Chris Temple from The National Investor – Wed 5 Aug, 2020

The Dollar Decline Continues and No One Is Talking About The Bullish News For Uranium

Chris Temple joins me today for more comments on the breakdown in the US Dollar. Now at levels not seems since May 2018, Chris and I discuss what is truly driving this decline. We touch on the impact the dollar is having on the metals and markets. Finally Chris shares some recent news out of the Uranium sector that is very bullish.

Click here to visit Chris’s site and follow along with his market thoughts.

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Comments:
  1. On August 5, 2020 at 11:14 am,
    Excelsior says:

    Gold Price Forecast – Gold Markets Continue to Defy Gravity

    Christopher Lewis – Aug 05, 2020

    “Gold has shown a significant amount of strength again as we continue to see buyers jump on this train due to the Federal Reserve and its loose monetary policy.”

    Gold markets have gapped higher to kick off the trading session on Wednesday, only to turn around and fill the gap before rocketing straight up in the air. At this point, gold has gone completely parabolic and we desperately needs some type of pullback. That being the case, it is going to be difficult to watch this market but clearly it is obvious that we need to find some type of value. If you can wait for a return towards the $2000 level, you may see support come into play. Markets cannot go straight up in the air like this forever, although they can go straight up in the air much longer than you anticipate.”

    https://www.fxempire.com/forecasts/article/gold-price-forecast-gold-markets-continue-to-defy-gravity-665192

    • On August 5, 2020 at 11:17 am,
      Excelsior says:

      Gold, Silver & Dollar Critical Technical Level Reached on Aug 5th, 2020

      Chris Vermeulen – Aug 05, 2020

      “Gold and Silver rocket higher while the US dollar plummets. But, the dollar is at support and ready to bounce, and Silver just hit a resistance level today.”

      https://www.fxempire.com/forecasts/article/gold-silver-dollar-critical-technical-level-reached-on-aug-5th-2020-665148

      • On August 5, 2020 at 11:23 am,
        Excelsior says:

        Chris see’s an upside Fib extension level of $2299 for Gold in this bull run.

        As for Silver he sees both $26.75 and $29.40 as key resistance levels.

        • On August 5, 2020 at 11:58 am,
          OOTB Jerry says:

          Oliver and Gann report sees higher……….I posted it earlier…..
          Everyone jumping on board…..lol

        • On August 5, 2020 at 12:20 pm,
          GrowingTrees says:

          Sorry Ex, my phone and tablet posts have not seemed to be working (there were some good ones.. lol 🙁 responded on a previous thread (Monday I believe but, probably moved on).

          • On August 5, 2020 at 1:17 pm,
            Excelsior says:

            Hi GrowingTrees. I just checked Monday’s blog but didn’t see anything, but there were a few responses back on Tuesday’s blogs were I got back with you.

            I noticed one message had your name as GrowingTreed, (just a type-o, but if you change or name or email address accidentally, then your messages won’t post correctly). Maybe that was why the other didn’t post.

            Ever Upward!

    • On August 5, 2020 at 1:05 pm,
      Buzz says:

      Geeze, weren’t they saying the same thing for years about the conventional market?

  2. On August 5, 2020 at 11:14 am,
    Ebolan says:

    Poor Rickets…doesn’t know what inflation is…

    https://www.youtube.com/watch?v=mnVqKaK4TLE

    • On August 5, 2020 at 12:25 pm,
      OOTB Jerry says:

      Rickards is a ding dong…..on price inflation…..Housing, cars, insurance , taxes, food, like duh

      • On August 5, 2020 at 1:13 pm,
        Ebolan says:

        You are right. What world is he living in? Don’t know how he can deny/overlook that.

  3. On August 5, 2020 at 11:54 am,
    OOTB Jerry says:

    According to the first chart, Citigroup has lost 90 percent of its share value since January 3, 2005. (It dressed up its share price in 2011, doing a 10-for-1 reverse stock split, meaning shareholders who had previously owned 100 shares now owned just 10 shares at a higher price.)
    Bank of America’s share price has lost half its value and Morgan Stanley’s share price has been essentially flat for a decade and a half. Compare that to the Standard & Poor’s 500 (SPX) which is up more than 150 percent.

    These just happen to be the same three Wall Street banks that received most of the Fed’s secret bailout money during the financial crisis of 2007 to 2010. As the chart here from the government’s eventual audit of the Fed indicates, Citigroup received $2.5 trillion cumulatively from the Fed; Morgan Stanley received $2.04 trillion cumulatively; and Bank of America’s Merrill Lynch received $1.9 trillion cumulatively while Bank of America itself received another $1.3 trillion in cumulative loans. …

    • On August 5, 2020 at 11:55 am,
      OOTB Jerry says:

      By Pam and Russ Martens
      Wall Street on Parade
      Wednesday, August 5, 2020

      Federal Reserve Chairman Jerome Powell wants Americans to believe that the mega-banks on Wall Street that hold trillions of dollars in federally-insured deposits, while peddling everything from high-risk derivatives to junk bonds to precious metals, “are a source of strength” during this economic downturn. The big problem for the Fed can be seen in two charts.

      • On August 5, 2020 at 12:06 pm,
        OOTB Jerry says:

        This ties into what Oliver said about “watching the banks”…..they are in TROUBLE>

    • On August 5, 2020 at 12:31 pm,
      blazesb says:

      Socialism in America…of the rich, by the rich, for the rich.

      • On August 5, 2020 at 1:42 pm,
        Matthew says:

        You just described all socialism but it’s always the richest of the rich that benefit the most, not the self-made guys who worked their butts off and had to overcome rules and regs that don’t apply to those at the top.

        From the best economist the world has seen:

        “A society that chooses between capitalism and socialism does not choose between two social systems; it chooses between social cooperation and the disintegration of society.”

        “The market system is the basis of our civilization. Its only alternative is the Führer principle.”

        “Socialism is an alternative to capitalism as potassium cyanide is an alternative to water.”
        ― Ludwig von Mises, Human Action: A Treatise on Economics

        It’s easy to see why government schools push the scam that is Keynesian economics.
        https://www.goodreads.com/author/quotes/46766.Ludwig_von_Mises

        • On August 5, 2020 at 3:06 pm,
          John Kruschke says:

          Good post Mathew.
          Reading Mises was a challenge due to his extensive vocabulary.
          I think I had to learn abot seven pages of new words.
          Ludwig was one smart guy.

        • On August 5, 2020 at 8:18 pm,
          blazesb says:

          Keynes advocated deficits in hard times but balanced budgets otherwise. He wouldn’t recognize today’s never ending deficits and ever growing debt which are not ‘Keynesian’ economics.

          I first red von Mises in the eighties. Oddly it is a bit of a ‘circle coming round full’ story.
          In the eighties Vic Sperandeo was a regular interview in Barron’s–von Mises and Hayek were his touchstones and read with pleasure. A few years ago i googled Vic and was brought to the Kereport where it has been a pleasure to become reacquainted with his commentary.

          • On August 5, 2020 at 9:16 pm,
            Excelsior says:

            Ludwig von Mises is an economic legend, and Trader Vic is definitely a sharp guy.

          • On August 5, 2020 at 9:39 pm,
            Matthew says:

            What we have now is still Keynesian in principle but you are right that it is not what he recommended.

  4. On August 5, 2020 at 12:36 pm,
    cfs says:

    As long as the U.S. continues to follow a Zimbawean style economic policy any “bottom” in the dollar is only going to be temporary.

  5. On August 5, 2020 at 12:56 pm,
    Glenfidish says:

    We could have topped here for the next week or more..reset the indicators and allow for price to come down and miners to correct and consolidate before heading back up and finishing the monthly with a white small to medium size white candle. From the looks of things we look to be setting up for a strong monthly candle in September..who would have thought? Lol

    • On August 5, 2020 at 1:15 pm,
      OOTB Jerry says:

      🙂 come on Glen…….you knew all along…. 🙂

  6. On August 5, 2020 at 12:59 pm,
    Glenfidish says:

    This is kinda what I said last week regarding August monthly. Someone had nice words and said he luv it in remarks to my suggestion 🙂

    Looks like this is exactly what is happening except we go down into second week and strong into last week or two. My point is August will be toppy/frosty/blah/ and shake sentiment out towards bearish. Only two reverse next two months after..

    • On August 5, 2020 at 1:21 pm,
      Excelsior says:

      That seems like a reasonable outlook Glenfidish, and a pullback from these levels, would be healthy and constructive, before the next move higher in the PMs. I wouldn’t expect it to last very long though, but I’d add to a few positions on a nice corrective move.

      We’ll see how it goes… Cheers!

      • On August 5, 2020 at 2:04 pm,
        Glenfidish says:

        Hey Ex, Matt and all,

        I’m in agreement that it should not be a heavy sell off however Gary savages latest video is calling for one and very soon.. he says we are way to late in the cycle and that gold has a date with $1750 😳..that’s a nasty drop from here. What do you all think of Gary’s latest call? Jerry everyone else welcomed

        • On August 5, 2020 at 2:21 pm,
          Excelsior says:

          Hey Glenfidish. I’m not expecting things to fall that much (yet) but could see a fib retracement of the move from $1671 to where we are now at roughly $2040

          23.6% retracement of that move would come in at $1953

          38.25 retracement of that move would come in at $1899

          Those levels seem reasonable as a corrective move down in Gold.

          If things got more extended, then there was a lot of congestion and resistance at the $1780 level, so it would likely act as support this time. I’d be really surprised to see Gold go back down there though, much less $1750.

          All I meant when I said that sounds reasonable was a pullback & pause for a few weeks, to let things cool off with a down month in August, and then another up month in September. I still could see Gold moving higher before correcting in a more meaningful way.

          • On August 5, 2020 at 5:47 pm,
            RICHARD/DOC says:

            I believe Mr. Savage is a little too bearish—-I don’t see a pullback to $1750 at all.

    • On August 5, 2020 at 2:02 pm,
      Matthew says:

      Glen, it seems like you might be a little too bearish. We’ll know soon.

      • On August 5, 2020 at 2:23 pm,
        OOTB Jerry says:

        I was thinking , the same……depending on where it stops…….
        That would be a little nasty…..as you say Glen….

        Glen , did you read my post on Gann report…..

        • On August 5, 2020 at 2:57 pm,
          Glenfidish says:

          Ex, thanks for your thoughts and fin count.. makes plenty of sense. I’m in full agreement and have said I wouldn’t be surprised if this monthly is red but only to continue higher the following month. Good see your points.

          Jerry,

          Yes i try and read everyone’s post in here including yours which I value. The gang report posted by bob m i believe on July 31 mentioned by you on ker has gold hitting $160.. before meaningful correction.

          In conclusion I expect Matt to also say higher through summer as monthly is indicating this…I don’t think Matt sees $1750 at this moment neither do I. Which leaves us with Gary’s call being fruity lol which goes hand in hand with his getting bucked off a few times already lol. Just kidding Gary. I enjoy your cycles. Just thinking out loud here and getting everyone’s opinions which is stronger than any one opinion.

          I think at this point $2100 is in the books before anything and so I will go with this and miners next resistance levels being higher above. I can see those resistance getting hit when gold hits $2100 north

          • On August 5, 2020 at 4:16 pm,
            Excelsior says:

            Sounds good Glenfidish. I’ve trimmed back a bit more in the miners today in about a half dozen stocks, but did a just a smidge to Vizsla on the selloff today. About mid-day I looked over my portfolio a few times just making sure I didn’t want to trim anything else, but in almost every name I have a core position I’m comfortable with holding even if things pull back from here, and that would provide nice upside if the miners play more catch-up to the metals soon. I’ve got enough funds/liquidity in my account to go after any selloffs with my bottom-fishing pole. 🙂

          • On August 5, 2020 at 4:18 pm,
            Excelsior says:

            That should have said, “I did ADD just a smidge to Vizsla on the selloff today…”

          • On August 5, 2020 at 9:54 pm,
            buzz says:

            Me to. Viz at this level is a LT no brainer

          • On August 5, 2020 at 9:56 pm,
            buzz says:

            Too

          • On August 5, 2020 at 10:16 pm,
            Excelsior says:

            I’m actually hoping for Vizsla to go even lower, as I’d like to accumulate more on any pullbacks. However, I didn’t want to pass up the opportunity to add a bit today because the selling was pronounced and lower than where I had added back my initial tranche after liquidating my prior position during the big spike higher.
            Vizsla will likely go much higher, and they have a steady stream of drilling news and an aggressive exploration program the next few months, so lots of catalysts coming up.

  7. On August 5, 2020 at 1:06 pm,
    GrowingTrees says:

    Been looking at companies for U.S. plays. Who knows what could happen down the road and every country for themselves?

    Beat down: USAU

    https://d1io3yog0oux5.cloudfront.net/_84d28d9887e5cede5fff71cfae3e6799/usgoldcorp/db/280/795/pdf/USAU+Corporate+Presentation+July+2020.pdf

    Anybody have comments?

    • On August 5, 2020 at 1:28 pm,
      Excelsior says:

      Hi GrowingTrees. USAU is on my short-list for Copper plays (I know they have some PMs as well, but their copper development project is my main interest. I’ve been too pre-occupied with the Gold & Silver companies to focus much on Copper, but I did start positions recently in Regulus & Sun Metals, and fairly recently in Triumph Gold that has a large copper component along with their Gold. Also McEwen has nice copper kicker with Los Azules.

      The only Copper producer I have currently is Sierra Metals (SMTS). They are polymetallic with Silver/Copper/Zinc/Lead/Gold, so that covers the spectrum.

      https://s23.q4cdn.com/335191765/files/doc_presentations/2020/SMT-Corp-Presentation-August-3.pdf

      • On August 5, 2020 at 1:33 pm,
        Excelsior says:

        With regards to your point: “Who knows what could happen down the road and every country for themselves?” –> I believe North American based Copper projects will start to get a premium over the ones in South America or Mongolia or middle Africa, so you have a good point there. One area that could be a huge boost to the red metal is if we start seeing the announcement of large national infrastructure projects. Lastly, the continued electrification of the emerging market nations will underpin solid demand for copper. When it starts to move it may blow away most of the other metals, but I still feel it is more Silver’s time to shine for the medium term.

        • On August 5, 2020 at 3:36 pm,
          GrowingTrees says:

          All great stuff! I have really been waiting on Copper and Uranium (I believe in both). I have some small positions in NXE and UUUU, FCX, and CPPKF, but I am hoping for general equities tank to fill those sectors. Oil being where it is may post pone the Uranium push? Economy blows up will post pone Copper too. Inflation is the real question to? So many truly unknowns…. market forecasting is as accurate as forecasting weather in Texas 🙂

          • On August 5, 2020 at 4:09 pm,
            Excelsior says:

            GrowingTrees – Yes, I’m a fan of both Uranium and Copper for the medium to longer term. I mentioned the Copper stocks I hold above (forgot to mention I have a tiny position in Cordoba as well, but it isn’t significant and I’m not a fan of Colombia anyway).

            As for the Uranium stocks, I also hold NXE and UUUU that you mentioned, along with URG, UEC, DNN, and AEC. I have profitable positions in all of them except AEC, but I’m still constructive on it for when the worm turns in the U sector. I don’t see Oil having much impact on the Uranium sector, as they are completely different markets and Uranium really needs a new longer-term contracting cycle to start from the utility companies to get things kicked off. Most companies are not going to produce for less than the high $40s to low $50s. It has been a looooong time coming in the Uranium space, but the supply has mostly been destroyed at this point, and Cameco restarting Cigar Lake will do little to change that situation.

            Until then, good luck in the markets.

          • On August 5, 2020 at 6:09 pm,
            Wolfster says:

            I added a copper play to my portfolio today as well….I picked up some kodiak….looking for near term producers in NA…Sun Metals is intriguing as they are part of the oxygen group who are solid and have been very very good to me.

          • On August 5, 2020 at 7:44 pm,
            Excelsior says:

            Wolfster – just as long as you didn’t add Kodak. 😉

          • On August 6, 2020 at 5:00 am,
            Wolfster says:

            Hahaha…..yeah no mixup there.😄

  8. On August 5, 2020 at 1:46 pm,
    Charles says:

    Regarding Copper, FCX has been doing quite well. Up another 7.88% today.

    • On August 5, 2020 at 3:38 pm,
      GrowingTrees says:

      Western Copper and Gold has been on a nice run too… $.33 to $1.21

      • On August 5, 2020 at 4:36 pm,
        Charles says:

        Nice!! 😎

        • On August 5, 2020 at 5:25 pm,
          RICHARD/DOC says:

          I own a considerable long term position in WRN and the chart looks a lot better then some that have had a long run—in fact I added a little yesterday.

  9. On August 5, 2020 at 2:41 pm,
    Excelsior says:

    (NVO (NSRPF) Novo Announces Upsize of Previously Announced Private Placement to C$42.5 Million and Concurrent Non-Brokered Private Placement of C$3 Million

    by @nasdaq on 5 Aug 2020

    https://ceo.ca/@nasdaq/novo-announces-upsize-of-previously-announced-private

    • On August 5, 2020 at 3:01 pm,
      Glenfidish says:

      Geeze forgive me spelling. Jerry I meant Gann report..$2160 target short term..

      All great points by you and ex! Looking for Matt’s revised weekly outlook and everyone else who chooses so. Doc feel free to voice yours!!

      • On August 5, 2020 at 4:35 pm,
        Charles says:

        Jerry wasn’t Michael Oliver suggesting gold could hit $2,300 before a meaningful pullback?

        • On August 5, 2020 at 4:37 pm,
          OOTB Jerry says:

          Yes,…….I think you are correct…

          • On August 5, 2020 at 7:19 pm,
            Excelsior says:

            On the Chris Vermeulen TA video posted at the very top of this blog. Chris see’s an upside Fib extension level of $2299 for Gold in this bull run.

          • On August 6, 2020 at 4:09 am,
            OOTB Jerry says:

            Seems to me, these guys are calling the estimate, well, after the numbers are in place, and not before the run up…….jmo
            Lot easier to put out an estimate, after the break out, of $1923,….than before the break out…….

        • On August 5, 2020 at 4:43 pm,
          OOTB Jerry says:

          I also, posted the Gann summary today., ..which was from today’s early morning call and is a little different than a couple of days ago…You might want to read both…. Today’s report…which indicates a higher price based on a historical record patterns..which are simular to the years 1978 and 2008…because some action in the markets, have change the projections, …You can go back and read it

          • On August 5, 2020 at 4:56 pm,
            OOTB Jerry says:

            Michael Oliver – No Correction For Gold Until At Least $2,100, Gold Price To Hit $2,600-$2,900 By End Of Year

          • On August 5, 2020 at 7:22 pm,
            Excelsior says:

            Well Gold is already at $2040 so $2100 gold is only $60 away, so that isn’t very far away at all.

            At the rate things have been climbing lately in the PMs we could be there by the end of the week or beginning of next week.

          • On August 5, 2020 at 11:03 pm,
            Excelsior says:

            In overseas trading this evening Gold is up to $2052 on the October futures contract, and $2062 on the December futures contract. It is really weird because some sites are displaying the October gold and others December gold.

            Either way it is very close to the $2100 level at this point.

          • On August 6, 2020 at 5:11 am,
            OOTB Jerry says:

            New Number is OUT………….. $2342………..for gold……..

          • On August 6, 2020 at 1:32 pm,
            Excelsior says:

            Duly noted.

  10. On August 5, 2020 at 7:40 pm,
    Excelsior says:

    Gold Price Rally Reaches New High

    Mining.com Editor | August 5, 2020

    “Gold advanced to a fresh record high on Wednesday – pushing towards the $2,050/oz mark after breaking through $2,000/oz on Tuesday on the back of a weakening dollar, falling US Treasury yields and expectations of more stimulus measures for the pandemic-ravaged global economy.”

    “What we’re seeing at the moment with the dollar, bond yields and gold are macro trades of concern – not just about the coronavirus but also about the fiscal cliff in the US,” Seema Shah, chief strategist at Principal Global Investors in London, told Reuters.”

    “Gold’s mega rally could extend even further as governments and central banks respond to slowing economic growth with vast amounts of stimulus. Analysts at Goldman Sachs Group Inc. recently raised their price target to $2,300/oz, up from the previous forecast of $2,000/oz.”

    https://www.mining.com/gold-price-rally-stretches-towards-2050/

    • On August 5, 2020 at 7:43 pm,
      Excelsior says:

      ^ Yet another $2,300 target. ^

      • On August 5, 2020 at 8:32 pm,
        Excelsior says:

        Gold At $3K? $50 Silver? BofA Raises Metal Price Targets

        Wayne Duggan , Benzinga Staff Writer – August 05, 2020

        “Gold traded at $2,057/ounce on Wednesday, with silver prices at $27.03/ounce and copper prices at $2.92/pound.”

        “Traders have been flocking to gold in 2020 as a safety investment during a period of economic uncertainty. Gold is also an inflation hedge after the Federal Reserve issued trillions of dollars of stimulus earlier this year. The Fed is expected to commit to near-zero interest rates until inflation hits its 2% target.”

        “More Upside Ahead: BofA Securities analyst Michael Jalonen said he’s bullish on gold, and BofA raised its average 2021 real gold price forecast from $2,012 to $2,159.”

        “The firm also raised its 2021 real silver average price forecast from $21.95 to $30.49 and its 2021 real copper average price forecast from $2.77 to $3.10.”

        https://www.benzinga.com/analyst-ratings/analyst-color/20/08/16946380/gold-at-3k-50-silver-bofa-raises-metal-price-targets

        • On August 5, 2020 at 8:36 pm,
          Excelsior says:

          ^^ “Continued fiscal spending as governments are mending the damage from COVID-19, backstopped by central banks means that interest rates will remain low, at the same time as the economy reflates,” Jalonen said in a note.

          “Investors can expect gold prices to peak at $3,000 within the next 18 months, the analyst said. At the same time, he said copper prices could rally as high as $50/ounce in the medium-term.”

          • On August 5, 2020 at 8:38 pm,
            Excelsior says:

            In that piece above I believe the author meant Silver prices could rally as high as $50 an ounce just based on the title and reality. $50 copper per pound would be mind-blowing. (lol)

          • On August 5, 2020 at 9:23 pm,
            Excelsior says:

            Gold Firing On All Eight Cylinders, While The U.S. Economy Sputters

            Gary Wagner – Wednesday August 05, 2020

            “Gold continues to mount daily gains with the most recent occurrences resulting in the precious yellow metal trading to a flurry of new all-time record high closes. For the last fourteen trading days, since July 17, gold pricing has closed higher on twelve of those trading days.”

            “One of the most impressive aspects of gold’s recent ascent occurred on July 27. This was the exact moment in time when gold futures (which opened above $1900) closed at a new all-time record high ($1930). The former all-time record high just above $1900 occurred in the middle of 2011. Gold prices have not looked back since. However even July 27’s new all-time record high was dwarfed by price action yesterday when gold prices broke above $2000 per ounce for the first time in history and closed at $2020.”

            “These gains are largely the result of the Federal Reserve’s attempt to curtail the contracting economy in the United States in unison with the vast majority of central banks globally as the coronavirus pandemic continues to tear apart recent economic growth. So severe was the economic contraction that recent data indicated that the U.S. economy had contracted approximately 33% last quarter.”

            During the last press conference held on July 29, Jerome Powell, Chairman of the Federal Reserve said, that the Fed is committed to “using our tools to do what we can, and for as long as it takes, to provide some relief and stability, to ensure that the recovery will be as strong as possible, and to limit lasting damage to the economy”.

            https://www.kitco.com/commentaries/2020-08-05/Gold-firing-on-all-eight-cylinders-while-the-U-S-economy-sputters.html

      • On August 5, 2020 at 8:42 pm,
        Excelsior says:

        Stunned By Gold’s Record Rise? There’s More To Come, Analysts Say

        Peter Hobson – August 5, 2020 – Reuters

        “The speed at which gold has broken above $2,000 an ounce has left some in the market fearing a correction, but many analysts predict more gains…”

        The record-breaking rally, which lifted gold XAU= as high as $2,055 on Wednesday, has made the precious metal one of 2020’s best performing mainstream assets.

        It has risen $500 this year, and $200 in the last two weeks alone.

        Taking out the totemic $2,000 barrier means investors must change their reference points, said Frederic Panizzutti at Swiss precious metals dealers MKS.

        “The adjustment will be higher. We are definitely in a bull run,” he said.

        https://www.reuters.com/article/us-gold-price-graphic/stunned-by-golds-record-rise-theres-more-to-come-analysts-say-idUSKCN2512MB

        • On August 5, 2020 at 8:44 pm,
          Excelsior says:

          ^^ Thank goodness the main stream media has showed up to point out that now that Gold is above $2000 an ounce that we are in a bull run. (hilarious, but better late than never)

          • On August 5, 2020 at 8:51 pm,
            Excelsior says:

            ~Newsflash: Gold bottomed in Dec 2015 at $1045.40 and has added $1000 since then and has been in a bull run the last 4 years.

            >> 5 year #Gold #chart:

            http://schrts.co/VNabtfUk

  11. On August 5, 2020 at 8:00 pm,
    Excelsior says:

    (TML) (TSRMF) Treasury Metals Receives Shareholder Approval for Acquisition of Goldlund Project

    by @newswire on 5 Aug 2020

    “Treasury will acquire all of the issued and outstanding shares of Tamaka Gold Corporation, a wholly-owned subsidiary of First Mining that owns a 100% interest in the Goldlund Gold Project, located adjacent to Treasury’s Goliath Gold Project in Northwestern Ontario.”

    https://ceo.ca/@newswire/treasury-metals-receives-shareholder-approval-for-acquisition

    • On August 5, 2020 at 8:02 pm,
      Excelsior says:

      (TML) (TSRMF) Treasury Metals: Acquisition of Goldlund and C$11.5M Upsized Financing Couldn’t Be Timed Better with Gold Reaching All Time Highs

      The Critical Investor for Streetwise Reports (8/3/20)

      “After a perfect storm seems to be aligning for gold, Treasury Metals seems to have done the Goldlund deal right on time. A combined PEA of both Goliath and Goldlund clearly has synergies, and almost doubles the hypothetical NPV5. The estimated IRR is just marginally lower, but at these gold prices the combined operation has a significant margin for error. Keep in mind that Treasury has options with funding Goldlund capex with internal cash flow, resulting in a much higher IRR, but a longer timeline to full production and full NPV. With the recently raised C$11.5 million, all the exploration potential as a wild card, and both the combined PEA and the Goliath PFS coming up this year with gold rising to all-time highs, the story for Treasury Metals looks better and better by the week.”

      https://www.streetwisereports.com/article/2020/08/03/treasury-metals-acquisition-of-goldlund-and-c-11-5m-upsized-financing-couldnt-be-timed-better-with-gold-reaching-all-time-highs.html

      • On August 5, 2020 at 9:35 pm,
        Buzz says:

        Great news, I topped out my position today on the open. 1st buy on Treasury was .28$ ish

        • On August 5, 2020 at 10:48 pm,
          Excelsior says:

          Nice work Buzz, and yes, I really love this Goliath & Goldlund combo meal.

          I trimmed 1/4 of my TML today but have been on a long journey with Treasury Metals. I initially picked up TML back on May 10th, 2018 @ $.44; but I then placed a bigger buy on March 20th @ $.16 coming out of the sector lows, then added more on June 11th @ $.42, then trimmed back the position on July 6th @ $.59, then but then added a part of that trimmed position back on July 27 @$.55.

          TML closed today at $.63 so it’s been a nice ride so far, and it’s just getting started.

  12. On August 5, 2020 at 8:05 pm,
    Glenfidish says:

    Hey guys,

    A late night discussion regarding fib count, gold price action, miners and overall trend!

    I just want to touch upon a few things that have stood out. Remember first and foremost we have the best of the best in here lead by many that have been before my time and I respect! I just add some powder. Also many greats have left the site on gone one to other things we know who they are.

    The list is so long in here in regards to the contributors who know there craft! The knowledge in here is on another planet and there is no other site that comes close. For me to reach out to others in here for there thoughts tells you the value of this jet and what o consider a friendly family. Yes from time to time we have even the best going at each other but that’s friendly competition and pride something I appreciate and personally think brings the best of us.

    Putting this all aside, I’m in complete agreement with doc, ex, Jerry and I believe Matt in saying Gary is wayyy to bearish and has not adjusted his analysis or cycle. Having read everyone’s opinion and insight, I’m 1000% convinced we are going above $2100 before we even think of correcting in any meaningful manner!! Having said that many fib extensions have gold going to $2123,$2160,$2223,$2300 etc before a gentle correction than higher.

    I’m not sure who it was that said the other day you must change with times not let time change you! God so bang on

    These are different times and Iam proof that i changed my game plan when gold went above my target! Test I didn’t sell because like Matt has said so many times watch the minute, daily movement and see what’s happening. You always have time to readjust!

    We look toppy here but we also look like there is no need to panic.

    I think as Matt has mentioned and ex and Jerry and doc now that the bigger drop comes from higher!!

    Cheers to all

    • On August 5, 2020 at 8:18 pm,
      Big Al says:

      Hi Glen,

      Since all I do now is politics, I have not communicated with you for quite some time. You are a good guy and I personally thank you for all of your input.

      • On August 5, 2020 at 8:25 pm,
        Excelsior says:

        +1

    • On August 5, 2020 at 8:22 pm,
      Excelsior says:

      Glenfidish – Very well-stated late night reflections and I very much agree. Thanks mate!

      • On August 5, 2020 at 8:30 pm,
        Glenfidish says:

        Right back at you ex! 😉

    • On August 6, 2020 at 3:23 am,
      Wolfster says:

      Hey Glenfidish……just so I don’t have to go back and check myself ……Was your call on $29-$30 silver by the end of the first week of August????? 🤑

      • On August 6, 2020 at 1:31 pm,
        Excelsior says:

        I think Glen had stated by year end, but damn Silver got to $29 quickly, and much more quickly than almost anyone expected (me included). It’s been a real surge higher without taking hardly any breaks, except at $26.27 and briefly heading back down to $23 for a day or 2 before surging back even higher. I’ll tip my hat to Glen for the good call, but he never mentioned anything about the first week of August. This is crazy!!!

  13. On August 5, 2020 at 8:07 pm,
    Glenfidish says:

    Doc/rich

    It nice to hear you don’t see that bearish drop as well! Having your experience and knowledge along side Matt, ex and Jerry is powerful!

    I need not to hear anything else.. I’m convinced the bigger drop comes from above $2300 and way higher when it comes.

    • On August 6, 2020 at 4:19 am,
      OOTB Jerry says:

      GLEN……..thanks for all your hard work as well………appreciate having you on the site…you add a lot to the conversation, and give us a chance to check ourselves and numbers…….best…….thanks again……
      Sorry for being late, just got back…..early morning Thursday….. 🙂

      • On August 6, 2020 at 4:55 am,
        OOTB Jerry says:

        Hey Glen…………new number is out…………. $2342…….gold……or higher……

        • On August 6, 2020 at 5:16 am,
          OOTB Jerry says:

          Then expect, or be on the look out for a big shake out……

      • On August 6, 2020 at 6:52 am,
        Canuckski says:

        Glenfidish, ‘Ditto plus’ on what Jerry said.

  14. On August 5, 2020 at 8:24 pm,
    Glenfidish says:

    Thanks Al!

    It’s my pleasure. I think well I’m if the belief that many in the ker care about your thoughts and more importantly your health..You started all this and like I have said you have the best technical gold and silver gurus of any i have seen! Tell Cory to come in from time to time. Important to give back to those who voice a platform.

    Thanks al!

    • On August 6, 2020 at 5:31 am,
      OOTB Jerry says:

      Ditto on the health Glen………best Big Owl needs some extra TLC….. 🙂

      • On August 6, 2020 at 5:33 am,
        OOTB Jerry says:

        Let go…….Let God…….sorry, just came to my mind….

