David Erfle - Gold Market Commentary – Tue 23 Jun, 2020

Chinese companies are leading the M&A in smaller metals stocks

Dave Erfle wraps up our daily editorials today for a focused look at the new uptrend in gold stocks. We also discuss the moves by Chinese companies that are starting to acquire smaller precious metals stocks. This is a good time to be an investor in precious metals stocks but you still have to be aware of what is outperforming.

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Comments:
  1. On June 23, 2020 at 7:53 pm,
    Matthew says:
  2. On June 23, 2020 at 8:56 pm,
    SilverDollar says:

    .Good listen Cory. Thanks. It certainly does feel like we’re on the threshold of something big in the near term…………! Loved what happened to Dolly Varden today.

  3. On June 23, 2020 at 9:13 pm,
    Matthew says:

    IPT has more than tripled since the March low and will probably more than triple again before the year is over…
    https://stockcharts.com/h-sc/ui?s=IPT.V&p=W&yr=6&mn=11&dy=0&id=p38604383951&a=544288722

  4. On June 23, 2020 at 9:18 pm,
    Matthew says:

    It will be great if SLV can finish the week above 17.10 (I think the odds are very good that it will)…
    https://stockcharts.com/h-sc/ui?s=SLV&p=W&yr=6&mn=0&dy=0&id=p69840310068&a=727972963

  5. On June 23, 2020 at 9:55 pm,
    Matthew says:
  6. On June 23, 2020 at 10:00 pm,
    Matthew says:
  7. On June 23, 2020 at 10:03 pm,
    Matthew says:
  8. On June 24, 2020 at 6:00 am,
    Wolfster says:

    Well those were great drill results for Vizsla. Too bad silver is selling off again. Couldn’t get the perfect storm

    • On June 24, 2020 at 6:43 am,
      Matthew says:

      I think silver will be fine and fine soon. SLV just filled most of its Monday gap and that’s a good thing to get out of the way so quickly and painlessly. It’s almost like silver is being manipulated for the benefit of the bulls.πŸ˜‰
      https://stockcharts.com/h-sc/ui?s=SLV&p=D&yr=0&mn=3&dy=0&id=p08424391829

      • On June 24, 2020 at 7:06 am,
        Wolfster says:

        No disagreement there. I was just talking about today.

        • On June 24, 2020 at 1:27 pm,
          David says:

          Todays action in silver could have something to do with upcoming options expiration and the banks need to maximize profits. It is not as if they don’t know in advance where the price should fall to nullify the maximum options.

  9. On June 24, 2020 at 6:55 am,
    OOTB Jerry says:

    Everything is going to be fine…with gold and silver and pm stocks………stick to the plan………accumulate and do not be late…. this is the sweet spot…..going higher…. πŸ™‚
    Rant of the Day…. πŸ™‚

  10. On June 24, 2020 at 7:10 am,
    Blue says:

    Hi Matthew!
    What do you think about Axu in the near term now that they recieved their water permitt and are going to production?

    https://www.alexcoresource.com/news/2020/alexco-moves-forward-to-production-at-keno-hill/

    • On June 24, 2020 at 8:03 am,
      Matthew says:

      Blue, AXU looks pretty good despite the $20 million financing that was just announced and the timing of such dilution is probably perfect since I think silver is going to do very well for the next several months. It is also very nice that the offering is being done essentially at the current market price and not a big discount. Today’s low was one cent above the 2.73 offering the shares issued will have the usual 4 months and a day hold on them once the deal is done so the share float won’t grow during the silver run that I believe is starting now.
      https://stockcharts.com/h-sc/ui?s=AXU.TO&p=D&yr=0&mn=11&dy=0&id=p16778209577

  11. On June 24, 2020 at 7:29 am,
    OOTB Jerry says:

    Good article ………..for silver lovers…..couple of reasons for stalled price.
    https://www.zerohedge.com/news/2020-06-23/waiting-comex-silver

    • On June 24, 2020 at 7:30 am,
      OOTB Jerry says:

      But why is COMEX silver lagging this week, and why will it soon begin a new rally? Three reasons:

      β€’ The current front month is the Jul20. Option expiration for this contract is this Thursday, and a clearly delineated “sweet spot” can be found near $18.

      β€’ The contract itself goes off the board next Monday and into “delivery” the following day. As of Monday the 22nd, there were still nearly 60,000 contracts left open, with most needing to be rolled into the Sep20 or the Dec20.

      β€’ And then we have the end of month and end of quarter issues we must always deal with in both New York and London.

      However, once we get into July, the pressures noted above will evaporate and it is then that you can expect COMEX silver to begin moving higher with COMEX gold. With COMEX gold moving above $1800 and the gold:silver ratio moving below 100, we should expect a move toward $19 and then $20. But here are two other, lesser-known indicators that signal this move will soon be forthcoming.

  12. On June 24, 2020 at 8:18 am,
    SilverDollar says:

    Do any of you PM aficionados remember a former guest of Cory’s, Dan Oliver? Listen to his latest thoughts: https://www.kitco.com/news/video/show/Mines–Money-Online-Connect-2020/2871/2020-06-24/Expert-who-called-for-$3000-gold-is-upgrading-forecast

  13. On June 24, 2020 at 10:10 am,
    David says:

    Matthew;
    Thanks for all the great work. Excellent!