Jordan Roy-Byrne - Technical Commentary on the Metals – Thu 30 Jul, 2020

What’s more vulnerable to a near term correction… gold or the gold stocks

Jordan Roy-Byrne joins me share his outlook for the precious metals after the drop today. We also weigh whether the metals or stocks are more susceptible to a large correction.

Click here to visit Jordan’s site – The Daily Gold.

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Comments:
    • On July 30, 2020 at 3:46 pm,
      Excelsior says:

      That is some crazy action in Kodak and I’m glad that article pointed out their cypto-idiocy campaign to form their own altcoin back in 2018 that belly flopped into the pool. So now the government is going to give them a bailout loan to make pharmaceuticals (which they’ve got no experience doing) and the locust swarms of investors chased it up 2,000% on the verbal mention from Trump. Tragic comedy.

      • On July 30, 2020 at 7:12 pm,
        Wolfster says:

        As long as it’s not kodiak……..I haven’t bought it yet

  1. On July 30, 2020 at 3:12 pm,
    cfs says:

    Do you see a multi-week bounce for the U.S. Dollar ?

    Why ? I don’t see one.

    • On July 31, 2020 at 6:17 am,
      Excelsior says:

      US Dollar at $92.93

      Gold at $1961

      Silver at $24.19

      Today’s weekly & monthly closes will be very telling. It looks like the Greenback is plumbing a recent low, while the Precious Metals are about to put in stellar closes for the longer duration charts. Fun times!

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

      • On July 31, 2020 at 6:34 am,
        OOTB Jerry says:

        Ditto………..Very Telling…….. 🙂

        • On July 31, 2020 at 6:39 am,
          OOTB Jerry says:

          Gann Report ………..we have a HISTORICAL MOVE………in a very short duration of time…..
          This last move was one of the 5th. Strongest in HISTORY……going back to approx. 1870’s
          That info was from yesterday’s report…. (Gann. Report was offered from Bob at 321 gold)

          • On July 31, 2020 at 6:44 am,
            OOTB Jerry says:

            Talking about 60 and 90 year cycles…….gold moves not only daily , weekly , monthly, yearly……but, in longer cycles…..because of HISTORICAL EVENTS…..just the way it is.
            (Only, posting this….not for you Ex, but, for readers who are only new to GOLD.)

          • On July 31, 2020 at 7:10 am,
            Excelsior says:

            10-4 OOTB. Good info.

  2. On July 30, 2020 at 3:33 pm,
    Excelsior says:

    Look How Radically Undervalued Gold Miners Are Compared To The Price Of Gold

    July 30 – King World News

    https://kingworldnews.com/gold-at-this-point-this-says-it-all/

    • On July 30, 2020 at 4:08 pm,
      Excelsior says:

      Sentiment Speaks: Gold Blows Through Upside Resistance – The Chase Is On

      Jul. 28, 2020 – Avi Gilburt

      – “Before heading to our next region of 200+ in GLD, I was expecting a pullback to 161-66 in GLD.”

      – “The market has since moved through a resistance level that has made that potential much less likely.”

      – “I am now tracking a more direct pattern towards the 200+ GLD region.”

      https://seekingalpha.com/article/4361211-sentiment-speaks-gold-blows-through-upside-resistance-chase-is-on?li_source=LI&li_medium=liftigniter-widget

      • On July 30, 2020 at 5:50 pm,
        Excelsior says:

        Are the Markets About to Turn?

        by Chris Vermeulen @TheTechnicalTraders – 30 Jul 2020 #VIDEO

        “Deborah Honig from Adelaide Capital asks Chris the question on everyone’s mind – where are the markets heading? Where is the ‘big money’, the early movers in the market, going? Chris and Deborah also look at the technicals for Gold and Silver and discuss whether Gold and Silver are starting a big run-up now, or should we wait before taking positions?”

        https://ceo.ca/@thetechnicaltraders/are-the-markets-about-to-turn

        • On July 31, 2020 at 6:25 am,
          Excelsior says:
          • On July 31, 2020 at 6:36 am,
            Excelsior says:

            “the silver market is currently on pace to surpass gold’s performance for the year. With its latest rally, silver prices are up 26% year to date. Meanwhile, gold prices are up 21% for the year. Silver’s outpacing of $gold looks likely to continue.”

            “Though, on a technical basis, silver was a rocket ship waiting to take off, the catalyst that launched it was the US Federal Reserve’s continued commitment to keep fixed income yields near all-time lows for the foreseeable future. Additionally, cheap money continues to debase the value of the dollar.”

