David Erfle - Gold Market Commentary – Wed 24 Apr, 2019

Portfolio Management Suggestions For Metals Investors

David Erfle, Editor of The Junior Mining Junky looks at the moves today in metals stocks. While looking ahead to some of the data and levels that could drive these stocks we discuss how David is managing his portfolio heading into summer.

Click here to visit David’s site and sign up for his free emails each week.

View related posts on: , ,

Comments:
  1. On April 24, 2019 at 8:14 pm,
    David says:

    How can anyone talk miner earnings or expected earnings when miners, supply or demand have nothing to do with price of physical PMs. It is all a paper market and fabricated charts done in unrelated paper markets. I just don’t get it giving fantasy markets credibility. What does an algo have to do with reality.

    • On April 25, 2019 at 4:48 am,
      OOTB Jerry says:

      Kind of what I was saying with the FED…..the markets are a joke….and have been since 2000…….The CME giving the volume discount to central banks., acccording to Gata.

      • On April 25, 2019 at 7:29 am,
        OOTB Jerry says:

        The signs are everywhere, for those looking……who needs a guru….

          • On April 25, 2019 at 7:47 am,
            OOTB Jerry says:

            They needed to sell it before, Pence and Bolton steal it…….. 🙂

          • On April 25, 2019 at 7:54 am,
            OOTB Jerry says:

            Venezuela managed to sell as much as $400 million, or nearly 9 tons, in gold with sanctions in force, somehow skirting international sanctions. The sale not only means President Maduro has found a way to sidestep the economic blockage, but it also may have contributed to the drop in gold price this week, according to some analysts

          • On April 25, 2019 at 7:56 am,
            OOTB Jerry says:

            Must be the Cabal……… 🙂

          • On April 25, 2019 at 9:07 am,
            b says:

            9 tons contributed to the drop in gold price?

            How would Doc have known that Venezuela selling 9t would drop the price moving into the doldrums? He did predict a lower price.

            You see that Russia bought 274t, Turkey 51t, Kazakhstan 50t, India 40t,Poland 26t Mongolia 22t and Iraq 7t. in 2018

            Ya gotta luv some analysts.

            Also, check those #s, for 2018 and thats not all the countries that bought, just pointing out there is no shortage, some people here used to say “sure you can get a few hundred onces at your local dealer but big amounts are hard to find” really?
            I call BS.

            There is no shortage,never has been and not likely to ever be.

            Price goes up on psychology (heard think) and maybe it will if the east decides to guarantee their currencies in gold.

          • On April 25, 2019 at 9:24 am,
            Matthew says:

            The only problem is, he’s been calling for lower gold since it hit $1,230 last October.

          • On April 25, 2019 at 9:52 am,
            OOTB Jerry says:

            Compared to all the printed money…….there is a Big Shortage…… 🙂
            Like I said who needs a guru………. 🙂
            Just looked at some gold 20 Libs , that I bought in
            01 …for $389….now going for $1450…graded….LOL

          • On April 25, 2019 at 9:57 am,
            OOTB Jerry says:

            BTW…..those were common dates…and not rare……lol

          • On April 25, 2019 at 10:13 am,
            b says:

            Alot of things have gone up that much Jerry, the currency loses 50% of its purchasing power every 35 years.

            Im not disparaging PMs, I just dont agree with attempting to make them out to be something they are not.

            When/if tshtf, will a coffe shop take gold over dollars?
            Not according to the Dice vids.
            Martin Armstrong has made that point a few times.

            The prepper way of seeing things might be the better way to see things if tshtf too.
            Check the value of gold in costa rica when that place went kaput, it wasnt worth much altho you could get something for it.
            Not as much as a can of beans , water or gas etc.

            Supply has always met demand no matter the price, and look at the size of the new discoveries, they are huge so I just dont believe in the shortage theory.

            I own gold/silver so obviously I feel it might be wise to hold some, the jr PMs is a wonderful way to gamble.
            Big payoffs when the trend of the herd is up.

            I just dont think it should be made out to be more than it is.
            Bob is right tho, people luv to hear what they want to hear.

            Might be better for the gold community to be upright.
            I dont believe there is any need to deceive.

            As a matter of fact complete honesty would increase peoples interest, look at the size of Vegas, people love to gamble.

          • On April 25, 2019 at 10:41 am,
            OOTB Jerry says:

            b……I guarantee, those who know what gold is , will give you fiat, and then you can go buy the coffee……LOL
            Gold is not going anywhere, but,up…..as long as there is fiat.
            And just why are the central banks buying it back……..?
            I bet, we had this same conversation when
            Tweety was around , slamming the table at $960…..just saying….. 🙂

          • On April 25, 2019 at 10:50 am,
            OOTB Jerry says:

            Got any rare gold coins…..? that you bought for spot a few decades ago…….?
            If, not, good time to buy some..according to the info I am reading …jmo

          • On April 25, 2019 at 10:56 am,
            OOTB Jerry says:

            The morons that Dice was talking to, …you could trade them some used sneakers for a cup of coffee….LOL

          • On April 25, 2019 at 11:30 am,
            OOTB Jerry says:

            b…..I agree with you concerning the “might be better on being upright”,
            but, that is not going to happen….Liars are everywhere.

