Jordan Roy-Byrne - Technical Commentary on the Metals – Wed 5 Feb, 2020

Are The US Markets Back To Being Viewed As A Safety Play?

Jordan Roy-Byrne and I balance out the moves high in the US Dollar and US markets. We could be back in a situation similar to 2017 where investors view the US as the strongest economy and markets globally so naturally that is where money continues to flow. However we all agree that a correction is coming and more than overdue. We also touch on the moves into gold, silver and gold stocks over the past 5 months.

Click here to visit Jordan’s site and follow along with what the charts are telling him.

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  1. On February 5, 2020 at 12:12 pm,
    Silverdollar says:

    When sentiments change in these crazy markets and even a 1% shift to PMs and their derivatives happens, it’s going to be some crazy/happy times!

    Another sliver of hope with Romney proving all Republicans aren’t of the same bent! Gutsy position he’s taking but one of principal instead of party! JMO

    • On February 5, 2020 at 1:18 pm,
      Miklo says:

      Are you kidding me? The only reason that SOB did that is that his own son is compromised, together with Kerrys and Pelosis son. They were all up to their necks in dealing with (plundering) Ukraine. Search on duckduck to find out, if you´re not lazy or just trolling.

      I am not even an american but still more informed than you, sir!

      • On February 5, 2020 at 1:36 pm,
        Silverdollar says:

        Hey comrade, you over-doing that vodka again??

        • On February 5, 2020 at 3:24 pm,
          OOTB Jerry says:

          According to web archives, top Mitt Romney adviser Joseph Cofer Black, who publicly goes by “Cofer Black,” joined Burisma’s board of directors while Hunter Biden was also serving on the board.

          According to The New Yorker, Hunter joined Burisma’s board in April of 2014 and remained on it until he declined to renew his position this past May. Meanwhile, according to Burisma’s website, Black was appointed in February of 2017 and continues to serve on its board. The timelines would indicate that Black and Biden worked together at Burisma, and indeed, web archives from late 2017 show Black and Biden listed simultaneously on the board. -The Federalist

          • On February 5, 2020 at 5:20 pm,
            OOTB Jerry says:
          • On February 5, 2020 at 5:21 pm,
            OOTB Jerry says:

            Trump…..Ukraine……..Biden……Kerry…….Romney……..just getting started…IMO

          • On February 5, 2020 at 5:25 pm,
            OOTB Jerry says:

            MITT ROMNEY…………and Uranium One………

        • On February 5, 2020 at 11:49 pm,
          Miklo says:

          Comrade? Excuse, mr ignorant. I´m neither american or russian so cut the crap.
          You use the same lame tactics as your godess Hilary: accuse everyone who don´t agree with you of being a russian agent. How sweet..

          You commies have to know that we know all about your spiritual leader Saul Alinsky and his demoninspired writings.

      • On February 5, 2020 at 1:54 pm,
        OOTB Jerry says:

        I would have to say…….IMO………..Miklo…… spot on with his assessment of Mitt…

        • On February 5, 2020 at 6:52 pm,
          Chartster says:

          Romney is about to be removed from his seat.
          I guess the timeline of Soros getting detained and the offices of Bain Capital being raided will coincide? Yea, coming soon.

          Now that impeachment is over, the Trump team gets to go on offence😏 , game on.
          God speed to Barr and Durham. (Git um, boys)
          The hammer is (finally) soon to drop! Biblical

        • On February 6, 2020 at 9:19 am,
          Miklo says:

          Those who scream the loudest are the ones who have the most to hide.
          Just follow the money.

          Btw, Mormon-Mitt is deep into the drug business. A lot of the high echelons of the CIA are Mormons. Disgusting pigs (sorry pigs for the insult)!

  2. On February 5, 2020 at 12:28 pm,
    Excelsior says:

    Palladium market not a ‘ticking time bomb’: Sibanye CEO
    04 Feb 2020

    “Palladium prices are unlikely to fall dramatically any time soon, with solid supply/demand fundamentals acting as supportive factors for the already elevated price, according to producer Sibanye-Stillwater.”

