Hour 1 – Silver playing catch up and the Fed still tinkering with the market
On this weekend show I focus on the volatility in the precious metals and Bitcoin as the US markets stayed tied to central bank comments.
- Segment 1 – I kick off the the show with Trader Vic Sperandeo. We discuss how the Fed has been back themselves into cutting rates all thanks to some disconnected inflation expectations.
- Segment 2 – Ryan Wilday shares his thoughts on the cryptocurrency markets. Bitcoin just this week experienced $1,000 moves per day all on the back of political news.
- Segment 3 – With silver playing catch up this week Doc and I outline how the gold, silver, and GDX charts are all lining up in the favor of gold bugs.
- Segment 4 – Marc Chandler, Managing Partner at Bannockburn Global ForEx looks ahead to next week and the news events that will move markets.
Hi Cory
A few months ago Trader Vic aroused my interest when he pointed out that there is a holy alliance between the Fed, the banks and the Treasury. The banks can borrow money from the Fed, use the money to buy long dated treasuries yielding higher interest rates, and pocket the difference. They do not have to put up their own money and do not have to mark to market if they hold until maturity. Trader Vic said he would buy a trillion dollars worth of treasuries under these conditions if he could. I asked Trader Vic in an email how much of this ‘trade made in heaven’ is being used and what kind of interest differential we are talking about, but haven’t heard from him. I also sent emails to economists like Brent Johnson asking them if they know anything about this arrangement but they are too busy preparing keynote speeches and posing for photo shoots to be bother with pesky questions concerning finance.
Hi Bob, The Fed has an open window for The Banks, like you see at McDonalds. The lesson is plain, the public is not allowed to use the drive through window but The Banks and The Government are, no need for them to pay the going rate. The Fed logic is keep the party going because if you don’t you will see a crimp in the money supply followed by a Crash that will bring down the system. DT
The Federal Reserve knows when a panic is brewing and anything they have decided is better than a panic. The only policy that The Federal Reserve has now is to come to the rescue. How do they do that? They give money to The New York Banks first and then to all the other financial institutions, as well as The Government. DT
This image is outdated now with Bernanke and the national debt number (as it is far worse now), but the parlor tricks up the FED’s sleeves are the same:
https://www.activistpost.com/wp-content/uploads/2014/02/dees-sotf-bernanke.jpg
The speculative memory is short, the ancient principle of physics still holds true, the higher they go, the harder they fall. We are now in the bright blue sky, and cloudless empyrean.
Thanks as always gentleman…..not a regular right now but do pop in especially for the weekend show……not sure I say this yet here on Americas Silver
Hey Wolfster – good to see you here even if its just on weekend shows.
We discussed the Americas silver deal on Thursday where Eric Sprott took on more of a position, but the part that many missed is that they don’t have to give up San Felipe now. I have a position in Santacruz Silver, who sold their option with Hochschild on that property to Americas silver 2 years back, and I couldn’t understand why USAS bought it in the first place if they were just going to unload it to Premier Gold mines on the cheap. Glad they retained it to do some more exploration on it move it into the development pipeline down the road.
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$USAS $USA Americas Silver Corporation Announces US$10 Million Investment by Eric #Sprott
July 19, 2019
“We are very excited to have Eric Sprott materially increase his ownership to above 8% and continue to support the Company as a major shareholder,” said Darren Blasutti, President & CEO of Americas Silver.
“We are also pleased to have retained the significant upside in the San Felipe #silver #zinc project for our shareholders.”
Darren Blasutti of (USAS) (USA) Americas Silver at the recent 121 Mining Investment Conference in London
(USAS) (USA) Americas Silver – Corporate Presentation Slide Deck – July 2019
Creation of a Precious Metals Growth Company
https://www.americassilvercorp.com/site/assets/files/5249/presentation20190718.pdf
I had posted this on Thursday as well regarding how well the Silver Producers have done for folks that got positioned during tax loss selling, as the calendar flipped from 2018 to 2019.