        • On April 25, 2019 at 11:52 am,
          b says:

          Trade gold for fiat?
          You can trade just about anything for fiat, gold isnt anything special in that regard.

          Dice talking to morons?
          Absolutely, whats the iq of the average person? They believe anything the msm tells them to believe.
          Thats nutin out of the ordinary.
          and thats what the average person thinks, gold has no value other than jewelry.
          In N america anyway.

          Give away pot or gold on a street corner, lol, how many take gold? recall they prefer chocolate.

          You want to sell gold you need to find someone that wants it, if you sell pot people find you, there is a huge dif.

          Bird at one time did feel gold would go bellow$1000 again, it was Dent calling for lower #s.
          And that could still happen as Armstrong states, everything will get sold off during the next market crash, including gold, expected to be the biggest in history, after wards it may very well move up.

          Again Jerry, Im not disparaging PMs, I just dont think its anything other than what it has been historically, a way to preserve purchasing power.
          But its far from the only way.

          • On April 25, 2019 at 12:03 pm,
            OOTB Jerry says:

            Be, you would only trade gold for fiat, if , you were desperate ……
            ………..
            Still a store of wealth regardless…….
            https://thefederalist.com/2019/04/25/united-states-needs-start-encouraging-americans-hold-gold/
            Foreign central banks are acquiring gold at the fastest pace in 50 years, and their purchases are not driven by investment considerations alone. The Central Bank of Russia, 2018’s largest official sector buyer of gold, wants to reduce Russia’s dependence on the dollar, while the Hungarian National Bank noted gold’s increasing strategic importance as underlying their recent purchases.

            America cannot stop foreign central banks from buying gold or reintroducing gold into the international monetary order. We can, however, adopt policies that will attract more of the world’s gold to the United States and position ourselves to deal with the remonetization of gold from a position of strength.

          • On April 25, 2019 at 12:11 pm,
            OOTB Jerry says:

            b…….I think we are talking about the same thing……PRESERVING PURCHASING POWER
            Gold is a Long term hold……..being saying that for years.

          • On April 25, 2019 at 12:21 pm,
            OOTB Jerry says:

            BTW…..NEVER SAID…….”But its far from the” only way”.(referring to gold)
            Nor, Have I ever implied it was the only way…..just for the record….. 🙂

          • On April 25, 2019 at 1:39 pm,
            b says:

            I did say “… maybe it will if the east decides to guarantee their currencies in gold.”

            I think Rickards could be right in that once a year the nations settle their accounts with one another in gold as opposed to backing their currency in gold.

            Who knows? But it would seem they are thinking along the same lines.
            As I said, I have PMs, enuff, I believe.

            I just dont think the promotion of the PM industry requires the BS, in fact I believe it harms the industry as people tend to not trust BS.

            If the industry was honust people would understand and more likely to trust it and there would be more demand imo.

            Recall I began my rant due to a 9 ton sale driving the price down.

          • On April 25, 2019 at 1:52 pm,
            OOTB Jerry says:

            I agree on the no needs for the extra.. bs.. from the dealers or promoters…
            After a few years…..you can almost see the bs masters……

          • On April 25, 2019 at 1:54 pm,
            OOTB Jerry says:

            the real bs…..is from the FED and CME……

  2. On April 24, 2019 at 8:35 pm,
    cfs says:

    off topic

    the first minute of this is worth listening to:

    https://youtu.be/4_yMcVq6-ak?t=679

  3. On April 24, 2019 at 9:01 pm,
    cfs says:

    The Obama Use of FISA-702 as a Domestic Political Surveillance Program….

    Now that we have significant research files on the 2015 and 2016 political surveillance program; which includes the trail evident within the Weissmann/Mueller report; in combination with the Obama-era DOJ “secret research project” (their words, not mine); we are able to overlay the entire objective and gain a full understanding of how political surveillance was conducted over a period of approximately four to six years.

    Working with a timeline, but also referencing origination material in 2015/2016 – CTH hopes to show how the program operated. This explains an evolution from The IRS Files in 2010 to the FISA Files in 2016.

    The FISA-702 database extraction process, and utilization of the protections within the smaller intelligence community, was the primary process. We start by reviewing the established record from the 99-page FISC opinion rendered by Presiding Judge Rosemary Collyer on April 26th, 2017; and explain the details within the FISC opinion.

    I would strongly urge everyone to read the FISC report (full pdf below) because Judge Collyer outlines how the DOJ, which includes the FBI, had an “institutional lack of candor” in responses to the FISA court. In essence, they were continually lying to the court about their activity, and the rate of fourth amendment violations for illegal searches and seizures of U.S. persons’ private information for multiple years.

    Unfortunately, due to intelligence terminology Judge Collyer’s brief and ruling is not an easy read for anyone unfamiliar with the FISA processes outlined. The complexity also helps the media avoid discussing, and as a result most Americans have no idea the scale and scope of the issues. So we’ll try to break down the language.

