Is sentiment in gold stocks finally at a bottom?

August 19, 2021

Eric Wetterling, Founder of The Hedgeless Horseman joins us to share his thoughts on the continued under-performance of the gold shares, especially the juniors, compared to the gold price. Erik has argued that gold stocks have been cheap and on sale however prices have continued to fall. We balance out the very low sentiment for stocks while the gold price is trying to hold recent lows.

Click here to visit Erik’s site and read over all of his articles.

    Aug 19, 2021 19:42 AM

    Are the metals the only items of production that go down in price when cost of production goes up. Why would we ever rationalize the validity of the “Paper Contract Markets”. If costs go up to produce an item, then if you want it, you pay more. There is no “except for metals” rule. That is nothing but illegal manipulation.

    Aug 19, 2021 19:06 AM

    Time for the Justice Department to start working for the People.

      Aug 19, 2021 19:23 AM

      There is NO JUSTICE DEPT for WE THE PEOPLE…… Total joke……
      only AGAINST , WE THE PEOPLE…..

    Aug 19, 2021 19:08 AM

    August 2018, one possibility :

      Aug 19, 2021 19:46 AM

      This example is related to the miners — not the metals, which may have bottomed.

    Aug 19, 2021 19:12 AM

    This whole illogical price hit looks to me like they are trying to get “value purchases” by insiders by driving out legitimate share owners. A big fraud.

      Aug 19, 2021 19:21 AM

      Hang in there David……… it can not go in just one direction forever…, the worm will turn when you least expect it…. 🙂

        Aug 19, 2021 19:30 AM


        Aug 19, 2021 19:59 PM

        Agreed OOTB…. and the early bird gets the worm. 😉

    Aug 19, 2021 19:22 AM

    Worst of Day: Emerita, Great Bear, Vizsla, Big Ridge, Labrador, E79, Group Ten, Discovery, Metallic, Aurcana and Blackrock.
    What do they have in common: Good Drill Results and Possible Good Resources. Something to think about.

    Aug 19, 2021 19:24 AM

    Buy right, sit tight! Bought back NFG and added to KNT this morning! 75% invested.

      Aug 19, 2021 19:26 AM

      tight is right…. Livey more.. me some gold…. lol

      Aug 19, 2021 19:31 AM

      Good purchases. Keep them in friendly hands.

    Aug 19, 2021 19:25 AM

    Hey Glen…….. just toughing base with you…. I have not forgot your request…

      Aug 19, 2021 19:31 AM

      Hey Jerry,

      Yes going to reach out to Cory to consent my email to you and if you could do the same would make the process faster lol 😆

        Aug 19, 2021 19:35 AM

        Ok, did not know that was the way we were going to handle it,,,, but, that SOUNDS GREAT… 🙂

          Aug 19, 2021 19:43 AM

          GLEN………… just emailed Cory…. giving him permission… for you only…. 🙂

            Aug 19, 2021 19:55 AM


            I thought that was the only way without directly putting it on here. I have matthews and docs email and now yours 🙂

            Aug 19, 2021 19:00 PM

            Ok……. good thought….

    Aug 19, 2021 19:38 AM

    glug, glug, glug

    Keep trying to catch that falling knife, suckers.
    You’re losing 1-2% a day, maybe even more, while the rest of the market stays fairly flat.
    Just wait until the real selloff begins, most of these stocks will go to book value or lower. They’ll probably be trading for cash, or less, by end of October.

      Aug 19, 2021 19:51 AM

      Love it when you talk dirty Joe.
      All in all, gold is down roughly 10% since last August. Not exactly armageddon. Most producers however anticipating a lot more. we shall see very soon.

    Aug 19, 2021 19:46 AM

    Here comes the EOD buyers. Probably not Retail.

      Aug 19, 2021 19:01 PM

      Sorry. Wrong time zone. Another hour.

    Aug 19, 2021 19:47 AM

    Thanks Erik for your expressed attitudes and thoughts. I needed your words today.

      Aug 19, 2021 19:21 PM

      Very welcome and glad you liked it!

      I think there are pretty much no bulls left and miners are diverging more from gold which signals emotional selling (peak pain). Bottom should not be far off IMO.

      All the best,

      Aug 19, 2021 19:55 PM


        Aug 19, 2021 19:57 PM

        Great in interview Thanks HH.. Cory..

