Weekend Show – Sat 3 Aug, 2019

Hour 1 – Rick Bensignor, Marc Chandler, and an update from Great Bear Resources

This week was full of news events that drove markets. The Fed started us off on Wednesday with a rate cut but not the promise of future rate cuts. Trump quickly followed with more China tariffs that turned a markets in the opposite direction.

There’s a lot of information in this weekend’s show that considers the markets and politics around the world. Even though the guests I feature this week are both generalists they both have some very interesting comments on the gold market.

I was also at the Sprott conference for most of the week. I will have a few company interviews coming out next week but in this weekends show we do get an update from Great Bear Resources.

Please keep in touch by emailing me at Fleck@kereport.com. I love hearing form all of you and thank you to everyone who stopped to chat the Sprott show!

  • Segment 1 and 2 – Rick Bensignor, Founder of Bensignor Investment Strategies shares his thoughts on the US markets and bond market as well as the gold market. Take note of the global factors he discusses.
  • Segment 3 – Marc Chandler, Managing Partner at Bannockburn Global ForEx takes a close look at the US dollar in light of all the news this week.
  • Segment 4 – We get an update from Great Bear Resources President and CEO Chris Taylor. Great Bear released news yesterday which we follow up on to summarize the exploration this year.

Exclusive Company Updates This Week

Rick Bensginor – Segments 1 & 2
Marc Chandler – Segment 3
Chris Taylor , Great Bear Resources – Segment 4

  1. On August 3, 2019 at 3:32 am,
    markedtofuture says:

    Was 9/11 A Plot to Seize Power?

    QUESTION: What is your view on the new demands for an investigation that there is “overwhelming evidence” that the buildings were brought down by explosives?


    • On August 3, 2019 at 6:04 pm,
      BDC says:

      Larry Silverstein: “Pull it.”
      The God of Jewish Lightning?

  2. On August 3, 2019 at 4:09 am,
    Excelsior says:

    Thanks Cory, Big Al, and all the KER contributors for another great week of interviews, and of course, the weekend show.

  3. On August 3, 2019 at 4:11 am,
    Excelsior says:

    Sprott Money News Weekly Wrap-up – 8.2.19

    “Eric Sprott discusses current events affecting the precious metals market and he also reviews some of the latest developments in the mining sector.”


    • On August 3, 2019 at 4:18 am,
      Excelsior says:

      Sprott Uses Kirkland Gains on Junior Investment Spree

      by @Oreninc on 30 Jul 2019


      “Eric believes the price of gold and silver is going substantially higher and he needs to position himself in companies absolutely ready to participate in this, which are high-cost producers and permitted marginal developers. When the gold price goes up, the margins of these companies go up significantly without them having to do anything,” said Rick Rule, CEO of Sprott Holdings.


      • On August 3, 2019 at 4:24 am,
        Excelsior says:

        Rick Rule on the importance of boredom and his last stock buy

        by @JamesKwantes on 2 Aug 2019


        • On August 3, 2019 at 4:28 am,
          Excelsior says:

          Ross Beaty on Motivation, Business Building and When To Sell Your Gold Stocks

          by @MiningStockEdu on 2 Aug 2019

          Ross: “I fell in love with gold in sort of 2015, kind of close to the bottom of the market in my opinion. Bottom, it had been a bare market for four years. Gold had gone from $1,800 down to about 1,050. I mean, I have plenty of other investments in nickel, zinc, copper, and silver of course. But just talking about gold for a second, I got in very close to the bottom. I mean, I didn’t know it was the bottom, I just knew it wasn’t the top. And this is a cyclical world, so you’ve got to play these cycles. Gold broke out really in January of 2016. it went up from 1,050 to maybe 1,150, 1,200, 1,250. Went back to 1,150, bounced around 1,200 for the longest time. And then bing this year it’s up to 1400 something. Well that’s quite a move. And most of the gold stocks have all done better than that because equities always outperform gold on the way up and they under-perform gold on the way down. That’s just the way beta works, and leverage works.”

