John Rubino over at Dollar Collapse – Mon 27 Jul, 2020

Precious Metals Continue to Breakout

John Rubino joins me to comment on the continued breakout in gold and silver. These metals continue to be the standout sectors as the US dollar is breaking down and US markets remain relatively quiet.

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Comments:
  1. On July 27, 2020 at 1:26 pm,
    Matthew says:

    “No big corrections in the short run.”
    John Rubino gets it. Relax and enjoy the ride.

    • On July 27, 2020 at 7:12 pm,
      confused says:

      A thing of beauty…. 12% up-day in silver!!!! WOW…never done before?? The stocks still don’t believe it yet….truly confusing and scary! I guess that is why they call it a silver bull…..throws off both punters and seasoned folks simultaneously….

      • On July 27, 2020 at 10:55 pm,
        Matthew says:

        You got that right! Silver gives everyone fits!

  2. On July 27, 2020 at 1:29 pm,
    OOTB Jerry says:

    Ditto Matthew……..Enjoy the ride…..
    Silver and gold both looking good…..

    • On July 27, 2020 at 1:31 pm,
      OOTB Jerry says:

      $19. to $24…….nice….

      • On July 27, 2020 at 4:26 pm,
        OOTB Jerry says:

        $25.32…….looking good……going to $49

        • On July 27, 2020 at 4:34 pm,
          Excelsior says:

          Gold up to $1953 in after-hours trading
          Silver up to $25.40 in after-hours trading
          Bitcoin up to $10,985 in after-hours trading

          The US Dollar down to $93.60

          That tells people all they need to know. Listen to the Money Talk.

          >> AC/DC – Moneytalks

          https://youtu.be/2lqdErI9uss

          • On July 27, 2020 at 4:36 pm,
            Sound Money Advocate says:

            yyow! good one Ex

          • On July 27, 2020 at 5:11 pm,
            Excelsior says:

            πŸ€‘πŸ€‘πŸ€‘
            πŸ•ΊπŸ•ΊπŸ•Ί
            🀟🀟
            πŸ‘

          • On July 27, 2020 at 5:12 pm,
            John Kruschke says:

            It’s a long way to the top if you want to trade in Gold.
            Bon Scott
            https://www.youtube.com/watch?v=-sUXMzkh-jI

  3. On July 27, 2020 at 1:48 pm,
    OOTB Jerry says:

    Well, daily close on gold…..looking good…..broke the $1923……high….which says a WHOLE LOT…..

    • On July 27, 2020 at 4:22 pm,
      OOTB Jerry says:

      OOPS…………….GOLD JUST TOOK OFF ……. $1953……..

    • On July 27, 2020 at 4:29 pm,
      Excelsior says:

      Agreed OOTB. Gold closed the day at $1931, solidly above the 2011 all time high of $1923.

      Plenty of reason to celebrate. I was looking for the all time high to be broken this year, (but not nearly this fast, and I was expecting a corrective move to begin in the mid to high $1800’s that never came). My initial upside target was $1935, so $1931 is pretty dang close, and Gold has headed even higher in after hours trading.

      Fantastic action for sure!!

      > 5 Year Gold Chart show the move from major low at $1045.40 in Dec 2015 to the all time high this afternoon.

      http://schrts.co/njuxkIXg

      • On July 27, 2020 at 5:26 pm,
        OOTB Jerry says:

        SOLID AS A ROCK……………NEW BALL GAME>…….. πŸ™‚

        • On July 27, 2020 at 5:27 pm,
          OOTB Jerry says:

          James the Lesser……should be happy……maybe….

          • On July 27, 2020 at 5:28 pm,
            OOTB Jerry says:

            Spanky…….should be coming back any moment… πŸ™‚

          • On July 27, 2020 at 5:54 pm,
            Excelsior says:

            Haha! “Some bull market action this is…” — Spanky

            I wonder if Harry Dent (who was calling for $900 then $800 then $600 Gold) and his minions of “Final Washout’ groupies are celebrating the break out to all time highs in Gold today? (LOL!!)

            https://marketsanity.com/wp-content/uploads/2020/03/harry_dent.png

          • On July 28, 2020 at 11:03 am,
            GrowingTrees says:

            Ex… Harry Dent Comment = Hilarious

        • On July 27, 2020 at 6:04 pm,
          OOTB Jerry says:

          I have to keep rubbing my eyes…… $1964…….GOLD….
          Just think, in 1964….you might have been able to buy a nice used car for that….lol,
          Heck, you can do that today, …with unemployment at 50%…….

          • On July 27, 2020 at 6:55 pm,
            Excelsior says:

            +1965 It’s a real rip-roaring good time.

