Negative Real Rate, Fear Around The World, Weaker Economic Data, All Helping To Drive The Precious Metals

February 21, 2020

Craig Hemke joins me for the last daily editorial of the day with a focus on gold and silver. With silver and the gold stocks closing in on recent breakout levels the stage could be set for these to play catch up to the gold breakout. There are a number of factors driving the precious metals higher and now the market is starting to predict a Fed rate cut sooner rather than later.

Click here to visit Craig’s site – TF Metals Report.

    Feb 21, 2020 21:55 PM

    Corvus drills 19.3 m of 2.79 g/t Au at Mother Lode
    2020-02-20 07:33 ET – News Release

    Mr. Jeffrey Pontius reports
    Corvus Gold Inc. has received positive assay results from the upper part of its first diamond core hole in the North Deep target (ND), designed to evaluate the intrusive connection to the Mother Lode gold system at depth. Corvus believes that these encouraging results continue to demonstrate the expansion potential of the Mother Lode gold system and its increasing association with higher grades (see attached table) in both gold and silver. In addition, geologic data from pending holes suggest the ND mineralized zones are flattening or uplifted as they continue to the north with an expanding intrusive zone and stronger alteration. Due to the initial encouragement of the deep diamond drilling, the company has expanded the program with an additional diamond core rig.

    Feb 21, 2020 21:01 PM

    Outcrop Gold receives $1-million investment from Sprott
    2020-02-21 12:53 ET – News Release

    Feb 21, 2020 21:11 PM
    Why would anyone think it’s a good idea to start teaching children about things like masturbation, oral sex, and gay sex in elementary school? Because radical progressives like “leaders” in Washington state want to take parenting out of the hands of parents.

    Feb 21, 2020 21:49 PM

    Hi Reports Trump is shluting , cursing, and very angry as he trys to fire almost everyone who has made the slightest critizem of him. suse collins is now 1 % below her rival sara in maine. bloomberg can crush trump with his money . AMY is my candidate for now love to you all S

      Feb 21, 2020 21:55 PM

      Really? You mean reports that comes from Bloomberg? Or CNN, Wapo, MSNBC? You mean those trustworthy “news” outlets? Those “news”outlets that predicted that Hillary would win? Or that Russia helped Trump?
      Nice try…

      Feb 21, 2020 21:04 PM

      Russell, with all due respect, you’d be better off on a ranch rustling cattle. Or you could go to Spain & play with the real bulls. Either way, time shall tell–

    Feb 21, 2020 21:50 PM

    My CDE got slammed today. I suspect it will do a FR and AEM and bounce a bit.
    At least BBB showed some life signs.

      Feb 21, 2020 21:26 PM

      As for CDE Coeur they announced late Wednesday that they took a hefty impairment charge on their Silvertip mine, so the slamming is understandable.

      Coeur Reports Fourth Quarter and Full-Year 2019 Results
      Feb 19th, 2020

      $250.8 million impairment, and temporarily suspending mining and processing activities at Silvertip – Reduction in carrying value to $150.0 million and temporary suspension of mining and processing activities driven by further deterioration in zinc and lead market conditions as well as processing facility-related challenges. The Company plans to (i) double its exploration investment in 2020 to potentially further expand the resource and extend the mine life, and (ii) pursue a mill expansion to improve the asset’s cost structure and its ability to deliver sustainable cash flow”

        Feb 21, 2020 21:35 PM

        Are still bullish on CDE or have this
        Info changed your mind?

          Feb 21, 2020 21:02 PM

          I really like Coeur, but this Silvertip news that just broke has caused me a moment of pause to reconsider. Thank goodness I had reduced my small position to really small position 2 weeks back in order to add more to (SVM) Silvercorp which had experience a waterfall selloff (where there wasn’t a clear issue like there is here with Coeur); so this move down didn’t really hit me very hard.

          I guess I’m in hold mode with what I have left, and was tempted to add today to CDE, until I saw the “why?” behind the liquidation selloff.

          Mining, it’s a tough business plagued with problems, and it’s a mystery that so many companies enter the space every year, when so very few will succeed.

    Feb 21, 2020 21:14 PM

    Silver Price Update + Breakout Trigger

    iGold Advisor – Christopher Aaron – Feb 20, 2020 #VIDEO #TechnicalAnalysis

    Feb 21, 2020 21:14 PM

    Deficit Should Keep #Palladium Price On The Boil

    Bruno Venditti | February 21, 2020

    “Tight supplies for palladium have continued to feed its price rally. A report from chemicals company Johnson Matthey estimated that the supply deficit for the metal widened to nearly 1.2 million ounces last year and is expected to deepen this year, as stricter emissions legislation in China and Europe will drive up vehicle palladium loadings.”

    Feb 21, 2020 21:00 PM

    Prof. Frances Boyle says he has found that the Wu flu virus was created in a lab at UNC and sold for millions to the Chinese lab in Wuhan. It was made to be super contagious.
    Many millions will die.

    Feb 21, 2020 21:02 PM

    The Chinese are definitely taking Quarantine seriously:

    Feb 21, 2020 21:16 PM

    Irish Drug Dealer Loses £46m Bitcoin Codes He Hid In Fishing Rod Case

    Rory Carroll Ireland correspondent – Fri 21 Feb 2020

    “Collins used the proceeds to buy 6,000 bitcoin in late 2011 and early 2012 when the fledgling cryptocurrency’s value hovered around $5.”

    “Amid wild gyrations its value rocketed. Bitcoin is currently worth $9,673 £7,524). To protect his fortune from hackers Collins spread it across 12 accounts, each with 500 bitcoin. Then he stored the codes in what is probably history’s most costly aluminium cap.”

    “In early 2017 Clifton Collins, an Irish drug dealer, had a dilemma: where to hide the codes of his illicit €55m (£46m) bitcoin fortune.”

    “His solution was to print them on to an A4 piece of paper and stash it in the aluminium cap of a fishing rod case kept at his rented home in Farnaught, Cornamona, County Galway. It seemed a good idea at the time.”

    “Then three things happened. Police arrested Collins after finding €2,000 worth of cannabis in his car. He was sentenced to five years in jail. The landlord of the Galway house had it cleared out, resulting in Collins’ possessions being taken to a dump.”

    “The codes are now missing, meaning the accounts cannot be accessed.”

    “Clifton Collins fears fishing gear was taken to dump by his landlord after he was jailed…”

      Feb 21, 2020 21:19 PM

      The Irish should stick to what they know best, rum running, transferring cargoes of whisky by night on the high seas, and hijacking beer trucks. Once they get their hands on cannabis they fall to pot. LOL! DT

        Feb 22, 2020 22:35 AM

        We may have to send IrishTony on a mission to the dump with a metal detector to try and find the aluminum cap of that fishing gear and recover those Bitcoin codes. 😉

        Unlike a traditional bank where you could recover you account or show ID to get access to your account if you misplaced your card, if one loses their Crypto wallet codes, they are out of luck (even if they have the luck of the Irish).

    Feb 21, 2020 21:19 PM

    Seems like fake news to me. Why is someone worth forty odd million still be drug dealing?
    I don’t believe it. Too stupid.

      Feb 22, 2020 22:41 AM

      The guy printed off his codes to store them in fishing tackle before getting arrested, and having his stuff get tossed by his landlord, so he likely is that stupid. Whether he really had that much Bitcoin could be debated, but the police did seize over a million in Bitcoin a 6 figure cash grab, so he doesn’t sound like the sharpest tool in the shed, and if he bought 6,000 Bitcoin when they were $5 and now they are near $10,000 a piece, that explains the large figures stashed away.

      From the alleged fake news: (call that police department and ask them if you don’t believe it).

      “Collins had codes to additional bitcoin accounts valued at €1.5m. Those, plus more than €100,000 in cash, have been seized.”

        Feb 22, 2020 22:43 AM

        If you doubt the veracity of the story, call the Irish Criminal Assets Bureau and ask them about it. Just claiming a story is fake news is just as “fake” of a assertion.

        “The ultimate loser may be the Irish state. The Criminal Assets Bureau thought it had hit the jackpot when it confiscated the accounts. “The mnemonic key for the bitcoin is unable to be accessed at this stage,” said a gardaí spokesman. Authorities hope they may some day gain access.”

          Feb 22, 2020 22:53 AM

          Ex, CFS doesn’t have a sense of humor. DT

    Feb 21, 2020 21:31 PM

    Same newspaper…..more FAKE news.

    How do I know its fake….look at the source: University of East Anglia. They’ve been caught faking results on climate change before…..actually cheating on the numbers.