          “But I would say to your listeners, be careful not to sell too early. I personally think we are sort of in the fourth inning of a gold bull market where the last few innings we’re going to see gold go bananas. I mean way over $1,800 previous high set in 2011. I could go on for an hour about all the reasons for that, which I’m not going to, but just let’s say I happen to believe in gold is going to have a lovely run. If you have gold investments, maybe take some money off the table. They’ve made pretty good money this year, but do not sell everything. The big money is yet to come. And that’s what I’m counting on in my gold investments. My biggest one is (EQX) Equinox Gold right now, the company I’m trying to build into a million ounce gold producer.”


          • On August 3, 2019 at 4:45 am,
            Excelsior says:

            Doug Casey – Gold is Going Higher, We are in Another Bull Market

            by @PalisadeRadio on 2 Aug 2019


          • On August 3, 2019 at 7:43 am,
            RICHARD/DOC says:

            I would disagree with Mr. Beatty on one point—I don’t believe we are even near to the 4th inning of a gold bull market; it’s more likely the 2nd inning.

          • On August 3, 2019 at 7:57 am,
            OOTB Jerry says:

            Can you verify…..that Ross really fell in love , or even recognized the bottom in 2015, or just pretending he recognized the bottom……..just wondering….

          • On August 3, 2019 at 12:08 pm,
            Excelsior says:

            Doc – I agree, I’m in between you and Beaty then as I see this as the 3rd inning.

            > Inning 1 – 2016 Surge – short and sweet inning

            >> Inning 2 – Late 2016-early 2019 – Consolidation period with pops and drops. There were nice tradable rallies in the Q1 Run of 2017, Fall of 2017, the Q1 Run of 2018, and fall of 2018, and the Q1 Run of 2019……… but overall it was a large digestion period of churning – and pretty boring.

            >>> Inning 3 kicked off in late May of 2019 until……. ?


          • On August 3, 2019 at 12:12 pm,
            Excelsior says:

            OOTB – Good point. Ross was in love with Gold for decades, not just since 2015. However, I believe the point he was making in the interview was he was off on Copper companies and then Alterra Energy for a number of years, and just came around back to a Gold focus in 2015, when he was divesting the assets in Anfield, to combine that cash with Trek Mining and Newcastle Gold to form Equinox Gold (EQX). Now he’s back to a Gold focus and it just happened to be that was playing out near the bottom.

            Ever Upward!

          • On August 3, 2019 at 1:37 pm,
            OOTB Jerry says:

            EX……..thank you very much…..for your reply…….appreciate as always….. OOTB
            Have a great weekend………

          • On August 3, 2019 at 1:41 pm,
            Excelsior says:

            Right back atcha OOTB. Have a great weekend sir!

          • On August 3, 2019 at 1:45 pm,
            OOTB Jerry says:


          • On August 4, 2019 at 8:13 pm,
            b says:

            Doc/Ex….your both wrong.

            The teams have just finished their warm ups and are now just getting on to the field.

            This is going to be a looooooong game.

          • On August 5, 2019 at 7:01 am,
            Excelsior says:

            Well, whatever happens looking forward to the long game.

            I’m all stocked up on pretzels, dogs, and cold beverages. 🙂

          • On August 5, 2019 at 10:47 am,
            Excelsior says:


    • On August 4, 2019 at 9:07 am,
      Excelsior says:

      Gold Stocks Explainer: The Gold Price Surge, The Fed, And The Gold Investing Outlook

      Jed Graham – 8/02/2019

      “After a big letdown from the Fed, it looked like the recent gold price surge would take a breather. Then President Trump took to Twitter the next day and escalated the China trade war. The price of gold reversed Fed-induced losses and surged close to a six-year high of $1,458. Top-ranked Kirkland Lake Gold , which tumbled 10% on July 31, rebounded 8% on Trump’s tweets. Likewise, Barrick Gold stock rebounded close to a two-year high. Doubts about the economic outlook and especially a dovish Fed fueled a gold price surge in the first half of 2019. That sparked a burst of interest in gold investing and gold stocks. With Fed rate cuts back in play, can the good times last?”


