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

Cory
July 30, 2020

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.

Discussion
57 Comments
      Jul 30, 2020 30:46 PM

      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.

    cfs
    Jul 30, 2020 30:12 PM

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

    Why ? I don’t see one.

      Jul 31, 2020 31:17 AM

      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

        Jul 31, 2020 31:34 AM

        Ditto………..Very Telling…….. 🙂

          Jul 31, 2020 31:39 AM

          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)

            Jul 31, 2020 31:44 AM

            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.)

            Jul 31, 2020 31:10 AM

            10-4 OOTB. Good info.

    Jul 30, 2020 30:33 PM

    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/

    Jul 30, 2020 30:40 PM

    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

    cfs
    Jul 30, 2020 30:11 PM

    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

    Jul 30, 2020 30:29 PM

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

      Jul 31, 2020 31:20 AM

      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.

        Jul 31, 2020 31:24 AM

        (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

    Jul 31, 2020 31:21 AM

    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.

      Jul 31, 2020 31:22 AM

      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.

        Jul 31, 2020 31:05 AM

        ….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

          Jul 31, 2020 31:31 AM

          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.

          Jul 31, 2020 31:37 AM

          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.

            Jul 31, 2020 31:43 AM

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

            Jul 31, 2020 31:04 AM

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

    cfs
    Jul 31, 2020 31:37 AM
    Jul 31, 2020 31:21 AM

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

      Jul 31, 2020 31:30 AM

      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

        Jul 31, 2020 31:35 AM

        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… 🙂

          Jul 31, 2020 31:41 AM

          +3

            Jul 31, 2020 31:43 AM

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

    Jul 31, 2020 31:22 AM

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

      Jul 31, 2020 31:33 AM

      In Canada – BJ Snowden (music video)

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

        Jul 31, 2020 31:37 AM

        She needs some vocal lessons….. 🙂

          Jul 31, 2020 31:42 AM

          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. 🙂

    Jul 31, 2020 31:45 AM

    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

      Jul 31, 2020 31:49 AM

      Welcome to the wild world of Mongolia…. 🙂

        Jul 31, 2020 31:57 AM

        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

          Jul 31, 2020 31:28 AM

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

        Jul 31, 2020 31:54 PM

        The Mongolians have good barbeque.

    Jul 31, 2020 31:34 AM

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

      Jul 31, 2020 31:02 AM

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

    Jul 31, 2020 31:03 AM

    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

      Jul 31, 2020 31:02 AM

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

        Jul 31, 2020 31:38 PM

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

          Aug 01, 2020 01:01 AM

          (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