Robert Sinn – Fed Policy For Rate Hikes, Rate Cuts and Balance Sheet Unwind, And A Site Visit Recap From Guanajuato Silver

May 3, 2023

Robert Sinn, AKA Goldfinger at, CEO Technician on Twitter and writer at the Energy and Gold website joins us for a macro discussion focused on Fed policy expectations and what the markets are predicting.


On the Fed front, we focus more on the predicted rate cuts and balance sheet upwind. For markets, the discussion moves to how certain stocks are doing well but many are really struggling (weak breadth). This is also relates to gold stocks where some are doing well and some are still lagging.


We wrap up the call by discussing a recent site visit to Guanajuato Silver in Mexico. This silver miner has continued to grow production and the share price has done well over the past few years. We discuss the continued production growth and if the Company is a take over target.




Here are the link to follow along with Robert’s commentary. 

CEO Technician on Twitter.

Goldfinger at



    May 03, 2023 03:58 AM

    Fed Preview: The More Things Change, The More They Stay The Same

    by @Goldfinger on 2 May 2023

    “The Federal Open Market Committee (FOMC) will announce its interest rate decision at 2 pm EST tomorrow, followed by a press conference with Fed Chairman Powell at 2:30 pm EST. Only 24 hours ago, it seemed like a quarter point hike to 5.25% on the Fed Funds Rate (FFR) was a foregone conclusion. However, today’s weak JOLTS data, in combination with carnage in the regional banking sector, has thrown some doubt into the mix (from a 93% probability of a 25bps hike to roughly 85% at last check).”

    The JOLTS data showed job openings posting a near-record year-over-year decline in the month of April…”

    May 03, 2023 03:45 PM

    The Look And Feel Of A Precious Metals Bull Market

    Dave Kranzler – Seeking Alpha – May 02, 2023

    “It’s starting to look, smell and feel like a sustainable bull market may be unfolding. For the first quarter, gold rose 8.2% and silver was basically flat for the quarter but rose 15.6% in March. The mining stocks, generically using the GDX ETF as a proxy, rose 12.2%.”

    “The chart above shows the price of gold and silver priced in U.S. dollars from 2001 to present. That is the chart of a secular bull market punctuated by cyclical ebbs and flows. The first bull cycle lasted from 2001 to 2011. It was followed by a bear cycle from 2011 to the end of 2015. In my view, the sector has been in a lateral “tug of war” that will be resolved by a historical move higher.”

    May 03, 2023 03:56 PM

    Here is a “Future Analog” for the effects of Federal Reserve rate hikes on the mid-term price of gold and silver.

    I wasted hours and hours, over the past 14 months, obsessively overanalyzing the expected Fed Rate changes on Gold/Silver price. Never again …

    Rate hikes began on 17Mar2022. For all practical purposes, rate hikes ended today (5 % increase over 14 months) and QT will now be dominant. No rate cuts in 2023.

    Mar22 May23 % Change
    1,942 2,028 + 4.4 %
    25.32 25.44 + 0.4 %