    • On August 4, 2019 at 11:12 am,
      Excelsior says:

      “Global #Gold demand grew by 8 per cent year-on-year to 1,123 tonne in the April-June quarter of 2019, mainly driven by central bank purchases and rise in investments in gold-backed ETFs, according to a report. The overall demand in the second quarter of 2018 was at 1,038.8 tonne, according to the World Gold Council’s Q2 Gold report.”

      “Total investment demand was 1 per cent firmer year-on-year, as healthy exchange-traded fund (ETF) inflows in Europe counterbalanced a 12 per cent drop in bar and coin demand… The holdings of gold-backed ETFs grew 67.2 tonne in April-June period to a six-year high of 2,548 tonne.”


  4. On August 3, 2019 at 5:05 am,
    Excelsior says:

    Roxgold (TSX-V: ROXG) – Little Fish Taste Sweeter

    by @CRUXinvestor on 2 Aug 2019

    – Drill Announcement
    – Piecing together the Company Strategy
    – Fundamentals of Mining in Africa and the Competition in the Country
    – Possible Gold Market Prediction


  5. On August 3, 2019 at 5:28 am,
    Excelsior says:

    Gold’s Top Performer Told Don’t Splurge To Replace Fading Mines

    Bloomberg News | August 2, 2019

    “Gold miners in Australia, the industry’s most profitable operators, are facing a slump in output that’ll leave the nation trailing key rivals — and they’re being warned to resist the temptation to replace fading mines with high-cost production.”


  6. On August 3, 2019 at 6:17 am,
    markedtofuture says:

    Ocasio-Cortez Chief Of Staff And Comms Director Abruptly Quit

    Two weeks after former Chicago Mayor and Obama White House Chief of Staff Rahm Emanuel said that Rep. Alexandria Ocasio-Cortez and her “snot-nosed punk” chief-of-staff Saikat Chakrabarti are destroying the Democratic party, Chakrabarti and AOC’s communications director Corbin Trent have abruptly resigned from the Congresswoman’s office, according to The Intercept.


  7. On August 3, 2019 at 6:42 am,
    cfs says:

    I am delighted when traders are upset by Trump’s tweets, because I dislike traders. (my apologies to traders, just telling the truth.)
    Stock markets were instituted as a way to invest in industry and the economy.
    In my opinion, traders are simply people that have found a way to make money out of fluctuations in the market; which, while providing liquidity, is hardly investment in the economy; the purpose of the stock market.

    • On August 3, 2019 at 7:51 am,
      Matthew says:

      You’re quite the collectivist with your ideas about what’s acceptable and what isn’t. The vast majority of “buy and hold” investors buy their stocks in the secondary market. Such is also “hardly investment in the economy” since they did not fund anything but the guy who wanted out of his shares.
      Like your stance on monopolies, your urge to regulate traders is misguided.

      Free markets with strong and EVENLY APPLIED contract and fraud laws are best for the prosperity of the majority of people. More importantly, it’s the most moral approach.

      So efforts to change the system would be much better spent making sure that cronyism is minimized and individual freedoms are expanded (they’ve shrunk massively under both Ds and Rs over the last 20 years).

      Those who seek to control others on illegitimate grounds are immoral, not traders.

      • On August 3, 2019 at 2:59 pm,
        cfs says:

        I have no urge to regulate traders.

        If I did I would have said so.

        I use chartist techniques, just like a trader,when choosing when to enter or leave a position. i.e. for timing.
        But my choice of investments are also guided by fundamentals primarily.

  8. On August 3, 2019 at 6:51 am,
    cfs says:

    Mr. Bensignor, how does Trump get leverage to stop China from stealing trade secrets and demanding 51% of all companies doing business in China?

  9. On August 3, 2019 at 7:11 am,
    cfs says:

    You may think the Fed is market reactive, and it may appear so. It may even be true.

    I would suggest, however, that the Fed is largely a political entity, even if owned by bankers. Given the size of the National Debt, there is little political choice the Fed has, other than to lower interest rates, in order to m=minimize the interest cost of carrying debt.

    The ability of Governments to tax is limited. While government expenditure is high (in order to get votes), the increasing debt will increasingly dominate Fed behavior.

    • On August 3, 2019 at 8:03 am,
      OOTB Jerry says:

      Do not give them any credit……except as a bunch of thieves ……..pretending they have any credit at all makes you look like you have not done your home work….

      • On August 3, 2019 at 8:12 am,
        OOTB Jerry says:

        Respectfully submitted………..

  10. On August 3, 2019 at 8:17 am,
    Matthew says:

    The miners are performing very bullishly even when priced in real money. Here’s GDX vs GLD:

  11. On August 3, 2019 at 8:34 am,
    Matthew says:

    If I’m right about gold next week, then silver is about to break out of its 2 week holding pattern and finally start to move well away from the 200/233 week MAs:

    • On August 3, 2019 at 9:08 am,
      RICHARD/DOC says:

      Matthew, I feel the odds of that are probably better after next week.

  12. On August 3, 2019 at 10:10 am,
    Matthew says:

    Here’s an-opening XAU chart that I posted last September. The miners are at an important juncture but are ultimately heading much, much higher.
    Note the resistance levels above…

    • On August 3, 2019 at 11:12 am,
      Matthew says:

      Oops, “eye-opening” chart. It’s the pain meds. 🙄

      • On August 3, 2019 at 1:54 pm,
        Excelsior says:

        Thanks Matthew. The bounce off fork support in 2016 only for the consolidation to keep falling along the middle fork support is “eye opening”, as is the recent charge higher.

        • On August 3, 2019 at 2:31 pm,
          Excelsior says:

          The XAU index appears to be at a key resistance level now where it pulled back last time and there is a lot of prior trading congestion around that dashed trendline you drew. We’ll see how it goes this round.

  13. On August 3, 2019 at 10:14 am,
    OOTB Jerry says:

    We’ve managed to persuade Governments to follow damaging and contradictory policies. As society reeled in the wake of the financial crisis, we persuaded policy makers to cut back spending through “austerity” spending programmes, simultaneously bailing out bankers while flooding the financial economy with free money through Quantitative Easing.

    Effectively we’ve split the world into two economies. A real economy which is sad, miserable and deflating, and a financial economy that’s insanely optimistic, massively inflated and ripe to pop on the back of free money.

    • On August 3, 2019 at 10:19 am,
      OOTB Jerry says:

      Our success can be seen in current financial asset prices. These are now hopelessly inflated and distorted by foolish post financial crisis policy decisions. They are bubbles set to pop. Empower the regulators and bureaucrats to compromise finance through zealous over-regulation, making banking safer by destroying it. Usher in a new era of trade protectionism, the end of Free Trade and increase the suspicion some countries are manipulating their currencies for economic advantage. Sprinkle some dust of political catastrophe, the collapse of law, undo the fair, just and caring society, while adding some eye of newt and complex environmental threats. Make the rich so rich they don’t notice, and the poor so poor they become invisible. If the markets remain uncertain, then it distracts mankind from addressing these issues, making society less stable!

      There as some things we’re really proud of, including the Euro, Social Media, Investment Banks, the Tech Boom, and especially Quantitative Easing (which is still delivering confusion and pain). New Monetary Theory could prove even better – it shows tremendous potential to thoroughly unsettle confidence in money. Cybercurrencies are particularly fun – despite coming up with the idea, neither we, nor even the distinguished members of our panel of eternal guests, understand the why of them. They are libertarian nonsense – so, naturally we continue to encourage them as get-rich-quick schemes, but they also further undermine confidence in money and government. We made something up in a bar one night and called it a Distributed Ledger – the humans ran with it and invented Blockchain, whatever that might be..

