Chris Temple from The National Investor – Tue 30 Jun, 2020

Gold, silver, and copper all moving higher – Here’s what matters in the markets right now

Chris Temple joins me to summarize the moves in gold, silver, copper, and the US markets which are all appreciating today. It’s the end of the quarter so there is a lot of “window dressing” but gold especially is reaching some key technical levels.

We also focus on what will be the major drivers for the rest of this year. It’s going to be a volatile market for the whole year!

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Comments:
  1. On June 30, 2020 at 10:19 am,
    cfs says:

    Prime Mining samples 63 m of 1.78 g/t Au at Reyes

    2020-06-30 10:52 ET – News Release

  2. On June 30, 2020 at 10:35 am,
    Matthew says:

    In my estimation, the bears have the rest of June to get their act together…
    https://stockcharts.com/h-sc/ui?s=SILJ%3AGDX&p=D&yr=0&mn=9&dy=0&id=p06167726140&a=745541155
    😏

  3. On June 30, 2020 at 10:52 am,
    Matthew says:

    Based only on the weekly chart, I would guess that gold will soon roll over but the bigger charts, especially the quarterly, suggest that gold could and probably will go higher from here. In addition, silver looks much better than gold currently so it also suggests higher prices.
    GLD nearing resistance:
    https://stockcharts.com/h-sc/ui?s=GLD&p=W&yr=5&mn=0&dy=0&id=p19770873865&a=683083655

  4. On June 30, 2020 at 11:40 am,
    Alex says:

    Matthew. May I ask you take a look at svbl . I have position a nd looks like some one is trying to keep the stock down. thank you. I remember Ex wanted to start position with svb.

    • On June 30, 2020 at 12:07 pm,
      Matthew says:

      Alex, the trading looks normal and bullish to me. Frustrating price action is as normal as it gets in this sector but SVBL looks fine. It was capped today at Fibonacci Fan resistance but I bet it will break through it when silver finally breaks out convincingly.

      The more speculative tiny-cap juniors often get off to a shaky start early in an uptrend when compared to their larger peers but they usually make up for the inconvenience later.
      https://stockcharts.com/h-sc/ui?s=SVBL&p=D&yr=1&mn=1&dy=0&id=p95058139726&a=778050269

      • On June 30, 2020 at 12:19 pm,
        Matthew says:

        Here’s the same chart but with Bollinger Bands and moving averages added. Notice the recent bullish “golden cross” (50 day MA above the 200 day MA) and that there has not been a daily close below the 200 day MA since May. In addition, today looks like it will be the 6th in a row to finish above the 50 day MA. All good.
        Now a close above the Fib resistance or at least the KAMA (Kaufman’s Moving Average, dashed purple line) will set-up a move to the upper Bollinger Band which will probably cause enough selling to stall the move briefly. Such a stall is much less likely when that Bollinger Band is pointing up rather than sideways.
        https://stockcharts.com/h-sc/ui?s=SVBL&p=D&yr=1&mn=1&dy=0&id=p37604940454&a=778050269

    • On July 1, 2020 at 8:48 am,
      Excelsior says:

      Alex – good luck in the position with SVB Silver Bull, because with such a large resource in Ag eq/oz (3rd in size globally, right behind Mag Silver and Bear Creek), it will have nice optionality to rising metals prices. Silver Bull has a ton of Zinc & Lead as well, and I consider it just a much a Zinc company as a Silver company, so any rise in base metals prices will really help out SVB.

      I ended up initiating a position in Southern Silver Exploration (SSV) instead, as they have about the 5th or 6th largest deposit, were severely undervalued on a number of metrics but especially on a cost per ounce valuation on such a large deposit, just like Silver Bull. I like that Southern Silver just moved for 100% ownership of their Cerro Las Minitas project as well.

      ____________________________________________

      (SSV) (SSVFF) Southern Silver Exploration – Consolidating Cerro Las Minitas ownership in a deal that makes sense.

      Caesars Report – June 30, 2020

      “Companies owning a minority interest in their flagship project generally don’t enjoy a good valuation by the market as they basically remain at the mercy of their majority partner. This has been the case for Southern Silver Exploration (SSV.V) the past few years.”

      “Southern Silver has now entered into an agreement with Electrum to acquire the 60% stake the latter owns. This will allow Southern Silver to consolidate the ownership of the project again and although there will be substantial cash payments required, it is a good (and probably the only acceptable) move for Southern Silver to advance the project and hopefully see a re-rating further down the road.”

      https://www.caesarsreport.com/reports/report-southern-silver-exploration-consolidating-cerro-las-minitas-ownership-in-a-deal-that-makes-sense/

  5. On June 30, 2020 at 12:19 pm,
    alex says:

    thank you, Matthew. I plan to hold. best to you.

  6. On June 30, 2020 at 1:21 pm,
    Charles says:

    AXU, Kooteney, Impact, USAS and Brixton all looking great! It was Kooteney’s turn today. Should be a fun second half. Mostly just watching the action now. Matthew, I was wondering if you are investing in the Uranium secton now. I know you had a position in UEC about a year or so ago. Penny for your thoughts? I have been buy some UUUU in very small chunks since it has pulled back.

    • On June 30, 2020 at 2:00 pm,
      Matthew says:

      Charles, I have no exposure at all and haven’t for quite some time but will eventually.

      I owned UEX, btw, not UEC.

    • On July 1, 2020 at 8:28 am,
      Excelsior says:

      Goodstock picks Charles. I hold all of those including the Uranium companies. Yes, the moves in the Silver companies have been getting active recently.
      Agreed it was nice to see Kootenay playing catch up finally. Ever upward!

      • On July 1, 2020 at 9:00 am,
        Wolfster says:

        You’re still around after all Ex. Started wondering after not seeing any comments after the one about taking a long nature trail hike. Thought you were going to show up on an episode of dateline mysterious. 😁

        • On July 1, 2020 at 11:40 am,
          Excelsior says:

          Haha! I was in Boulder, Denver, and Colorado Springs for the last week up in the mountains hiking. It was great to get a break from everything for a while for a mental reset. There were are a few times teetering on the edge of rock formation that I wondered if I would disappear on show up on an episode of dateline mysterious. Haha!

  7. On June 30, 2020 at 2:46 pm,
    Charles says:

    Thanks for the chart. Might be wasting ammo.