    For the sake of brevity and common understanding CTH will highlight the most pertinent segments showing just how systemic and troublesome the unlawful electronic surveillance was.

    Early in 2016 NSA Director Admiral Mike Rogers was alerted of a significant uptick in FISA-702(17) “About” queries using the FBI/NSA database that holds all metadata records on every form of electronic communication.

    The NSA compliance officer alerted Admiral Mike Rogers who then initiated a full compliance audit on/around March 9th, 2016, for the period of November 1st, 2015, through May 1st, 2016.

    While the audit was ongoing, due to the severity of the results that were identified, Admiral Mike Rogers stopped anyone from using the 702(17) “about query” option, and went to the extraordinary step of blocking all FBI contractor access to the database on April 18, 2016 (keep these dates in mind).

    Here are some significant segments:

    The key takeaway from these first paragraphs is how the search query results were exported from the NSA database to users who were not authorized to see the material. The FBI contractors were conducting searches and then removing, or ‘exporting’, the results. Later on, the FBI said all of the exported material was deleted…..

    And it continues with so much more including who was the Secretary of Defense when this all started back in 2012 when the FBI decided to provide outside contractors with raw FISA Information from the NSA database. Adm Mike Rogers would put an end to that in 2016.

    Sauce: https://theconservativetreehouse.com/2019/04/23/the-obama-use-of-fisa-702-as-a-domestic-political-surveillance-program/

  4. On April 25, 2019 at 4:53 am,
    OOTB Jerry says:

    WARNING>>>>>>Read this before you eat………
    https://www.zerohedge.com/news/2019-04-25/joe-biden-launches-campaign-president
    “Our Very Democracy Is At Stake” – Joe Biden Launches Campaign For Presi
    Just the title is enough……………….Uncle , give it up Joe.

  5. On April 25, 2019 at 5:11 am,
    Chartster says:

    Beady-eyed Joe is running for president as part of his legal defense. LOL
    Everyone in the O administration is cooked. Everyone(joe included)

    • On April 25, 2019 at 5:22 am,
      OOTB Jerry says:

      Ditto………Joe needs to raise some funds for his son legal defense , ……..running for office, Old Joe gets to keep what is left over after the campaign……..what a scam.

  6. On April 25, 2019 at 5:43 am,
    Dick Tracy says:

    The Three Stooges, Biden, Bernie, and Barack! DT

    • On April 25, 2019 at 6:09 am,
      OOTB Jerry says:

      What a group………..all we need is Bezo, and Buffet……and we have a band of mad men.

  7. On April 25, 2019 at 5:53 am,
    Chartster says:

    I’m not sure I’ve ever seen a perfect storm for a market crash, regarding geo politics and markets.
    Trump is about to go pull the gloves off and throw a flurry of blows to the deep state that will rock the minds of the hollowed-out masses. And over in Europe Brexit and euro exits looms large.
    The volume is lowest in many moons on SPY and others. The VIXY chart just triple bottomed. Corporate and junk paper looks sick. The buybacks are done.
    The pound and the euro look like they are about to enter free fall mode. The dollar is in blowoff top mode.

    Gold technically looks real bad, but how could it fall in these conditions? Hmm

    Crazy times.

    • On April 25, 2019 at 6:04 am,
      OOTB Jerry says:

      ………Crazy Times indeed………

    • On April 25, 2019 at 9:14 am,
      b says:

      I wont believe Trump puts anyone in jail until I see it.

      But it occurred to me, Trump is a Zionist working for Israel, they could sacrifice a few people.

  8. On April 25, 2019 at 6:13 am,
    OOTB Jerry says:

    Talk about crazy time……..when is the last time you heard…….Rothschild needing to liquidate ……..
    https://www.zerohedge.com/news/2019-04-24/rothschilds-liquidating-royal-heirlooms-massive-auction

  9. On April 25, 2019 at 6:21 am,
    OOTB Jerry says:
    • On April 25, 2019 at 6:23 am,
      OOTB Jerry says:

      Just the weather , I bet…………lol……… 🙂

    • On April 25, 2019 at 6:24 am,
      OOTB Jerry says:

      We are going to need more QE…………quality education……. 🙂

    • On April 25, 2019 at 6:26 am,
      OOTB Jerry says:

      Where is that Betsy DeVoss……when you need her……I bet she is out fund raising with BlackRock, shooting down some higher learners…….. 🙂

  10. On April 25, 2019 at 6:44 am,
    larry says:

    /ES…i really am not sure if there actually is a reason…but we look to have capped this rally and down now into the intermediate low

  11. On April 25, 2019 at 10:02 am,
    cfs says:

    Rember Gary Savage on this forum?

    https://youtu.be/JmGCge8UYtE

    • On April 25, 2019 at 11:11 am,
      Matthew says:

      It’s amusing that he implies that GDX would only rise a few dollars if the banks were to take a $30B position (and that’s if they don’t knock it down first!).
      $30B is far more than that ETF’s total assets.


Fatal error: Call to undefined function http_response_code() in /home/kerepo5/public_html/wp-content/plugins/wp-cerber/cerber-load.php on line 5175