  14. On August 3, 2019 at 1:57 pm,
    Excelsior says:

    Uranium Insider – August 3rd, 2019

    “I previously had said that it was in Cameco’s best interest to acquire the lbs it needs as inexpensively as possible to fulfill it’s existing contracts. After multiple private conversations, I now believe they have an opposite strategy: to purchase their needed spot lbs concurrently with any utilities’ buying to have maximum leverage in moving the spot price up. ”


    • On August 3, 2019 at 2:00 pm,
      Excelsior says:

      Energy Fuels (NYSE: UUUU) – Grabbing a Tiger by the Tail. Uranium Market Goes Wild.

      by @CRUXinvestor on 31 Jul 2019

      “(UUUU) (EFR) Energy Fuels CEO Mark Chalmers, post Section 232. Mark discusses the petition and how the Presidential Memorandum has been received the Uranium Market. Speculation is abound as to what the the 90 day Working Group has been asked to do and what all the possible outcomes will be. Some say Section 232 is not dead for the US Uranium companies. Others say that this has led to a much bigger discussion for Nuclear Fuel Industry as a whole. And the Memorandum says it is to look at Nuclear Fuel Production.”


      • On August 3, 2019 at 2:03 pm,
        Excelsior says:

        funny and alarming scuttlebutt from the Sprott Conference in the Uranium sector from Tommy who runs ceo.ca:

        @tommy – “Something about fisticuffs between (NXE) Nexgen’s Trav and Marin Katusa at the sprott conference? Boys!”


  15. On August 3, 2019 at 3:09 pm,
    Excelsior says:

    Silver Rally Has Attention of Precious Metals Bulls

    Andrew NyquistBy – July 31, 2019


  16. On August 3, 2019 at 5:30 pm,
    Matthew says:

    🔴 Gold vs Bitcoin Debate: Peter Schiff vs Anthony Pompliano

  17. On August 3, 2019 at 8:52 pm,
    johnnygeneric says:

    He saw oil fall and it was a bad day? It was a GOOD day for me. I’ve been shorting oil for weeks. IT has MUCH further to fall. Surely, your guest knows this.

  18. On August 3, 2019 at 9:06 pm,
    johnnygeneric says:

    I’m sorry but Rick is completely political. Otherwise, why bring it up?

  19. On August 3, 2019 at 9:07 pm,
    johnnygeneric says:

    I find it amazing that I can trade and make money and not pay any attention to the politcal climate. I FOLLOW THE CHARTS. There’s no reason to bring politics up.

  20. On August 4, 2019 at 6:02 am,
    Excelsior says:

    Lithium’s Price Paradox

    30th July 2019 – Benchmark Mineral Intelligence

    “By mid-2018, with four new hard rock operations set for production, spodumene had overtaken brine as the leading source of chemical feedstock production. The number of active mines had climbed from 1 in 2016 to 9 by the end of 2018.”

    “The false narrative which emerged from these expansions and spilled over into 2019 was that the industry was awash with battery-grade lithium chemicals, sufficient to support rapid electrification over coming years.”

    “While the supply response has addressed the relatively minor growth of today, it is still far from meeting the needs of tomorrow’s EV expansions.”


  21. On August 4, 2019 at 8:30 am,
    Dick Tracy says:

    Lowering the interest rate is a bad move for America. Who do you think is purchasing government securities in the open market, ask yourself who would want them? What about gold do you think that gold will be accumulated in The United States when The Reserve authorities are only concerned with the easing of money rates. This continual one step up and one step down in the rates will not stabilize domestic or international currencies but drive them nuts. Business is so mired in debt that this time the lowering of rates will not be beneficial. Money and credit expansion has been so plethoric that the public won’t respond anymore. The authorities are wrong this time the public will not buy into the markets they see what is going on. Now it is a matter of will you overstay this bull market. Is Deflation underway or will we churn sideways for a few more months before the system cracks wide open. DT

    • On August 4, 2019 at 11:12 am,
      Matthew says:

      Right you are, DT. Lowering interest rates is a bad move but then ANY interest rate manipulation is a bad move. Such centralized control over the most important price of all (the price of money) is the stuff of Marxists/totalitarians. Notice that Trump only has a problem with the way the manipulation is done and not the manipulation itself.

      Stockman is correct: Trump is an economics ignoramus.

