Ned Schmidt - Insights on the Gold Market – Thu 9 May, 2019

Looking At New Tariffs, Central Bank Policy, and Overvalued Stocks All Have Ned Bullish PMs

Ned Schimdt joins me today to share why he is bullish gold. He points to worries around the world and in the trade talks between the US and China as possible major drivers to the underlying gold price. Ned think we could be in for another 1930s scenario where gold is the real winner.

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Comments:
  1. On May 9, 2019 at 2:03 pm,
    Silverdollar says:

    Almost exactly one year ago (May 11, 2018) Ned said in his interview with Cory: “By this time next year the prices of gold and silver will shock all of us.” He’s a smart analyst and I enjoy listening to his reasonings but one can’t bet on what he says…………Not meant in a derogatory way. One can’t bet on any guru, including Bob Moriarty who wrote a book on experts. Some of what he saiys may happen but he and I may not live long enough to see it. JMO

    • On May 9, 2019 at 2:39 pm,
      spanky says:

      He may have meant shock us in a bad way, lol.

      Silver and silver miners are basically teetering on the edge of collapse. This is very reminiscent of 2013 TBH. Saying that, I did dip a toe on HL because it is hitting a 10 year trendline this week. No other reason. It has to be one of the most surreal, miserable charts I have ever seen. Enron had more short covering rallies.

      • On May 14, 2019 at 1:11 am,
        JMiller says:

        Very true.

    • On May 9, 2019 at 2:42 pm,
      spanky says:

      And FWIW, gold has still not fallen out of bed. It’s silver and silver miners that have provided nothing but pure pain for 3 years. Something has got to give.

      • On May 14, 2019 at 1:10 am,
        JMiller says:

        Don’t I know it.

    • On May 9, 2019 at 3:21 pm,
      OOTB Jerry says:

      DITTO or almost Ditto…. Silverdollar…………NO ONE can count on any guru……

      • On May 14, 2019 at 1:12 am,
        JMiller says:

        Very true.

  2. On May 10, 2019 at 4:55 am,
    Dick Tracy says:

    The US tariffs are the shot that can be heard around the World. What do “The Wizards” think, are things going to get better or worse. This is where you can forget about reading graphs. If I was living in Taiwan or Israel I would definitely want an exit visa. DT

  3. On May 10, 2019 at 6:22 am,
    cfs says:

    OFF TOPIC:

    Dave Janda talks about Operation hammer:

    https://www.youtube.com/watch?v=me_iR0wnjnE

  4. On May 10, 2019 at 6:24 am,
    cfs says:

    Do you think the Democrat leadership might be worried about how much Trump knows, thanks to the NSA?

    https://www.wyden.senate.gov/imo/media/doc/050619%20Senate%20Intel%20Dems%20Letter%20to%20NSA%20Director%20Nakasone%20RE%20CDR1.pdf

  5. On May 10, 2019 at 6:29 am,
    cfs says:

    Do you think Sleazy Joe Biden cares about bankrupting the U.S.?

    https://www.youtube.com/watch?v=_2bnhwUaJZk

  6. On May 10, 2019 at 7:11 am,
    cfs says:

    Chris Powell, Gata Interview:

    https://youtu.be/oo6lGTURgSA

  7. On May 10, 2019 at 7:46 am,
    cfs says:
  8. On May 10, 2019 at 8:20 am,
    spanky says:

    The $HUI cleared out its Dec 4 black candle. I keep reminding myself that the HUI hasn’t left behind a black candle on the daily chart the entire run off of the 2016 low. I thought that maybe this time is different, but nope!

  9. On May 10, 2019 at 8:53 am,
    spanky says:

    The divergence between $HUI and $gold over the last month has been dramatic, ugly, and extremely discouraging. Nothing more to be said.

  10. On May 10, 2019 at 8:58 am,
    spanky says:

    GDX’s performance relative to everything the last couple of days has been ugly.

    GDX:$indu, we have a black candles today and yesterday. It almost 100% means GDX is headed lower vs the Dow in the next few days or weeks.

  11. On May 10, 2019 at 9:06 am,
    spanky says:

    GLD:SLV ratio has broken out of a cup and handle continuation pattern that projects up to 9.2 from today’s 8.77. That constitutes a pretty big move, even from here. More pain ahead for silver bulls.

  12. On May 10, 2019 at 9:19 am,
    spanky says:

    Yen ($XJY) is at nosebleed levels on the 5 day RSI (currently 94). I can’t imagine that being good for gold or miners. My call for gold to hold onto the swing low of 1267 is looking more and more unlikely TBH.

  13. On May 10, 2019 at 9:25 am,
    spanky says:

    DBA putting in another red day. The 5 day RSI is matching a drop that occured only one other time in the last 3 years. That one lead to a V-shaped bounce.

    You would have to go back pre-2016, in the depths of the commodity plunge where you got similar RSI readings. Those instances resulted in extremely weak consolidations and then subsequent lower lows.

    If DBA doesn’t V-bounce, I think you can put a fork in the entire commodity complex for months.

  14. On May 10, 2019 at 9:56 am,
    OOTB Jerry says:

    Silver demand……….for solar…………
    Silver demand for use in solar panels has risen 6 consecutive years, and is expected to be higher again this year. It was zero 12 years ago.
    https://goldsilver.com/blog/silver-in-charts-supplydemand-crunch-after-years-of-the-opposite/

  15. On May 10, 2019 at 9:58 am,
    OOTB Jerry says:
    • On May 10, 2019 at 9:59 am,
      OOTB Jerry says:

      Land of the free thinkers…………

      • On May 10, 2019 at 10:01 am,
        OOTB Jerry says:

        In 2012, transvestitism and transgenderism were also eliminated from the DSM-5 (fifth edition), gender identity disorder was replaced and further redefined, and softened the transvestitism and transgenderism disorders into gender dysphoria. The change in terminology removed all implication and designation that transvestitism and transgenderism were mental illnesses. Dysphoria is defined as the distress a person experiences as a result of the sex and gender they were assigned at birth.

      • On May 10, 2019 at 10:03 am,
        OOTB Jerry says:

        DOD started hiring people with sexual identity and personality disorders, and mental illnesses and the Service’s suicide rates started to rise dramatically. When you no longer disqualify people with sexual and personality disorders and mental illnesses, the category of people with a built-in stratospherically-high suicide rate, is anyone really surprised the Services’ suicide rates are off the chart?

  16. On May 10, 2019 at 10:14 am,
    spanky says:

    NYMEX closes in like 20 minutes. Gold never does anything once NYMEX closes except MAYBE test the high of the day’s range. More often than not it just goes sideways or down.

    Miners will either close where they are at NYMEX close or lower. Guaranteed.

    It seems like it has been years since we’ve had a day where gold ramps from beginning of the day until the close of the NYSE.

  17. On May 10, 2019 at 10:32 am,
    cfs says: