Gold and Copper updates, plus a discussion on how to avoid major portfolio mistakes

May 31, 2021

Robert Sinn, better known as Goldfinger over at joins me to share his outlook for gold a copper as we roll into June. After a very good May for gold and a choppy but still positive month for copper there are a lot of bullish factors leading us into June. We also step back from the charts and discuss a couple key factors to consider when investing in resource stocks, especially the juniors. It’s all about understanding the possible catalysts and ignoring other backward looking aspects.

Click here to read a recent article by Robert focused on the copper market.

    May 31, 2021 31:01 AM
    May 31, 2021 31:42 AM
    May 31, 2021 31:48 AM

    Always nice to get @Goldfinger’s take on the technical set up in the metals, and his practical advise to investors on managing risk and investor psychology.

    His points today about approaching their positions with a fresh set of eyes is key.
    Often times investors are so focused on what they paid for their shares, that they are unwilling to sell a story that has devolved at a loss to rotate into a better opportunity, or conversely, overly eager to sell a winning stock too soon, without there being a fundamental or technical reason to do. Those are some great points to mull over when evaluating one’s portfolios.

    May 31, 2021 31:50 PM

    Lack of a Stop Loss can cause much damage.
    If a reasonable Stop cannot be found, why buy?

    May 31, 2021 31:51 PM

    i agree, excellent…

    May 31, 2021 31:11 PM

    OT, but apropos today: “Path to War”
    Not exact historically, but great characterizations.

    May 31, 2021 31:56 PM

    2021 Gold Summit….. Interview with Nigel Farage. Interesting interview 30 minutes , worth a watch….. IMO.

      May 31, 2021 31:05 PM

      Thanks for the Post…… good to see gold from another area of the world…

        May 31, 2021 31:07 PM

        Nice to hear Nigel’s background….

    May 31, 2021 31:15 PM


    To all my followers who love hearing what glen has to say but don’t value him lol, here goes…I feel like the opposition to trump lmao.

    I will address first one poster who is probably the worst trader I have honestly seen on ker his name is bonzo. Folks go back to history this ding dong which many of you gold bugs will defend had been buying since August highs like seriously the worst sheep investor ever.

    I better be careful my pal Ex Now nominated ceo of ker May come at me lol… Ex just a underslide joke! I appreciate you. By the way you are the man. I have loved your battles with Matthew over the years comical.

    I’m not here to spoil and party and I don’t pretend never have never will glen! You guys are going to get smacked in the next move down Im miners and that’s what I’m focused on! I will bet any hill billy in here bonzo? Sorry Matt you as well not that you are a hill billy lol, Jerry, dt scum I can’t stand and everyone else’s.

    Glen is the only one calling for one more down! If it happens all I’m saying is this, ex was nominated ceo then I think I should be president!!!


    * Cory you will never ever ever get more viewers without glen he is the bird but without bias becareful crowd a massive massive correction coming! Ann get ready to buy matthews shares lol..


      May 31, 2021 31:01 PM

      Glen, even if you were suddenly right, it wouldn’t change the fact that you completely blew it for the last three months straight. So you haven’t earned your cockiness.

    May 31, 2021 31:18 PM

    It’s not cockiness Matthew I don’t trade for pips like you do. 4-6 pips mean jack shites to me I trade bigger movers. Also you have been know today be wrong in many ocasiona just not one person calls you out because you send those confusing charts regarding this vs that and the market really doesn’t care.

    We can take cheap shots at each other and I really don’t want to go any further. Your impact will have to fill it’s gap and .46 is coming! Mark my words


      May 31, 2021 31:34 PM

      I have to admit that your irrationality continues to surprise me. “Pips”? Lol! No wonder my charts confuse you. You don’t have the foggiest idea how to use them. Sorry but that’s just a fact if you’re going to excuse your record by comparing the moves in GDX or gold to a few pips. Gold moved up $240+ off its low (LMFAO!) while GDX moved up $9.50 (31%)!
      NEM gained $21 (40%+) 🤣🤣🤣

      Back to the drawing board, Grasshopper.

