Chris Temple from The National Investor – Wed 7 Aug, 2019

Stocks Continuing To Crash While Gold Is Soaring

Chris Temple joined me early today to address the open of the markets which is looking bad for US markets. This is continuing to push gold higher bow through $1,500. We had some smaller central banks cut more than expected, the RBI (Reserve Bank of India) and RBNZ (Reserve Bank of New Zealand), while the Bank of Thailand also cut rates.

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Comments:
  1. On August 7, 2019 at 7:36 am,
    Matthew says:

    The interesting thing is that silver is up twice as much as gold even with stocks falling and within a “risk off” environment.
    https://stockcharts.com/h-sc/ui?s=SLV&p=W&yr=3&mn=9&dy=0&id=p73306405620&a=619821453

  2. On August 7, 2019 at 8:23 am,
    OOTB Jerry says:

    Looks like $1575……..rather than $1550……..????

  3. On August 7, 2019 at 8:27 am,
    OOTB Jerry says:

    Ditto……….the time to” Worry is Over”….CT says….

    • On August 7, 2019 at 8:37 am,
      OOTB Jerry says:

      Gold going a LOT HIGHER ……..
      Crimex……..and the paper……is going
      Chris you are a “SMART ASS”……. 🙂

  4. On August 7, 2019 at 8:28 am,
    Silverdollar says:

    I’ve never heard Chris so nervous and full of warning for stock holders. The worst he describes may not happen but I would heed his advice if I were a subscriber. I’d heed his advice if I were in general stocks. I’m not so I’m enjoying the show. I’ve always thought the day could come when those who always planned on exiting when things get bad, get their head handed to them.
    What’s really scary to me is the boys we have put in charge: trump and Kudlow and their likes.. Good luck to everyone.

    • On August 7, 2019 at 8:30 am,
      OOTB Jerry says:

      Stock Market should have ROLLED OVER 4 yrs ago……no one should be surprised….

      • On August 7, 2019 at 8:31 am,
        OOTB Jerry says:

        All we have had is a MELT UP…..

        • On August 7, 2019 at 8:54 am,
          Dick Tracy says:

          A grilled cheese…….

          • On August 7, 2019 at 8:56 am,
            OOTB Jerry says:

            Swiss cheese………

          • On August 7, 2019 at 8:58 am,
            OOTB Jerry says:

            DT………let me know when silver goes parabolic ………you were spot on at $49….

          • On August 7, 2019 at 9:27 am,
            Marty says:

            Bid is saying today one to one with gold– $17-20K silver

          • On August 7, 2019 at 9:27 am,
            Marty says:

            Bix

          • On August 7, 2019 at 9:34 am,
            OOTB Jerry says:

            Bix…….needs to do more home work……..that is the little people’s money….
            If, it goes to $17k…….gold will be $100,000
            Better read the silver stealer .net………the controllers will never let it happen….
            at least not in OUR LIFETIME…………..JMO

  5. On August 7, 2019 at 8:29 am,
    Matthew says:

    Gold has pulled back from the 1525 target that I showed the other day (chart does not yet show today’s action):
    https://stockcharts.com/h-sc/ui?s=%24GOLD&p=W&yr=7&mn=7&dy=0&id=&a=638471359

    • On August 7, 2019 at 8:52 am,
      OOTB Jerry says:

      Should be interesting to see……later……..

  6. On August 7, 2019 at 8:46 am,
    Matthew says:

    2016 gave gold a weekly “golden cross” that will last for many years.
    Based on weekly closing prices, the next obvious resistance starts at about 1570…
    https://stockcharts.com/h-sc/ui?s=%24GOLD&p=W&yr=9&mn=3&dy=6&id=p07226721921&a=541770308

    • On August 7, 2019 at 8:49 am,
      OOTB Jerry says:

      interesting……..

      • On August 7, 2019 at 9:01 am,
        Dick Tracy says:

        Time to go out and have a Duff Beer, and a tailgate party. Who needs Gold! LOL! DT

        • On August 7, 2019 at 9:04 am,
          OOTB Jerry says:

          Rappers……need gold for their front teeth……..With all the shootings…..the hood and gold teeth will be all the rage…..lol

          • On August 7, 2019 at 9:05 am,
            OOTB Jerry says:

            Sorry…….should be more respectful ….

          • On August 7, 2019 at 9:15 am,
            Dick Tracy says:

            The Bankers Creed, “There has been a little distress selling on The Stock Exchange. We have found that there are no houses in difficulty and margins are being maintained satisfactorily.” It is always a good idea to put a positive spin when you are holding a truckload of useless securities that you want to unload. DT

  7. On August 7, 2019 at 9:29 am,
    Matthew says:

    Those who were under exposed to the gold stocks for the last two months should recognize that the silver stocks are serving up a second chance. They are still on the ground from a big picture perspective:
    Compare SILJ…
    https://stockcharts.com/h-sc/ui?s=SILJ&p=W&yr=3&mn=1&dy=0&id=p43792627927

  8. On August 7, 2019 at 9:54 am,
    Matthew says:

    On average, silver miners with lower grade deposits are going to beat the higher quality first-movers when it’s all said and done.
    Speaking of low grade, KTN is coming to life…
    https://stockcharts.com/h-sc/ui?s=KTN.V&p=D&yr=1&mn=5&dy=0&id=p79656248634&a=608099958

    • On August 7, 2019 at 9:57 am,
      Matthew says:

      *I own quite a bit of KTN

      • On August 7, 2019 at 10:18 am,
        Excelsior says:

        I have a nice Kootenay Silver position as well, and agree that longer term the low-grade bulk deposits will eventually catch up to the early movers with the high-grade deposits, as the metals prices keep rising. Look at Bear Creek Mining (BCM) as another example. I hold ABRA AbraPlata as another one that will finally get traction once the Silver prices rise up into the $18-$20+ level.

        KTN is a bit more well-known due to their JV partnership with PAAS, so they should stand out in the Silver development stories.

        I also hold FISH Sailfish Royalties and have been nibbling at TEN Terraco Gold, (since there is a nice arbitrage between it’s 12:1 ratio takeover by FISH, to accumulate a larger position in it. FISH has a Net Smelter Royalty on Kootenay’s La Cigarra property that will only become more and more valuable.

        http://www.sailfishroyalty.com/sr/sample

        • On August 7, 2019 at 10:50 am,
          Matthew says:

          I dunno dude… seems fishy 🤨

          • On August 7, 2019 at 12:17 pm,
            Excelsior says:

            Good one Matthew!

            I followed the spin-out of (FISH) from Marlin Gold (MLN) that merged with Golden Reign (GRR) to form the new Gold producer (MKO) Mako Mining.

            One of the big royalty deals that (FISH) has is on San Albino that Mako Holds.

            However, the latest news on the Sailfish takeover of Terraco Gold is underappreciated by the market, and there has been a nice arbitrage trade going on since the announcement, that I’ve been taking advantage of.

            _______________________________________________________________________

            (FISH) Sailfish Royalty to Acquire (TEN) Terraco Gold, Creating a New GrowthOriented Royalty Company

            June 20, 2019

            http://www.sailfishroyalty.com/news%20PDFs/2019/2019.06.20_NR.pdf

          • On August 7, 2019 at 12:20 pm,
            Excelsior says:

            Sailfish Provides Updates on San Albino and El Compas Royalties

            These drill results are on land where Sailfish has a 2% NSR royalty, which was received as part of the restructuring of the Company’s gold stream on the San Albino gold project. The Stream Restructuring was associated with the merger of Marlin Gold Mining Ltd. and Golden Reign Resources Ltd., which created Mako in 2018. Prior to the Stream Restructuring, Sailfish did not have a royalty over the Las Conchitas area and other exploration targets currently being drilled by Mako.”
            “Mako also provided an update on construction financing for the San Albino project.”

            “(EXK) Endeavour Silver Corp. reported that the El Compas mine achieved commercial production on March 16, 2019. Sailfish has a 1.5% NSR on the majority of the concessions, including those hosting the primary deposit at El Compass, and started receiving royalty payments in January 2019.”

            http://www.sailfishroyalty.com/news%20PDFs/2019/2019.05.07_NR.pdf

          • On August 7, 2019 at 12:23 pm,
            Matthew says:

            Interesting stuff. You sure track a lot of companies!

          • On August 7, 2019 at 12:45 pm,
            Excelsior says:

            I probably am holding too many, and keep trying to divest and consolidate, but then I find more interesting stories, and just buy a tracking position in many of these so I don’t loose track of them.

            Some people track sports statistics or political stats….. I find my self tracking mining companies. (nerdy I know….) 🙂

  9. On August 7, 2019 at 10:12 am,
    Excelsior says:

    Gundlach: Gold should keep rising if negative-yielding debt keeps growing

    Julia La Roche – Yahoo Finance

    “Prominent bond investor Jeffrey Gundlach, the CEO of $140 billion DoubleLine Capital, nailed his bullish gold call from September 2018, and now he sees further upside for the yellow metal as the supply of negative-yielding bonds balloons.”

    “At this point, I think the way to think about it is, as long as the volume of negative interest rate bonds outstanding increases, it’s quite likely that gold moves higher in a similar vein,” Gundlach told Yahoo Finance in an interview on Tuesday evening.

    “We are now, I think it’s today or yesterday over $15 trillion of global debt is at a negative yield. And the US bond market is being dragged to lower yields by a combination of the race to ever more negative yields in parts of the developed world, and by weak economic data,” Gundlach said.

    “With that backdrop, there’s been a direct correlation between the volume of negative-yielding bonds in the world and the dollar price of gold that’s moved up very much in sync, with very little divergence along the way.”

    “[If] this pace of negative-yielding bonds continues with this kind of linear track, then gold should go another 20% higher, if that happens. So, the initial target for gold was $1,400. We finally took that out. Now, I think the target is probably something in the $1,600 to $1,700 category. As long as the trends that are behind all this continue,” Gundlach said.

    https://www.yahoo.com/finance/news/doubleline-jeffrey-gundlach-on-gold-negative-yield-debt-152653602.html

  10. On August 7, 2019 at 10:35 am,
    Matthew says:

    The old “good cop, bad cop” routine:

    Former Fed leaders fight Trump’s attempts to influence central bank
    https://www.washingtonexaminer.com/news/former-fed-leaders-fight-trumps-attempts-to-influence-central-bank

    I wonder how many people are aware of the fact that those behind the creation of the Fed pretended publicly to be opposed to it in the years before the Federal Reserve Act was forced through congress.

    • On August 7, 2019 at 10:58 am,
      OOTB Jerry says:

      Good one………Central Bank(s)……needs a Jubilee……..

  11. On August 7, 2019 at 10:45 am,
    Silverdollar says:

    Doc:
    If you’re out there, you may like the position of the BB’s on the MUX monthly!

    • On August 7, 2019 at 11:05 am,
      Excelsior says:

      Good point Silverdollar. I’ve been enjoying the ride up in MUX!

    • On August 7, 2019 at 7:17 pm,
      RICHARD/DOC says:

      Silver, thanks for the comment—just today, I purchased some MUX for the first time in a long time—interesting you commented on that. I hope it is serendipitous. i’m getting a little careful now since we’ve had a nice run and a lot of stocks did not respond to the lift off today. I believe the $1525-$1550 area could be a hard nut to crack for awhile.

  12. On August 7, 2019 at 11:07 am,
    Excelsior says:

    Trevali Reports Second Quarter Results Record Quarterly Zinc Production

    >Record quarterly Zinc production of 105.2 million payable pounds. Annual production trending to the high-end of 2019 guidance, with opportunities to exceed.
    > Operating efficiencies delivered meaningful cost improvements. Costs outperformed expectations with 9% quarterly reduction of C1 Cash Cost1, offsetting increases in smelting & refining charges. Maintaining 2019 C1 Cash Cost1 and AISC1 guidance, trending towards the middle of previously guided ranges.
    > Rosh Pinah 2.0 internal study completed and advancing to next phase; indicating potential for strong IRR and up to 50% increase in output.
    > Net debt reduced by $26.9 million during the quarter. Continue to maintain a strong balance sheet with net debt reduced to $34.8 million at June 30, 2019.

    https://www.juniorminingnetwork.com/junior-miner-news/press-releases/352-tsx/tv/65302-trevali-reports-second-quarter-results-record-quarterly-zinc-production.html?utm_source=newsletter_631&utm_medium=email&utm_campaign=junior-mining-news-for-date-b-j-y

  13. On August 7, 2019 at 12:42 pm,
    Excelsior says:

    (ANX) (ANXGF) Anaconda Mining Reports Financial Results for the Second Quarter and First Half of 2019

    by @newswire on 2 Aug 2019

    https://ceo.ca/@newswire/anaconda-mining-reports-financial-results-for-the-second

  14. On August 7, 2019 at 12:49 pm,
    OOTB Jerry says:

    Just could not contain themselves………just had to push it back down under $1500…

    • On August 7, 2019 at 3:04 pm,
      Excelsior says:

      Gold is still above $1500 – Currently at $1519 and up over 2% on the day.

      GC1:COM 1st ‘GC’ Future
      $1,519.60 USD/t oz. +35.40 gain +2.39%

      https://www.bloomberg.com/quote/GC1:COM

      • On August 7, 2019 at 3:16 pm,
        Excelsior says:

        The #Gold #Chart shows just how strong this next leg of the Bull market has been since it broke out above the 2016 high of $1377 from the initial leg up. Very solid price action, closing at $1519.60 (the highest level in 6 years).

        This should be a real shot in the arm to Gold producers and the economics of development-stage projects.

        http://schrts.co/GJVtrRVb

  15. On August 7, 2019 at 3:23 pm,
    irishtony says:

    SORRY just had to drop this in here………..
    CORZINE….Enteres the pay to play game once again.
    The question is …..Who is he paying ?
    https://www.zerohedge.com/news/2019-08-06/corzines-hedge-fund-granted-sec-registration-warned-stay-away-illiquid-securities

    • On August 7, 2019 at 4:09 pm,
      Ozibatla says:

      Silver apparently logged its biggest one day gain since 2016 when it shot over $20 briefly. I would love to see gold hold in the low 1500s for a week or 2 now whilst silver catches up and hopefully can grab the $18 handle.

      Ive always maintained that I was not going to get carried away with golds latest move if until it could reach the previous bull market resistance area of $1520-$1530. We are virtually there now with Decembe futures hitting $1520. I am now on board with this current gold bull. I hope it can sustain itself for the mid to long term. Current strength indicators suggest it will but I guess theres no such thing as a sure thing.

    • On August 7, 2019 at 4:37 pm,
      OOTB Jerry says:

      Another Freaking CON MAN……I can not believe anyone could be stupid enough to give that con man a dime. I bet Gerold Cellenti (sp) will have a lot to say on this one….

      • On August 7, 2019 at 4:42 pm,
        OOTB Jerry says:

        Corslim did manage to stay out of jail……tells you everything you need to know…..inside theft ring…..

        • On August 7, 2019 at 4:44 pm,
          OOTB Jerry says:

          Maybe he will run for Mayor of Baltimore……..after his hedge fund runs out of money.

  16. On August 7, 2019 at 4:05 pm,
    james says:

    GOD ! GOLD ! Is note Mocked ! https://www.youtube.com/watch?v=8-SyjWKNDBw

  17. On August 7, 2019 at 4:14 pm,
    Ozibatla says:

    Just a quick question to all out there: Where do we think gold will get to before a meaningful pause/correction?

    • On August 7, 2019 at 4:25 pm,
      Matthew says:

      My guess is at least 1565-1580 and then a correction that lasts no more than 3 or 4 weeks.

      • On August 7, 2019 at 4:35 pm,
        james says:
      • On August 7, 2019 at 5:17 pm,
        OOTB Jerry says:

        Goldman sakers…….says………$1600…. 🙂
        Of course the alert is out…..CORSLIM IS BACK>>>>>> 🙂

        • On August 7, 2019 at 5:19 pm,
          OOTB Jerry says:

          Hummm…….CFTC…just got a new director….

        • On August 7, 2019 at 5:46 pm,
          Ozibatla says:

          Yeh it never hurts to take a contrarian view on whatever the big banks say. They couldnt lie straight in bed!

      • On August 7, 2019 at 5:51 pm,
        Ozibatla says:

        Your calls of late have been pretty solid matthew so I wouldnt bet against you at this stage. I am a little more cautious in suggesting maybe $1530. Purely based on sentiment within the market. I think with a quick run-up to this figure which also happens to be support for the previous bull in gold could see some profit taking. I tend to think it will be shallow and only last a few weeks like you suggested. Cheers!

        • On August 7, 2019 at 6:34 pm,
          OOTB Jerry says:

          Ditto on Matthews great calls………

          • On August 7, 2019 at 7:16 pm,
            Matthew says:

            Thanks OOTB-J! 🍻

        • On August 7, 2019 at 7:15 pm,
          Matthew says:

          Well you’re right to be cautious. It is completely reasonable to expect a reaction at 1530 and I don’t doubt that we’ll get one. My bet is just that it won’t be the top that results in several weeks without a new high.
          There were definite signs of top-calling today in the miners and the gold miners bearishly lost a lot of their leverage to gold so it will be very interesting to see how the next few days play out. On the other hand, I’m not seeing any euphoria in the silver juniors despite their overbought state. No one is throwing caution to the wind yet and that is a bullish sign. IPT, for example, had plenty of urgent sellers today and based on the action, they did not appear to represent big or smart money.

          Finally, the monthly gold chart looks so good that I could see it dragging gold higher whether any of us like it or not.

          It made it to my dual fork resistance very quickly! Cheers!
          https://stockcharts.com/h-sc/ui?s=%24GOLD&p=W&yr=7&mn=7&dy=0&id=p89632006993&a=638471359

          • On August 8, 2019 at 3:19 am,
            Ozibatla says:

            Nice chart! Side note: If gold makes the same increase in dollar terms in the next 12 months as it has in the last 12 months, that will take it to roughly $1870. Now Im not suggesting this will occur, it just puts into perspective of the gains gold has made in the last year.

    • On August 7, 2019 at 4:25 pm,
      james says:
  18. On August 7, 2019 at 4:44 pm,
    james says:
  19. On August 8, 2019 at 1:27 am,
    monty bissett says:

    Mr Temple every now and then thinks he is the smartest guy in the room. Kind of tacky talking about gold bugs losing 90% of their investments and now down 60%. He sounded like the world was coming to an end. That lasted a few hours. Usually I don’t mind listening to him. Not so much today.

    • On August 8, 2019 at 9:39 pm,
      Matthew says:

      The really funny thing is that the Dow is STILL down 60% vs gold from its 1999 high. Paperbugs are a funny lot!

  20. On August 8, 2019 at 11:30 am,
    Jeremy Lipp says:

    why no comments anymore about corvus?

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