Buying during tax loss selling has been rewarded handsomely the last 5 years in a row as the metals and miners have spiked each time for the Q1 Run. However, even if people didn’t trade the companies in Q1 and just bought at year-end and held, they’ve been rewarded handsomely.
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> #Chart of Silver Producers Year-To-Date (as of Thursday’s close) in 2019:
$EXN.TO – up 98.55%
$USAS – up 72.73%
$AG – up 68.42%
$SCZ.V – up 66.67%
$SVM – up 46.54%
$HOC.L – up 32.68%
$IPT.V – up 20.97%
$ASM – up 16.39%
$CDE – up 12.98%
$EXK – up 11.16%
$PAAS – up 6.79%
$FSM – up 3.30%
http://cdn.ceo.ca/1ej29vd-Silver%20Producers%20YTD%202019.JPG
What has been nice about 2019, as there was a second opportunity to buy miners on the dip in May and ride up this recent rally. There has been a lot of life in the Silver miners, despite the metal not having done much until this last week.
What is interesting is how many dozens and dozens of interviews we listened to where people said, “Silver has been dead in the water and we’re waiting for it to confirm the move” or “We like Gold because of Silvers industrial component holding it back”. As a result, investors listening to them likely passes on investing in Silver stocks the last few month…. to their loss….
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Here is a #Chart of the same group of Silver Producers returns for the last 3 months:
(as of Thursday’s close)
$EXN.TO – up 98.55%
$SCZ.V – up 81.82%
$USA – up 69.64%
$FR.TO – up 59.31%
$CDE – up 37.23%
$SVM – up 34.38%
$ASM – up 30.42%
$IPT.V – up 29.31%
$FSM – up 23.28%
$PAAS – up 22.83%
$HOC.L – up 14.20%
$EXK – up 8..64%
http://cdn.ceo.ca/1ej2aeg-Silver%20Producers%20Last%203%20Months.JPG
Since the bottoming in the PM sector in May, money has even been coming further downstream into some of the Development stories. Again, for those that wouldn’t touch Silver stocks with a 10-foot pole, they missed another great rally (once again).
Here a list of some of the Silver Developers over the last 3 months base on Thursday’s close:
BCM – up 73.08%
AXR – up 57.25%
SIL.V – up 37.64%
DEF – up 37.05%
ABRA – up 33.33%
MSV – up 25.93%
MAG – up 23.72%
SBR – up 22.22%
KTN – up 21.74%
SVB – up 21.74%
SSV – up 14.29%
AUN – down -42.50%
http://cdn.ceo.ca/1ej2kh7-Silver%20Developers%20Last%203%20Months.JPG
I was asked by someone recently in a private message what my best 3 picks are for Silver stocks, and that is such a difficult question to ever answer because it is impossible to quantify “Best” for all potential desires, risk tolerances, trading approaches, and investing timelines.
Best means different things to different people, and comes down to the criteria that matter (does mean best safety w/ growth? Best risk/ return speculation odds? Best cashflow, best production numbers, best jurisdiction preferences, etc…) I wrote this investor back with a few ideas of just how hard it is to pick just 3 stocks in the Silver sector, especially across a spectrum of Producers, Developers, Explorers, and Prospect Generators….
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I wrote him back the following:
> Best performers so far – (EXN) Excellon (SCZ) Santacruz have had the most upside ~torque lately as marginal producers that benefit the most from increase in metals pricing, but that may or may not continue) (BCM) Bear Creek Mining had a nice initial move out of the May low, as an optionality play on a large Silver development project.
— Typically (IPT) Impact Silver has the best upside torque, but it hasn’t moved as much in the last few months.
> Best odds of increasing #production – (USA) Americas Silver has gold production coming online in 6 months from Relief Canyon to assist it’s overall PM metrics, alongside Silver/Lead/Zinc; (ASM) Avino Silver and Gold has 4th circuit finally completed and will be adding throughput, and is getting closer to bringing on Bralorne in BC; (EXK) Endeavour Silver has a 5th mine, Terronera, about to come online in the next year that will radically augment their production profile.