  22. On August 4, 2019 at 10:46 am,
    CFS says:

    DT, Factually, various hedge funds and pension funds have been responsible for the majority of the low interest bond buying.
    Remeber that although interest rates are low, as long as interest rates are falling, the bond Value is increasing and there are Capital Gains. Capital Gains plus paltry interest can still exceed inflation.l

  23. On August 4, 2019 at 1:17 pm,
    Matthew says:
  24. On August 4, 2019 at 3:12 pm,
    Matthew says:

    Stating the obvious, Dr. Copper says the economy is not fine…

  25. On August 4, 2019 at 5:46 pm,
    Excelsior says:

    (SCZ) (SZSMF) Santacruz Silver Reports Second Quarter 2019 Production Results

    > Consolidated silver equivalent production increases by 114% as compared to Q2 2018 and 45% as compared to Q1 2019
    > Veta Grande silver equivalent production increases by 185% as compared to Q2 2018 and 18% as compared to Q1 2019
    > Rosario silver equivalent production increases by 48% as compared to Q2 2018 and 145% as compared to Q1 2019


    • On August 4, 2019 at 6:12 pm,
      Excelsior says:

      Gold up 1.6% in overseas trading to $1455.80.

      It would be nice if Silver would get the memo and play a bit more catch up relative to Gold this week. Silver could easily move in the $17’s.

      • On August 4, 2019 at 9:10 pm,
        Excelsior says:

        Gold now at $1464.90 up 2.3%

        Silver at $16.51 up 2.1%

        • On August 4, 2019 at 9:17 pm,
          Matthew says:

          Short term, we’ll be lucky if silver can just hold its own vs gold. Look at the daily MACD for GLD:SLV…

          • On August 5, 2019 at 5:39 am,
            Excelsior says:

            Thanks. I guess it is just surprising that Silver seems stuck around $16.50 when Gold is treking up past $1473 this morning.

            Back in 2016, when $Gold surged to $1377.50, $Silver was up above $20+, so it a bit disappointing to see it stuck in the $16’s when Gold is now $100 higher than it was back then and breaking out to new recent highs.

          • On August 5, 2019 at 7:04 am,
            OOTB Jerry says:

            Silver manipulators………..EX……you have not been reading silver stealers .net… 🙂

          • On August 5, 2019 at 7:46 am,
            Matthew says:

            Don’t worry guys, silver will break out and have its day.

          • On August 5, 2019 at 7:54 am,
            Matthew says:

            SILJ breakout (even though silver has not made a new high):

          • On August 5, 2019 at 8:56 am,
            OOTB Jerry says:

            Something strange about the reaction to SILVER……

          • On August 5, 2019 at 8:58 am,
            OOTB Jerry says:

            Historically,,,,,,,,,Silver always the step child…..in the USofA….go back to 1890…

          • On August 5, 2019 at 9:39 am,
            Matthew says:

            SILJ is telling us not to worry about silver getting smacked down.

          • On August 5, 2019 at 10:06 am,
            Excelsior says:

            It would just be ideal for the miners in SILJ if Silver got back up above $18 heading towards $20 as that really makes an impact on most producers margins.

            It looks like the miners are starting to price in that move ahead of time as they’ve been pretty strong today.

            At $1477 Gold one would think $20 Silver is more than reasonable, and yet it continues to lag….

          • On August 5, 2019 at 10:30 am,
            OOTB Jerry says:

            At this rate……Silver will have to go parabolic , just to catch up to gold…… 🙂

          • On August 5, 2019 at 10:53 am,
            Excelsior says:

            OOTB -Silver going parabolic would not hurt my feelings! 🙂

          • On August 5, 2019 at 11:23 am,
            OOTB Jerry says:

            Ex…….I did not think it would….. 🙂

    • On August 5, 2019 at 9:02 am,
      Dan, calgary says:

      Currently SCZ and IPT are my largest holdings and I am happy with that. My weighting could change quickly but I have a core that I will keep for the main price movement, hopefully up, haha.

      • On August 5, 2019 at 10:17 am,
        Matthew says:

        Geez Dan, I can see why you’re happy with that. I just want to know why I didn’t get the memo about SCZ in May!
        I’m happy for you. 🍻


        • On August 5, 2019 at 11:49 am,
          Dan, calgary says:

          I picked up a couple downtrodden stocks that would give a huge return just returning to their former glory. So far so good!