  15. On August 5, 2020 at 9:29 pm,
    buzz says:

    The bear wasn’t near as much fun. Speaking of which, China buying the dips kept gold from going below $1000. Talk about double whammy, when it comes to economic warfare, they are probably dumping treasuries in favor of buying the dips for delivery in PM’s

    • On August 5, 2020 at 10:17 pm,
      buzz says:

      Speaking of which, since all dickster heads matter, mainstream America has missed the goldbug train, in favor of boarding the slow boat to China

  16. On August 6, 2020 at 12:13 am,
    Excelsior says:

    Silver futures prices at $27.70 in overseas trading.

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

  17. On August 6, 2020 at 5:06 am,
    Ozibatla says:

    This PM movement is just insane. I remember 2011 vividly but this seems next level! I keep waiting for the correction but maybe Im too conservative at this stage. Gold above $2050, silver above $28… WOW!!! A mind boggling thought: If silver is to truly play catch-up then really it should approach all time highs before gold increases any more substantially? Crazy times! Perhaps crazy is the new normal.

    • On August 6, 2020 at 5:13 am,
      OOTB Jerry says:

      Silver is lagging for sure…………target well above $49…..needs to be achieved, just to get started…..

      • On August 6, 2020 at 5:15 am,
        OOTB Jerry says:

        Anyone in here now, and does not chicken out……..will be happy…. 🙂

        • On August 6, 2020 at 5:36 am,
          OOTB Jerry says:

          Dang Silver…………….. $28………looking good…..

          • On August 6, 2020 at 5:40 am,
            OOTB Jerry says:

            US Mint shutting down production of Silver Eagles…….hummmm……think they know what is going on….. like duh…..

          • On August 6, 2020 at 5:41 am,
            OOTB Jerry says:

            Spot plus $10…..if you are lucky….

          • On August 6, 2020 at 6:34 am,
            Excelsior says:

            Silver futures at $28.30

            Gold at $2060

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

  18. On August 6, 2020 at 5:25 am,
    Dick Tracy says:

    Santacruz has been halted for ten days now, delays like this are unwarranted especially in this market. Uncertainty without communication is usually a bad omen. I just hope the clouded skies are brighter than they appear to me. DT

    • On August 6, 2020 at 5:28 am,
      OOTB Jerry says:

      Better look for some better companies…….me smells something fishy going on…. 🙂

      • On August 6, 2020 at 5:36 am,
        Dick Tracy says:

        Hi Jerry, filet mignon is smelling like a fish instead of prime steak.DT

        • On August 6, 2020 at 5:38 am,
          OOTB Jerry says:

          DT…..thanks for the info…….10 days is RARE……..hope you are not left with only a bone.

          • On August 6, 2020 at 5:40 am,
            Dick Tracy says:

            The bone is for the dog the meat is for the man. DT

          • On August 6, 2020 at 5:43 am,
            OOTB Jerry says:

            You better start barking at Santacruz…..

          • On August 6, 2020 at 5:46 am,
            Dick Tracy says:

            I would if I could find the tree they are hiding behind! DT

      • On August 6, 2020 at 6:38 am,
        Excelsior says:

        It a leap to suggest that because a stock has been halted for less than a week that it’s not a good company or that anything nefarious is going on.

        Santacruz announced the big news, (which is a positive), that they are buying out their 3rd and most profitable mine with a bright future – Zimapan in Mexico from Penoles. Previously Carrizal that they acquired 50% of in Q3 2019, and the other 50% of in Q4 of 2019 was only leasing it. The lease was set to end in December, which created some uncertainty, but now they’ll own it outright.

        This lull in the halt is likely the financing package to be able to pay for buying the mine, and while it may be somewhat dilutive, it is totally worth it, and a good reason for a capital raise.

        Let’s not throw the baby out with the bathwater here. Yes, I wish SCZ was unhalted while Silver is ripping higher, but longer term this should be a good thing for the company and shareholders.

        • On August 6, 2020 at 1:28 pm,
          Excelsior says:

          (SCZ) Santacruz Silver closed up 20.7% today, while many Silver miners pulled back down into the red. I guess it was worth the wait on the halt eh?

    • On August 6, 2020 at 6:42 am,
      Excelsior says:

      What is far more disturbing is why the rest of the Silver stocks that are unhalted are barely responding to $28.30 Silver. Even at $23 or $25 Silver most would have expected MUCH better performance from the Silver stocks, and at $26-$28 it should be stellar out-performance and multi-baggers in the Silver stocks, but that isn’t happening. My concern isn’t on the stocks that are halted, but on the ones that aren’t halted but not moving nearly as much as they should be.

      • On August 6, 2020 at 6:52 am,
        OOTB Jerry says:

        After silver takes out $49……the stocks will take off to the moon…..silver still has a lot of work , yet……
        I have said this several times,…this is a Three step process…gold, silver , pm stocks.
        Of, course you can think of mining, any way you want….
        I am only , considering the monetary side…, not the industrial side.

        • On August 6, 2020 at 7:28 am,
          Excelsior says:

          Sure a move to $49 would be great, but even a 25 cent or 50 cents move and silver usually had a big effect on the miners and we’ve had a run from 19 to 28 and the miners have barely budged.

          • On August 6, 2020 at 7:33 am,
            OOTB Jerry says:

            Do not take me wrong……….I am only looking at the BIG Picture, Long term projections.

          • On August 6, 2020 at 7:36 am,
            OOTB Jerry says:

            The public is not interested yet,……and the miners, are not on the radar , yet….

          • On August 6, 2020 at 10:16 am,
            Excelsior says:

            I think you just nailed it OOTB — there aren’t enough generalist investors, generalist funds, hedge funds, family funds invested in Junior miners, or miners in general…yet. Now that gold is garnering more headlines, maybe more will find their way into the gold & silver miners.