    “I don’t think it’s a ticking time bomb…the market is in fundamental deficit and there are no real alternatives to substituting it in the short term,” Froneman said. “So I think the price is robust, it may go up some more, it may go down a bit, but I don’t think it will move around much from around these levels.”

    • On February 5, 2020 at 12:36 pm,
      cfs says:

      Platinum is a clear alternative to Palladium, but retooling costs money and time.
      Pt will replace Pd if this price difference holds much longer, but the transition will not be a sharp transition

      • On February 5, 2020 at 12:53 pm,
        Excelsior says:

        Yes, agreed, but that was Neal’s point that there isn’t a replacement any time soon. It will take years to retool, establish new supply agreements, etc… for automakers.

        Platinum is typically used for Diesel, and Palladium is used for Gasoline automobiles.

        Platinum at least has some use as a precious metal in Jewelry, coins, bars, and PM ETFs, so it will likely get rerated higher on that as well as the arbitrage to Palladium.

        From a mining perspective, most PGM deposits have Platinum, Palladium, and Rhodium, just in varying amounts.

        What I like about PGE Group Ten Metals (next door to Sibanye’s Stillwater mine) is that they have a nice amount of all 3 of the PGMs.

        • On February 5, 2020 at 1:55 pm,
          OOTB Jerry says:

          What does it take to retool a muffler……..

          • On February 5, 2020 at 2:00 pm,
            OOTB Jerry says:

            About 85% of palladium ends up in the exhaust systems in cars,

          • On February 5, 2020 at 2:02 pm,
            cfs says:

            The muffler does not contain sheets of palladium metal, but a very thin layer of Palladium
            deposited on a substructure, which is then placed inside the muffler during its construction.

            I assume (but do not know) the equipment for deposition of Pt is different from Pd.

          • On February 5, 2020 at 2:07 pm,
            cfs says:
          • On February 5, 2020 at 2:08 pm,
            OOTB Jerry says:

            As I said……….what is the big deal on switching or retooling…..
            cfs……..I know a little about mufflers…….

          • On February 5, 2020 at 2:17 pm,
            OOTB Jerry says:

            CFS…….wiki info………….read the info in ITEM NO 4
            Which is talking about the COST of Platinum, being higher than palladium….,
            that association of cost is not valid today…..

          • On February 5, 2020 at 2:28 pm,
            cfs says:

            The first catalytic converters were Pt not Pd.
            Then changed to Pd because of cost.
            I’m sure once the stockpile of Pd is used up, they will go back to Pt.

            The basics of construction aren’t much changed over the years.

          • On February 5, 2020 at 2:41 pm,
            OOTB Jerry says:

  ……from the article……..Catalytic converter production requires palladium or platinum;
            So,……….I think it is just cost of the material is the only reason for the usage…not so much retooling
            AND…that is the reason , I think the Sibanye CEO…….might not be totally correct in his assumption…..or statement concerning palladium…….

          • On February 5, 2020 at 4:26 pm,
            Excelsior says:

            Palladium’s Fading Stockpiles Draw Warning of Prolonged Deficit
            By Elena Mazneva and Ranjeetha Pakiam – January 22, 2020

            “As palladium’s record-breaking rally makes guessing the size of stockpiles more important than ever, one thing at least is clear — they’re getting a lot smaller.”

            “Palladium outperformed all major commodities in recent years as carmakers boosted usage in autocatalysts to meet stricter emissions rules. The speed at which prices surged to records this year prompted the market’s trade association to warn that low stockpiles and the unlikelihood of a quick supply response means that the tightness will probably last a while yet.”


          • On February 5, 2020 at 4:27 pm,
            Excelsior says:

            Palladium’s Fading Stockpiles Draw Warning of Prolonged Deficit

            By Elena Mazneva and Ranjeetha Pakiam – January 22, 2020

            “As palladium’s record-breaking rally makes guessing the size of stockpiles more important than ever, one thing at least is clear — they’re getting a lot smaller.”

            “Palladium outperformed all major commodities in recent years as carmakers boosted usage in autocatalysts to meet stricter emissions rules. The speed at which prices surged to records this year prompted the market’s trade association to warn that low stockpiles and the unlikelihood of a quick supply response means that the tightness will probably last a while yet.”