> Best cost profile (SVM) Silvercorp has had this honor for years, and is still the lowest cost producer with base metals credits, (USAS) Americas Silver second best cost profile due to their base metals credits and it will look even better once their Gold production starts, and lastly (MAG) Mag Silver will have 3rd best costs if it ever gets into production
> Best #development plays – (AXU) (AXR) Alexco is my favorite high-grade near term producer; (BHS) Bayhorse is expanding from development and trial mining into commercial production this year and very under-rated and under-followed; (SVB) Silverbear is coming online into commercial production in Russian this year.
Some would point out how (BCM) Bear Creek has led the developers higher and has a wider following as a very large, lower grade optionality play on higher metals prices. Also, (SBB) Sabina Gold & Silver is a very solid development-stage story, but I consider it mostly a Gold story so I don’t normally include it with the Silver stocks, but do own it, and feel it is a very likely takeover candidate for this bull run.
> Best #Exploration potential (very difficult to pick as is the nature of discovery) – M (MMG) Metallia Minerals [Alexco’s neighbors] has the best odds of finding new high-grade discoveries at the well-endowed Keno Hill; (IPT) Impact Silver – has good Silver and Gold prospects and has regularly brough great exploration results to the market year after year; (SIL) Silvercrest is leader in the pack for exploration with a number of truly bonanza grade drill results, but also has already moved very high in valuation as a result. It is the most likely silver explorer to get taken out).
Other mentions are (DEF) Defiance with very promising exploration potential and a mineral rich orebody with lots of prior work done. I hold a position in (DV) Dolly Varden because I feel they’ll still keep hitting big on exploration and continue developing towards production. They are working around a prior-producing mine of signifcance but have shown there is far more left in the ground.
> Best “safer” larger companies (AG) (FR) First Majestic (CDE) Coeur (FSM) Fortuna
> Best Optionality plays – (KTN) Kootenay, (ABRA) Abraplata, (SCZ) Santacruz
There are so many interesting companies left in the silver space and each has it’s own strengths, weaknesses, opportunities, and threats.
Good luck to all in their investing whichever companies they choose.
Thanks Ex….yeah I skim through the weekday stuff so easily miss things. You guys are usually on the ball with everything so not much to add really…been lots of news between all the plays that get discussed a lot here….Unfortunately I’m still in a few pots but at least have a good bio play and some mine plays. I’m astounded at how low the inventories have stayed in the stockpiles of base metals. Cheers.
Agreed. Lots of good information gets shared here at the KER day in and day out and many of the contributors here are first to report news, a breaking story, or technical perspectives. So many times the KER collectively is several days to several weeks ahead of the lame stream media, or identifying trends before they become more obvious to the masses.
Yes, much of the hot air and froth has come out of the cannabis sector but the quality pot stocks have fared better than the johnny come lately stocks…. This happens in each sector (Rare Earths, Graphite, Lithium, Cobalt, Cryptos, and now the Pots).
It is actually healthy for any sector to cull the herd post bubble pop, and sort out exactly which companies are legitimate and real players in the sector. Typically it is a dozen or so names that move forward after that in each sector during a corrective phase, but then on the rally higher, more companies grab onto a trend, and then the next bubble gets blown. Rinse and Repeat. 🙂
Ever Upward!
Excelsior: Great stuff. Thanks.
Hi David. Glad to share ideas. Much appreciated.
Rinse and Repeat??? Get rinsed and repeat perhaps.😮
haha! yeah, maybe some of that too…. 😉
We see it all the time though. Now the Rare Earths are coming back alive again due to the trade tensions between the US and China and there are about a dozen companies worth owning, but if the sector gets hot, there will quickly be about 60-100 touting their deposits.
At the bottom of the Uranium pricing in late 2016, there were only about dozen or so solid companies, and a few dozen more speculative optionality plays that had been put on ice for better pricing. If we do ever get a solid reboud in Uranium prices up into the high $40s and $50s, then we’ll see 60-100 companies marketing in the space.
So yes, bubble with 100+ companies, bubble pop and the culling of the heard down to the dozen or so viable companies, then the next wave higher, and more companies get refinanced and put their names back in the hat, and before you know it another 60-100 companies are back for the next rally.
Rinse and repeat
reboud = rebound
culling of the herd (not heard).
History Is Repeating — This Time It’s Pot Stocks
July 18 2019 – Capitalist Exploits
“I have watched the publicly traded Canadian cannabis sector in stunned awe for the past few years. I really cannot think of a worse place to be invested. You have the basic economics of growing celery, with all the government regulation of an HMO, complete with the regulatory risk of manufacturing pharmaceuticals, with a two-tier system of legal and illegal producers—where legal prices are dramatically more expensive, with hundreds of entrants, funded with billions in equity capital who don’t care about near-term economics, all locked in a vicious price war, focused on gaining marketing share. If it sounds like an insane place to invest—that’s because it is—particularly as demand is stagnating. You’d have to be stoned out of your mind, to want to own any of these companies.”
“I’m willing to admit that early entrants made fortunes as they navigated Byzantine legal structures and capitalized on the initial gold rush phase. However, the boom is rapidly collapsing. Let’s face it, cannabis is a commodity product, it is priced based on supply and demand. With a lag, you can build endless production facilities and produce unlimited quantities of cannabis. It’s called “weed” for a reason. When this happens, what do you think happens to pricing? This is why, despite billions in subsidies, there aren’t many rich farmers. Agriculture is a terrible business.”
https://capitalistexploits.at/history-is-repeating-this-time-its-pot-stocks/
Catch some history on the Pilgrim Society……..suppression of silver and mining for gaining control…anybody wanting to know what is going on behind the scenes…of the manipulated markets of silver and gold…..from a historical standpoint.
And yes, it is relevant today, most will not take the time. but, for those that do not want to get hosed in the next bull market…….here is the link
http://silverstealers.net/
Since it is hard to navigate Steve’s site….
http://nosilvernationalization.org/189.pdf
-Barrick Gold, Newmont Gold, and
many other Canadian, American, Australian and British
based mining companies—have at this moment in their
upper executive structure and board of directors—
members of The Pilgrims Society
Interesting piece on the forgotten mining magnate Haggins, and how he thwarted the Rothschilds on his Anaconda copper/silver mine back in the day.
Thanks for the post OOTB!
You are welcome…….A little history, and current events to tie things together…..
Note…..do not forget….some of the members are on the boards of the mining companies presently……all with the same game plan in mind……
🙂
According to shortsqueeze.com, GSV has a short position that requires 18 trading days to cover
Here’s another good listen in addition to Cory’s picks. Can’t have too much info. Bill Fleckenstein always has his way of saying what needs said: https://kingworldnews.com/bill-fleckenstein-broadcast-interview-available-now-7-20-2019/
I like Fleckenstein, he always keeps his answers short and to the point
Interesting article from Ron Paul…..concerning Swift ….
http://www.ronpaulinstitute.org/archives/peace-and-prosperity/2019/july/11/the-worst-fact-check-ever/
McAdams is right. This essentially confirms what I said — No. The U.S. does not control SWIFT, but it can exert significant pressure on it.
So, despite what VoA and the Treasury Department claim, the U.S. government clearly pressures SWIFT to serve as a foreign policy tool. It may be technically accurate to say the U.S. government does not ‘control’ SWIFT. But the U.S. clearly applies political pressure on the institution and that pressure yields results. [
As Ron Paul once said, “Truth is treason in an empire of lies.” The fact that a propaganda arm of the U.S. government wants to whitewash the truth about America’s economic warfare is telling. Its inability to effectively do it is even more so.
This Ray Dalio piece made the rounds earlier this week, but for those that hadn’t seen it yet, it just adds to some of the pieces we’ve seen from Jeffery Gundlach, Paul Tudor Jones, and Mark Mobius.
