David Erfle - Gold Market Commentary – Tue 13 Aug, 2019

Precious metals now have a buy the dip mentality

With the pushing back of tariffs this morning we have US markets moving higher. What is very encouraging for PM investors is that bother gold and silver, after opening the day lower, are getting bought back. It’s another bull sign of the precious metals however as we point out on the GDX chart a pullback is more than due.

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Comments:
  1. On August 13, 2019 at 12:54 pm,
    cfs says:

    The manipulation downwards started right after Hong Kong closed.
    Volume up, on buy the dip was more noticeable in London than US, So Brits seem more interested in Safety than Americans.

    • On August 13, 2019 at 12:58 pm,
      OOTB Jerry says:

      Paper Crimex……..the usa…..controlled Fed Fraud….manipulate cftc…..What could anyone expect any different…….just a joke……

      • On August 13, 2019 at 1:00 pm,
        OOTB Jerry says:

        Freaking cat is out of the bag and the bag holders are the sheeple to asleep to see what is in front of them…..

        • On August 13, 2019 at 2:37 pm,
          Marty says:

          No one is on vacation , if one’s own / enterprise is involved in markets, best believe they are near some sort of screen most days.

          • On August 13, 2019 at 5:22 pm,
            Excelsior says:

            Agreed Marty. It was true that back in the day before the internet, lap tops, smart phones, tablets – that there was a period in the Summer where investors in New York left to go to the Hamptons and play. That was over 2 decades ago and now being stuck to an office or desk is funny notion.

            With the advent of better technology and the proliferation of online trading platforms since the early 2000’s, anyone can trade from almost anywhere and participate in the markets even while traveling or on vacation.

            Most of the funds have robo-trading and algo-trading going on without much human supervision, so it isn’t like there are a bunch of trader out on the water for weeks at a time that will all come rushing back to their desks and start trading in a few months when they finally get in front of a computer in their office. Those days are long gone…..

            Yes, the volumes are typically lighter in the summer as a seasonal trend (although not always – as the last few weeks demonstrated). Yes people are outside more and have more functions, but it isn’t because the big boys are away from their Wall Street desks though. People’s “desk” is their smartphone now, and it is with them wherever they go, and they are watching all the time.

            Wishing everyone well in their investing whenever and wherever they trade.

  2. On August 13, 2019 at 12:56 pm,
    OOTB Jerry says:

    https://www.zerohedge.com/news/2019-08-13/where-heck-ghislaine-maxwell
    Rule of law in America? Don’t be ridiculous. There are rulers and the ruled. Which bucket do you think you’re in?

    • On August 13, 2019 at 1:14 pm,
      cfs says:

      SWhy do you think I maintained residency capability in UK for so long…..The UK only taxed me while in the UK.
      Unfortunately the US taxes me no matter where I live……But dying in the US is less taxing than in the UK……Unless Pocahontas or Senile Joe get elected.

  3. On August 13, 2019 at 3:18 pm,
    cfs says:

    LOL

  4. On August 13, 2019 at 6:34 pm,
    cfs says:
  5. On August 14, 2019 at 2:48 am,
    Excelsior says:

    (IPT) (ISVLF) IMPACT Silver Closes $554,210 Third and Final Tranche of Financing of $4.95 Million

    12 Aug 2019

    “Impact Silver Corp. is pleased to announce that it has completed its second series of the third and final tranche of the non-brokered private placement, first announced on June 19, 2019, and subsequently updated on July 8, 2019, July 18, 2019, July 25, 2019 and August 6, 2019. At closing of the Third Tranche, the Company received aggregate gross proceeds of $554,209.72 from the issuance of 1,911,068 units of the Company at a price of $0.29 per Unit.”

    https://ceo.ca/@newswire/impact-silver-closes-554210-third-and-final-tranche

  6. On August 14, 2019 at 2:50 am,
    Excelsior says:

    (RNX) (RNKLF) RNC Minerals Announces Filing of Technical Report for Beta Hunt Gold Resource Update