        May 31, 2021 31:51 PM

        Really Matthew? I don’t trade gdx it’s puppet money for me! Secondly you have pumped impact since 1.25 all the way down and now sitting at .80 below it’s 10 ema the loser is you 🤔😃.. keep you the great work that you did telling investors to jump there hard working money into an overvalued asset while it was falling. Shame on you for making many people lose there money from 1.25 all the way down to .63 and let me tell you something mr gold bug lol it’s going lower whatvfork will you show them?

        You are the loser not me and you are a fake imo. I’ve come to the conclusion long ago that you are nothing more then a pump and dump and let me tell you I have plenty of evidence.

        Folks becareful you can kiss matthews ass but he is know to pump while things are at a top only to sell to you guys while it’s dropping read between the lines.


      Jun 01, 2021 01:43 AM

      Glen I do not post much. I sure like to hear what you have to say. I like the resource space and will invest in a iron mine as well as a silver one. Most the time I skip what the day traders are trading on and look for your name. Keep up the great work for investor life me.

        Jun 01, 2021 01:14 PM

        I bet there’s not one day trader on this site. I am sure not one and the majority of my positions have been held for over a year.
        Glen completely missed the major low of 3 months ago and there’s no good excuse for his remaining wrong. At the latest, he should have realized the low was in place on April 15th (gold closed at 1766 that day). An intermediate low qualifies as “major” but the gold low that happened in March was easily the most significant low in at least 2.5 years and possibly much more but we won’t know until later.

        IF gold pulls back now, it would be perfectly normal cyclically/technically. It has moved $245 off its low, is at resistance and is overbought on the daily chart. Still, I think it has a better than 50-50 chance at topping 1966 first. I sold nothing today and hedged nothing today.

    May 31, 2021 31:23 PM

    I’ve always respected you Matt but you have an act for emotionally getting so involved that if your not right you attack.. You better hope and pray that the market doesn’t take us down into that 78.6 fib for the miners. Eva use I tell you what, it’s screaming that. You will just have to adjust your forks. Not personal just business.

    For all you or any of you who appreciate me give me a holler!

    Jerry Matt could be right which to the way I have taken into consideration that double bottom shock looks flaky but non the less I respect Matt’s call but the miners nawww they want lower and Garay savages cycle combined with me and doc jume bad the market makers are taking shares lower


      May 31, 2021 31:31 PM

      Nobody…..should take any advice from me….. I am in PHYZ….

        May 31, 2021 31:53 PM

        Respect Jerry!

          Jun 01, 2021 01:57 AM

          Thank you Glen…..

      May 31, 2021 31:38 PM

      Glen, you’re projecting. You turned into an ass a long time ago and there’s something wrong with you if you don’t know it. You make an enemy out of anyone who disagrees with you and it is obnoxious.

    May 31, 2021 31:25 PM

    Forgive the writing and whisky! Go leafs go! Down 1-0 let’s see if we bounce and win

    May 31, 2021 31:57 PM

    Gold looks like it’s opening higher and green which means to the moon! It has now become linear and what very intelligent technicians wanted which means the move down will be vicious and steeper!

    20% cash ready to by the miners that have not bottomed example impact silver, and many many others… look for a 78.6 percent retracement on the miners as already 25% of them have confirmed. Don’t break a trend. The market makers will make it go lower don’t fall I love with pips!


    Jun 01, 2021 01:01 AM

    In overseas trading this evening the PMs are still well-bid.

    Gold up to $1915 (It will be interesting to see if it can clear that old 2011 high “memory” that Goldfinger mentioned, around $1921-$1923, on a closing basis).

    Silver currently at $28.45 (very close to that $28.50 resistance that several technicians have mentioned they want to see cleared on a closing basis).

      Jun 01, 2021 01:37 AM

      Then again, they call it “resistance” for a reason, and those may be the levels where the metals get swatted down from. Tuesday is going to be a really interesting trading session in the PMs.