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Ray Dalio Says Gold Will Be A Top Investment During Upcoming ‘Paradigm Shift’ For Global Markets
Jeff Cox – Wed, 17 July 2019
Hedge fund kingpin Ray Dalio is seeing a case for gold as central banks get more aggressive with policies that devalue currencies and are about to cause a “paradigm shift” in investing.
Dalio, founder of the world’s largest hedge fund, wrote in a LinkedIn post that investors have been pushed into stocks and other assets that have equity-like returns. As a result, too many people are holding these types of securities and likely to face diminishing returns.
“I think these are unlikely to be good real returning investments and that those that will most likely do best will be those that do well when the value of money is being depreciated and domestic and international conflicts are significant, such as gold,” the Bridgewater Associates leader said.
“Additionally, for reasons I will explain in the near future, most investors are underweighted in such assets, meaning that if they just wanted to have a better balanced portfolio to reduce risk, they would have more of this sort of asset. For this reason, I believe that it would be both risk-reducing and return-enhancing to consider adding gold to one’s portfolio. I will soon send out an explanation of why I believe that gold is an effective portfolio diversifier.”
For those that missed the Mark Mobius piece over the 4th of July holiday here it is again:
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#Gold Bull Mobius Says Every Portfolio Needs At Least 10%
Bloomberg News | July 4, 2019
“Veteran investor Mark Mobius says that gold’s set to push higher, potentially topping $1,500 an ounce, as interest rates head lower, central banks extend purchases, and uncertainty surrounding geopolitics and cryptocurrencies fans demand.
“I love gold,” Mobius, who set up Mobius Capital Partners LLP last year after three decades at Franklin Templeton Investments, said in an interview in Singapore, adding bullion should always form part of a portfolio, with a holding of at least 10%. “As these interest rates come down, where do you go?”
https://www.mining.com/web/gold-bull-mobius-says-every-portfolio-needs-at-least-10/
Could Gold Launch Into A Parabolic Upside Rally?
By Chris Vermeulen – Jul 12, 2019
“We believe gold is setting up for an incredible upside breakout move after reaching our predicted target near $1450. For those of you that have been following our research and gold calls, we’ve nailed this move and our October 2018 predictive modeling call has continued to mirror (almost exactly) the price movement in gold over the past 10+ months. See the chart below:”
https://www.investing.com/analysis/could-gold-launch-into-a-parabolic-upside-rally-200439419
$GCQ19 – August Gold (Last:1444.30)
Rick Ackerman – July 18, 2019
“By playing hard-to-get, gold is showing the most encouraging signs we have seen in a long, long while. This evening the August Comex futures have uncorked a 25-pointer, impaling a midpoint Hidden Pivot resistance at 1444.40 that is tied to a 1504.00 target first identified here weeks ago. That is my minimum upside objective at the moment and it should be yours as well if you trade this vehicle.”
https://www.rickackerman.com/2019/07/gcq19-august-gold-last1444-30/
In case anyone missed the Paul Tudor Jones interview I referenced above:
Gold Is Paul Tudor Jones’s Favorite Trade for Next 12-24 Months
Bloomberg Markets – June 12th, 2019
What I Learned In The Yukon
by @Goldfinger on 20 Jul 2019 #copper #gold #lead #silver
$ATC $AXR $AXU $BSR $BYN $FWZ $KTO $SMD $WGO $WRN
“The mineral wealth that exists in this far northern Canadian territory is literally breathtaking. There are large deposits of copper, zinc, gold, silver, etc. all over the place and the greatest challenge for geologists is to find a high enough concentration of these minerals in one location, in order to support an economic deposit and eventually an operating mine.”
“With that being said there are some areas of the Yukon that have enough infrastructure to support major mining projects. These areas include Whitehorse, anything near Dawson City, and the Mayo Mining District (which includes Alexco’s Keno Kill Project and Victoria Gold’s Eagle Gold Project as well as Banyan Gold’s AurMac Project). Everything outside of these three areas pretty much always comes with a sizable capex bill which can include road construction/upgrade, laying power lines, building mills etc.”
Yes, if you are in The Yukon you must have a huge deposit to make it viable, like Cantex Mine Development is proving up. Bluenose has a property there, and another junior with a low float that is just sitting waiting is Rackla Gold. DT
Rackla Metals Inc. not Rackla Gold!
Rakla is almost all owned by Simon Ridgeway, I think he is just waiting for the buyout. DT
The option is to have a very high-grade deposit & infrastructure advantages like at Keno Hill for Alexco (AXU) (AXR) or Metallic Minerals (MMG) (MMNGF).
Alexco is going to make their production decision in Q4 2019, and should be producing in the Q2 of 2020, from insanely high-grade deposits like Flame & Moth and Bermingham.
Metallic Minerals is their neighbor, and their drill campaigns have hit on similar grade for Silver/Zinc/Lead at Keno Hill so they should benefit in sympathy.
(AXU) (AXR)Alexco Resources
Corporate Presentation — Leverage to Silver — July 11, 2019
https://www.alexcoresource.com/site/assets/files/4272/2019-07-11-axr-cp.pdf
(MMG) (MMNGF)Metallic Minerals Corp – Corporate Presentation – July 2019
Developing The High-Grade Silver, Lead, and Zinc Keno Silver Project in Canada’s Yukon Territory
https://www.metallic-minerals.com/site/assets/files/1917/2019-07-09_mmg_presentation_live.pdf
Chris Berry – No Let Up for Lithium Demand Going Forward
by @PalisadeRadio on 19 Jul 2019
Chris has been an independent analyst since 2009 with a focus on Energy Metals including lithium, cobalt, graphite, vanadium, and rare earth. He is Founder and President at House Mountain Partners. His research provides strategic insights to institutional clients and has a specific focus on how disruptive trends in energy, strategic metals, and technology create opportunities.
https://ceo.ca/@palisaderadio/chris-berry-no-let-up-for-lithium-demand-going-forward
Toyota Strikes Deal With World’s Top Supplier Of Electric Car Batteries
July 18, 2019 – Bloomberg
“Global automakers are vying for access to vast amounts of batteries to power a growing number of electric vehicles amid capacity constraints and limited access to raw materials. For example, Volkswagen AG has been taking steps to secure enough batteries amid concerns it may not get what it needs from South Korea’s Samsung SDI Co. Daimler AG is betting that half of its global sales will be electric by 2030.”
“Toyota and Germany’s Volkswagen, the world’s two largest automakers, are seeking to leapfrog Tesla Inc. and Nissan Motor Co., maker of the best-selling Leaf electric vehicle. Volkswagen and Daimler have announced tens of billions of dollars in battery investments.”
But more work is needed. “CATL and Toyota agree that a stable supply of batteries is critical and that battery technology must be further developed and advanced,” Toyota said in the statement.
https://www.orocobre.com/news/toyota-strikes-deal-with-catl/
Orocobre Limited – Top Junior Lithium Producer
Macquarie Australia Conference – Corporate Presentation
(NMX) (NMKEF)Nemaska Lithium Announces CAD 600M Equity Investment Proposal from The Pallinghurst Group
July 19, 2019
“I am very proud today to share with all Nemaska Lithium stakeholders, the positive outcome of months of thorough review of alternatives and of discussions with several interested parties. Pallinghurst is a renowned financier with a unique vision and a deep knowledge of the lithium and battery material sector, making it a prime partner with whom we can embark on the next phase of our development. With Pallinghurst and Investissement Québec’s loyal support, we are solidifying the Corporation’s longevity and therefore, increasing the inherent value of the project for our stakeholders,” said Guy Bourassa, President and CEO of Nemaska Lithium.
“It is a pleasure to announce Pallinghurst’s intention to become a key partner of Nemaska Lithium, a corporation that truly embodies the future of supplying premium quality lithium products to the rapidly growing battery industry. The Corporation’s sustainable approach to the mining of its world-class deposit combined with the use of innovative value-adding technology sets Nemaska Lithium apart. In our view, Nemaska Lithium’s lithium salt will rapidly become one of the most sought-after battery materials globally. The Nemaska Lithium investment is in line with Pallinghurst’s desire to focus exclusively on the supply of critical battery and fuel-cell related materials. In addition, we are delighted to further invest in the Province of Québec, one of the world’s most attractive mining jurisdictions,” said Arne H. Frandsen, Co-founder and Managing Partner of Pallinghurst.
Most actively traded companies on the TSX
by @canadianpress on 19 Jul 2019
Some of the most active companies traded Friday on the Toronto Stock Exchange:
Nemaska Lithium Inc. (TSX:NMX). Materials. Up 8.5 cents, or 38.64 per cent, to 30.5 cents on 11.1 million shares.
Jaguar Mining Inc. (TSX:JAG). Materials. Up one cent, or 6.45 per cent, to 16.5 cents on 9.3 million shares.
(GXY.AX) (GALXF) Galaxy Resources Limited – Corporate Presentation – July 2019
Lithium Producer & Developer
(PLS.AX) (PILBF) PIlbara Minerals – Production, Sales, and Corporate Update
9 JULY 2019
• Shipped tonnes for June 2019 Quarter of 43,214 dmt; at the higher end of recently
stated guidance.
• Pilbara Minerals expects its production and sales to return to full capacity for the
December 2019 Quarter, based on the latest discussions with customers.
• New offtake agreement signed with China’s Great Wall Motor Company, with first
shipment expected in August 2019.
• Strong progress on proposed POSCO JV for the downstream chemical conversion
facility in South Korea.
http://www.pilbaraminerals.com.au/site/PDF/2423_0/ProductionSalesandCorporateUpdate
$PLS.AX $PILBF Pilbara Minerals – #CorporatePresentation
#Lithium #Producer & #Developer – also Tantalum exposure
http://www.pilbaraminerals.com.au/site/PDF/2402_0/CorporatePresentation
I see nobody has bothered to comment on the Bitcoin segment which probably says all you need to know. Is Bitcoin turning from a ‘currency’ into a philosophical thought experiment. “If a tree falls in a forest and no one is around to hear it, does it make a sound?” Maybe it could be “if Bitcoin moves to $65k but everyone that owns it is HODL, is it worth anything?”
This ibm executive thinks Bitcoin will be one million dollars per coin
https://bitcoinmagazine.com/articles/ibm-exec-forecasts-a-million-dollar-bitcoin-when-a-sat-will-equal-a-cent. Peter Brandt forecast at least $50,000.
It damn well better get to a million or McAfee will have to eat his you know what…
All the talking heads and analysts I’ve heard recently are saying the same thing as Vic Soprano. Everyone says the stock market is going higher and no recession because the Feral Reserve will cut rates.
I am sure they will be right on the last part. The Feral Reserve will cut but in a world awash in debt, the biggest debt bubble ever, why does everyone assume that more debt can hold back a recession and stock market crash?
Sorry to put a turd in Trader Vic’s punch bowl.
Marc Chandler, Managing Partner at Bannockburn Global ForEx
Cory, I thought Marc was with Brown Brothers Harriman or was that someone else you interviewed from there?
Hey Ebolan,
Marc was with Brown Brothers Harriman but made the move about a year ago over to Bannockburn.
GDX has never looked so good versus the stock market. GDX:SPY is up 37% since the end of April and 56% since September and has closed above its 200 week MA for the first time in 7.5 years. That MA is also finally (bullishly) rising…
https://stockcharts.com/h-sc/ui?s=GDX%3ASPY&p=W&yr=5&mn=6&dy=0&id=p59524017927&a=676875976
Here is a good article about the present state of the market with plenty of charts including some of select royalty companies and large producers.
https://www.gold-eagle.com/article/bull-or-bear-market’s-message
Things sure do look good for the sector!
Great chart!