    Aug 19, 2021 19:56 AM

    Gann Global is expecting a most probable turn any day. When it turns, and it will, don’t expect then to purchase the low……….it will be well above where you can likely get it today. JMO

      Aug 19, 2021 19:03 PM

      Thanks for sharing that. I completely agree with Gann Global and wouldn’t doubt that we are seeing the lows today.

        Aug 19, 2021 19:41 PM

        I would like to agree with Gann Global as I look at these market actions versus the serious need for mine development to provide the necessary materials in the world that is currently envisioned and wonder what the markets are basing this totally contrary move on as it is not logical or rational.

        Aug 19, 2021 19:43 PM

        Jackson Hole: Oh yes…we still have the children to think of…

      Aug 19, 2021 19:33 PM

      I would’t expect much action until after JHole – so we may see another high volatility (and undercut in miners/silver) monday on the 30th

    Aug 19, 2021 19:57 AM

    Great interview…. LOL
    You can hear the anxiety and desperation in his voice increase with each interview.
    Can’t wait for his capitulation interview, where he talks about selling out of many of his positions because he couldn’t take the pain anymore.
    Should be soon, probably by about this time next month.

      Aug 19, 2021 19:03 PM

      any desperation is that he can’t buy enough fast enough. Very frustrating to be taken to a candy store and told not to touch.

      Aug 19, 2021 19:19 PM

      I’m not like you. I actually buy bottoms and don’t chase tops, sorry.

        Aug 19, 2021 19:04 PM

        +1 Great point amigo. Don’t mind Joe our community troll.

        We hear all the time that investors like to “buy low and sell high;” but they don’t really.

        As we’ve mentioned on here for years, most investors like to “cry low and buy high.”

          Aug 19, 2021 19:13 PM

          Buy low…and sell high……. or just hold for the LONG TERM… lol…
          most people do not have a clue as to the real return over the last 50 year…

            Aug 19, 2021 19:57 PM

            Agreed. OOTB. Thanks!

            Aug 19, 2021 19:34 PM

            No problem… Ex….. You have been around the block a few times, …
            and I appreciate your work, as I have told you a few times…
            you deserve the backing…

            Aug 20, 2021 20:05 AM

            Much appreciated OOTB. Yes, been around the block a few times…. School of hard knocks 🙂

          Aug 19, 2021 19:29 PM

          +1 David! The heavy hitters in here pretty much in consensus the low is very very close! If anyone cares I’m going shopping for iamgold possibly tomorrow or soon.. I did give my target.. plan on using .6% which would leave me in with a total of 96% all in!


      Aug 19, 2021 19:30 PM

      Joe, I haven’t heard any anxiety or desperation from Erik. He built a rationale for his thesis and supported it with his own personal examples. I’m a little anxious but not yet desperate. How about you..anxious and desperate?

    Aug 19, 2021 19:53 PM

    The manupalators are going to keep kicking us in the bo**icks , but we must show them , that we have steel bo**icks , & they are going to get a sore foot , before we give up. Stand your ground … Never Let The Bastards Get To You.

      Aug 19, 2021 19:04 PM

      Yeah KER community should start its own #silversqueeze on reddit 😉

        Aug 19, 2021 19:06 PM

        Haha! Good one DariusPL. I’m fine with Silver in the $20’s, and have little doubt it will eventually take out it’s overhead resistance at $29 and finally break into the $30s. When that happens shorts will cover and we will likely see a squeeze.

        Until then, batten down the hatches until the PM storm passes. 🙂

        Aug 19, 2021 19:10 PM

        SILVER MINERS SHOULD start a …………. UNION….. or CABAL… lol…….
        and screw the Fake FED and JMP… and the CRIMEX… lol……..

          Aug 19, 2021 19:15 PM

          People do not even consider the TAX SAVINGS to be added for holding long term.
          Lost on the stupid… lol………

            Aug 19, 2021 19:16 PM

            Just ranting …. pay no attention … 🙂

      Aug 19, 2021 19:06 PM

      Agree. Appears orchestrated all the way into the close. The shorts have no fear of being caught in a squeeze…how can they be so sure. I wonder what the Fed is so afraid is going to happen at Jackson Hole that they fear the metals so much. All questions that have been pending for over 100 years. The system is broken has got to be the answer. The lies can’t support the agnenda anymore. I guess we see what happens next.