      • On August 5, 2019 at 10:55 am,
        Excelsior says:

        Agreed then, Santacruz, Exellon, Alexco, First Majestic, and Impact, are big positions for me that have moved well lately.

        • On August 5, 2019 at 10:57 am,
          Excelsior says:

          USAS Americas Silver has had a nice move as well.

  26. On August 4, 2019 at 8:22 pm,
    markedtofuture says:

    Currency War Begins: Chinese Yuan Crashes Past 7 To New Record Low As Global Markets Tumble

    Update 2: – China’s central bank has confirmed that it is, indeed, on, saying that it is able to keep the yuan exchange rate at a reasonable and balanced level – whatever that means – while acknowledging that the Yuan plunging beyond 7 per dollar is due to market supply and demand, trade protectionism and expectations on additional tariffs on Chinese goods.


  27. On August 5, 2019 at 3:19 am,
    buzz says:

    Monumental moment for MXSG

    • On August 5, 2019 at 1:56 pm,
      Excelsior says:

      Agreed. Pour gold, and most investors haven’t even picked them up on their radar yet.

      Ever Upward!

  28. On August 5, 2019 at 5:30 am,
    OOTB Jerry says:

    DANG GOLD looking GOoooooooood………..$1461…., but, the Crimex markets are not open

    • On August 5, 2019 at 5:41 am,
      OOTB Jerry says:

      SPOT ON……..so far………… 🙂
      On August 2, 2019 at 4:34 pm,
      Matthew says:
      Gold hit resistance today and closed near it while finishing the week at its highest weekly close of the year (by a $30 margin). Gold was a MACD sell for the last month but never did go lower.
      Now a daily chart MACD buy, it looks like it will be going higher next week…

      • On August 5, 2019 at 7:23 am,
        Matthew says:

        Thanks Jerry! 🍻😎

        • On August 5, 2019 at 7:29 am,
          OOTB Jerry says:

          You are welcome……glad to have the info….and thank you….

  29. On August 5, 2019 at 5:56 am,
    OOTB Jerry says:

    By Ambrose Evans-Pritchard
    The Telegraph, London
    Monday, August 5, 2109

    China has hit back against the Trump administration with a drastic exchange rate devaluation, almost guaranteeing a superpower showdown and a lurch towards full trade war.

    The yuan blew through the symbolic line of seven to the dollar for the first time since the global financial crisis, with the offshore rate in Hong Kong spiking to 7.07 in moves that stunned seasoned traders.

    This escalation comes at a highly sensitive moment. A meeting at the White House in late July actively discussed using the U.S. Treasury’s Exchange Stabilization Fund to buy foreign currencies and drive down the dollar as a matter of policy — an extraordinary moment in the history of the world’s paramount reserve currency. It is no surprise that gold has surged to a five-year high of $1,470.

    • On August 5, 2019 at 7:01 am,
      Ozibatla says:

      So true Ex. Gold is looking increasingly strong as time progresses. For that strength to progress throughout all PMs, it would be nice to see silver go through a good period of catch up.

      Without gold being taken down significantly, I think the GSR to fall below 80 is almost as significant as gold pushing through the major $1500 area. Currently, I think gold hitting $1500 will happen first. We shall see. I still cant rule out another takedown in the gold market. However due to its increasing strength, I cant see it going lower than the former resistant area of 1360-1380. Of course the complete opposite could occur, Im certainly no expert.

      • On August 5, 2019 at 10:09 am,
        Excelsior says:

        Good thoughts Ozibatla. Yes, a GSR under 80 seems reasonable considering the recent strength in PMs, but Silver is just barely moving as Gold keeps trekking higher. I agree that Gold hitting $1500 is a more likely scenario than Silver getting to $19 or $20, but it just blows my mind that at $1377 Gold, Silver was near $21 and not it can’t seem to break up through $17. Silver needs to get it’s rear-end in gear already.

        • On August 5, 2019 at 4:20 pm,
          Ozibatla says:

          Too right it does! Unfortunately the safe haven sentiment we are witnessing is filtering solely towards gold whilst silver is forgotten. This will change eventually!

