Brien Lundin Commentary – Thu 31 Oct, 2019

What’s Driving Gold and Comments On Gold Juniors

Brien Lundin joins me today for a conversation on the gold market. With gold holding up very well as US markets moved to all time highs and the Fed pausing on rate cuts the overall story for the PMs is encouraging. We discuss what is hold gold in this higher trading rage as well as drive into the juniors and address what it will take have more money flowing in.

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Comments:
  1. On October 31, 2019 at 10:52 am,
    CFS says:

    Classical economic theory says inflation occurs when excess money chases too few goods.

    WHERE IS THE EXCESS MONEY?

    The banks have a liquidity crisis.
    All excess money has already been used in buying stocks and housing.

  2. On October 31, 2019 at 3:50 pm,
    Matthew says:

    This correction appears to be over. If that turns out to be the case, gold reached its low in less than one month and didn’t come close to returning to its breakout area. Countless observers thought that both gold and the miners would go much lower than they did and take months to do so.
    GDXJ:
    https://stockcharts.com/h-sc/ui?s=GDXJ&p=D&yr=1&mn=2&dy=0&id=p74922607600&a=693503017

  3. On October 31, 2019 at 3:59 pm,
    Matthew says:

    Gold has closed above its 50 day MA for the first time in three weeks:
    https://stockcharts.com/h-sc/ui?s=%24GOLD&p=D&yr=1&mn=0&dy=0&id=p81254507940

  4. On October 31, 2019 at 4:01 pm,
    Matthew says:
  5. On October 31, 2019 at 4:12 pm,
    Matthew says:
  6. On October 31, 2019 at 4:16 pm,
    Matthew says:

    Gold is ready to attack (rising) channel resistance in the 1580 area currently:
    https://stockcharts.com/h-sc/ui?s=%24GOLD&p=W&yr=9&mn=9&dy=0&id=p10691675060&a=693559276

  7. On October 31, 2019 at 5:13 pm,
    CFS says:
  8. On October 31, 2019 at 8:09 pm,
    CFS says:

    Nevada Suit Seeks To Protect Rare Wildflower From Mining
    Scott Sonner – Associated Press – Thu Oct 31, 6:21PM CDT

    RENO, Nev. (AP) — Conservationists are suing the Trump administration to try to block mining exploration in Nevada they say would wipe out the only known population of a desert wildflower.

    The Center for Biological Diversity filed an emergency petition with the U.S. Fish and Wildlife Service earlier this month to list Tiehm’s buckwheat as an endangered species.

    The lawsuit accuses the Bureau of Land Management of illegally dividing the mining operations into two separate projects so as to bypass its own regulations requiring a formal environmental review and public comment on any land disturbances larger than 5 acres.

    “The Trump administration is ignoring laws protecting rare species like this beautiful flower to give our public lands away to a mining company,” said Patrick Donnelly, Nevada state director for the center. “It’s wrong for the BLM to allow mining companies to destroy its habitat while other agencies are deciding whether to list the flower as endangered.”

    The delicate wildflower — typically about 2 feet (0.6 meters) tall with white to cream to yellow blooms — plays an integral role in the desert ecosystem by stabilizing soils and dispersing seeds, the lawsuit said.

    The estimated 20,000 to 43,000 individual plants that remain are found only in specific soil conditions on 21 acres spread across 3 square miles (7.8 sq. kilometers) of Nevada in a narrow elevation band between 5,960 and 6,200 feet (1,816 and 1,889 meters), according to the petition filed Oct. 7 seeking protection under the Endangered Species Act.

    “There is only one location of this plant on the planet,” the petition said. “Without ESA protection, the endemic plant is at risk of extinction in the foreseeable future.”

    The lawsuit filed Wednesday in U.S. District Court in Las Vegas says an agency “cannot break a project into small component parts to avoid … the requirement to prepare an environmental impact statement.” It says the two projects combined have the potential to impact a significant amount of the plant’s sensitive habitat.

    BLM lists one of the exploration projects as 4.98 acres (2.01 hectares) and the other as 4.04 (1.63 hectares) acres in the Silver Peak Range in Esmeralda County about 120 miles (193 kilometers) southeast of Reno where a lithium and boron mine is planned.

    Bureau spokesman Rudy Evenson said the agency doesn’t comment on pending litigation. But he said it “takes the protection of this species seriously and is committed to the deliberate process to ensure it is protected.”

    SEND ME SOME SEEDS SO I CAN PLANT IT IN CALIFORNIA, and then maybe the state will stop fires in my area.

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