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

          • On July 28, 2020 at 1:11 am,
            Excelsior says:

            …. and the prices have fallen in overseas trading with a takedown to $1911 in Gold.

            Silver has moved back down to $23.40.

            We often see a metals selloff a day or two before the FOMC meeting, so a Tuesday pullback, maybe into Wednesday as well may be a good opportunity to poach a few deals in the miners. A day or so after the FOMC when folks realize they haven’t got much of a gameplan other than keep rates low and create more money, then the metals have a tendency to rise.

          • On July 28, 2020 at 5:31 am,
            Excelsior says:

            Gold back up to $1927 now, so clawing back a little ground.

            Silver is still down but up to $23.80 now.

          • On July 28, 2020 at 8:00 am,
            Excelsior says:

            Now Gold back up to $1950. Crazy moves!

      • On July 27, 2020 at 5:30 pm,
        OOTB Jerry says:

        Been a LONG FREAKING HAUL…….

        • On July 27, 2020 at 5:32 pm,
          OOTB Jerry says:

          No more BS……from the crackerjack crowd……
          GOLD TARS……Not your granddaddies gold market, run don’t walk….lol

          • On July 27, 2020 at 6:52 pm,
            Excelsior says:

            +1

  4. On July 27, 2020 at 2:24 pm,
    chris swenson says:

    A monthly close up here would get some hedge fund & main stream attention me thinks!

    • On July 27, 2020 at 5:57 pm,
      Excelsior says:

      +1 Unless there is some drastic take down later in the week, the Gold and Silver monthly candles should be incredibly strong, and garner more attention from the main stream investing universe.

    • On July 27, 2020 at 6:25 pm,
      Matthew says:

      I think the record high quarterly close we just had got some attention. That all-time high foreshadowed the current action.

  5. On July 27, 2020 at 2:41 pm,
    Dick Tracy says:

    Gold at last has broken 1923, I wish somebody would develop a new symbol other than emoji to express the elation, how about COCO the Gorilla! DT

  6. On July 27, 2020 at 2:53 pm,
    Sound Money Advocate says:

    So what did people make today? 20K? 50? 100?

    Not bad for a day’s work, eh?

    • On July 27, 2020 at 4:23 pm,
      OOTB Jerry says:

      What ever it was, a few min. ago……it just went up…. πŸ™‚

  7. On July 27, 2020 at 3:00 pm,
    bonzo says:

    Matthew and Excelsior, do you own Lumina or Luminex in Ecuador? Ross Beatty owns 19.9% of ea. Thanks.

    • On July 27, 2020 at 4:15 pm,
      Excelsior says:

      HI bonzo – No I don’t own Lumina or Luminex. I had answered you back on the weekend show and posted all the gold and silver stocks I hold.

  8. On July 27, 2020 at 3:12 pm,
    Matthew says:

    Bonzo, I do not.

    • On July 27, 2020 at 4:31 pm,
      bonzo says:

      Thanks. I just heard an interview with Ross Beatty and he thought those are the most undervalued mining stocks. But do I need a 45th or 46th company, in Ecuador no less?

      • On July 27, 2020 at 4:39 pm,
        Sound Money Advocate says:

        if you got that kind of money, why not start with $5k or so and see what happens – if it runs 5x and you do nothing else, you can stuff $20k more in yer pocket – not mere pocket change at my level

        • On July 27, 2020 at 5:08 pm,
          Matthew says:

          Big money or small money, we all want the best bang for our buck.

          • On July 27, 2020 at 5:59 pm,
            bonzo says:

            Will Lumina or Luminex give me a better bang than Novo, Lion One, Irving, Miramont,
            Eloro, or NULGF?

          • On July 27, 2020 at 6:36 pm,
            Matthew says:

            I have no idea but you’re probably smart to avoid Ecuador even if it is safe since most investors want nothing to do with it.

  9. On July 27, 2020 at 3:16 pm,
    Wolfster says:

    Hey Ex. I haven’t found anything of substance to explain today’s volume and price move in triumph. Did you find anything ???

    • On July 27, 2020 at 4:20 pm,
      Excelsior says:

      Hey Wolfster – some believe that it may have been a strategic fund positioning and that this announcement today from Willem Middlekoop who runs the Commodity Discovery Fun fits the bill well as he is widely followed.

      _________________________________________

      willem middelkoop @wmiddelkoop Β· 8h on Twitter:

      “Buying a new miner .. has millions of ounces of Gold in Canada, valued at $20 dollars per ounce.”

      “Wouldn’t surprise me when valuation will rise to $100-200 per ounce within the next few years.”

