Robert Sinn – Macro Market Drivers And Technical Outlook On The Precious Metals
Robert Sinn, aka Goldfinger, editor of Energy & Gold, joins us to review the macroeconomic market drivers and provides his technical outlook on the precious metals sector. It’s a wide-ranging conversation that starts off with Fed policy, inflation, interest rates, and the general slowing down of the economy. We touch on the lagging data in the jobs number, and the increasing signs of rising unemployment and big layoffs in the tech sector. With the market pricing in a 50 basis point rate hike in December, and possible one or two 25 basis point hikes in Q1, Robert stresses that the eventual terminal rate matters and whether that comes in below or above what is already priced in, will depend on more data and will be significant.
Next we shifted over to reviewing the key support and resistance technical levels in gold, silver, and the mining stocks, and that it does seem like we are in a basing and bottoming period, but it again, hinges upon when and where the central banks finish up their tightening policy. Robert balances out some of the constructive positive trends he is seeing, with some words of caution, as we are in very unpredictable markets and an unusual economic period.
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After 50 years in govt, Biden sure knows how to walk the talk, lining his pockets to highest bidder, don’t know what country he’s from. Vote out aristocrat scum
For those interested in copper-gold porphyrys in BC, American Eagle Gold Corp may have made a major discovery judging from today’s drill results and hype.
Day 2 this week of some up … some down and some not reported. Month 11.
Ira is interesting this morning…
https://goldseek.com/article/gold-price-update-video-us-elections-will-be-talk
Don’t Fight The Fed
By Michael Lebowitz – R.I.A. – June 29, 2022
Druckenmiller: A Decade Of No Returns
By Lance Roberts – R.I.A. – October 25, 2022
Is a “lost decade” ahead for markets? Stanly Druckenmiller believes that could be the case.
“There’s a high probability in my mind that the market, at best, is going to be kind of flat for 10 years, sort of like this ’66 to ’82 time period.”
Druckenmiller added that with inflation raging, central banks raising rates, deglobalization taking hold, and the war in Ukraine dragging on, he believes the odds of a global recession are now the highest in decades. He pointed out that globalization has a “deflationary” effect because it increases worker productivity and speeds up technological advancement. However, that tailwind is now fading. To wit:
“When I look back at the bull market that we’ve had in financial assets really starting in 1982. All the factors that created that boom not only have stopped, they’ve reversed.”
https://realinvestmentadvice.com/druckenmiller-a-decade-of-no-returns/
Thanks for all the XXXTRAS YOU bring to the site Shad.
Sure thing Marty. Glad to share things, and also glad to review what others share here on the KER forum. Ever upward!
Shifted more to i-80.
IPT (Any Questions?):
https://stockcharts.com/h-sc/ui?s=IPT.V&p=D&yr=0&mn=9&dy=0&id=p75047342920&a=1286177532
None at all lol.. it remains as one of the strongest companies you have shared with us all. I wish I had equal to your stash but I literally have my smallest position in cash ever. Coincidentally it also smells like a rock bottom low in a cyclical classic fashion. Here’s to finally possibly going up for a longer duration this time around 🤞
NICE! Thanks for all your posts, Bro.
Sure thing 👍
We have a confirmed breakout in gold!
Last couple days I’ve been hearing and listening to many technicians about how we are going higher and then dropping like a bomb. The charts and pattern I’ve been looking at has been telling me differently.
I’d like to see a close this week in gold around $1735/$1745 then possibly correct next week and move upward the following. The miners is the place to be. Iamgold is now working on closing its massive gap above and I believe it will do so in short time.
Next we need the explorers/developers to really get going here and I expect that very very soon.
My two month/three month call on usd is playing out to the tee if anyone has listened. For those who think usd will go higher and that will affect the miners. I don’t think so. I’m expecting usd to have one more higher high but the miners already have priced that in and are diverging from big money using that last pop to get out of usd and into miners.
Technicians will soon change tone from bearish to bullish when they realize late that market conditions technically have changed. There lower targets will likely not be met.
Good luck to all
Glenfidish, what are the chances Iamgold ends up like Pure Gold(PGM)?
I said the other day……… gold going higher…………. long term……
So, your bottom call is ok with me……. Glen…… 🙂
Confirmed breakout in brixton as technically I was correct when I spoke with green..
I hope green purchased some more 🙂
We do have a monthly gap at .15 cents down there which I would use as a buying opportunity if we go back down. It could be a quick stealth like move catch and grab and up! That’s what I suspect. Matthew your input on that monthly gap?
Remember this when i posted it sometime ago? Remember I updated the post and move forward the dates. The over point or signal is that I believed that to be the bottom and I still do!
Added to VZLA @ $1.06 US
SOLD 3% of position- SILV @ $6.41
Just thought I would mention what Glen has had to listen to for the last two months over and over again.
Gold has not bottomed!
We are heading lower! Almost every technician on YouTube. Probabilities until there not 🙂
Oil going higher and to the moon..
Bitcoin is bottoming lol
All these are 100% contrarian
Oil as inhave mentioned repeatedly is going sideways and then another huge drop down. I’m expecting $35/$45 a barrel sometime next year! Put this on record and this will ignite the miners margins while dollars entering the space at alarming rate
Cheers to all
Go f— yourself Glengibberish
I am expecting the declining 100 WMAs to more or less halt the rally in the metals, although I think a bit of an overshoot is possible.
Silver could rally to $25-26 before reversing, which would form the neckline of a large inverse head and shoulders. I think most of 2023 could be spent building out the right shoulder, which would be in line with my thesis that the declining 100 WMA would eventually cross below or at least get near to the rising 200 WMA.
The same could be said for mid tier silver miners like HL and AG. Both look similar to silver in that they could also be setting up large inverse head and shoulders. AG for example, could rally all the way back to $13-14 before reversing back down to form a right shoulder. HL might be good for $7-8.
Brixton looks set for a moonshot over the next 12-24 months. $2 cdn is my call within 24 months. It will likely be much stronger than mid-tier companies during the entirety of that time, especially in 2023.
The SILJ:GDX foreshadowing that I posted here in early August should have helped to give people the right attitude to keep their despair in check.
https://stockcharts.com/h-sc/ui?s=SILJ%3AGDX&p=D&yr=1&mn=8&dy=18&id=p47513833245&a=1223550651
Glad I bought a lot more KTN when it was below .10…
https://stockcharts.com/h-sc/ui?s=KTN.V&p=D&yr=0&mn=9&dy=0&id=p52385365193&a=1057222783
Good one Matthew. I sold my KTN and rolled into Brixton during the last couple of weeks. Brixton has done well, but today for KTN is strong.
I bought KTN under .10 too and have taken a little off the table today.
I actually added a little more at .11 today (and at .10 and .105 yesterday) and won’t be selling any.
I’m a little puck shy still from the last 8 months of trading, I also have a FOMO so will jump back in quickly. I bought a bit more Big Ridge today.
Back in Koot…maybe more tomorrow depending on whether there is a tomorrow…
I’m hanging on to my Mexico miners even though Jim Willie made negative comments recently about the drug cartels shaking down the miners and forcing them to turn over part of their production.
You really don’t deserve a breath of glens comments!! But you truly are #1 contrarian indicator in my books….😃💪🥳🙌🎉
Speaking of Koot, When I was trying to buy today reminded me how much I dislike the MMs handling it. I got only half the shares I wanted even though I kept moving price including more than the Ask. They also don’t publish trades. If I remember, anytime I am thinking getting rid of a stock, Koot goes to the top of the list because of trading it is a pita. Makes me not trust pricing and I always get the cad price first which usually doesn’t matter. Just me.
You do realize your a retail trader? Come with Glen we will get you through the vip route and get you those shares back door!!!
Glen
VIP trading. Does Schwab do that?
After over two years, the PM shorts have been the big dog on the porch, and I see a nervous short covering rally………..based on the USD flat lining……….algo traders in fine form as usual
I will not read to much else into this rally, long term, unless we close above 1700, and above 18 month MA on monthly chart………..for the month of November………………..Doc put it simply………….long term charts tell the truth !
But a good trade however you think……….according to daily charts ….. GLTA
Doc might recognize a low every now and then if he learns that all charts tell the truth. But speaking of the monthly charts, the HUI tells a clearly bullish story. Among other things, notice that it finished September and October higher even though gold did not…
https://stockcharts.com/h-sc/ui?s=%24HUI&p=M&yr=15&mn=11&dy=0&id=t1462543306c&a=1261235797&r=1667935125811&cmd=print
Back in Lion One. Added to Kraken that back into yesterday. Added to i-80, Tectonic, brixton, nine mile.. Then they started backing things up.
The stock market appears to be putting in another top which will be good for our miners under the circumstances.
DIA:
https://stockcharts.com/h-sc/ui?s=DIA&p=D&yr=1&mn=1&dy=0&id=p37966707232&a=1278738361
Starting to look like just another day in paradise unless my account has a big finish.
This quarterly GDM versus SPX chart shows a giant basing action spanning many years that will launch a massive multi year run higher:
https://stockcharts.com/h-sc/ui?s=%24GDM%3A%24SPX&p=Q&yr=20&mn=0&dy=0&id=t2168638585c&a=1286250106&r=1667937386401&cmd=print
Mathew ……always look forward to your comments…………..thoughtful…………
A basing pattern would be welcome………………with decades high inflation and Pm’s going in the opposite direction…………is the definition of insanity !
Stagflation with FED pausing……..IMO will be the catalyst to turn the light bulbs on !
I don’t think the Fed pausing matters it just seems like it does because so few investors understand the paradigm shift that’s taking place in multiple asset classes.
This is the 6th trading day of the month and the Nasdaq is down 11% versus the XAU:
https://stockcharts.com/h-sc/ui?s=%24COMPQ%3A%24XAU&p=M&yr=13&mn=11&dy=0&id=t8029983880c&a=1155502129&r=1667941394192&cmd=print
Matthew lmao! Your response above…
I know what you mean amigo some just don’t understand… need confirmation on a monthly and disregard weekly, daily and even hourly as you told me years ago! You never know when a trend changes…
Right, he’s valuable contributor here.
Goldfinger aka Robert Sinn is a fairly smart trend spotter, but he believes too much in what America is doing, America is making a lot of mistakes in their foreign policy and in their financial projections. America no longer leads the world it lags, if you don’t back your currency with gold you will lose, and America is resting on its laurels when it was a great nation.
America needs to convalesce and re-evaluate what is happening in the world, but they are living in the past like Joe Biden. DT