          • On August 6, 2020 at 10:42 am,
            OOTB Jerry says:

            Thank you kind sir…..just OOTB thinking…. 🙂

      • On August 6, 2020 at 7:02 am,
        David says:

        Silver is probably nothing more than a “good ol days” protect the shorts by JPM. In the meantime, Novo had a nice price drop in response to their new expenditures and financing. I added and added to Blackrock Gold. Now I will watch them work the miners lower while the physical is doing well. Miners probably hit because McConnell said Kentucky had a balanced budget and so did he. Sarc.

      • On August 6, 2020 at 7:04 am,
        Dick Tracy says:

        Ex, Santacruz was halted ten days ago not less than a week, the stock market is nefarious, how much of a stretch does it take for a company to release news saying they are in financing negotiations, something that would take 10 minutes out of one day. They have in my opinion poor public relation (PR) skills. DT

        • On August 6, 2020 at 7:12 am,
          OOTB Jerry says:

          Management, is one factor to consider, as DT knows, when buying or looking at a stock to own…..and bad PR, …is a management problem….jmo

        • On August 6, 2020 at 7:35 am,
          Excelsior says:

          DT. Santacruz was halted last Tuesday so OK it’s been a little bit more than a week, but that doesn’t mean it’s nefarious and they can’t release an update until they have the news. What’s the point of an update saying Hey we’re waiting on finishing this financing. They’ll get the news release out and then it will become on halted. Pretty simple.

        • On August 6, 2020 at 7:53 am,
          Excelsior says:

          Their management just sold some non core land for a great deal , and have bought this mine which is a huge win and that is great management. People are over reacting to this halt.

        • On August 6, 2020 at 1:27 pm,
          Excelsior says:

          (SCZ) Santacruz Silver closed up 20.7% today, while many Silver miners pulled back down into the red. I guess it was worth the wait on the halt eh?

  19. On August 6, 2020 at 5:59 am,
    Buzz says:

    Maybe they’re vacationing down in Mexico, partying up in Cancun

    • On August 6, 2020 at 7:09 am,
      David says:

      Cancun: Maybe partied in Cancun with college students and they all have Covid. The ICU won’t let them use the life support equipment for a PR.

      • On August 6, 2020 at 7:38 am,
        Excelsior says:

        We’ve been to Cancun twice and had a great time, and ironically were slated to go there or Italy on a vacation right before the covid 19 madness started. Obviously we opted for an in country vacation to Colorado

        • On August 6, 2020 at 7:41 am,
          OOTB Jerry says:

          Last time I was there in Cancun, was in the 70’s, just at the time they started to build up the area……great vacation ……

          • On August 6, 2020 at 7:51 am,
            Excelsior says:

            Yeah Cancun is great with several large eco-parks like Xcaret and xel-ha, Mayan sites, ceynote caves with water holes, snorkeling, beaches, and drinks in the sun.

        • On August 6, 2020 at 7:42 am,
          David says:

          I like the Italy idea. Now I have to live longer…conflicted world we live in.

          • On August 6, 2020 at 7:49 am,
            Excelsior says:

            Yeah, our plan was to fly into Naples and take the train to Sorrento, do the Island of Capri, then head down the Almafi Coast. Damn pandemic…

  20. On August 6, 2020 at 7:53 am,
    Rene says:

    Exc: And missed all the fun in the markets…probably you would have been glued on your screen the whole train ride..LOL

    • On August 6, 2020 at 10:12 am,
      Excelsior says:

      True Rene. I would have been distracted when the markets crashed in March, and probably would have spent less on vacation and bee glued to the screen. However, if there wasn’t the pandemic & business lockouts & shelter in place then those market gyrations would have been so dramatic. Regardless it was good to be home to watch more intently during that time period.

  21. On August 6, 2020 at 8:01 am,
    Rene says:

    Without the pandemic we may not had such dramatic moves , JMO

  22. On August 6, 2020 at 8:10 am,
    Rene says:

    Finally got out of my Pretium resources position..

  23. On August 6, 2020 at 8:14 am,
    Rene says:

    Thanks Exc for sharing Gold Ventures twitter account, very interesting to read his thoughts, todays was especially interesting to read on Silj

    • On August 6, 2020 at 12:58 pm,
      Excelsior says:

      Yes, I keep see other post Gold Ventures thoughts, or he’s recommended on others twitter feeds I follow, and seems to have a good grasp on the miners, fundamentals, and some techicals.

  24. On August 6, 2020 at 8:25 am,
    David says:

    Very few green. Azimut, Scorpio, Triumph only ones about 10% up or more. I give them 30 mins. Algos sniffing around for outliers. Smush theory. Page 37.

    • On August 6, 2020 at 1:22 pm,
      Excelsior says:

      ah yes…. Smush theory pg 37…. it can be a doozy…

  25. On August 6, 2020 at 8:33 am,
    OOTB Jerry says:

    I told you zerohedge was reading the KER…. LOL……… 🙂
    https://www.zerohedge.com/markets/despite-big-july-gains-silver-still-historically-undervalued

    Even with its big gains last month, silver is still a long way from its record highs. The white metal has a double-top of around $50. It first got to that level in 1980 and then again in 2011. Peter Schiff recently said $50 is the real resistance level. Once it breaks through, it will go much higher.

    Fifty-dollars looms very large. But there’s an old saying about these double-tops. I think they’re made to be broken, and silver is going to break this double-top. And the fact that it’s been there for so long means that when it does break — look out!”