The CoT reports are telling an interesting story about investor demand for precious metals
Craig Hemke kicks off today’s editorials with comments on the precious metals markets. We start by recapping the recent Commitment of Trader reports that have shown a general decline in investor interest. Next we discuss what Powell’s comments yesterday mean for the long term outlook for old and silver.
PRINT…….all they have left…….KIS…S…..
Central Bank Insanity Rules
Holger Zschaepitz: Biggest experiment in monetary history: Central banks are almost engaged in a battle over who can rumble their printing presses the loudest. SNB and Bank of Japan lead the race.
Gold bears and Silver bears ALREADY had their faces ripped off this year. 🙂
Pardon me if I don’t shed a tear for them… (lol)
Bear and grin it …….. Gold going up… 🙂
That would be a heads up..
🐻 🤑 💀
Bring on the bear squeeze and rip-their-face-off rally.
They might just get ripped off what’s left of their faces.
OOP T……. 🙂
One World Ordering…..lol
Jobs Iphone, or Gates tracking system…..pick one…
https://www.zerohedge.com/geopolitical/top-beijing-official-warns-chinese-consumers-will-abandon-iphones-if-us-bans-wechat
Sprott Money News Weekly Wrap-up – 8.28.20
“Eric Sprott discusses the events of the past week and explains again his rationale for investing in silver and silver mining companies.”
https://soundcloud.com/sprottmoney/sprott-money-news-weekly-wrap-up-82820
There is a GOOD interview …………at kitco……with Casey and Rule……….
Yep, I had posted it on the Wednesday Chris Temple blog, but since you mentioned it…
Doug Casey and Rick Rule: ‘The Greater Depression’ and fate of the global economy (Pt. 1/2)
Kitco News – Aug 26, 2020 #VIDEO
“This year, the global economy has contracted at a pace previously unseen. However, the crisis this year was only the trigger for what would otherwise have been an inevitable collapse in our economy.”
“Doug Casey, founder of Casey Research, and Rick Rule, president of Sprott U.S., discussed with Kitco News the underlying fundamental problems with not just our economy, but society at large, that have been brewing for years.”
I had also posted this one with Rick Rule on that same blog and thought this one was better:
Rick Rule On Future Of Gold, Uranium, Copper, Coal And More
George Gammon – Rebel Capitalist Aug 21, 2020 #VIDEO
This was also a good listen of the gyrations to come in the world currency and trade situation from two brilliant pundits. I’ve followed them both separately for a while now, but apparently they just met, had a Twitter quarrel, but by the end of this interview they are now bros.
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The Dawn of Chaos: Central Banks and the Dollar (w/ Hugh Hendry and Luke Gromen)
Real Vision Finance – Aug 11, 2020 #VIDEO Discussion
The End Game Ep. 3 – Mike Green
Grant Williams Podcast – July 6, 2020
“Bill and Grant welcome a towering intellect in the shape of Mike Green of Logica Advisors, to discuss the role passive investing may have to play in The End Game.”
“What follows is a good old-fashioned schooling, as Mike outlines the genesis of his work on passive’s effect on the markets, the extraordinary influence it has on the world today and the way that’s likely to change as we move towards The End Game.”
“If your head isn’t spinning after this remarkable conversation, then that sure as hell isn’t Mike’s fault…”
Mike Green: Makes you want to move to New Zealand or just dig a hole and live in that.
I went back and listened to the Mike Green thing again. It is concerning since it seems possible. He seemed to be saying that “passive investing” (through companies like Blackrock or Vanguard, mutual funds, etc) where the investor just turns over his/her money for someone else to invest it, and the very good possibility that the entity buying the markets does not keep a cash position, then it is possible that all passive entities could be so completely “all in” to the markets as a “Group”, and the very small % of investors that continue be active investors like many of us, who are also all in to a sector where they have no interest in the General markets driven by passive sources and no real cash because of our small area of interest, then:
it is very possible that if there is a sudden sale of the General Markets, thereby triggering the algos of all passive investments, there may be no one with the capability to buy the other side of the sale. The end result is a “no bid” market with no one in the passive sector or any sector able to get out.
Mike Green also talked about Hitler and the Natzis setting up a never failing market. They wanted the great fascist state to demonstrate it strength. In order to trade, it was set up that you could only buy or sell (I think it was more than just buy), you had to follow an all time high. Does that sound familiar with the fiction of todays General Markets. He further added that professionals may have or are exciting the General Markets leaving primarily retail passive investors.
If no one can make an exit from a market that goes no bid, there isn’t too much side line money that can go to the metals unless that move has been made before the General Market collapse. It could put the metals market in a no bid also.
Not sure if I am close on all that, but if so, it is something to think about.
Mike Green said (I think) that if markets go “no bid” they will have to be shut down and possibly will need Fed intervention.
He added that after the War, when everyone was trying to get Germany back on track, they decided to eliminate the Nazi rule there having to be a new all time high and the market dropped 90% in one day. That should also be concerning.
Update: I just realized I had posted Part 1 on Wednesday, and what is out today is Part 2 — with regards to Rule & Casey’s Kitco interview.
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Doug Casey, Rick Rule: Investing in gold stocks, Africa; millennials should do this (Pt. 2/2)
Kitco News – August 27, 2020
“Investors of all ages, and especially millennials, should seek markets that will give them an unfair advantage. Doug Casey, founder of Casey Research, and Rick Rule, president of Sprott U.S., said that great opportunities lie in the gold mining sector, as well as emerging and frontier markets, like Africa.”
Yes, Doug Casey and Rick Rule are part of the aristocracy of mining intellect. There are a few posters around here that are in my opinion part of the same club. Doug Casey has always fought to be himself, he sees what happens to society when it bows to group think. DT
Stick a fork in him, Casey is history, hasn’t had an original Investing idea in 14 years. I’ll give him credit though, he called the morass the country has been in since 2007, The Greater Depression, in 2006.
Good thing, never change,…..it just takes time for some to get the message… 🙂
things….
Gold Needs to “Glow Up”
August 25, 2020 – Peter Grosskopf
“As of August 24, gold bullion1 has gained 27.13% YTD and 39.74% YOY. Gold mining equities (SGDM)2 are up 38.85% YTD and 61.54% YOY. This compares to 7.55% YTD and 11.96% YOY returns for the S&P 500 TR Index.3 Silver has posted outsized gains, climbing 49.03% YTD and 50.00% YOY.”
> Gold is a Mandatory Portfolio Asset
“Now that gold has powered over $2,000, it’s an excellent time to take stock of what has been accomplished by the monetary metal and what may lie next. As for my Gen-Z “Glow Up” reference (and more below), conversations with my 16-year-old daughter are a constant reminder that I, too, like the gold market, need some updating and modernization…”
https://www.sprottmoney.com/blog/Gold-Needs-to-Glow%20Up-peter-grosskopf-august-25-2020
That is like duh…. lol. > Gold is a Mandatory Portfolio Asset
Peter is the CEO of Sprott Inc, so I felt it was good to hear it from him, versus us. 🙂
Back in April he felt Gold was going over $2000+ (obviously it did, but back then it wasn’t obvious to many, and almost nobody thought it would happen as fast as it did).
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Sprott CEO Peter Grosskopf: Gold’s Technicals Point to $2,000+/oz
MiningStockEducation – April 7, 2020
“Sprott Inc. CEO Peter Grosskopf sees $2,000+/ounce gold on the way as well as opportunities right now to invest in quality junior miners with upcoming catalysts. In this interview Peter offers his view on gold and the current economic situation. He also answers questions about the Sprott Inc. business.”
Turmalina drills 109 m of 4.9 g/t Au at San Francisco
2020-08-28 09:55 ET – News Release
Dr. Rohan Wolfe reports
PHASE TWO DRILLING INTERSECTS FURTHER HIGH-GRADE GOLD-SILVER-COPPER MINERALISATION INCLUDING 109M AT 4.9 G/T AU, 109 G/T AG AND 1.1% CU (7.5 G/T AUEQ)
Aftermath Silver increases private placement to $15.6M
2020-08-28 10:34 ET – News Release
Mr. Ralph Rushton reports
AFTERMATH SILVER INCREASES PRIVATE PLACEMENT TO $15.6-MILLION
Aftermath Silver Ltd. is increasing its previously announced non-brokered private placement (see news release dated Aug. 26, 2020) from 19.25 million shares to 24 million shares at a price of 65 cents per share.
Mr. Eric Sprott will increase his investment in the financing in order to hold approximately 19.9% of Aftermath issued and outstanding Common Shares, post-closing.
(REG) (RGLSF) Regulus Provides Update on Resumption of AntaKori Drilling Program
by @nasdaq on 27 Aug 2020
> John Black, Chief Executive Officer of Regulus, commented as follows:
“We are very excited to get back to drilling at AntaKori following a lengthy delay due to COVID-19 restrictions. We see testing the Anta Norte targets as the next step in unveiling the true size potential at AntaKori. Prior to getting our new drill permits, we have only been able to test the southern fringes of these targets, but despite that, most of those holes encountered significant mineralization, including some of our best holes to date. ”
https://ceo.ca/@nasdaq/regulus-provides-update-on-resumption-of-antakori-drilling
diMartino-Booth comment on yesterdays Fed meeting/statements.
https://www.youtube.com/watch?v=2LiyBP0TKgk
10 more Years of the same……..
Gold going up……$$4000 plus….
Gold futures at $1978
Silver futures at $27.70
https://www.investing.com/commodities/real-time-futures
GDX up 3.44%
GDXJ up 4.36%
SIL up 3.87%
SILJ up 4.52%
A nice way to cruise into the trading on Friday afternoon.
I subscribe to jsminset. Listening to Jim Sinclair and company proved to me they are some smart dudes. To listen how much Sinclair has thought about for this mining company has made me a holder. TRX: daily, weekly, monthly look pretty good, trades NYSE, 172,000,000 float, about to be a producer. Worth a look.
I have followed TRX, for years…….I would think, at a min. this stock is a 10 bagger….jmo
GrowingTrees/Jerry, I’m on that wagon too. Though, I’m still 27% below my original buy in on TRX. Sinclair firmly believes its a very solid play. Further, alot of investors poured money into this one at a way higher price. Been watching it slowly creep back up, and am pretty certain it’ll go far beyond… unless, of course, they get chased or taken out by the locals. I’ll be keeping it for a while.
You guys make a good point that this one has been hyped in the past, had a fortune of money poured into it, and many investors are likely underwater on it still, but the company has advanced their oxide portion into small-scale production to help with funding the much larger sulfide deposit further down and capex needed to put it into production. It may be the perfect time to catch TRX’s “Golden Runway.”
(TV) (TREVF) Trevali Announces Positive PFS For Rosh Pinah Mine Expansion (“RP2.0”); Increases Production Capacity by 86% and Significantly Reduces Operating Costs
25 Aug 2020
Ricus Grimbeek, President and CEO, commented: “Over Rosh Pinah’s 50-year operating life the mine has processed close to 30 million tonnes and today we have 16 million tonnes in resource, inclusive of reserves, with several advanced exploration targets ready to drill. To match this exceptional ore body, the RP2.0 PFS recommends an 86% expansion to the existing production capacity by sizing the infrastructure to a nominal throughput of 1.3 Mtpa. This yields an 11 year mine life and post expansion, reduces the AISC to an average of $0.64 per pound of zinc. This positions the asset well into the bottom half of the industry’s cost curve and will ensure the operation’s resilience and robustness through the commodity price cycle.”
https://ceo.ca/@nasdaq/trevali-announces-positive-pfs-for-rosh-pinah-mine
Why Do Humans Turn To Gold In Times Of Crisis? It’s Just Metal
Brent Schrotenboer – USA Today – August 28, 2020
Exchange-traded funds that track gold pulled in a record net inflow of about $50 billion this year through July, according to the World Gold Council.
►The U.S. Mint has sold almost four times as many ounces of American Eagle gold coins this year than all of last year, up to 589,500.
►Even legendary investor Warren Buffett, who once mocked gold as an investment, now has a $564 million stake in a gold-mining company through his own company, Berkshire Hathaway, according to regulatory filings on Aug. 14.
“A big part of the answer in times like this is that gold is a “real” asset, meaning physical and tangible, unlike electronic money. It’s also virtually indestructible, unlike paper money. All gold that ever existed theoretically still exists, even though it’s also rare enough to all fit in a cube measuring about 90 feet per side, according to the World Gold Council, a market development organization for the gold industry.”
“I don’t have a lot of faith and confidence in the U.S. dollar,” said Kevin Mohler, an investor in Alabama who recently bought about $10,000 in coins. “But when it comes to gold and silver, it has a worldwide value that can be exchanged for other currencies. And I see it doing nothing but getting stronger.”
Mohler, 33, said the disclosure by Buffett’s company was a “buying signal” for him considering Buffett’s previous stance on gold. He said the rising national debt of more than $26 trillion increased his concerns about the dollar and led him to buy more.
“The allure of gold is twofold,” said H.W. Brands, a history professor at the University of Texas.
One reason, he said, is that gold “is impossible for humans to manufacture, and therefore is free from hyperinflation worries.”
The other big reason is its longtime luster. “It is pretty,” said Brands, author of the “The Age of Gold,” a book about the worldwide rush to California after gold was discovered there in 1848.
Brands said the first reason leads to rational investment in gold, when some investors are worried about price inflation and the growing national debt. He said the second reason leads to irrational investment at times when “the world seems a strange and disconcerting place, as it does now.”
https://kingworldnews.com/todays-takedown-was-almost-all-levered-futures-selling-and-gold-bears-may-get-their-faces-ripped-off-plus-all-time-high-and-more/
Gold Bears May Get Their Faces Ripped Off
Fred Hickey: “Gold bears throwing everything they’ve got (during the usual witching hour) in another attempt to break 1920 technical level. Trying to create a “sell the news theme.” However, if they fail (again), their faces may get ripped off. Clearly, this is almost all levered futures selling.”