      “Some of these companies are still DIRT cheap.”

      https://twitter.com/wmiddelkoop/status/1287757753969266690

      • On July 27, 2020 at 5:12 pm,
        Wolfster says:

        Thanks Ex. I have to say I’ve never heard of him so means nothing to me.

        • On July 27, 2020 at 5:22 pm,
          Excelsior says:

          Willem is a big player in the Gold and commodity space. He has many followers and I’ve seen his Commodity Discovery Fund back and move other Jrs before.

          https://en.cdfund.com/

  10. On July 27, 2020 at 3:22 pm,
    Wolfster says:

    Hey Matthew regarding the Kootenay. I have to be honest if you told me 2 months ago that silver would be closing in on $25 I’d have thought Kootenay would have been alot higher than it is. Have I overestimated things or is it just being a bit of slow climb due to the March selloff that has it being a three bagger for those who got in at those lows???

    • On July 27, 2020 at 5:04 pm,
      Matthew says:

      Wolfster, that’s a great question. KTN is now 33% above its 2019 high while SILJ and silver are each roughly 27% above their own 2019 highs but the real story, in my opinion, is that the silver miners in general have been stealthily correcting for awhile now. People keep selling in anticipation of an obvious nominal decline while the silver miners as a group stalled versus silver a long time ago. The leverage we’ve come to expect has come and gone on a short term basis but, overall, has been absent since late May. This is no cause for concern in my opinion since SILJ blew away silver from the March low until late May and has simply been consolidating the move since then. For as good as last week was for the miners, I expect a much stronger move to erupt in the near future when the silver miners break out versus silver. Our leverage will return and it might ironically happen as silver gets closer to a short term high. The key is the breakout:
      https://stockcharts.com/h-sc/ui?s=SILJ%3ASLV&p=W&yr=5&mn=11&dy=0&id=p58437020023&a=790289399

      I have to add that the juniors all have unique factors governing there fortunes at any given time and I never did expect KTN to do as well as many others early on due to the poor economics of much of its low grade silver. However, that low grade stuff will deliver fantastic leverage later when silver is much higher and today’s stars will then lag KTN and others like it. In short, a lot of KTN’s silver is not yet “in the money” and until it is, or close, it will probably not do as well as those with higher grade deposits.
      63 million ounces are economic at $22 silver but 116 million ounces need $31 silver.

      • On July 27, 2020 at 5:17 pm,
        Wolfster says:

        Thanks Matthew. I guess I did overvalue things slightly in a way……silver continues higher as we speak tho. Cheers

      • On July 27, 2020 at 5:19 pm,
        Excelsior says:

        Good thoughts Matthew. Yes, overall I would have expected to see Silver miners in a mania mode at even $22 or $23 much less where it has vaulted to up in the mid $25’s.

        KTN Kootenay has a few bulk tonnage lower grade deposits whose ounces in the ground will provide optionality leverage to the upside, but for the last year or so they’ve been working on their newer high grade deposits and like Wolfster mentioned, I’d have expected to see them get more traction on some of those with the market.

        For example, this was a nice (albeit narrow) recent drill hit:

        > (KTN) (KOOYF) Kootenay Silver Intercepts 1,297 gpt Silver & 0.285 gpt Gold Over 3.2 Meters at Copalito Silver-Gold Project, Mexico
        by @newswire on 22 Jul 2020

        https://ceo.ca/@newswire/kootenay-intercepts-1297-gpt-silver-0285-gpt-gold

      • On July 27, 2020 at 5:27 pm,
        John Kruschke says:

        For any body new to the K E Report, Mathews post right there is pure investment GOLD.

      • On July 28, 2020 at 11:07 am,
        GrowingTrees says:

        Appreciate the comments Matthew.

        • On July 28, 2020 at 11:09 am,
          GrowingTrees says:

          and Ex… about KOOYF

          • On July 28, 2020 at 5:18 pm,
            Excelsior says:

            Thanks GrowingTrees.

  11. On July 27, 2020 at 3:23 pm,
    irishtony says:

    Gary Savage…On the US dollar.
    http://news.goldseek.com/GoldSeek/1595855974.php

  12. On July 27, 2020 at 3:26 pm,
    Marty says:

    Chris Vermeulen barely had time to blink with his $24.36 silver call

    • On July 27, 2020 at 5:04 pm,
      Excelsior says:

      Yes, almost every upside resistance level keeps getting surpassed without even a pause in the rally. It is insanely strong action in both Gold and Silver the last few weeks.

      It can’t be understated how significant it was that Silver took out the $19.75 2019 high without much issue over a week ago, and then trucked it up straight through the 2016 high of $21.23 without even a pause or correction. When last week Silver made it up through $23, in such short notice that blew away dozens and dozens of technicians upside targets before we’d see a correction. Chris V’s $24.36, which was a Fibonacci extension, was just one more resistance level cleared along the way.

