Chris Temple from The National Investor – Tue 24 Mar, 2020

A historic day, this time to the upside for markets broadly

Chris Temple wraps up today’s editorials by recapping the moves today in US markets, gold and gold miners, and with a couple comments on oil. It was a historic day for US markets and a very good day for gold and silver. As Chris points out this is still a time to be very selective and will continue to be as we move forward.

Click here to visit Chris’s site – The National Investor.

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Comments:
  1. On March 24, 2020 at 3:57 pm,
    OOTB Jerry says:

    Demwhits…….do not want Trumpster to win……..keep that in mind.
    We will have a BIG REALLY BIG DEPRESSION…. coming..
    NO JOB…..NO investing…..
    Entertainment…….is history…….
    Autos……..what a hoot…..been saying for years….THE BENZ crowd does not have $400 in their pocket. Rent and turn in at end of lease, and still owe more than the car is worth…

  2. On March 24, 2020 at 4:06 pm,
    OOTB Jerry says:

    I agree with CT………on the OIL………Cory, oil is always going to be a problem..for the sheeple investor.

  3. On March 24, 2020 at 4:12 pm,
    irishtony says:

    Good interview, Cory & Chris.

  4. On March 24, 2020 at 4:15 pm,
    irishtony says:

    Good interview…Cory & Chris.

    • On March 24, 2020 at 4:26 pm,
      OOTB Jerry says:

      I left you a note on your toilet paper problem……..

  5. On March 24, 2020 at 4:48 pm,
    OOTB Jerry says:
    • On March 24, 2020 at 4:50 pm,
      OOTB Jerry says:

      “The London gold market continues to be open for business. There has, however, been some impact on liquidity arising from price volatility in Comex 100-oz [ounce] futures contracts. LBMA has offered its support to CME Group to facilitate physical delivery in New York and is working closely with Comex and other key stakeholders to ensure the efficient running of the global gold market.”

      • On March 24, 2020 at 4:52 pm,
        OOTB Jerry says:

        I know someone has read and posted in other area……….just bring the news forward.

    • On March 24, 2020 at 7:48 pm,
      Excelsior says:

      Thanks for posting that recap article OOTB of the divergence of the Futures prices versus the Spot prices in Gold. Last night into early morning this caused so many wild discussions over at ceo.ca where the spot chart folks were not keeping up with the futures chart folks. Also it looks like the spot gold price got whacked twice today, much harder than the futures contracts did, so there is quite divergence in price.

      I was the only one posting on the KER from 2am-5am yesterday when this was really getting heated up and when the divergence was growing, but when those following spot price saw some of the high ticks in Gold being reported in the $1670’s and $1680s, they didn’t believe them because when they looked at their spot gold charts off Kitco they were only seeing Gold in the $1630’s.

      Again, it bears repeating that most of the world markets, institutional investors, technicians, and traders use the futures contracts, and not the spot prices. I do feel for those trying to purchased bullion and for the dealers, as the pricing mechanism is not keeping up with the futures prices, and yes, as mentioned on yesterday’s Mr T blog – the London fix being broken (since it was closed) is what took off the shackles that normally keep a lid on the accepted physical price with their bizarre “settlement” of the London fix – the price banks want you to use.

      In a way this breakdown in physical pricing, and the divergence with the futures prices that shows just how high Gold is climbing is actually a good thing and points out the insane ways Gold price discovery has been going on for so long.

      Add into that the lack of physical available and nosebleed premiums over spot that dealers are charging and it is only illustrating how broken the phyiscal to paper markets have become. This is one of the signs many have been looking for as evidence of the turning. 1) little physical supply 2) insanely high premiums relative to spot 3) the divergence of futures prices to spot when the liquidity crunch hits 4) Gold moving up on financial chaos — like a Trillion dollar stimulus bill & the FED monetizing corporate bonds, mortgage backed securities, and QE to Infinity.

      For those that want to follow the futures price in Gold, here is the real-time chart:

      https://www.investing.com/commodities/gold

      • On March 24, 2020 at 9:46 pm,
        Excelsior says:

        For those that want to see all the active Commodity Futures contracts in real time:

        https://www.investing.com/commodities/real-time-futures

      • On March 25, 2020 at 7:03 am,
        OOTB Jerry says:

        Thanks for the thought………and THANKS FOR POSTING THE OUTLINE…….
        I Thought is was a BIG DEAL…….and posted as such…, and as you said.
        There was only ONE POSTING, because I went to bed early…..:)

        • On March 25, 2020 at 7:04 am,
          OOTB Jerry says:

          BTW………..I will say it again……KItCO stinks……… 🙂
          I think they are part of the Scam……..jmo

          • On March 25, 2020 at 7:06 am,
            OOTB Jerry says:

            Or at least CONTRIBUTE to the SCAM……..really is FALSE REPORTING…..ima…

  6. On March 24, 2020 at 4:56 pm,
    Ozibatla says:

    Delivery on PMs is a real problem at the moment with such high demand coupled with the logistical nightmare of a global shutdown. A tight squeeze is developing. Once people are entitled to return to normal life, we may get a strong reversal in PMs price. Who knows when this is though. The spanner in the works is the overall sentiment of fear within global markets that is spread throughout all sectors.

  7. On March 24, 2020 at 5:11 pm,
    OOTB Jerry says:

    We are going to need more toilet paper…………..
    Speaking at Tuesday’s White House coronavirus task force briefing, Director of the U.S. National Economic Council Larry Kudlow specifically said the new coronavirus bill working its way through congressional gridlock would total $6 trillion: $4 trillion in liquidity from the Federal Reserve and $2 trillion in new money. Typical annual appropriations from Congress in a given fiscal year are around $1.2-4 trillion, with total expenditures roughly $4.3 trillion.

    • On March 24, 2020 at 5:12 pm,
      OOTB Jerry says:

      SIX…. YES……… $6 TRILLION…………..Hello…………

      • On March 24, 2020 at 5:14 pm,
        OOTB Jerry says:

        I guarantee you 50 % of the sheeple…………do not know how many zeros are in a TRILLION…

        • On March 24, 2020 at 11:24 pm,
          Excelsior says:

          $2 Trillion Stimulus package #debt + $4 Trillion in lending through the #FED with their “new” superpowers of #QEtoInfinity. What is a few Trillion $ amongst friends though right?

          These wise puppet-masters are trying to inflate their way out of a deflationary implosion…. What could possibly go wrong? Doesn’t it make you feel good about the strength of the US #Dollar?

          Oh yeah…. BTW #Gold & #Silver and most commodities were up bigly today 😉

          • On March 25, 2020 at 1:14 am,
            Excelsior says:

            Ah…. here we are. Margins are being raised on Gold just like the last time it really went on a run in the last cycle… and thus, they discourage buying gold, and massage the price rise through the policy change.

            ________________________________________________________________________

            Gold Margin Changes By CME Since 2009

            Tue Mar 24, 2020

            “the world’s largest commodities exchange, raised margins for Comex 100 Gold Futures contracts by 19.3% on Tuesday.”

            “The exchange operator raised Comex 100 Gold Futures maintenance margins to $8,350 per contract from $7,000.”

            https://uk.mobile.reuters.com/article/amp/idUKKBN21B3FT

    • On March 24, 2020 at 5:16 pm,
      OOTB Jerry says:
  8. On March 24, 2020 at 5:34 pm,
    OOTB Jerry says:

    Does anyone remember the Golden Angel with the hammer…….that Sinclair use to have on his web site, when gold was at $1625……….was years ago…..The angel, was pulling gold higher…..all the way to $1950……We are at that same point…….
    Memory Lane….. 🙂
    Well, close to it anyway…..
    https://www.jsmineset.com/2012/02/21/the-golden-angels/

    • On March 24, 2020 at 6:17 pm,
      OOTB Jerry says:

      $1702.60……….number to remember…………

  9. On March 24, 2020 at 5:51 pm,
    cfs says:
    • On March 24, 2020 at 6:22 pm,
      OOTB Jerry says:

      CME………….is a corrupt organization………that is A FACT…….

  10. On March 24, 2020 at 5:57 pm,
    Temple says:

    The fallback/force majeure provision has always been payment-in-kind.

  11. On March 24, 2020 at 6:08 pm,
    cfs says:

    This will be FTD and settlement in cash.

  12. On March 24, 2020 at 6:10 pm,
    cfs says:

    Next month in silver is the real problem and JPM cornered the physical.
    Short of Jamie in jail, they won’t give up the potential profit.