        Jun 01, 2021 01:00 AM

        $1950…….. is the number…….. once it breaks that, whole new ball game…. jmo

    Jun 01, 2021 01:22 AM

    (SKE) (SKREF) Skeena Resources: High-Grade AWF Intercepts Strengthen Investment Thesis

    May 31, 2021 – T.D. – Seeking Alpha

    – Skeena Resources released new drilling results last week from the historical waste facility at Eskay Creek, reporting multiple intercepts above ~4.50 grams per tonne gold-equivalent.
    – While only ~5% of the area has been drilled, this is an encouraging sign for an area of Eskay Creek that was assigned minimal value.
    – Assuming the company can add meaningful ounces here, this would represent a very high-margin satellite area, with the potential to drain the lake to access the ore.
    – I continue to see Skeena as a top-takeover target and solid buy-the-dip candidate

      Jun 01, 2021 01:27 AM

      (SKE) (SKREF) Skeena Discovers Additional High Grade Mineralization in Former Eskay Creek Waste Facility Including 13.09 g/t AuEq over 13.68 metres

      by @accesswire on 31 May 2021

        Jun 01, 2021 01:32 AM

        (SKE) (SKREF) Skeena Resources – After Raising $57.5 Million, We Focus On The Key Catalysts This Year At Both The Eskay Creek and Snip Projects

        Korelin Economics Report – May 28, 2021

        “Walter Coles, President and CEO of Skeena Resources (TSX:SKE – OTCQX:SKREF) joins me to provide a comprehensive update of the work plans this year at both the Easky Creek and Snip Properties. After just raising $57.5million I received a number of emails asking how this money will be spent to continue to advance the Projects.”

        “Walter outlines the 25,000 meter drill program at Esaky that is 90% exploration focused, the upcoming Pre-Feasability Study, and what could be possible for yearly production at the Property. In terms of Snip there is 18,000 meters planned at this project, with a mix of exploration and infill drilling. Walter also highlights the recent high grade drill results from the waste area on the Eskay Creek Property.”

    Jun 01, 2021 01:42 AM

    Strike at BHP’s Chile Copper Mines Continues, No End In Sight

    Reuters | May 31, 2021

      Jun 01, 2021 01:44 AM

      Shanghai Copper Price Registers Second Monthly Gain On Chile Supply Concerns Staff Writer | May 31, 2021

      “Shanghai copper price registered a second consecutive month of gains on Monday as prices firmed on a potential supply threat in Chile and massive US infrastructure spending plans.”

        Jun 01, 2021 01:44 AM

        And drilling going on at kodiak,black wolf and gsp resources……June is result month if there’s no big backlogs anymore at the labs

          Jun 01, 2021 01:05 PM

          I’ve been impressed with the move in (WRN) Western Copper & Gold the last few weeks, as a Yukon developer with massive Copper/Gold reserves, that just had Rio Tinto come in as a stake holder.

          I like Kodiak, as well as Granite Creek, US Gold, and Dore Copper for a few more North American Copper plays.

    Jun 01, 2021 01:52 AM

    (WDO) (WDOFF) Wesdome Announces Closing of Previously Announced Sale of the Moss Lake Project to Goldshore Resources

    by @nasdaq on 31 May 2021

    Jun 01, 2021 01:53 AM

    (GBR) (GTBAF) Great Bear Strengthens Management Team and Provides Update on Regional Projects

    by @newswire on 31 May 2021

    Jun 01, 2021 01:07 AM

    Gold Has Moved Solidly Above $1,900 As The Fed Is Not Ready To Tighten Monetary Policy – Analysts

    Neils Christensen – Kitco – Monday May 31, 2021

    “Carsten Fritsch, commodity analyst at Commerzbank, said that the gold market benefits as real interest rates remain in historically low negative territory. They added that even if the Federal Reserve is talking about tapper its bond-purchase program, it is not in any hurry to act on those discussions just yet.”

    “As long as the Fed refuses to change its monetary policy in response to rising inflation, real interest rates will continue sliding ever further into negative territory, which is good news for gold,’ said Fritsch in a report Monday. “A glance at U.S. bond yields makes it clear that no rapid change in direction on the part of the U.S. Federal Reserve can be expected.”

    Rich Dvorak, market analyst at, said that he is also looking at further gains in gold prices as the U.S. central bank continues to maintain its “wait-and-see” approach and continues to suggest that rising inflation pressures are transitory.

    “Gold prices might even be headed for all-time highs if the U.S. Dollar weakens further and Treasury yields extend their slide,” he said.

    Jun 01, 2021 01:54 AM

    This is the BIGGEST NEWS YET………… JMO
    May the BIS advised that it was implementing new rules to govern international banks, regarding the presentation of amounts of gold which they hold, which are no longer to include “unallocated gold”.

    It has been the operations with “unallocated gold” i.e. “mythical gold” which have allowed the most important banks of Britain and the US to control and suppress a market price for gold. Under the new rules which are to be presented in full on June 28 of this year, the price of gold will no longer be subject to manipulation on the part of the US and the UK, because the most important banks of these countries will no longer be able to count on “unallocated” – i.e. non-existent gold – for their collusion regarding price control of the metal.

      Jun 01, 2021 01:17 AM

      If it is true it will have consequences.
      Or maybe they chose now because we are already in a bull market anyway?

      Gold drops today by $15-$20, is that the glenfish prediction realized?

        Jun 01, 2021 01:19 AM

        You better ask him directly…..

          Jun 01, 2021 01:38 AM

          Interesting the evil Russians and Chinese finally justify the gold bugs.

          Course anyone that opposes our central banks has got to be evil.

            Jun 01, 2021 01:41 AM

            Yes, conspiracy thinkers are evil… lol… THE HOUSE OF ROTH…… and Slavery……

        Jun 01, 2021 01:28 PM

        The email is from a KWN reader: I shared these thoughts with friends, based on the Hugo Salinas article today…..

        Friends: This short article linked at the bottom is very interesting and could have epic effects on the financial markets worldwide, especially in the US and UK.

        It basically explains that the accounting method of using ‘paper gold contracts’ that have been used for decades by US and UK banks to “sell” paper gold contracts and suppress the price of gold are coming to an end. A rising gold price means that currencies (backed by nothing but government fiat/laws, are becoming less valuable, less desirable, and their value in the world will fall.

        This threatens the stability of national currencies and their entire economic systems. The primary way governments and banks have kept the gold price from exploding for decades is by constantly selling tons of ‘paper gold’, gold contracts for gold that does not even exist, and that is more than the annual mine production of the metal. The way banks have been able to do this is by an accounting trick allowed by the BIS (Bank of International Settlements) to count those paper gold contracts on their books as an asset, and not a liability.

        This article indicates that Russia and China have threatened the BIS with changing the game and backing their two currencies with gold, which they have been accumulating for a long time. This would make their currencies much more desireable and stronger than the USD or any other currency. If the US loses its ‘world reserver currency’ status, it will no longer be able to spend more than it makes, or creates, by real labor and production of goods. This could be catastrophic for the US economy…(this is like taking the credit card away from a spoiled rich kid who doesn’t work and only charges things using daddy’s credit card- he’ll be broke, since he doesn’t work and doesn’t get paid)…

      Jun 01, 2021 01:29 PM

      Very interesting…

      Jun 01, 2021 01:55 AM

      Long Term Update:

      The massive C wave is in force, and a lot of upside action is projected.

      Our first projection for the end of wave ^iii^ is:

      ^iii^ = 1.618^i^ = 2687.80.

      Our current projected endpoint for all of wave *iii* is:

      *iii* = 1.618*i* = 2306.30.

        Jun 01, 2021 01:56 AM

        FROM THE ARTICLE……… but, I think it is realistic….. JMO

          Jun 01, 2021 01:18 AM

          I sometimes think I will take the course on the code thats written in.

            Jun 01, 2021 01:20 AM

            up and down…….. and finally up….. 🙂

            Jun 01, 2021 01:32 AM

            At any point predictions have a 50-50% chance of being correct.