        Aug 19, 2021 19:22 PM

        With 4th wave just around a corner they have no choice but to deliver a dovish statement – that should be the catalyst for PM to finally show some strength

      Aug 19, 2021 19:35 PM

      Illegitimi non carborundum!

    Aug 19, 2021 19:09 PM

    America’s Looming Sovereign Debt Crisis

    by Sean Brodrick – August 19, 2021

    “The clock is ticking on America’s debt ceiling crisis. The debt ceiling is the federally mandated limit on how much money the U.S. can borrow to pay its bills.”

    “And we’re already in this crisis. It began at the end of July when a Congressional suspension of the federal debt limit ended. We’ll run smack into a wall on Sept. 30 — that’s when emergency funding measures will be exhausted, and the U.S. could go into default.”

    “What happens between now and then could shake the market to its roots. How do we know? Because we’ve seen this story play out before in 2011.”

    “During that standoff over the debt ceiling, the S&P 500 sank by more than 18%!”

    “What’s more, the U.S. went into technical default for four days. Federal and state governments were roiled by temporary layoffs that echoed through the economy.”

    “This time around, the political battle lines are drawn sharper and harder…”

    Aug 19, 2021 19:28 PM
      Aug 19, 2021 19:35 PM

      If there is anything we can all agree on is the majority of the smart folks here at the ker family regardless of ego and type A personality’s including myself is the low is very close. Further to this I believe speaking for myself and I believe the rest we won’t be shaken out lol. Never!

      Load the boat or back up the train has been used here through the years! Now everything aside, it would be nice for my pal Matthew to through us a monthly chart we’re here believes could be this final low. As we all mentioned when it comes it will be swift and fast! Ex mentioned this as well..


      P.s horse welcome to the ker!

        Aug 19, 2021 19:17 PM

        Those who use monthly charts to look for evidence of a low do not know what they are doing.

          Aug 20, 2021 20:40 AM

          I think that an absolute crock of shites! But to each there own. I use it in conjunction with weekly and daily but I’m looking for the longer trend not day trading or pips.

            Aug 20, 2021 20:53 AM

            Sorry but it’s not a crock and day trading has nothing to do with it. Your monthly charts won’t look good until WAY after the sector has bottomed which is why you missed the low in early March and remained bearish even at the low in late March. Gold then went up $250.

      Aug 19, 2021 19:38 PM

      Thank you for this update BDC! Can you elaborate what he is saying? Seems he says cyrpto the reason. I tend to look at things much more simple..For me it’s deflation which gold has sniffed since august and miners soon to explode up sniffing Injection alone from Canada billions plus billions in a riding fight.. Can’t even imagine what the great us will pump?


        Aug 20, 2021 20:02 AM

        Armstrong is always worth a listen. Best to take from it just what you find useful.

        P.S. Spot Gold’s spike low wick last week was the second deepest in history. Deepest was in 2011.

        P.P.S. I’ve been an infrequent visitor here a long time. In 2014 my prediction that the Dollar Index would go above parity (100), when it was consolidating around 80, soon came true. Not a good technician/trader (at that time), but good memory: 12 years earlier (2002) very significant gaps had formed in the DXY at around 101. All such in the primary currency will fill. Eventually.

    Aug 19, 2021 19:21 PM

    PM investing is a rollercoaster ride. Valuation extremes in each direction. All PM stocks trade like options, even most big caps. You have to have a very strong stomach and conviction to invest in the PM stocks. We are at or extremely close to a bottom. DSI is about ZERO for PM stocks. They are a steal. Be right, and sit tight.

    Aug 20, 2021 20:24 AM

    London walk down and now New York. Fed is concerned …about the Fed.

      Aug 20, 2021 20:29 AM

      The Fed wants to instill fear by showing how they can control markets. However demonstrating market control reinforces “market coruption”. Unintended consequences of asserting “power”.

      Aug 20, 2021 20:32 AM

      The Fed wants to impart fear in the markets by demonstrating control. The unintended consequences are that control implies corruption.

    Aug 20, 2021 20:38 AM

    PM Movers:
    Low MaxSat(7) reached by many.

    Aug 20, 2021 20:39 AM

    Anybody know why Banyan had an opening pop of + 40%?