  30. On August 5, 2019 at 6:24 am,
    OOTB Jerry says:

    11:53p ET Monday, August 4, 2109

    Dear Friend of GATA and Gold:

    A friend who has not been paying close attention to the gold market for a while asked your secretary/treasurer this afternoon for a summary of his outlook. With the monetary metals on fire tonight as they have not been for a long, long time, maybe the reply is worth sharing:

    1) The gold market has felt very different for months — felt much stronger.

    2) The usual central bank-instigated smashdowns, which used to depress the price for weeks or months, now are failing to keep the price down for more than a day or two.
    3) The New York Commodities Exchange’s gold market has been operating very differently, with most contracts seeking delivery converted into a formerly rarely used mechanism called “exchange for physicals” whereby they are settled somewhere off the exchange, apparently in London. Until recently this mechanism was said to be used only in emergencies. Now it seems to be settling most Comex gold contracts. The implication is that there is little or no gold available immediately in Comex vaults. Whatever it means, there is a huge change here.
    4) The “exchanges for physicals” seem to be rolled over in London every two weeks to escape ordinary reporting requirements. This implies that the sellers are trying to hide something. Of course that the major powers in the gold market are trying to hide things is not new, but that they are using new mechanisms of concealment is new.

  31. On August 5, 2019 at 6:51 am,
    OOTB Jerry says:

    GOLD more valuable than Palladium…$1465 vs..$1409………….FINALLY….. 🙂

  32. On August 5, 2019 at 7:42 am,
    Dick Tracy says:

    The bankers must have slipped through a back door in one of wall street’s financial buildings this morning, to discuss the trade wars, the stock market, and the fear trade. There will be volatility galore all week and look for the unexpected, or dare we say the reckoning. DT

    • On August 5, 2019 at 7:44 am,
      Dick Tracy says:

      Ex, I’m glad you have built a firewall around your portfolio. LOL! DT

      • On August 5, 2019 at 10:07 am,
        Excelsior says:

        One brick at a time……. just another brick in the fireWall.

  33. On August 5, 2019 at 8:26 am,
    cfs says:

    London closes and US slams gold !

    • On August 5, 2019 at 8:52 am,
      OOTB Jerry says:

      see note below……..game a little different now….according to gata

      • On August 5, 2019 at 8:55 am,
        OOTB Jerry says:

        $1469….gold………charts are going to start looking a whole lot different now….

  34. On August 5, 2019 at 8:48 am,
    OOTB Jerry says:

    Topic covered ……….
    3) The New York Commodities Exchange’s gold market has been operating very differently, with most contracts seeking delivery converted into a formerly rarely used mechanism called “exchange for physicals” whereby they are settled somewhere off the exchange, apparently in London. Until recently this mechanism was said to be used only in emergencies. Now it seems to be settling most Comex gold contracts. The implication is that there is li

    • On August 5, 2019 at 8:50 am,
      OOTB Jerry says:

      Now it seems to be settling most Comex gold contracts. The implication is that there is little or no gold available immediately in Comex vaults. Whatever it means, there is a huge change here.

  35. On August 5, 2019 at 9:34 am,
    b says:

    What am I missing something?

    Gold is up but my shares have zero volume, anywhere Im looking says the markets are open.

    If they are open whats with the zero volume?

  36. On August 5, 2019 at 9:44 am,
    b says:

    THX Mat.

    I thought it was closed but everywhere I looked Aug 5 was missing for some reason,
    Bob didnt even have the info on 321.

    • On August 5, 2019 at 10:10 am,
      Matthew says:

      I don’t know but boy do I dislike holidays!

  37. On August 5, 2019 at 11:45 am,
    Charles says:

    U.S. listed silver stocks including USAS, AXU, ASM, were up big this morning, but have faded on heavy volume. Still up on the day, but the high was lower than the most recent peak (short term double top) or just shaking the tree for the next ride up? Stocks are way above the upper bollenger band of the 200-day moving average, but the weekly charts still look constructive riding the upper bollenger band. Who knows.

    • On August 5, 2019 at 1:58 pm,
      Excelsior says:

      Yes, I did some rebalancing on a number of stocks today in the Silver space, trimming some and adding to others. Lots of action today.