          • On February 5, 2020 at 4:30 pm,
            Excelsior says:

            Whoops. That posted twice. 🙂

          • On February 5, 2020 at 4:33 pm,
            Excelsior says:

            Palladium Surges Again But The Focus Will Soon Shift To Platinum

            Tim Treadgold – Forbes – Jan 19, 2020

            “What’s driving palladium, platinum and rhodium started as a case of genuine shortage because all three have been in supply-deficit for several years as ore bodies get deeper and more expensive to mine or, in the case of South Africa, a breakdown in the country’s electricity grid means deeper mines cannot be worked safely.”

            “But what happens next could be even more interesting because a switch by car makers who cannot source the palladium they prefer for scrubbing the gases produced by gasoline motors will see them shift to platinum which is the preferred metal for diesel engines.”

            “Much bigger moves were recorded by miners with more concentrated exposure to palladium, platinum and rhodium, including Sibanye Stillwater, the owner of the Stillwater platinum mine in the U.S., which rose by 9.7% in 48 hours and the South African focused Northam Platinum was up 4.6%.”


          • On February 5, 2020 at 4:52 pm,
            OOTB Jerry says:

            If, the stock piles are fading…….might be a good time to stock up on the alternatives..
            ever increasing prices, are not good for a manufacturer , trying to rely on a public who’s incomes are falling behind…….Auto prices, are out of line with the average income….
            Just look at the debt clock and check the prices, ….are these guys that stupid, ….

          • On February 5, 2020 at 4:56 pm,
            OOTB Jerry says:

            The second article was a good one………..I am guilty of failing to read the entire article before posting……but, anyway, it seems we are in accord…… 🙂

          • On February 5, 2020 at 5:23 pm,
            Excelsior says:

            Haha! Yes, I thought you’d like that second article OOTB. 😉

            “Whatever the cause, there are early signs emerging of platinum playing catch-up with palladium as car makers are forced to switch, not just because of the palladium price but also because of a worldwide shortage.”

            “Switching between metals has occurred in the past when the price gap gets too wide, triggering a rapid shift in prices as one metal catches up with the other.”

            “This time it might be different because the focus of car makers is being diverted by the shift into politically correct electric vehicles which, in their pure form, do not need the catalytic converters which are a feature of gas and diesel engines.”

          • On February 5, 2020 at 5:30 pm,
            OOTB Jerry says:

            Ahhh………therefore,…….No Ticking Time Bomb……… 🙂

      • On February 5, 2020 at 5:34 pm,
        Excelsior says:

        (PLG) (PTM) Platinum Group Metals – Corporate Presentation Jan 2020

        Advancing the Next Great Palladium Mine

        Waterberg Definitive Feasibility Study (DFS) Results – Next Steps and Outlook for 2020

    • On February 5, 2020 at 5:28 pm,
      Excelsior says:

      (PGE) (PGEZF) Group Ten Drills 399 Meters of Continuous Palladium, Platinum, Gold, Nickel, Copper and Cobalt Mineralization from Surface in the Camp Target Area at Stillwater West

      January 21, 2020

      “The results support that the geophysical (conductive high) in the Camp target area is targeting large bodies of disseminated nickel and copper sulphides that are enriched in palladium, platinum, gold, and cobalt. Rhodium assays are in progress with results pending. The core of this geophysical anomaly has not been systematically drill tested to date, and is one of eight multi-kilometer-scale target areas defined by Group Ten at Stillwater West.”

      Michael Rowley, President and CEO, commented, “We are very pleased to have confirmed and significantly expanded the known extent of bulk tonnage “Platreef-style” PGE-Ni-Cu-Co mineralization at the Camp target area, more than doubling the tested depth from surface to 400 meters, where drilling ended in mineralization. Like the previously released Iron Mountain results, these are some of the longest intervals of mineralization ever encountered in the Stillwater district, and also include several higher grade intervals of more than 40 to 75 meters in widths. Mineralization is hosted within the lower Stillwater Igneous Complex, stratigraphically below the J-M Reef deposit which is now being mined by Sibanye-Stillwater adjacent to Stillwater West.”

