US/China Trade Comments and PMI Data – Markets Moving With An Inflationary Bias

June 23, 2020

Chris Temple joins me today to recap the back and forth comments on US/China trade from Peter Navarro and President Trump. The downbeat comments by Navarro dropped futures and global market late yesterday but Trump’s more positive comments turned them all around in time for today’s open. We also have some PMI numbers that were a little better than expected.

Overall markets are moving to a more inflationary trade as US markets and gold and gold stocks are moving higher with the US dollar dropping again.

Click here to visit Chris’s site and keep up to date on the companies he is following and his broad market comments.

    Jun 23, 2020 23:16 AM

    Interesting commentary as usual.
    Correct me if I am wrong. Americans are not the largest purchasers of Gold and the Canadians, ah yes the Canadians and their no Gold position.
    In 2008 I said we in the U.S had to start thinking a little bit more like the Asian when it came to the Precious Metals.
    President Trump can say he is tough on the Chinese, but the millenials are catching on as to who lends Elon the Billions so he can put U.S astronauts into space.
    Much like the Russian Boogey man narrative when Russia was transporting our Astronauts to the space station.
    I take you back to President Bush’s treasury Secretary Hank Paulson when he said that Goldman Sachs relationship with the Chinese was better than the State Dept.
    At this point I will say that anyone who votes for Biden is Certifiable in my book.
    Previous discussion about Japan and the Louve is interesting as well as Jim Baker was Treasury Secretary during the negotiations and as we speak his Law Firm is representing the Saudi’s against the Class Action Law Suit of the Families for 9/11 Justice.
    The indescretioins of our past are not going to solve our mistakes in the future.
    With that being said I believe the markets have been Green lighted until the Election.

    Jun 23, 2020 23:29 PM

    Gold just delivered its highest daily close since October, 2012.
    1950-2000 in Q3? I think so…

    Jun 23, 2020 23:50 PM

    Some nice moves in the Silver Explorers and Developers today. Dolly Varden rule the roost, up over 29% on the day.

    Symbol – Silver Explorers & Developers – Daily Change %

    DV.V Dolly Varden Silver Corporation +29.41%
    AHNR Athena Silver Corporation +23.08%
    WRM.AX White Rock Minerals Ltd +20.00%
    ABRA.V AbraPlata Resource Corp. +20.00%
    EQTY.V Equity Metals Corporation +20.00%
    SPD.V Silver Predator Corp. +16.67%
    SSE.V Silver Spruce Resources Inc. +14.29%
    BRC.V Blackrock Gold Corp. +13.04%
    SNG.V Silver Range Resources Ltd. +11.11%
    BTT.V Bitterroot Resources Ltd. +10.00%
    RRI.V Riverside Resources Inc. +8.11%
    CCW.V Canada Silver Cobalt Works Inc. +7.84%
    AXU Alexco Resource Corp. +7.77%
    MSV.TO Minco Silver Corporation +7.55%
    KTN.V Kootenay Silver Inc +7.02%
    CLZ.V Canasil Resources Inc. +6.67%
    CCM.TO Canarc Resource Corp. +5.88%
    BCM.V Bear Creek Mining Corporation +5.68%
    IVR.AX Investigator Resources Limited +5.56%
    SVB.TO Silver Bull Resources, Inc. +5.56%
    DSV.V Discovery Metals Corp. +5.43%
    DEF.V Defiance Silver Corp. +5.26%
    NBR.V Nubian Resources Ltd. +5.00%
    SIL.TO SilverCrest Metals Inc. +4.40%
    GRSL.V GR Silver Mining Ltd. +4.26%
    ELEF.TO Silver Elephant Mining Corp. +4.00%
    AZS.AX Azure Minerals Limited +3.33%
    NUAG.V New Pacific Metals Corp. +3.26%
    MTR.L Metal Tiger plc +3.09%
    MAG.TO MAG Silver Corp. +3.00%
    BBB.V Brixton Metals Corporation +2.70%
    G1A.AX Galena Mining Limited +2.22%
    VIPR.V Silver Viper Minerals Corp. +1.28%
    MMG.V Metallic Minerals Corp. +1.18%
    SVE.V Silver One Resources Inc. +1.04%

    Jun 24, 2020 24:01 AM

    I took a bit off my DV position today and redeployed as my position size had gotten to large and think it could pull back here a bit.

    Jun 24, 2020 24:46 AM

    HUZZAH! — Gold-Silver ratio just broke back NORTH of 100

    Jun 24, 2020 24:35 AM

    Good call Chris! I redeployed into a gold stock so I am happy I did. We will see how long the retracement lasts, but I was expecting a hit to the general market and thought it might take silver with it.