  3. On July 30, 2020 at 3:40 pm,
    Matthew says:

    Despite being at what should be formidable fork support, I have a feeling the dollar will not bounce much here, if at all. One reason is that March spike. It contains the energy needed to push it to about 89+/- and could do so sooner rather than later with or without a catalyst due to the recent and decisive bearish turn the dollar has taken.
    https://stockcharts.com/h-sc/ui?s=%24USD&p=W&yr=6&mn=3&dy=0&id=p03940920609&a=653766793

  4. On July 30, 2020 at 5:11 pm,
    cfs says:

    OFF TOPIC:

    Another Soros-backed District Attorney:
    A corrupt Marxist District Attorney.
    Another Black Democrat CRIMINAL:
    https://www.kmov.com/news/st-louis-circuit-attorney-hasnt-disclosed-trips-as-required-by-law-documents-show/article_bdee8a7a-d05f-11ea-b7c3-079ff4871843.html

  5. On July 30, 2020 at 6:29 pm,
    Dick Tracy says:

    Santa Cruz is halted for a third day, maybe Eric Sprott is working on a Private Placement with them, I wish. DT

    • On July 31, 2020 at 6:20 am,
      Excelsior says:

      Yes, that is the hope is that there is a financing package. Having Eric Sprott take a position would be a plus, but the big news is still that they have officially acquired their Zimapan mine & mill (their most profitable one of the 3 for the last year). This is very important for their longer term success, and is a big win regardless of what the other reason for the halt in news is about.

      • On July 31, 2020 at 6:24 am,
        Excelsior says:

        (SCZ) (SZSMF) Santacruz Silver Signs Agreement to Acquire the Zimapan Mining Assets from Grupo Peñoles

        July 28, 2020

        Zimapan mill facility which is a 75,000 dry metric tonnes (DMT) per month facility with zinc, lead and copper circuits. Over the past five years the Zimapan Mill has produced an annual average of 12,400 tonnes of zinc, 3,300 tonnes of lead, 1,850 tonnes of copper and 1,290,000 ounces of silver from an average annual throughput of 700,000 tonnes of mineralized material generating an average of 4,681,000 ounces silver equivalent.”

        http://www.santacruzsilver.com/s/news_releases.asp?ReportID=878110

  6. On July 31, 2020 at 4:21 am,
    Wolfster says:

    Well looking at my portfolio today I think I’d like Eric Sprott to talk about Kootenay in his weekly update. Worked great for my vizsla and discovery holdings.

    • On July 31, 2020 at 6:22 am,
      Excelsior says:

      I’m fine if Sprott wants to plug all 3 Kootenay, Vizsla, and Discovery. 🙂

      I have a feeling he’ll highlight some of the other companies he’s taken positions in lately though. However, Eric & Craig should be in good spirits again, as the Precious Metals are about to put in killer weekly/monthly closes.

      • On July 31, 2020 at 7:05 am,
        Excelsior says:

        ….and here it is….. haven’t listened yet.

        Sprott Money News Weekly Wrap-up – 7.31.20

        w/ Eric Sprott & Craig Hemke

        https://soundcloud.com/sprottmoney/sprott-money-news-weekly-wrap-up-73120

        • On July 31, 2020 at 7:31 am,
          Excelsior says:

          Sprott makes point that I hope more investors hear that the price of a stock or the share count are not nearly as important as looking at the total market cap valuations on the stocks. He mentioned how many investors fall into the trap of only looking at the prices of stocks or their share counts, and while this may seem incredibly basic, people need to multiply the 2 number and get the Market Cap.

          If one starts comparing where some of the hot exploration plays have gone it is stunning. However, with the developers some are at nose bleed market caps not even being in production, while some producers that have more ounces in the ground than these hot developers have market caps much less, so there are big disconnects in the market out there. In addition, there are developers that should be re-rated much higher up in line with their peers market caps, especially when they have larger resources or better economics. Lastly, when one starts looking at the producers, it can get more difficult, because one needs to weigh their mining operations and production metrics on top of their development projects & exploration projects and strategic investments. Still I see solid mid-tier producers with market caps 1/3 or 1/2 the size of companies that just have PEAs, so there are still room to run in many producers.

        • On July 31, 2020 at 7:37 am,
          Excelsior says:

          Eric Sprott discussed Kirkand Lake, Jaguar Mining, and Discovery Metals (of course), as some of his largest positions.

          Some of the other stocks the he and Craig discussed were Tudor Gold, Teuton Resources, Erdene Resource, Kore Mining. Spanish Mountain, and Freegold Ventures.

          • On July 31, 2020 at 9:43 am,
            Wolfster says:

            He’s starting to get repetitive with the ones he talks about.

          • On July 31, 2020 at 10:04 am,
            Excelsior says:

            I guess that means those are the one’s he’s building more concentrated positions in.

  7. On July 31, 2020 at 6:15 am,
    cfs says:
  8. On July 31, 2020 at 7:37 am,
    cfs says:
  9. On July 31, 2020 at 8:21 am,
    OOTB Jerry says:

    $1981.60…………Gold goal for the Day…….. break this and we are going on up… 🙂

    • On July 31, 2020 at 8:30 am,
      Excelsior says:

      Gold Price Surges To Another Record High On Safe-Haven Demand

      Jim Wyckoff – Friday July 31, 2020

      “Gold prices are solidly higher and hit another record high of $1,981.10, basis nearby August Comex futures, in early U.S. trading Friday. Silver prices are also sharply higher. Safe-haven demand and solidly bullish charts are fueling the bull market run in the two metals. A slumping U.S. dollar on the foreign exchange market is adding fuel to the upside for gold and silver markets. August gold futures were last up $28.90 an ounce at $1,971.20. September Comex silver prices were last up $0.828 at $24.185 an ounce.”