            The real smart people understand what went up will come down or when down it will go up.

            Other people say predicting a time frame is a suckers game.

            Personally I think Bob got it right, buy whats cheap and sell expensive, hurts when ya sell ur bitcoin for a few hundred and you watch it go to 60k. 😉

            Jun 01, 2021 01:42 AM

            If, we have a 50-50 % chance of being right……..
            That will put us in the TOP 1% of Gurus….. 🙂

            Jun 01, 2021 01:09 AM

            This could be a short term top for gold as I warned on the weekend show. The daily chart is extended. Either way, I stand by my comment that a pullback now would be no big deal from a weekly chart perspective…
            “Keep in mind that we still could get a sharp pullback in a week or two (of course possibly even sooner) but I am not at all worried about technical damage to the weekly chart which also means that I am not worried about new lows coming our way or anything even close.”
            — — — — —

            Glen thinks gold is going to a new low and that is extremely unlikely.

            Short term, gold has given reason for caution for over a week now:

            Jun 01, 2021 01:12 AM

            Bigger picture, gold looks perfect so a pullback would just be a buying opportunity. To predict or be concerned about a new low at this time is, frankly, absurd.

            Jun 01, 2021 01:21 AM

            My most recent purchase was SILJ and it still looks good. The dip this morning looks like a gap-filling exercise but it’s been too strong to get it done completely.

            Jun 01, 2021 01:03 AM

            thanks for the comments … Matthew…

    Jun 01, 2021 01:24 AM

    Took some Emerita profits while it is correcting and picked up Westhaven again on goid drill results. Will be looming to add back Emerita during rest of week. FWIW info.

    Jun 01, 2021 01:31 AM

    Left over funds added a few to Copper Lake. Also looking to add to Granite Creek this week. We will see.

      Jun 01, 2021 01:35 AM

      Was about to sell Silver Viper when it went below .40 a few weeks ago. Instead, I added and it has been on a roll and +20% today. Not sure what that down and up is all about but may be good for a watch list to see.

    Jun 01, 2021 01:40 AM

    The gold miners are getting ready to shoot higher versus the stock market.
    HUI:DIA weekly:

    Jun 01, 2021 01:44 AM

    For risk management purposes, I recently sold my HL and GFI and bought SILJ.

    Jun 01, 2021 01:49 AM

    If GDX fails to break out to a new short term high (as SILJ already has), the downside will probably be 4 to 5 percent.

    Jun 01, 2021 01:27 AM

    Keep those updates coming Matthew. Always appreciate having a visual to go with what you’re saying

      Jun 01, 2021 01:09 AM

      Boy does that sum up a bunch of long discussions lately. 🙂

    Jun 01, 2021 01:28 AM

    Nice bonus for my gsp resources that I bought for the one property they are drilling next to kodiak. From a poster on ceo.
    very nice valuation arbitrage opportunity in $GSPR : $FMM optioned 60% of olive mountain for cash and shares, leaving $GSPR with 40% plus shares in FMM. Now FMM has ZERO other assets than this option. It has a makretcap of almost 40millin Can$ – $GSPR has 2 other projects, cash very little float and MC of only 7 million. so based on Olive mountain $FMM valuation $GSPR must triple to match. Taget 1$ for GSPR . $FMM now 60 cents.

    Jun 01, 2021 01:29 PM

    I find it strange that the US is the only market in the world that doesn’t like PMs.

      Jun 01, 2021 01:02 PM

      That’s an interesting point David. In most other countries there is an inherent respect for Gold and Silver, but in the US they are considered pet rocks or barbarous relics.

      However, at least the US still has gold reserves as a country. Canada sold all it’s gold, as one of the mining capitals of the planet. Go figure…

    Jun 01, 2021 01:24 PM

    Sorry Ex, Rubin depleted at least 1/3 of Fort Knox 1996-99 by means of leasing/ sale

      Jun 02, 2021 02:53 AM

      Interesting. Well, the point was that the US still reports having gold reserves, whereas Canada has zip.