      Aug 20, 2021 20:44 AM

      Schwab error. Using wrong closing data from yesterday.

    Aug 20, 2021 20:51 AM

    The fed is done. They are soaking up debt to default and implode.
    They don’t even control payment systems any longer.

    Erik holding his mining stocks reminds me of all the bag holders in real estate back in 2007.
    Gold is about to make a large move…! Look at the flat momentum indicators on that weekly chart. Look at the flat bollinger band width on the daily chart. The longer that stuff stays flat,, the bigger the move… In golds case, the move will be down.
    I wander how long that bollinger band width can stay flat?🤔

    I think this coming washout will finally get rid of the companies with no value (which there are several). And that’s a good thing moving forward.

      Aug 20, 2021 20:57 AM

      We’ve been waiting for many years for you to get something right and we’re going to have to wait much longer based on your current outlook. You don’t understand the Fed or the power it represents nor do you understand gold.

        Aug 20, 2021 20:06 AM

        Obviously he absolutely does not understand

          Aug 20, 2021 20:16 AM

          He never has.

        Aug 20, 2021 20:09 AM

        Did you read the article from zero hedge in posted yesterday?
        That article explains “why” gold will drop like a rock.
        The charts “show” gold “will” drop like a rock.

        Whe gold drops and the fed implodes, I’ll just say, told ya so.
        Meanwhile you keep calling a weekly bottom (like you have for the last year), okay?
        Oh yeah, watch what happens on that monthly chart when it breaks the 18 month moving average. ..uh,..yeah)

          Aug 20, 2021 20:15 AM

          Lots of publications explain lots of things all the time and in all market sectors and are wrong. If you get to say “I told you so” it will be the first time.

            Aug 20, 2021 20:26 AM

            Well, the guy that wrote the article made the case for gold going up. He did great explaining the information. He just didn’t know how to interpret the info.

            I’ve been out of mining stocks for many months now. And you? You just keep trying to catch that falling knife…
            And these charts you keep posting , saying, “ right here is the bottom”. Over…and…over…again..
            Spoiler alert: the only people that think you’re good at reading a chart, are those that can’t.

            Aug 20, 2021 20:40 AM

            I’ve mentioned several times before that my approach to the tiny cap speculative stuff is very different than trading the larger liquid miners that you find in the ETFs and it has worked very well for me. I exited all the larger caps that I bought in Feb/Mar and have begun to buy them back (with an emphasis on SILJ and GDXJ, so far.
            Your reading comprehension is about like Glenn’s if you think my showing possibilities is the same as calling lows. I present charts to show where the sector is at along with straight forward points about support/resistance, positive/negative divergences, etc., while you guys pontificate from time to time and never make a case for anything.

            Aug 20, 2021 20:57 AM

            I bought all major weakness in 2015 and said so along the way while ding dongs like Birdman did nothing but squawk hysterically that I was “catching a falling knife” and distract everyone from what they should have been considering. In your case, I get the feeling you don’t invest at all and it would be good for you if you don’t. Every one of your bearish gold calls have been wrong by miles and you report them right when you should be buying!

    Aug 20, 2021 20:55 AM

    SILV – added @ $7.00

    Aug 20, 2021 20:43 AM

    My IPT position is now twice what it was earlier this summer.

      Aug 20, 2021 20:15 AM

      the battle of respective egos

        Aug 20, 2021 20:37 AM


      Aug 20, 2021 20:25 AM

      IPT is looking very attractiveI I don’t own it yet. I vaguely remember .29 being discussed recently here… don’t remember the poster or why the .29 cent share price.

        Aug 20, 2021 20:37 AM

        It was Glenfidish calling for 29 cents but such a 30%+ plunge from here would require a big drop in silver since smart money would be on the buy button heavily as it goes low. All the weakness so far has happened on light selling volume with few buyers but another big dip would bring out lots of buyers (my opinion, obviously).
        Cash, cash flow, revenue and earnings are all far better now than when people were pay $1.25 a year ago. Cash balance is up 4-fold, for example. Plenty of drill results are coming, too.

    Aug 20, 2021 20:18 AM

    Thank you very much for your feedback.

      Aug 20, 2021 20:52 PM

      You’re welcome.
      I bought more IPT today along with BBB and KTN.