      “Gold and silver traders are apparently more concerned about the state of the world economies and geopolitics than are stock market traders. And there’s an old markets adage that the smartest traders are bond traders. U.S. Treasury bond yields this week have moved to near record lows, on safe-haven demand and a flight to quality. The yield on the benchmark U.S. Treasury 10-year note is currently trading around the 0.53% level.”

      https://www.kitco.com/news/2020-07-31/Gold-price-surges-to-another-record-high-on-safe-haven-demand.html

      • On July 31, 2020 at 8:35 am,
        OOTB Jerry says:

        Daily chart , showed gold hit it’s head on $1871.60 ….twice…..so, THIRD TIME is or maybe a charm…… 🙂
        But, I am no chartist………just long term thinker… 🙂

        • On July 31, 2020 at 8:41 am,
          Excelsior says:

          +3

          • On July 31, 2020 at 8:43 am,
            OOTB Jerry says:

            OOPS…………that should be $1981.60…..

  10. On July 31, 2020 at 8:22 am,
    OOTB Jerry says:

    Canadian Holiday….Monday……..hummm……

    • On July 31, 2020 at 8:33 am,
      Excelsior says:

      In Canada – BJ Snowden (music video)

      https://youtu.be/4qvNk52mXiU?t=1

      • On July 31, 2020 at 8:37 am,
        OOTB Jerry says:

        She needs some vocal lessons….. 🙂

        • On July 31, 2020 at 8:42 am,
          Excelsior says:

          haha! I laugh every time in the middle to end of that song & video with the flapjacks and maple syrup, and bizarre key change she goes through. 🙂

  11. On July 31, 2020 at 8:45 am,
    Dick Tracy says:

    I knew it would only be a matter of time before Eric mentioned Erdene Resources, I was hoping he would talk about it last week. DT

    • On July 31, 2020 at 8:49 am,
      Excelsior says:

      Welcome to the wild world of Mongolia…. 🙂

      • On July 31, 2020 at 8:57 am,
        Dick Tracy says:

        Wild is right, most of the people are still nomadic tribesmen literally living in tents, no electricity, no indoor plumbing, and a fire for warmth. At night you drink white lightning and share everything else. A World where their are no entitlements and you start your day at four in the morning, not for the faint of heart. DT

        • On July 31, 2020 at 9:28 am,
          Dick Tracy says:

          I forgot to mention The Thunderbox, it is a word that the english use but is in common practice in Mongolia. LOL! DT

          • On July 31, 2020 at 10:01 am,
            Excelsior says:

            Not to be confused with The Thunderdome.

            Mad Max Beyond Thunderdome (1985) Official Trailer – Mel Gibson

            https://youtu.be/9JKZKjFjHDM

      • On July 31, 2020 at 2:54 pm,
        David says:

        The Mongolians have good barbeque.

        • On August 1, 2020 at 11:02 am,
          Excelsior says:

          +1

  12. On July 31, 2020 at 9:34 am,
    Rene says:

    Garrett Goggin of the Gold stock analyst (John Doody newsletter) deep analysis into silver prices ahead
    https://www.youtube.com/watch?v=Z60Azfmx_S0

    • On July 31, 2020 at 10:02 am,
      Excelsior says:

      Thanks for the post Rene. It’s always interesting to see what the John Doody crew is involved with.

  13. On July 31, 2020 at 10:03 am,
    Wolfster says:

    The premium in the orezone warrants is starting to shrink as they become more in the money which is typical. Still they do give a slightly bigger leverage to the rise of orezone who I expect to be announcing some form of financing for their mine construction some time in the not so distant future

    • On July 31, 2020 at 11:02 am,
      Excelsior says:

      I remain very impressed with how things are developing with Orezone.

      • On July 31, 2020 at 12:38 pm,
        David says:

        I like that Orezone is up 14.51% at the moment.

        • On August 1, 2020 at 11:01 am,
          Excelsior says:

          (ORE) (ORZCF) Orezone Receives Approval of Expanded Mining Permit for Bomboré

          by @nasdaq on 29 Jul 2020

          Patrick Downey, President and CEO commented, “We have now received all major permitting required to execute on the mine plan in the 2019 feasibility study for the Bomboré Gold Project. We can now look forward to finalizing project financing and starting full scale construction in the near future. We would also like to thank the Government of Burkina Faso and the local communities for their continued support.”

          https://ceo.ca/@nasdaq/orezone-receives-approval-of-expanded-mining-permit