Gold Miners Index vs Dow:
https://stockcharts.com/h-sc/ui?s=%24GDM%3A%24INDU&p=W&yr=6&mn=0&dy=0&id=p94102083603&a=576746312
BANG: Why The Gold Miners Have Only Just Begun To Shine
Jesse Felder July 17, 2019
“Over the past year or so I’ve been writing that Facebook, Amazon, Netflix and Alphabet/Google, the FANG stocks as they are well known; were likely to be overtaken by Barrick, Agnico Eagle and Newmont Goldcorp, a group I have dubbed the “BANG” stocks (see: BANG: Why The Gold Miners Could Soon Make FANG Look Tame and BANG: The Ultimate Anti-Passive Investment). Recently, this prediction was borne out. Over the past 12 months, BANG performance has beaten FANG and it has done so by more than 10%.”
https://thefelderreport.com/2019/07/17/bang-why-the-gold-miners-have-only-just-begun-to-shine/
Asia Gold: Consumers cash in on price rally, some switch to silver
Reuters | July 19, 2019
“Consumers in leading Asian hubs continued to sell off physical gold this week, with some switching their holdings to silver, after a jump in prices that also attracted interest from investors betting further gains.”
https://www.mining.com/web/gold-consumers-cash-in-on-price-rally-some-switch-to-silver/
In my opinion, if the fed raises rates by the “standard” 25 basis points gold will get a brief uptick in buying that may well see it close consecutive days above $1450. But it will then retrace somewhat as this cut has largely been factored into market prices already. However if the fed cuts rates by a more significant 50 basis points, this could really give gold a shot in the arm towards $1500.
Of course in this age of unpredictability the complete opposite could happen… Who knows for sure?
There’s a good chance it will close consecutive days above 1450 before the Fed’s announcement.
You maybe right Matthew but I cant see it happening before the fed announcement personally.
The first sentence above has the word “raises”. Of course I meant cut!… whoops!
ha! It may be a while before we see any raising of rates by central banks.
I agree with the point you are making though, as a 25 basis point cut is already baked in at this point, and it would take a 50 basis point cut to really move the needle in the markets.
Cheers Ex!
The Big Picture; Gold has Been in a Bullish Trend Since December 2015
by Gary Wagner – July 19, 2019 #TechnicalAnalysis #Charts #VIDEO
https://thegoldforecast.com/video/big-picture-gold-has-been-bullish-trend-december-2015
I bet Gary got his info from the KER…… 🙂
Were were sure saying that 2015 marked the bottom in the Gold pricen and that it had been in a gradual bullish move higher since Dec 2015. Most people saw Gold gain $200-$300 dollars off it’s Major Low, that never got tested again, and yet insisted we were still in the bear market that started in 2011. That was wrongo in congo, but finally the proof is in the pudding when Gold took out the 2016 high of $1377.50 from the initial wave up.
Now Gold has also taken out $1392.60 and $1434 – two other prior peaks on the way down in the bear market, and people are STILL debating if this is a new bull. (WTF?) New bull? Gold has been heading higher hitting it’s head on resistance for the last few years, but surely was not in a bear, and never came close to putting in new lows. Maybe when Gold is above $1500 or $1600 they’ll jump on board after the easies gains from $1045.40 to then have already been had. I guess that’s what makes a market. 😉
Yes SIr,……You are spot on……..the double bottom bounce said it all….Lot of gurus late to the party….anyone doubting what some recognized in Dec 2015 …can look up the dated material post in Dec 2105…..It is on the recorded….. 🙂
record……I was stuttering….. lol
Ditto. Check the record, since Dec 2015 through present. So many kept claiming we were in a continuation of the 2011 bear, but clearly we were not. $1045.40 has been in the rear view mirror for over 3 years now…
Once again, the KER was ahead of the crowd. Cheers!
You are KERight…. 🙂
Or….KERect…..
nice ones!
Rick Rule
(BTR) (BONXF)Bonterra Intersects 18.5 g/t Au over 3.0 m at Gladiator and 11.6 g/t Au over 2.9 m at Barry
by @newsfile on 22 Jul 2019
https://ceo.ca/@newsfile/bonterra-intersects-185-gt-au-over-30-m-at-gladiator
Thanks for show