      I’m still curious to see if this $26 – $26.50 level in Silver from the prior troughs in 2011 & 2012, and the level where the bottom fell out in 2013 is going to prove to be overhead resistance. (not a high, but a place where Silver may get swatted back down in a corrective move)

      http://cdn.ceo.ca/1fhsqqt-Silver%20Chart%2026%20Dollar%20Resistance.JPG

      • On July 27, 2020 at 5:13 pm,
        Excelsior says:

        With Silver futures at $25.65 we should know sooner rather than later. Wow!!

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

        • On July 27, 2020 at 5:52 pm,
          OOTB Jerry says:

          $35…..next week…… πŸ™‚ just joking…

          • On July 27, 2020 at 5:54 pm,
            OOTB Jerry says:

            But, sooner than you think…. πŸ™‚

          • On July 27, 2020 at 6:02 pm,
            Excelsior says:

            Haha! Yes, at this point nothing would surprise me the way things are running in the PMs.

          • On July 27, 2020 at 6:07 pm,
            OOTB Jerry says:

            I said …Monday should be interesting……I did not expect this…..

          • On July 27, 2020 at 6:29 pm,
            Excelsior says:

            Well OOTB – you nailed it… Monday HAS been INTERESTING. πŸ™‚

          • On July 27, 2020 at 6:56 pm,
            OOTB Jerry says:

            πŸ™‚

  13. On July 27, 2020 at 6:08 pm,
    OOTB Jerry says:

    Dang…… $1973……GOLD

    • On July 27, 2020 at 6:11 pm,
      OOTB Jerry says:

      $2000……..next…. πŸ™‚

      • On July 27, 2020 at 6:13 pm,
        OOTB Jerry says:

        Dang Silver …..hit $26

        • On July 27, 2020 at 6:26 pm,
          Excelsior says:

          $26.04 Silver. It has already arrived. Wow!!

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

          • On July 28, 2020 at 1:13 am,
            Excelsior says:

            As anticipated, the $26 area did deflect Silver back down again, now trading at $23.40 in overseas trading. Resistance held…. for now.

  14. On July 27, 2020 at 6:12 pm,
    cfs says:

    With FMOC meeting tomorrow and reporting on Wednesday…..
    With Gold contract settlement due tomorrow…..
    Nothing will surprise me.

    Ido look forward to 8/26 silver contract settlement.

  15. On July 27, 2020 at 6:22 pm,
    cfs says:

    It would not surprise me if gold consolidates after tomorrow, if for no reason than to drop below the Bolinger band, before heading higher.

    • On July 28, 2020 at 1:16 am,
      Excelsior says:

      Yep, Ira Epstein was pointing that out, and that Gold was already getting lofty above the bollinger band for over 5 trading sessions, so it is a very high likelihood of a Gold price pullback. It has arrived in overseas trading with Gold back down off the higher range from $1931-$1965, and currently back down around $1913. Looks like lower prices for Tuesday, which is healthy. Also pricing in PMs regularly drop the day or so before the FOMC Fed meeting, and there is a meeting on Wednesday.

      • On July 28, 2020 at 8:09 am,
        Excelsior says:

        Well, apparently gold is not going to be held down, and it is now back up to $1945 again. I was fully prepared for a nice pullback today, (and was hoping things would correct a bit to deploy some dry powder), but the bull rides higher….

  16. On July 27, 2020 at 6:24 pm,
    cfs says:

    P.S. They raised Silver margins this evening, so comex is concerned.

    • On July 27, 2020 at 6:25 pm,
      Excelsior says:

      That’s the same thing they did in 2011 when Silver started running.

  17. On July 27, 2020 at 6:29 pm,
    Buzz says:

    Hey, Frank Holmes was right for once!

    • On July 27, 2020 at 6:57 pm,
      OOTB Jerry says:

      What no more updates with Billy Clinton….

    • On July 27, 2020 at 10:09 pm,
      cfs says:

      Given the very high speculation emotion, right now in silver, I’m not sure they raised margins enough to dampen enthusiasm.

      • On July 28, 2020 at 1:17 am,
        Excelsior says:

        Well, Silver just fell from a bit north of $26 resistance down to $23.40 (about $2.60 in the last few hours), so the dampening has begun.

        • On July 28, 2020 at 8:01 am,
          Excelsior says:

          Now Silver has rocketed back up to $24.75. These are some big swings, but it’s making the trading fun in the Silver stocks.

  18. On July 28, 2020 at 7:05 am,
    cfs says:
  19. On July 28, 2020 at 9:20 am,
    cfs says: