries, a risk-free staple of investment portfolios the world over, into a negative-yielding investment for many foreign buyers.”

      https://www.ft.com/content/431c89ec-611a-11e9-a27a-fdd51850994c

  5. On April 19, 2019 at 1:12 am,
    Excelsior says:

    Gab – @TraderGab

    “Gold Bullish pennant and 1272 still holding …” [see the chart linked below]

    “Maybe the Fat Lady is warming up and clearing her throat … Happy Easter!”

    https://twitter.com/TraderGab/status/1118984592017514497

  6. On April 19, 2019 at 1:35 am,
    Excelsior says:

    Sell In April And Go Away

    by @Goldfinger on 17 Apr 2019

    “The old market adage “sell in May and go away” has a special meaning in the junior resource sector; resource investors have a habit of selling in the spring and going away for the summer before returning towards the end of August. This seasonal tendency is clearly exhibited by the following statistics on the Junior Gold Miners exchange-traded fund, the GDXJ:”

    “It’s not difficult to see that May is the worst month of the year for the GDXJ, while August is typically a great month for junior gold miners. This pattern doesn’t play out every year, however, there is a very strong tendency for precious metals and mining shares to put in a major low at some point during the summer (usually June or July) before rallying into the fall (during the end of August and September).”

    “This means that May and June tend to be soft months for the resource sector. This seasonal tendency also makes sense because junior resource companies are typically launching summer exploration programs in May/June and there is less news flow across the sector until at least the end of July. As drill results start to pour in during August and September these junior exploration stocks have a tendency to rise. ”

    https://ceo.ca/@goldfinger/sell-in-april-and-go-away

    • On April 19, 2019 at 2:14 am,
      Excelsior says:

      (KNT) (KNTNF) K92 Mining Announces Year-End Financial Results

      by @nasdaq on 18 Apr 2019

      “For the year ended December 31, 2018, K92 produced 45,810 gold oz, or 47,237 gold equivalent (AuEq) oz, at a cost of $594/gold oz or $601/AuEq oz and an all-in sustaining cost (AISC) of $795/gold oz or $796/AuEq oz”

      “For the quarter ended December 31, 2018, K92 produced 16,451 gold oz, or 16,844 AuEq oz, at a cost of $572/gold oz or $579/AuEq oz and an AISC of $718/gold oz or $722/AuEq oz”

      “Revenue less Cost of Sales for the year ended December 31, 2018 was US$23,401,518”

      https://ceo.ca/@nasdaq/k92-mining-announces-year-end-financial-results

  7. On April 19, 2019 at 1:43 am,
    Excelsior says:

    David Miller – A Recovery for Uranium is Now Unfolding

    by @PalisadeRadio on 19 Apr 2019

    https://ceo.ca/@palisaderadio/david-miller-a-recovery-for-uranium-is-now-unfolding

  8. On April 19, 2019 at 1:53 am,
    Excelsior says:

    Orocobre Limited Quarterly Report of Operations for the Period Ended 31 March 2019

    by @nasdaq on 16 Apr 2019

    OLAROZ LITHIUM FACILITY:

    – “Q3 FY19 production was 3,075 tonnes, the best March quarter achieved to date at Olaroz. Production was up 10% on the prior corresponding period (PCP) following pond preparation and a strategy of managing brine quality. Production for the year to date is 9,150 tonnes and Orocobre expects full year production to be approximately the same as FY18 which was 12,470 tonnes”

    – “Quarterly sales revenue was US$33.4 million, up 4% QoQ with a realised average price achieved of US$9,451/tonne on a free on board basis ”

    https://ceo.ca/@nasdaq/orocobre-limited-quarterly-report-of-operations-for-3c568

  9. On April 19, 2019 at 11:20 am,
    OOTB Jerry says:
  10. On April 19, 2019 at 1:20 pm,
    cfs says:
  11. On April 19, 2019 at 3:00 pm,
    Markedtofuture says:

    49:30 Seth Rich truth comes out through Assange

    https://www.youtube.com/watch?time_continue=2&v=23PboA9MI6s

  12. On April 19, 2019 at 7:43 pm,
    CFS says:

    Since Rosenstein signed the FISA warrant to spy on Trump as soon as Trump declared his candidacy (such Surveillance appearing to be approved as high up as HRC or Obama himself) the question now is will Rosenstein squeal in return for leniency, or will he face justice as swearing under oath that he verified the Steele Dosier used for the FISA warrant application. (We all know now the Steele dossier was nothing but a Russian fabricated bunch of lies; this creation being funded by Clinton money, probably misappropriated from the Foundation).
    I suspect we will soon know, the first of many indictments and trials to really begin draining the swamp.
    Will Mueller follow Rosenstein?
    After all Mueller MUST have known there was no Trump-Russian collusion from the get-go. Is Mueller hoping Democrats try to impeach Trump fast, so he (Mueller) is saved from prosecution?
    After all Mueller try to lay out as clearly as possible steps to impeachment via obstruction of justice. Of course the House is so polarized, that might work….although how one can “obstruct” justice in investigation into a no-crime is beyond me.

  13. On April 19, 2019 at 8:02 pm,
    CFS says:

    Now some verified Russian collusion:
    https://www.youtube.com/watch?v=XoXsxccZi3M&list=RDWnrsWPmVzfk&index=9
    Is that the Owl up front?