  3. On February 5, 2020 at 12:31 pm,
    cfs says:

    Romney position one of principle ! You have to be joking. He’s nothing other than a spoiled brat egotist. He was snubbed by Trump a few years ago and carries a grudge.

    Romney would not recognize a principle if it hit him in the face, in my opinion. He’s like McCain or Collins; a RINO.

  4. On February 5, 2020 at 12:44 pm,
    OOTB Jerry says:

    Romney…….is a JOKE……..

  5. On February 5, 2020 at 1:09 pm,
    cfs says:


    If these are TRUE STATISTICS we are looking at deaths ultimately in the TENS OF MILLIONS.

    • On February 5, 2020 at 2:58 pm,
      bonzo b. says:

      The CCP is lying. Looks like there have been 154K cases and 25K deaths. 1 out of 6 die!
      And the WHO is telling countries not to stop travelers from China from entering. Looks like they want to cull the population of our planet, especially old people who are much more vulnerable. That will save social security…

  6. On February 5, 2020 at 1:13 pm,
    cfs says:

    If death is as implied, by Cytokyne storming, The prophylactic is Vitamin B6

    (Available in sublingual form)
    I am not an M.D.

    • On February 5, 2020 at 2:51 pm,
      bonzo b. says:

      How much B-6 a day? I also take 5 gm of vit C/day, 10K IU of vit D-3/day, 10K IU of vitA/day, zinc, selenium, iodine, L-lysine, and Mg citrate. I am not a doctor but have not had a cold since 2010 or flu since 2004, and I avoid vaccines.

      • On February 5, 2020 at 4:18 pm,
        Matthew says:

        Be careful with L-lysine, it can be hard on your kidneys.

    • On February 5, 2020 at 7:28 pm,
      cfs says:

      FDA says 2 mg is daily requirement.

      I am not an M.D., but I believe excess is urinated out.
      Common B6 pills come 50 to 250 mg from stores.

      Vitamin B-6 Description
      Essential vitamin supports many vital body functions, including nervous and immune system function.* Also plays a part in protein and fat metabolism.*

      What is vitamin B-6?

      Vitamin B-6 is a water-soluble essential vitamin needed by the body for good health.** It can be found in many foods including beans, meat, poultry, fish, some fruits and vegetables and fortified cereals.

      What are the key benefits of Vitamin B-6?

      Required for proper function of the nervous and immune systems*
      Required for formation of hemoglobin, important for carrying oxygen throughout the body*
      Supports enzymes involved in maintaining healthy red blood cells*
      Promotes release of stored energy*
      Supports conversion of stored carbohydrates to maintain healthy glucose metabolism*
      Necessary for the function of more than 100 enzymes involved in protein metabolism*
      Supports synthesis of neurotransmitters such as dopamine and serotonin, and myelin formation*
      Important for conversion of tryptophan into niacin*
      Promotes healthy gene expression*

      I am not an M.D. and this is not medical advice, just information gleaned from multiple sources.

  7. On February 5, 2020 at 2:09 pm,
    irishtony says:

    Trumpmin the White House after been ACQUITTED.

    • On February 5, 2020 at 2:21 pm,
      OOTB Jerry says:

      Funny, you do come up with some good ones……….

      • On February 5, 2020 at 2:28 pm,
        Ebolan says:

        Hey Jerry….if a badger and a coyote can be friends….you gotta wonder why the humans can’t just all get along…as Rodney King said….

        • On February 5, 2020 at 2:46 pm,
          OOTB Jerry says:

          Dang………now that is funny……never seen that before…..what a hoot…..

          • On February 5, 2020 at 6:19 pm,
            Ebolan says:

            What a heart warming video from our friends in the animal kingdom!

            I wonder if OWL will watch it and if so, will it make him cry? It made me cry. 🙂

      • On February 5, 2020 at 2:32 pm,
        Ebolan says:

        And you gotta feel sorry for the poor clueless Buttgoo voter…said this about her vote…

        “It all went right down the toilet is where it all went.”

        If you don’t believe it listen to it or read the subtitles. How sad. She’s a Fececrat who voted for Buttgoo…of course it went right down the toilet!