    @newswire – 13 Aug 2019

    – 395% increase in global Measured & Indicated resource to 944 koz

    – 195% increase in global Inferred resource to 406 koz

    – Low discovery cost for Measured and Indicated resource of A$7.30 per oz

    – Beta Hunt Resource update provides solid resource base for integrated Beta Hunt-Higginsville Gold Operations (HGO)

    – Resource definition and exploration focus will now shift to optimizing historical resources near Higginsville Mill

    https://ceo.ca/@newswire/rnc-minerals-announces-filing-of-technical-report-for

    • On August 14, 2019 at 3:06 am,
      Excelsior says:

      (ROXG) (ROGFF) Roxgold Reports Solid Performance in Second Quarter 2018; Record Throughput with Stoping Operations Commencing at Bagassi South

      @newswire on 13 Aug 2019

      – Sold 33,102 ounces of gold1 for a total of $42.9 million in gold sales (35,320 ounces and $45.8 million respectively in Q2 2018) and sold 65,900 ounces of gold for a total of $85.8 million in gold sales1 YTD 2019 (75,370 ounces and $99.0 million respectively YTD Q2 2018);

      – Cash operating cost of $518 per ounce produced and all-in sustaining cost of $836 per ounce sold and $493 per ounce produced and $806 per ounce sold for the three and six-month periods ended June 30, 2019;

      – Operating costs2 of $156 per tonne processed were 22% lower than Q2 2018 as a result of increased throughput and improved efficiencies;

      – Mined 109,840 tonnes and achieved record quarterly throughput of 113,866 tonnes which exceeded increased nameplate capacity of 1,100 tonnes per day by approximately 14%;

      https://ceo.ca/@newswire/roxgold-reports-solid-performance-in-second-quarter

  7. On August 14, 2019 at 6:21 am,
    Marty says:

    AXU is hitting it out of the park with great relative strength.

  8. On August 14, 2019 at 7:10 am,
    Matthew says:

    Huge volume for KTN this week, and there’s more than 2.5 days left…
    https://stockcharts.com/h-sc/ui?s=KTN.V&p=W&yr=3&mn=11&dy=0&id=p51335160436&a=608101183

  9. On August 14, 2019 at 7:18 am,
    Matthew says:
  10. On August 14, 2019 at 7:56 am,
    b says:

    So, was yesterdays drop the crash/correction Bob and Nenner were talking about?

    Or was it simply Trumps tweet? or Hong Kong?

    Personally I think HK and tweets is noise and gold is strong and getting stronger.

    • On August 14, 2019 at 8:21 am,
      Matthew says:

      With respect to gold, I agree that HK and the Tweets are just noise. The same goes for any tariffs/tariff talk.
      Gold will not be derailed by anything but geopolitical stupidity could add to its strength.

      There will always be corrections but this new bull market is here to stay.

      • On August 14, 2019 at 9:00 am,
        b says:

        I agree, this time its a little dif for me, the last few times Ive made coin on PMs it was fast, I think overall this time its going to be slow.

        Sit tight being right is the way to go imo.

        Im not that good of a trader anyway, the advantage is I really dont have to think too much.

        • On August 14, 2019 at 9:30 am,
          Matthew says:

          It might remain slower than what we had in (mean-reverting) 2016 but I wouldn’t rule out some quick gains along the way once there’s a little more recognition that the sector is in a bull market.

          In real terms (vs gold), most gold miners peaked in the spring of 2006, not 2010-11 (interestingly, that was Jeff Kern’s SKI system “death run top”). Today, the gold miners could not look better in real terms and would have to rise 3 or 4 fold vs gold to match that high. That would be something to see since gold will also be rising in dollars and possibly a lot.

          This has been a long time coming but I can say factually/objectively that the long term gold and gold miners charts now show a picture that makes the 2016 technical setup look like trash.

          So you absolutely do not have to be a good or active trader to make a lot of money in this kind of market.

  11. On August 14, 2019 at 8:17 am,
    Marty says:

    Great synopsis concerning NOVO ON 321gold.com – The Hedgeless Horseman TTH

  12. On August 14, 2019 at 8:42 am,
    Matthew says:

    Stewart says “even the best top callers need to use caution in this type of market.” I agree.
    http://www.321gold.com/editorials/thomson_s/thomson_s_081319.html

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