  13. On March 24, 2020 at 6:20 pm,
    OOTB Jerry says:

    Bid ask…on GOLD……..was at a $25 spread……….biggest I have ever seen…..just a note

    • On March 24, 2020 at 6:25 pm,
      cfs says:

      It’s about time people stood for delivery.

      I haven’t looked at the platinum spread, but that should be huge.

      • On March 24, 2020 at 6:38 pm,
        OOTB Jerry says:

        I agree on…people should stand for delivery……
        I have put platinum on the back burner…..the economy is so screwed up, platinum does not know what to do with itself .

        • On March 25, 2020 at 5:55 am,
          David says:

          Not sure we can get the right crowd to stand for delivery. There are those that “play” the paper market for the play and not the metals. There are those that want the physical and know the paper market is rigged in favor of the commercials and will get their physical in other ways.

  14. On March 24, 2020 at 6:31 pm,
    markedtofuture says:
    • On March 24, 2020 at 6:36 pm,
      cfs says:

      What good does a wealth fund do?
      Where does the money come from ?
      What is the difference between printing money to pay social security and printing money to put in a fund ?

      • On March 25, 2020 at 6:02 am,
        David says:

        Sounds like a “wealth fund” might be another way of saying fabricated printed money. End the contributory system by individuals and companies/corporations, then print the wealth fund, then hyper inflate those funds, get the burden of the fund off politicians and corporations by taking the dollar to zero. Problem solved with the people having nothing and the politicians/corporations being obligated for nothing. Just speculation on my part.

      • On March 25, 2020 at 6:07 am,
        David says:

        Ex;
        You nailed it. Round em up and move them out…

  15. On March 24, 2020 at 6:33 pm,
    cfs says:
  16. On March 24, 2020 at 8:15 pm,
    cfs says:

    covid deaths:
    Italy 6,820
    China 3,281
    Spain 2991
    Iran 1,934
    France 1,100
    USA 787
    UK 422

  17. On March 24, 2020 at 10:03 pm,
    Excelsior says:

    On a brighter note…. another solid Green day in the Silver Producers today:

    Symbol – Silver Producers – Daily Change %

    PAAS Pan American Silver Corp. +23.46%
    FSM Fortuna Silver Mines Inc. +21.98%
    GGD.TO GoGold Resources Inc. +21.43%
    SVM Silvercorp Metals Inc. +21.30%
    AG First Majestic Silver Corp. +20.50%
    SSRM SSR Mining Inc. +19.82%
    SBR.TO Silver Bear Resources Plc +19.05%
    GPL Great Panther Mining Limited +18.82%
    HOC.L Hochschild Mining plc +18.02%
    FRES.L Fresnillo Plc +17.23%
    CDE Coeur Mining, Inc. +16.98%
    SCZ.V Santacruz Silver Mining Ltd. +16.67%
    IPT.V IMPACT Silver Corp. +16.42%
    SMTS Sierra Metals Inc. +14.57%
    HL Hecla Mining Company +13.11%
    ASM Avino Silver & Gold Mines Ltd. +11.31%
    EXK Endeavour Silver Corp. +10.85%
    USAS Americas Gold and Silver Corporation +9.68%
    MYA.TO Maya Gold and Silver Inc. +7.84%
    EXN.TO Excellon Resources Inc. +3.77%

    • On March 24, 2020 at 10:10 pm,
      Excelsior says:

      Symbol – #Silver #Developers & #Explorers – Daily Change %

      PSL.V Prospero Silver Corp. +50.00%
      DEF.V Defiance Silver Corp. +46.67%
      ISLV International Silver, Inc. +40.00%
      BBB.V Brixton Metals Corporation +33.33%
      ABRA.V AbraPlata Resource Corp. +27.27%
      REX.V Orex Minerals Inc. +27.27%
      VIPR.V Silver Viper Minerals Corp. +26.09%
      AZS.V Arizona Silver Exploration Inc. +25.93%
      SVE.V Silver One Resources Inc. +22.92%
      AUN.V Aurcana Corporation +21.95%
      KTN.V Kootenay Silver Inc +20.69%
      VML.V Viscount Mining Corp. +20.00%
      SPD.V Silver Predator Corp. +20.00%
      CLZ.V Canasil Resources Inc. +20.00%
      DV.V Dolly Varden Silver Corporation +18.18%
      SIL.TO SilverCrest Metals Inc. +17.57%
      AUU.V Aura Resources Inc. +16.67%
      SSE.V Silver Spruce Resources Inc. +16.67%
      GGX.V GGX Gold Corp. +16.67%
      IVR.AX Investigator Resources Limited +16.67%
      NUAG.V New Pacific Metals Corp. +16.05%
      MAG.TO MAG Silver Corp. +15.65%
      AAG.V Aftermath Silver Ltd. +15.38%
      CD.V Cantex Mine Development Corp. +15.22%
      MMG.V Metallic Minerals Corp. +14.29%
      AUMN Golden Minerals Company +13.47%
      SSV.V Southern Silver Exploration Corp. +12.50%
      VZLA.V Vizsla Resources Corp. +12.28%
      SNG.V Silver Range Resources Ltd. +11.76%
      JAX.V Jaxon Mining Inc. +11.11%
      MTR.L Metal Tiger plc +10.59%
      SVL.AX Silver Mines Limited +9.72%
      MSV.TO Minco Silver Corporation +9.09%
      DSV.V Discovery Metals Corp. +8.45%
      GRSL.V GR Silver Mining Ltd. +7.69%
      BCM.V Bear Creek Mining Corporation +6.43%
      CCW.V Canada Cobalt Works Inc. +4.92%
      AXU Alexco Resource Corp. +3.62%
      UFO.L Alien Metals Limited +2.10%

  18. On March 24, 2020 at 11:39 pm,
    Excelsior says:

    Symbol – #Gold Major #Producers – Daily Change %

    AU AngloGold Ashanti Limited +20.91%
    GFI Gold Fields Limited +16.92%
    POLY.L Polymetal International plc +16.62%
    AEM Agnico Eagle Mines Limited +16.46%
    KGC Kinross Gold Corporation +15.19%
    GOLD Barrick Gold Corporation +15.18%
    KL Kirkland Lake Gold Ltd. +14.85%
    AUY Yamana Gold Inc. +14.29%
    NEM Newmont Corporation +14.02%
    HMY Harmony Gold Mining Company Limited +9.17%
    NCM.AX Newcrest Mining Limited +6.90%

    • On March 24, 2020 at 11:43 pm,
      Excelsior says:

      Symbol – #Gold Mid-Tier #Producers – Daily Change %

      CXB.TO Calibre Mining Corp. +27.27%
      PRU.TO Perseus Mining Limited +24.62%
      RSG.AX Resolute Mining Limited +22.22%
      MUX McEwen Mining Inc. +21.99%
      ASR.TO Alacer Gold Corp. +20.21%
      TGZ.TO Teranga Gold Corporation +20.07%
      SSRM SSR Mining Inc. +19.82%
      NGD New Gold Inc. +19.34%
      CEE.TO Centamin plc +18.65%
      EDV.TO Endeavour Mining Corporation +18.35%
      SMF.TO SEMAFO Inc. +15.88%
      CGG.TO China Gold International Resources Corp. Ltd. +15.38%
      DRD DRDGOLD Limited +15.15%
      HGM.L Highland Gold Mining Limited +14.82%
      EQX Equinox Gold Corp. +13.34%
      EGO Eldorado Gold Corporation +13.17%
      TXG.TO Torex Gold Resources Inc. +12.17%
      AGI Alamos Gold Inc. +11.66%
      BTG B2Gold Corp. +11.33%
      AKG Asanko Gold Inc. +11.33%
      DNG.TO Dynacor Gold Mines Inc. +11.32%
      GCM.TO Gran Colombia Gold Corp. +11.20%
      KNT.V K92 Mining Inc. +10.92%
      EVN.AX Evolution Mining Limited +10.30%
      KOZAL.IS Koza Altin Isletmeleri A.S. +9.97%
      ORV.TO Orvana Minerals Corp. +9.68%
      DPM.TO Dundee Precious Metals Inc. +9.65%
      SBM.AX St Barbara Limited +8.25%
      AR.TO Argonaut Gold Inc. +7.84%
      SLR.AX Silver Lake Resources Limited +7.42%
      CG.TO Centerra Gold Inc. +7.36%
      ROXG.TO Roxgold Inc. +7.25%
      MML.AX Medusa Mining Limited +6.93%
      POG.L Petropavlovsk PLC +6.19%
      MND.TO Mandalay Resources Corporation +6.06%
      OGC.TO OceanaGold Corporation +5.83%
      PVG Pretium Resources Inc. +5.81%
      NST.AX Northern Star Resources Limited +5.30%
      RMS.AX Ramelius Resources Limited +5.24%
      IAG IAMGOLD Corporation +4.95%
      PNR.AX Pantoro Limited +4.88%
      RRL.AX Regis Resources Limited +4.43%
      SAR.AX Saracen Mineral Holdings Limited +4.29%
      TMR.TO TMAC Resources Inc. +1.85%
      GUY.TO Guyana Goldfields Inc. +1.69%
      1818.HK Zhaojin Mining Industry Company Limited +1.30%

      • On March 24, 2020 at 11:58 pm,
        Excelsior says:

        Symbol – #Gold Small #Producers – Daily Change %

        SBI.TO Serabi Gold plc +28.00%
        RNX.TO Royal Nickel Corporation +26.53%
        NIM.V Nicola Mining Inc. +25.00%
        ALO Alio Gold Inc. +25.00%
        PRX.AX Prodigy Gold NL +23.33%
        CAL.TO Caledonia Mining Corporation Plc +21.53%
        GGD.TO GoGold Resources Inc. +21.43%
        WDO.TO Wesdome Gold Mines Ltd. +20.76%
        ANX.TO Anaconda Mining Inc. +17.24%
        ALTN.L Altyn Plc +15.38%
        PG.TO Premier Gold Mines Limited +15.31%
        JAG.TO Jaguar Mining Inc. +15.15%
        IGO.AX IGO Limited +14.06%
        SHG.L Shanta Gold Limited +13.51%
        GG.V Galane Gold Ltd. +13.33%
        AMI.AX Aurelia Metals Limited +12.50%
        GORO Gold Resource Corporation +11.42%
        BLK.AX Blackham Resources Limited +11.11%
        GSS Golden Star Resources Ltd. +10.57%
        HRT.TO Harte Gold Corp. +10.53%
        F.V Fiore Gold Ltd. +9.52%
        TRY.AX Troy Resources Limited +9.37%
        GXS.V Goldsource Mines Inc. +9.09%
        SAU.AX Southern Gold Limited +8.70%
        ALK.AX Alkane Resources Limited +6.09%
        HAV.AX Havilah Resources Limited +4.17%
        ORA.TO Aura Minerals Inc. +4.17%
        SFR.AX Sandfire Resources Limited +3.46%
        RED.AX Red 5 Limited +2.17%
        MTL.L Metals Exploration plc +1.10%

  19. On March 25, 2020 at 12:22 am,
    Excelsior says:

    White House, Senators Strike Stimulus Deal: Congress Update

    March 24, 2020 – Josh Wingrove and Laura Litvan

    “The White House reached a deal with Senate Democrats and Republicans on a $2 trillion stimulus plan to respond to the economic shock of the coronavirus outbreak after several days of tense negotiations, according to two people familiar with the talks.”

    “Details weren’t released but negotiators were working on a package that includes billions in assistance to companies and states and cities; checks to most Americans, loans and aid for small businesses to maintain their payrolls, more expansive unemployment insurance, deferrals of taxes, and numerous other provisions.”

    “The Senate could vote as soon as Wednesday.”

    https://www.bloomberg.com/news/articles/2020-03-24/senate-haggles-over-virus-relief-bill-congress-update

    • On March 25, 2020 at 12:41 am,
      Excelsior says:

      Ah people are already gearing up for the New World Order… Globalist goons will be thrilled the people are walking right into their trap.

      In the end the people will beg for their New World Order, out of fear.

      It’s classic “Problem, Reaction, Solution” at play.

      ______________________________________________________________________

      World will need new financial system after Covid-19
      We need to avoid putting current system back together with sticking plaster

      about 6 hours ago – David McWilliams, Joe Lynam

      https://www.irishtimes.com/opinion/world-will-need-new-financial-system-after-covid-19-1.4211363

  20. On March 25, 2020 at 8:28 am,
    OOTB Jerry says:

    EX………..I left you a note on the next section…….THANKS…..