        • On February 5, 2020 at 3:13 pm,
          OOTB Jerry says:

          Ad ……blocker is on……..but, I can imagine her reaction…….

          • On February 5, 2020 at 3:16 pm,
            OOTB Jerry says:

            Humm……are they allowed to say Buttjig…….is gay……….
            I thought he was a fruit loop…..

  8. On February 5, 2020 at 2:11 pm,
    irishtony says:

    OOOPS….TRUMP in…

  9. On February 5, 2020 at 2:39 pm,
    cfs says:

    The Spanish Flu history.

    Similar Cytokine causing death by mucus drowning.

  10. On February 5, 2020 at 4:52 pm,
    Dick Tracy says:

    Walker River (V.WRR) drills 13.7 m @ 96 g/T ( uncut) at The Lapon Project. Why Uncut? DT

  11. On February 5, 2020 at 5:30 pm,
    Bill says:

    Well stocks look Exactly like stocks in 1999, or real estate in 2007. Tesla stupid move.. people touting day trading and the DJIA up over 1000 pts in 3 days
    Too many signs of a major top to count…A major reversal is likely in process, which maybe be the most severe since late 2018 and quite possibly much worse.
    Gold stocks and all will get crushed. Its over due for a hit….

    • On February 5, 2020 at 6:22 pm,
      Ebolan says:

      Total insanity…and with nearly every month the insanity increases…we are living in Bizarro World. No doubt about it.

  12. On February 5, 2020 at 5:53 pm,
    OOTB Jerry says:

    I do not remember any 400 to 500 pt drops in 99………
    I do remember a lot of up days…..must be old age setting in…lol

  13. On February 5, 2020 at 5:56 pm,
    OOTB Jerry says:

    Now here is another JOKE………………
    US Launches Criminal Probe Into JPMorgan For Gold Price Manipulation

    • On February 5, 2020 at 5:59 pm,
      OOTB Jerry says:

      They only Probe……, they can get their share………..Govt corruption in every area…

    • On February 5, 2020 at 6:08 pm,
      Bill says:

      LOL normal

  14. On February 5, 2020 at 6:05 pm,
    markedtofuture says:

    DEG.AX DGMLF Hemi confirms potential for major discovery

  15. On February 5, 2020 at 6:10 pm,
    Excelsior says:

    (MUX) McEwen Mining Drills 53 g/t Gold Over 6.7 m at Grey Fox

    by @nasdaq on 5 Feb 2020

    Sylvain Guerard, SVP Exploration commented: “New intersections at Whiskey Jack have confirmed high‑grade gold mineralization over significant true widths, including 53 g/t Au over 6.7 m. This intersection is open and offers good potential for the discovery of a new high-grade deposit, that could contribute to the growth of our existing resource at Grey Fox.”

    • On February 5, 2020 at 8:32 pm,
      Excelsior says:

      A High-Growth, Low-Cost Precious Metals Company in North America
      Cambridge House – VRIC #VIDEO Feb 3, 2020

      (USAS) (USA) Americas Gold and Silver Corp. – With the recently acquired and funded heap-leach gold Relief Canyon project in #Nevada, and recently constructed San Rafael Mine in #Mexico at full #production, Americas #Gold and #Silver is an emerging low-cost growth company.

  16. On February 5, 2020 at 6:20 pm,
    Excelsior says:

    (NRN) (NSHRF) Northern Shield – Drilling Commences at Shot Rock Gold Property in Nova Scotia

    by @newswire on 4 Feb 2020

    “We are excited to drill test the Shot Rock Property in Nova Scotia. It was only a little over a year ago that we made the first discovery of LSE gold in Nova Scotia and have spent the past 15 months defining four fluid cells over a 3.5 kilometre strike-length with indications that the system could stretch for over 6 kilometers. The project is located right next to the Trans Canada Highway with access to nearby power and rail. We are excited by the unusually high gold values present at the level of the silica cap, which bodes well for drill testing at depth.”

