An extended conversation with Peter Boockvar – Inflation, commodities and US markets

August 28, 2021
Full Weekend Show

A big shout out to Shad who held down the fort this week while I was away. It was a busy week and he covered some great topics on markets and the Jackson Hole meeting.

On this Weekend’s Show we have an extended chat with Peter Boockvar. Please keep in touch by emailing us at either or

  • Segment 1 and 2 – Peter Boockvar, Chief Investment Officer at Bleakly Advisory Group and Editor of The Boock Report joins us for an in depth discussion on the big picture catalysts for the markets. We focus on inflation, Fed policy and China’s roll in certain stocks on markets. Click here to visit Peter’s website – The Boock Report
  • Segment 3 – Replay from Friday’s Editorial – John Feneck, Portfolio Manager and owner of Feneck Consulting, joins us today to unpack the news from Jerome Powell’s speech at Jackson Hole, and discuss general markets and mining stocks. Stocks mentioned were US Gold Corp (USAU), Fury Gold (FURY), Fabled Silver (FCO) (FBSGF), Aftermath Silver (AAG) (AAGFF), Golden Minerals (AUMN), Canadian Palladium Resources (BULL) (DCNNF), Group Ten Metals (PGE) (PGEZF).
  • Segment 4 – Replay of the Company Update interview with GR Silver Mining. Marcio Fonseca, President and CEO of GR Silver Mining joins me to recap the initial silver resource estimate for the Company’s Plomosas Project in Mexico.

Exclusive Company Updates and Commentary The Week

Peter Boockvar
John Feneck
Marcio Fonseca – GR Silver Mining
    Aug 28, 2021 28:24 AM

    Great interview of Peter Bookvar. One comment I would have is concerning miner success in a world of changing costs: Most businesses are able to adjust price when costs of production go up or down. The price of metals produced by miners is determined by a derivative unrelated paper markets by entities not necessarily associated with mining at all. If miners are to sustain predictable/long term investment activity then the fraudulent paper market has to be eliminated. Miners should be allowed to participate in the semblance if a free market that other types of producers experience. Manipulation should not be acceptable for any form of capitalistic business endeavor. Passiveness is equally dangerous.

    Aug 28, 2021 28:52 AM

    The Risk Has Now Shifted To The Upside In Gold Stocks

    David Erfle – Friday August 27, 2021

    “Although Powell signaled to the markets that the Fed is likely to initiate the tapering of its bond purchase program sometime in 2021, it also appears that the Fed Chair wants inflation so he will be able to eventually raise rates when inflation and growth are accelerating at a greater pace.”

    “The news that the Fed punch bowl (QE) would not be taken away any time soon sent benchmark U.S. Treasury yields and the U.S. dollar lower, while pushing equities to all-time highs. The lack of tapering news also cleared the path higher for gold, and as bullion broke above $1,800 and its 200-day moving average, the safe-haven metal is eying the next strong resistance level around $1,835 going into the monthly close next Tuesday.”

      Aug 28, 2021 28:14 AM

      Gold closed the week at $1819.50, with a solid greed day.

      The pattern of higher lows has so far been maintained for the whole larger bull market (even despite the corrective leg over the last year). The low in Gold for the year was 5 months ago now, at $1673 in March. The recent test at $1677 was, in fact, a higher low once again.

      Gold closed for the 3rd week in a row above the key prior resistance and now support of $1750-$1760, and above the resistance at $1817.30. All in all, a great way to close up the week for the yellow metal and the PM sector.

        Aug 28, 2021 28:16 AM

        As mentioned yesterday, it is also significant that on the daily Gold chart that it broke out and closed decisively above the 100 day SMA and 200 day SMA. Reclaiming a closing price above those moving averages as we wrapped up the week was an encouraging sign for the yellow metal as well.

          Aug 28, 2021 28:57 AM

          Are Powell’s Comments Enough To Kickstart September Gold Price Rally?

          Anna Golubova – Kitco News – August 27, 2021

          “Gold saw immediate gains following Powell’s speech at the Jackson Hole Economic Policy Symposium. December Comex gold futures jumped more than $25 on the day and last traded at $1,820.70 an ounce.”

          “Powell sounded more cautious than other Fed officials when talking about tapering, stating that the central bank could start reducing its $120 billion in monthly bond purchases this year.”

      Aug 28, 2021 28:16 AM

      I am planning on miner follow through Monday. Thanks Ex and Cory for another great week of information and interviews. This site is the place to go.

        Aug 28, 2021 28:22 AM

        Thanks David. We do our best to make this an interesting, entertaining, and insightful place to come for all, and absolutely appreciate all the solid input, participation, sharing of great info from the good folks in the KER Crew.

        As for trading next week: That sounds good to me David, if we see a follow through in the miners on Monday, or really next week in general.

        I’ve mostly blown my dry powder stash at this point, buying back most of my tax loss sales (from July) over the course of last week’s trading. I’d also added to a bunch of positions and started a few new ones back in July with the funds from the tax loss sales that I’m not immediately replacing.

        Ready for the next leg of the voyage… sails are set…

          Aug 28, 2021 28:54 AM

          I rolled most of my tax loss sales as I sold. Since most of my miners have been flat, I am waiting for an upturn to see which ones go or need trading back to some of the good stocks I sold for a loss. No complaints so far.

            Aug 28, 2021 28:59 AM

            Yeah, I sold about 2 dozen, and used the 1/2 the tax loss sale funds to rotate into a few news positions and beef up a some other core positions in late July, and then used the 1/2 to buy back the dozen I wanted back over this last week. No complaints so far here either, as most of those new positions are in the green now.

      Aug 28, 2021 28:20 AM

      It’s funny how a lot of people still hang off of every whisper that comes out of Chairman Powell’s lips, for me he is about as important and smart as “The Head Clown at Buckingham Palace”.

        Aug 28, 2021 28:34 AM

        I completely agree DT. You know my opinion man, I can’t stand hanging off every word of these Fed officials and the myopic focus of the markets on what they say when they usually backtrack, flip-flop, reverse course, make a pronunciation, then act surprised when things don’t go as plan, then act like it was the plan all along, and ultimately just keep printing more money and their pedal to the metal, and have for 12 years now since the Great Financial Crisis of 2008-early 2009.

        The “emergency” and “temporary” — (think “transitory”)– quantitative easing has been going on for a dozen years now, and they’ve yet to dial back their massive accommodative $120 Billion per month of bond purchases, and get us out of the “emergency” period; nor have they come anywhere remotely close to “normalizing interest rates.” This is not by accident. They are scared to death of deflation, and are trying to inflate their way out of a financial black hole, and keep creating more and more money from debt, but on the other side, don’t really want to get to hiking rates, as they can’t ever afford to “normalize” rates again in the 4%-7% range, or they’ll get crushed by their bloated debt load on the balance sheet.

        The whole thing is a wild and wooly charade, but we still need to cover it, as everyone else has “Laser Eyes” on every breath each Fed official takes…. Sadly, the reactions to Fed statements do cause short-term moves the markets, and it is ultimately their actual policies that cause longer term trends to develop.

        Look at what happened on Friday, where the markets and the precious metals rocketed higher on the admission by Powell of the shorter-term market vulnerability and the move of tapering from Sept back to November. It’s all pretty silly , but it is what it is…

          Aug 28, 2021 28:10 PM

          Ex, look at the character of the stocks that are leading the advance, they are tech stocks and it is hard to tell whether they have a future or not. They are not solidly conservative companies that have a future. How do you put a value on something that isn’t United States Steel, is there a future for even Google, Facebook, Apple, Tesla, Twitter, what is the future, how do you select something that has a future. You can’t you must be a trader. Most people aren’t traders. That means you lose in our World.

            Aug 28, 2021 28:44 PM

            Some solid points there DT. Yes, there is little doubt that everyone is piled into the Tech stocks and there doesn’t seem to be an end in sight for the mania high flying FAANG stocks etc…. as Facebook, Apple, Amazon, Netflix, Google, Tesla, Virgin Galactic etc… keep on rocketing higher.

            Those were our very questions for a few guest this week like TG Watkins, Joel Elconin, or Dana Lyons, and they addressed the never ending surge higher in these stocks, and the lack of breadth.

            You won’t like the crypto first part of this from TG, but check out his comments on the general markets and the “piling into the same few tech stocks” at the (6:40 second mark and beyond on his views on the piling in of the tech stocks):


            Aug 28, 2021 28:48 PM

            DT – Check out the (4:50 min mark) on this one from Joel Elconin earlier in the week, because we discussed the S&P 5 + 1 (instead of the S&P 500), and I asked him about the herd behavior of everyone piling into the same few names which was sending the stock indexes higher despite the lack of market breadth.


            Aug 28, 2021 28:52 PM

            DT – One more interview from earlier this week, where I asked Dana Lyons about how “everyone seems to piled into the same few tech stocks pushing the indexes higher” and we addressed the lack of breadth in the markets.

            Honestly, I feel like that was the theme of the week in the questions we asked our generalist fund managers and active traders. To your point DT, all of these guys – TG Watkins, Joel Elconin, and Dana Lyons here are “active traders”, as that is what these markets require to navigate the constantly rotating fund flows.

            > Check out the (3:08 min mark) for the pile into tech question and response:


          Aug 28, 2021 28:31 PM

          Ex, the public it seems no longer wants profitless bonds , I know you in particular have talked about bond holders eventually flowing into the gold market and I believe you are right, but it looks to me like all that bond money for now is flowing into the high flying tech stocks. The public wants securities which they think will return profits. I am not familiar with the bond market can you buy bonds that are convertible into stocks or even warrants? If that is the case it is so dangerous because it plays into the hands of unscrupulous stock promoters.

            Aug 29, 2021 29:44 AM

            Hi DT – No bonds are a completely different asset class, compared to stocks or warrants, and are generally considered safer in that investors are buying treasury notes backed by nations, although there are corporate bonds that are more geared around the strength of companies, and then the lower rated junk bonds that are more speculative high risk assets.

            There are many institutional investors, pension funds, and hedge funds that hold substantially allocations to bonds as a more slow and steady gaining asset, but when inflation keeps outpacing interest rates, then real rates will remain negative, and it will discourage the purchasing of treasury notes, as investors will be losing money in real terms. It is this kind of environment where gold will shine.

            I believe longer term there will be a great sector rotation out of the 17 Trillion Bond markets, and some of that capital will seek a store of wealth, and find gold & silver. Some will find cryptos. Some will go into the general stock markets, and seek out the belief that the large tech stocks are “safe”.

    Aug 28, 2021 28:12 AM

    Ex. Any opinion on GSRL….closed back down to almost its 52 week low in the last couple of days.

      Aug 28, 2021 28:53 AM

      Hi Ann. Yes, fundamentally I like (GRSL) GR Silver, and feel Marcio and team are out there aggressively drilling their projects, with many drill rigs turning, assays that will continue to come back in, and they just put out their initial resource estimate, as mentioned on the segment on this weekend show.

      Yes, the stock GRSL has technically been under selling pressure, for some time, and this has driven down the market cap of the company to an attractive valuation level. However, the pattern on the daily has been fairly bearish, with the down sloping moving averages, and the 50 day SMA plunging down far below the 100 day SMA which is plunging down below the 200 day SMA, which is a very bearish trend. The stock price is now really far below the 200 day SMA, but it is so extended, that a bounce higher bringing it closer to test the 100 day SMA (currently at $.59) would not surprise me, in a return to the mean.

      While the trend has been lower for a long time, and created some technical chart damage, GRSL has entered a good range for accumulation, in my opinion, as it is in a support zone created by a prior peak at $.365 and a prior trough at $.325 — with price currently closing Friday at $.355 (right in that support accumulation zone).

      The next zone below that if $.325 breaks, would be down around $.27, but I believe, if we see a bounce next weeks in the precious metals, that this current support level should hold and provide a bouncing point.

      The MACD and TSI are also really oversold, and the RSI is at 29 which is getting oversold, and it’s been down on both sides of that 30 reading for long enough that an uptrend in all these indicators is eventually going to come.

      Here’s the GRSL chart for reference:

        Aug 28, 2021 28:48 AM

        Sounds good .Thankyou- Ex.

          Aug 28, 2021 28:50 AM

          Cheers Ann!

            Aug 30, 2021 30:50 AM

            Ann I’m likely going to pick up some GRSL today, because, as mentioned, this looks like a good accumulation point to me personally. Not investment advice, and people should do their own due diligence, but it seems like a good spot to be on the bid.

    Aug 28, 2021 28:49 AM

    I personally wanted to see these gap fills but Matthew maybe right – not much there to squeeze further. These are my two favs for riding the next wave up. And MAG too.

    Aug 28, 2021 28:47 AM

    Ira Epstein’s Metals Video (08/27/2021)

    #TechnicalAnalysis, Gold, Silver, Copper, Platinum

      Aug 28, 2021 28:49 AM

      Gold Technical Analysis

      August 30, 2021 #VIDEO by FXEmpire

      “Gold markets have initially pulled back during the trading session on Friday, but as Jerome Powell spoke, gold turned right back around to show signs of life again.”

    Aug 28, 2021 28:00 AM

    The War on Cash Is Here, Gold Will Be the Only Road to Freedom Says Renowned Columnist

    Stansberry Research – Aug 26, 2021

    “The war on cash will have disastrous consequences with loss of privacy the greatest risk, says James Bovard, a best selling author and columnist for USA Today.”

    “In this interview with our Daniela Cambone, he outlines why gold will be one of the few assets to turn to, as the financial war heats up.”

    Aug 28, 2021 28:03 AM

    Kootenay Silver CEO- On Price Cycles, M&A, and A.I. In Mining

    Kitco News – Aug 26, 2021

    “Jim McDonald, CEO of Kootenay Silver, discusses with David Lin, anchor for Kitco News, the next upside targets for silver, as well as future advancements in mining technology, the sentiment in financing, and mergers and acquisitions activity. ”

    0:00 – Silver price outlook
    8:50 – Kootenay Silver drill results
    10:10 – Kootenay’s long-term plans
    13:27 – Silver grades
    15:50 – Brownfield vs Greenfield
    17:40 – AI in mining

      Aug 28, 2021 28:37 PM

      Ha, ha……. remember , I brought this up years ago….
      a lot of silver goes bye, bye, with each BOMB…
      Silver is way under valued… JMO

        Aug 28, 2021 28:15 PM

        Hi Jerry… I’m thinking of going over there for 3 months , i shall bring my dustpan & brush, to see how much i can sweep-up…………. Wish me luck…………………………..LOL

          Aug 28, 2021 28:27 PM

          Sorry, IRISH…. just got back…..
          Lol……… If, you go, give me a call, and we will go together…. We need someone to haul all the dust back, so, I thought OWL., might volunteer… and pay for the trip as well. 🙂

        Aug 28, 2021 28:16 PM

        I’m curious about US Gold mentioned by John Feneck, mostly because of the very low share count of 6-7M outstanding. This company has been around since 1956 and I remember McEwen buy a USGold and changing the name to McEwen..any connection there? Also noticed on the IB summary that USAU authorised another 200,000,000 shares this April, 2021. So they have been exploring and digging around there since 1956 and still no gold poured.
        I have no interest in buying this company but just wondering why anybody else would.

          Aug 28, 2021 28:24 PM

          You guys could borrow my Gold Monster metal detector.

            Aug 29, 2021 29:27 AM

            Hi Ann…. Better still you could come along , to teach us how to use it . Also to keep us grounded, so we dont spent all our new found wealth , on women & booze……. lol

            Aug 29, 2021 29:55 PM

            Thanks Ann……. 🙂

          Aug 28, 2021 28:43 PM

          The story has changed substantially over that time period, but today – US Gold has 4 projects, the development stage Copper King (CK Gold project) in Wyoming, their Challis Gold project in Idaho, and their 2 exploration projects in Nevada – Keystone and Maggie Creek.

          I like their exploration potential, and feel CK gold is turning into a nice economic Copper/Gold development project, that may get acquired or built in this meatlas and commodities cycle. Challis and Keystone are like the icing on the cake for further upside.

            Aug 28, 2021 28:44 PM

            meatlas = metals

            Aug 29, 2021 29:34 AM

            So they explore, find deposits and sell those properties to other companies that mine and produce the products. Is that it? I didn’t get a response from the company.

            Aug 29, 2021 29:21 AM

            Are U sure? You got it right the first time and nailed it “”meatlas”” their music is astounding !!!!


            Aug 29, 2021 29:20 AM

            CK Gold is being developed and they are moving it towards a production decision, Challis may have a JV partner at one point, and Keystone and Maggie Creek are earlier stage. If another company wants to come in and buy CK Gold from US Gold or wants to take over US Gold, which is still a potential, then shareholders would need to vote on that.

            Aug 29, 2021 29:23 AM

            Here was the recent interview we did with founder Ed Karr, and it may help better inform anyone on what they are doing with the CK Gold project, as they are moving it towards their PFS.


            Ed Karr, Founder of US Gold Corp. (NSADAQ:USAU) joins us to provide an update on the path towards the Pre-Feasibility Study (PFS) on the Company’s flagship CK Gold project in Wyoming. We discuss the ongoing exploration work the Company is doing to expand and infill resources, and other proposed innovations on the property that could improve the economics of the project moving into the PFS. Next we highlight the addition of a corporate team member with the appointment of Kevin Francis, as the new VP of Exploration. We wrap up with comments around what was learned from the drill program that was completed in late June on the Company’s Maggie Creek project on the Carlin Trend in Nevada.


            Aug 29, 2021 29:24 AM

            The impression I get from this interview is that they are moving things along in a way that they could take it into production themselves, or bring in one of the big boys to execute on it. Either way would be a win for shareholders.

            Aug 29, 2021 29:54 AM

            Haha! Holy Grail – I don’t know about Meatlas for music, but how about this classic from Meat Loaf?


            Meat Loaf – Paradise By The Dashboard Light


            Aug 29, 2021 29:20 PM

            Ya Ex, too funny.

            Wasn’t going to hit you up regarding that misspell or better yet the keyboard malfunction lol, hey it’s not my fault. Anyway, it was irresistible I couldn’t help myself.

            Aug 29, 2021 29:32 PM


            Aug 29, 2021 29:48 PM

            👍 keep up the typos they can be fun Ha Ha

            I mean keyboard malfunction. nmf

    Aug 28, 2021 28:00 PM

    Is the Gold Monster something Novo could use to find more of that nuggety gold?

      Aug 28, 2021 28:45 PM

      Feed the beast…. Producing from Beatons Creek, and will be ore sorting that nuggety gold from Comet Well and Purdy’s Reward next.

        Aug 28, 2021 28:47 PM

        (NVO) (NSRPF) Novo Resources – Record Monthly Production From Nullagine Gold Project

          Aug 28, 2021 28:49 PM

          With regards to Novo’s path forward with their nuggety gold at Comet Well and Purdy’s Reward:

          “Novo is planning bulk excavation and field mechanical sorting tests utilizing its new Steinert KSS 100F LIXT fine mechanical sorting unit at Comet Well and the adjoining 100% controlled Purdy’s Reward property, both of which comprise the Karratha gold project.

          “We are happy to conclude the acquisition of Comet Well,” commented Quinton Hennigh, President and Chairman of Novo Resources. “We see the Karratha gold project, of which Comet Well is a part, as our next opportunity to build upon our strategy to grow Novo into a significant gold producer in the Pilbara region of Western Australia. We are now able to streamline processes to get our trial bulk sampling and mechanical sorting program permitted and underway. By late 2021, we hope to show the market a viable path forward for this very important project.”

      Aug 28, 2021 28:01 PM

      Hi Terry.Well,I guess maybe Novo could use it… but; promised it to Irish and Jerry first.

        Aug 29, 2021 29:11 PM


        The Central Planners created all these derivatives and then you have all these ETFs you can participate in physical gold silver appreciation. And yes, I realize they should have the physical in the vaults to back it up but how do you know ? everything’s fraud nowadays. Then we have the precious metal equities and that doesn’t remove any physical off the market at all

        If everyone was contributing to the cause and fighting this cabal. Very few are, because people don’t bother with the physical and I realize the reasoning there. It’s not helping matters any though. It’s inconvenient, there’s no leverage and there are benefits because if the system does go down you’ll have that physical. Positions in the exchanges etc are going to be useless. Those, will not be resources you can use. How long it’ll be, no one knows.

        In conclusion, if we’re not participating in taking the physical product off the shelves and the market you’re not doing your share. Then people complain precious metals have been stuck for a very long time especially the gold mining companies complete disaster and it’s going to continue not being very lucrative with all the other competition with cryptos etc.

        There’s a lot of competition out there for money. I’ve always done my share in buying physical and it removes the product off the shelves. Doesn’t have to be a lot, just do our share.

        But no, everyone’s going to depend on the next guy that’s why this nation is in such serious trouble. That’s how nations fail, collapse and are destroyed. Refusing to act and depending on everyone else and then people keep scratching their heads what’s wrong. Hells Bells !!!!

        Aug 29, 2021 29:51 PM

        At least Irish and Jerry know what they’re doing.

          Aug 30, 2021 30:01 AM

          Keep stacking. The new generation is stacking fake assets as in cryptos. Investing in zombie deadbeat companies. The FED keeps all this.artificial stimulus going keeping all these zombie companies alive and there’s no price discovery on anything anymore. Zombie assets. The Feds insane asylum. Jekyll Island regarding the FED book publication from a few decades ago.

          Aug 30, 2021 30:29 AM

          THANKS TERRY AND ANN…………. appreciate the kind words…….. BEST…. ootb… 🙂

        Aug 30, 2021 30:31 AM

        Thanks again………. ANN……….. 🙂
        Funny one.. on Novo… Nuggets of Truth… lol 🙂

    Aug 29, 2021 29:19 PM

    Hopefully, we’ll see in not too distant future LET THE GOOD TIMES ROLL !!!!

    Deja vu, this site kicked off a pretty good party back in 2014 around that time frame.

    We were blasting off to the Moon. (Gold To The Moon) posts. Yes, that was me.

    High percentage moves in all the gold mining equities day after day and week after week and lasted for a few months and then we had some corrections. Then it just moved sideways and the whole market just decided to go into hibernation and then we really fell off.

    Exciting times. My cigar was lite too. Ha Ha always another train coming through the station.

    It looks like, this market is going to gain some good momentum and legs. Even I guess if folks don’t want to participate in physical purchases. There’s a lot of other headwinds however what can you do. The henchmen are always going to be there. Maybe they’ll leave us alone for a while and we can get to at least 5K AU. Some gold miners will be up at least a hundredfold. I’ll move to Monaco. lol been that and done that. Go Cali !!!!

    Aug 29, 2021 29:33 PM

    They really broke oil hard back then after that run. There’s been a lot of disparities in the market since then we had a good run and then they broke the mining equities again. Certain mining shares people wouldn’t imagine what the prices we’re trading at and even some of them now are down more than ever. You had to be actively trading all the time to stay out of the red. Buy and hold 🚫

    The encouraging exciting news is the froth is all out of the market. Gold bugs have been completely squashed with mining shares. So eventually, we might just have a lot of buyers coming in if the money flows don’t get diverted to everything else with the cryptos especially.

    It’s been a real dog. Old saying, every dog has its day. lol

    Only thing, you might have to wait awfully long time “”good grief””

    Aug 29, 2021 29:34 PM

    What was really remarkable everyone refused to give up on the big move in mining shares after they came down somewhat and then oil broke really hard back then 2015 era I believe, and then the mining shares completely collapsed in a whack a move bull trade went bad face planted in the ground. I warned way before and I was out long before that. Real decimation people got wiped out.

    Aug 29, 2021 29:41 PM

    If we only would spend more and more, the smoke will belch from Chinese industry and all America must do is Keystroke the currency from The Federal Reserve. That is the revolution we have seen in finance. Outrageous excess is The American way, it can only be stopped by allowing the economy to CRASH! Our species needs to feel the pain!

    Aug 29, 2021 29:23 PM

    Put the pedal to the metal. Keep greasing the wheels even though the bearings are falling out.

    Aug 29, 2021 29:26 PM

    Common sense is like deodorant! Those who use it least, need it most!

      Aug 29, 2021 29:29 PM

      Bill Murray said it like this.

      “Common sense is like deodorant. The people who need it most never use it.”
      Bill Murray

    Aug 29, 2021 29:52 PM

    Both quotes above there is a little variance there. That’s why specifically posted the above. Bill Murray is saying they “never” use it. As in, they don’t have any whatsoever. Is that true ?

    Aug 30, 2021 30:03 AM

    Australia’s largest gold producers for the 2020-21 financial year were:

    Cadia East 764,895 Newcrest Mining Ltd
    Boddington 700,000 Newmont Inc
    Fosterville 592,178 Kirkland Lake Gold Inc
    Tanami 481,000 Newmont Inc
    Super Pit 478,439 Northern Star Resources Ltd

    Australia usurping China to becomes world’s top gold producer – Surbiton Associates

      Aug 30, 2021 30:05 AM

      After 14 years of being king of the mountain, China is in the process of being dethroned as the world’s largest gold producer.

      In a report published Sunday, Australian-based mining consultancy firm Surbiton Associates said that Australia’s gold production for the first half of 2021 beat China’s output by four tonnes during the same period, according to data from China Gold Association’s.

        Aug 30, 2021 30:21 AM

        This is why the Chinese are all over Australia trying to subvert local governments with shady deals. They want that gold and other resources, feel it’s unfair so few Aussies own all that wealth.

          Aug 30, 2021 30:41 AM

          I think you are correct Terry….

    Aug 30, 2021 30:37 AM

    For those following some of the TA from James Flanagan over at Gann Global Financial, this latest video from Friday was particularly good, and he is now solidly bullish on Gold and the HUI miners after Friday’s closing action. Worth the watch.

      Aug 30, 2021 30:36 AM

      Taking the bearish case for Gold on with his TA, Avi Gilburt is less convinced that Gold and the miners can rally here…


      Sentiment Speaks: Dangerous Position If You Are Bullish Gold

      Aug. 26, 2021 – Avi Gilburt

      “What has made me consider writing this update is that there is a dangerous setup in place that can take us down a lot further than many probably expect right now. The analogy that I gave to my subscribers is that the metal’s bulls are down 3-0 in a seven-game series right now.”

      “I am going to keep this update rather simple. Moreover, I am going to use GDX as my proxy for this analysis, since the structure is most clearly seen in that chart.”

      “Last week’s low is of utmost importance. Moreover, GDX must hold the 31-31.35 region and begin a rally that takes it through 33.85 in order to complete a 5-wave rally off last week’s low. If it fails to do so by either rolling over immediately below 31, and following through below 30.64, or by rallying up towards 33.85 and then rolling over before completing a 5-wave rally, then it opens a trap door pointing it as deep as the 21 region. Yes, you heard me right – this is not a typo. And, should we break down below 30, then our resistance will be 31.50 on any bounces thereafter. But, should that resistance hold, 21 is a very realistic target.”

        Aug 30, 2021 30:38 AM

        So 2 different savvy technicians, one bullish, one bearish on the PMs.

        We are definitely at a key point for a big move here, and the last few weeks have been a rollercoaster ride.

        Personally I’m still leaning more bullish, at least for a short-term bounce, based on the trading action in Gold on Friday, as outlined in the charts I posted at the top of this weekend blog thread.

          Aug 30, 2021 30:40 AM

          Avi…….. stinken thinken….. lol……. GDX… X marks the spot…. Just dig and shut up…lol

    Aug 30, 2021 30:44 AM

    Same ol, same ol…dead horse is sleeping things off.

    Aug 30, 2021 30:45 AM

    I-80 Gold Intersects High-Grade Gold In Open Pit Drilling At Granite Creek

    6.80 g/t Au over 51.1 Metres – Oxide Mineralization below CX-Pit

    August 30, 2021

    Aug 30, 2021 30:58 AM

    Aurcana Silver Provides Update on the Restart Progress of Its Revenue Virginius Mine, With First Ore Through the Mill

    by @nasdaq on 30 Aug 2021

    Kevin Drover commented, “These additional assay results – 15 feet below the first mining stope – which confirm the mineralization is as we expected is the key data validation point we needed to confirm that we can be successful. Mining productivity at the face has been strong and we have some of the best miners in the business working for us. While some logistics issues related to movement of ore and waste in the same underground area slowed our initial development in opening up the production stopes, these short term delays are resolvable as the stope is opened to its full length. With this grade confirmation in hand, the processing plant now moving into commissioning, and with logistics improving rapidly as the first production stope expands both north and south, we are very confident of a successful restart.”

      Aug 30, 2021 30:02 AM

      They are talking ounces per ton in their write up.

        Aug 30, 2021 30:19 AM

        Well, Aurcana’s Revenue Virginius mine is the highest grade undeveloped Silver mine on the planet, so if folks believe that “grade is king” then how can they not want a part of the highest grade silver mine that is about to come online into production? 😉

          Aug 30, 2021 30:23 AM

          Got some Aurcana…it’s that I-80 above I don’t have.

            Aug 30, 2021 30:32 AM

            Well, I had I-80 after the Premier spin-out of the company from when Equinox took them over, but I sold it when it became free trading. However, I like what I see on the potential for a high-grade underground mine below the existing open pit in mining-friendly Nevada. When a company is already mining a deposit at surface, and then hits a high-grade wide intercept of mineralization underneath that pit, it can be monetized so much more quickly than a typical exploration company, because the producing company has all the infrastructure and permits already in place for the open pit mine, and getting the approval for an underground mine, should be pretty easy.

            So far the market hasn’t really reacted much to the news, so it may be a while before folks connect the dots and process that recent news from I-80. We’ll see how it goes…

    Aug 30, 2021 30:46 AM

    45 degree walk down in gold since open. Computers in control