The race to cash and bonds again today but what about gold and gold miners?

April 21, 2020

Chris Vermeulen joins me today to share his thoughts on the race to the safe haven assets, bonds and cash. But what about gold and gold stocks. These have been more correlated to the US markets but the charts of the major stocks and gold are still very bullish.

Click here to visit The Technical Traders website and follow along with Chris’s trades.

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    Apr 21, 2020 21:09 PM

    The depression will be shorter-lived than the stock market is predicting, in my opinion.

    It is becoming clear tat asymptomatic spread of CoV-2 is more extensive than people realize.
    i.e. Wile still targeted at older males, it is less lethal, on average than calculated by modelers.
    It is my projection we are only a month away from a general acceptance of just having to live with this new disease. As new more correct model parameters are created, there is no reason for authorities to continue highly restrictive policies.
    Yes, there will be secondary peaks in infected people. Yes, there will be further deaths. But there is a collapsing justification for government violation of people’s rights.

    Apr 21, 2020 21:31 PM
      Apr 21, 2020 21:32 PM

      “Fed Can’t Print Gold”: BofA Calls Gold “Ultimate Store Of Value”, Raises Price Target To $3,000

        Apr 21, 2020 21:18 PM

        Yeah, I saw that forecast out today.

        Gold to Reach $3,000—50% Above Its Record, Bank of America Says

        Elena Mazneva – Bloomberg News

        Analysts including Michael Widmer increased the target from $2,000 previously, as policy makers across the globe unleash vast amounts of fiscal and monetary stimulus to help shore up economies hurt by the coronavirus.

        “As economic output contracts sharply, fiscal outlays surge, and central bank balance sheets double, fiat currencies could come under pressure,” the report said. “Investors will aim for gold.”

        “But beyond traditional gold supply and demand fundamentals, financial repression is back on an extraordinary scale,” the report said.

    Apr 21, 2020 21:49 PM

    You believe anything coming out of BoA or JPMorganChase ?

      Apr 21, 2020 21:51 PM

      He, he, ha, ha………nor do I believe anything out of BILLY GATES lips……..

        Apr 21, 2020 21:52 PM

        You do any more work on the Constitution…..?

          Apr 21, 2020 21:52 PM

          I left you several notes……… 🙂

          Apr 21, 2020 21:53 PM

          I know one thing………BofA……is a whore…for the fed.

            Apr 21, 2020 21:54 PM

            TBTF………..get a revelation………

            Apr 21, 2020 21:23 PM

            All the banks are whores for the FED which is just their Bid Daddy bank…. not unique to BofA, or JPM, or any of them…

            However, the question asked by CFS is the wrong one above. “Do you believe anythings coming out of BofA or JPM?”

            It isn’t a matter of us believing them, but rather 2 key points:

            1) Other generalist investors will see that research, and they will consider the point that Gold is set to move higher

            2) The rationale of the analysts for higher gold prices, due to the insane amount of fiscal and monetary stimulus to help shore up economies hurt by the coronavirus, is sound. This point does not require belief in the bank itself.

            Apr 21, 2020 21:25 PM

            Ditto…….on the comment…..well said……You do the best follow up…. 🙂
            I am going to hire you as my ghost writer….. 🙂

            Apr 21, 2020 21:36 PM

            Thanks for the kind words OOTB.

            Accepted as your ghost writer. I’d like to be paid in disappearing fiat.

            — Casper from Moscow….

            Apr 21, 2020 21:24 PM

            No problem there…………Frank will be sending the contract over shortly….. FFM….
            Sorry, for the delay, I was out touring the estate….. 🙂

        Apr 21, 2020 21:11 PM

        OOTB — Agreed, one has to be careful of anything coming out of the Billuminati.

    Apr 21, 2020 21:06 PM

    Hummm………how is that $15 silver holding up………JPM…..can keep this thing going for ever……as long as silver is not a monetary metal………IMO

      Apr 21, 2020 21:07 PM

      JPM, will have not problem backing up the Crimex…….jmo

        Apr 21, 2020 21:08 PM

        not to no….heck, with free oil……….silver could continue to go down….hummm?

          Apr 21, 2020 21:15 PM

          JUST A NOTE…….April Silver’s Delivery Demands have been completely stagnated with last weeks total Volume reaching 6 with the receipt count still at 23, unchanged from last Wednesday’s total, and still with no Volume up on the board today, leaving us with the adjusted Friday close at $15.237. Silver’s Overall Open Interest, gained another 51 contracts to start off this week’s tally at 141,200 Overnighters waiting for the inevitable increase in price because there is a minimum of 2 trillion reasons for the predicted rise.

    Apr 21, 2020 21:53 PM

    (MXSG) Mexus expects April gold sales to increase by 20% over prior month

    by @nasdaq on 20 Apr 2020

    The increase in sales is a result of the company’s efforts to mine a higher grade of ore in March and early April. In addition, material placed on the heap leach pad is being crushed to 1/2 inch minus versus 3/4 inch minus. Crushing to this size allows for the higher grade ore surfaces to be exposed and for better cyanide penetration. Solution returning to the pond is grading at .63 grams per ton as a result of these efforts.

    “Mexus continues to produce gold and improve upon efficiencies at the mine site. I’m thrilled with progress and what the staff has been able to achieve,” added Mexus CEO, Paul Thompson.

    Apr 21, 2020 21:08 PM

    My generalist advisor who manages a majority of my retirement funds and who has been down on gold forever just recommended I buy GDX.

      Apr 21, 2020 21:21 PM

      Maybe some of the generalists are finally waking up to the value in the PM sector:

      Apr 21, 2020 21:33 PM

      That could be a bearish contrary indicator but I wouldn’t be surprised if it is short term bullish first since the vast majority of retail money has zero exposure. So we could see significantly higher prices before a significant pullback.

        Apr 21, 2020 21:38 PM

        Ride the wave……..

        Apr 21, 2020 21:10 PM

        At one point we do need some generalist investors to start getting tuned in and entering the Precious Metals space.

        If the generalists aren’t going to pay attention to the PMs after all the recent government stimulus and central bankers printing up Trillions more dollars to bail out everyone, then I’m not sure when they ever will get the memo.

        We aren’t seeing “Buy Gold” advertisements and gold commercials every 5 minutes like we were in 2011, so it is okay if some financial advisors start getting interested in the sector.

          Apr 21, 2020 21:14 PM

          I am tuned in……

            Apr 21, 2020 21:15 PM

            The sheeple will not get the memo…….until Silver is past $100 per oz…jmo

            Apr 21, 2020 21:19 PM

            You guys playing stocks , are going to make a fortune……JMO…..Hopefully….and you deserve it…..really…..

            Apr 21, 2020 21:47 PM

            Jerry, I agree. The bag-holder class of investor will get interested much later and is not necessary for prices to go much MUCH higher. What matters most to the price action is what the big money thinks. Dumb money will never have its way unless it agrees with the big money.

            Apr 21, 2020 21:51 PM

            Matthew………You are spot on……jmo…

            Apr 21, 2020 21:15 PM

            Yeah OOTB and Matthew good points, but I consider the funds and advisors part of the big money. I wasn’t talking about the retail herd in my comments above.

            Apr 21, 2020 21:54 PM

            Ex, big-picture bullish developments are often shorter term bearish and that tends to be the case with the average advisor since they tend to act at or near the end of a move (which makes those they advise bag-holders). GDX just doubled in a month and has pulled back modestly in the last week. So, do new buyers push the miners higher before playing bag-holder or do sellers give them all they want right now? I lean toward the former even though I think gold is going lower.

            When I talk about big money, I’m referring to very high net worth players or those controlling their money. Most advisors have nothing to do with big money and those managers controlling pension funds are usually just mainstream CNBC types (food for the sharks).

            Apr 22, 2020 22:38 PM

            That’s a good point Matthew, I guess the people the advisors would be talking to would be more on the retail end and late to the party, often becoming the bag holders and shark food.

            Yeah, I was more encouraged by the half dozen Billionaires that came out bullish on Gold in late 2018 and early 2019, as they are part of the big money crowd, and they were early in the next leg of the uptrend.

          Apr 21, 2020 21:53 PM

          They are still buying the dip along with the New York Fed.

            Apr 21, 2020 21:06 PM

            Buyers of last resort……

    Apr 21, 2020 21:19 PM

    Looks like Sprott has bought into Silv. During previous interviews he said he had missed it.