    • On February 6, 2020 at 7:42 am,
      Excelsior says:

      (PGM) (LRTNF) Pure Gold Drilling Intersects High-Grade Gold Including 33.1 g/t Gold Over 3.4 Metres

      Drilling results highlights:

      24.9 g/t gold over 1.0 metre from drill hole PG19-708;
      34.1 g/t gold over 2.2 metres from drill hole PG19-710; including
      64.6 g/t gold over 1.0 metre;
      33.1 g/t gold over 3.4 metres from drill hole PG19-719; including
      79.4 g/t gold over 1.4 metres;
      13.2 g/t gold over 6.3 metres from drill hole PG19-735; including
      26.3 g/t gold over 2.0 metres.

      “The Pure Gold Red Lake Mine continues to produce significant, high-grade gold drill intercepts and today’s results from areas planned for mining this year highlight local opportunities for mine expansion,” stated Darin Labrenz, President and CEO of Pure Gold. “Similar to the 2018 test mining program where the discovery of a new hanging wall zone resulted in 56% more ounces than predicted, these drill holes have identified both potential extensions to mine stopes and opportunities to test and develop new stopes…. With construction well underway, we look forward to first gold production expected in late 2020.”

      • On February 6, 2020 at 7:47 am,
        Excelsior says:

        Target Price Raised on Red Lake Gold Explorer – (PGM) (LRTNF) Pure Gold Mining

        Streetwise Reports (1/31/20)

        “In a Jan. 28 research note, analyst Ryan Walker reported that Echelon Wealth Partners raised its target price on Pure Gold Mining Inc. (PGM:TSX.V; PUR:LSE) to CA$1.35 per share from CA$1 after updating gold price and forex assumptions in its model on the company. The company’s shares are currently trading at around CA$0.82 per share.”

  17. On February 5, 2020 at 6:23 pm,
    cfs says:

    I am now thinking of using trailing stops on non-mining shares.

    • On February 5, 2020 at 7:16 pm,
      Bill says:

      Prudent I think

  18. On February 5, 2020 at 6:32 pm,
    cfs says:

    Wasn’t it nice to see many Democrats at SOTU wearing the color of surrender—-WHITE.

  19. On February 5, 2020 at 6:36 pm,
    cfs says:

    First the Democrats don’t appear to like planting of tress during POTUS Sotu speech.

  20. On February 5, 2020 at 6:42 pm,
    cfs says:

    New Strzok – Page emails about Seth Rich discovered. Classified.

    Wish they were not classified.

  21. On February 5, 2020 at 8:08 pm,
    cfs says:

    Senator Grassley is beginning to look into Biden’s CORRUPTION.

    PDF of letter asking about use of Government plane for personal use.
    Also PROVES Joe Biden KNEW about Hunter Biden’s business activities.

  22. On February 5, 2020 at 8:25 pm,
    cfs says:
  23. On February 5, 2020 at 8:25 pm,
    buzz says:

    The pendulum swings back to James Comey

  24. On February 5, 2020 at 8:49 pm,
    OOTB Jerry says:
    • On February 5, 2020 at 8:51 pm,
      OOTB Jerry says:

      oops…….only $35 TRILLION…….what’s a couple of trillion…..among friends…….

      • On February 6, 2020 at 6:45 am,
        Wolfster says:

        I obviously have the wrong group of friends.

  25. On February 5, 2020 at 9:41 pm,
    cfs says:
  26. On February 5, 2020 at 10:55 pm,
    Excelsior says:

    Funny quote from newsletter writer @Stateside about the general market rallies in the face of black swan events.


    @stateside – “S&P 500 is headed for a record close, fully erasing the coronavirus-related losses of the past two weeks. Take that jack. Watcha got next? Bombing Iran and getting close to WWIII resulted in record stock prices. A pandemic – yep, record stock prices. Black swans are now uber-bullish for equities.”

    • On February 5, 2020 at 11:00 pm,
      Excelsior says:

      I should clarify that Stateside (Vince Marciano) is more a podcaster that reviews news releases from curated mining companies he follows, and he covers updates on his show sponsors, more so than a newsletter writer. It’s a pretty interesting show to check in on for Jr mining updates.

  27. On February 6, 2020 at 9:55 am,
    cfs says:

    Make NO MISTAKE: IF YOU DIG DEEP, you find SOROS Funding.