Hour 1 – Rick Bensignor, Marc Chandler, and an update from Great Bear Resources
This week was full of news events that drove markets. The Fed started us off on Wednesday with a rate cut but not the promise of future rate cuts. Trump quickly followed with more China tariffs that turned a markets in the opposite direction.
There’s a lot of information in this weekend’s show that considers the markets and politics around the world. Even though the guests I feature this week are both generalists they both have some very interesting comments on the gold market.
I was also at the Sprott conference for most of the week. I will have a few company interviews coming out next week but in this weekends show we do get an update from Great Bear Resources.
Please keep in touch by emailing me at Fleck@kereport.com. I love hearing form all of you and thank you to everyone who stopped to chat the Sprott show!
- Segment 1 and 2 – Rick Bensignor, Founder of Bensignor Investment Strategies shares his thoughts on the US markets and bond market as well as the gold market. Take note of the global factors he discusses.
- Segment 3 – Marc Chandler, Managing Partner at Bannockburn Global ForEx takes a close look at the US dollar in light of all the news this week.
- Segment 4 – We get an update from Great Bear Resources President and CEO Chris Taylor. Great Bear released news yesterday which we follow up on to summarize the exploration this year.
Exclusive Company Updates This Week
- Riverside Resources – More information on the land acquired in Ontario
- Goldplay Exploration – More information on the high grade gold intercept at the Faisanes Target
Larry Silverstein: “Pull it.”
The God of Jewish Lightning?
Thanks Cory, Big Al, and all the KER contributors for another great week of interviews, and of course, the weekend show.
Sprott Money News Weekly Wrap-up – 8.2.19
“Eric Sprott discusses current events affecting the precious metals market and he also reviews some of the latest developments in the mining sector.”
https://soundcloud.com/sprottmoney/sprott-money-news-weekly-wrap-up-8219
Sprott Uses Kirkland Gains on Junior Investment Spree
by @Oreninc on 30 Jul 2019
$CNL $JAG $PGM $USA $CKG $RIO $DSV $AU $TUD $WM $ELY $SVE $GPY $CCM $TUO $ASL $NIC
“Eric believes the price of gold and silver is going substantially higher and he needs to position himself in companies absolutely ready to participate in this, which are high-cost producers and permitted marginal developers. When the gold price goes up, the margins of these companies go up significantly without them having to do anything,” said Rick Rule, CEO of Sprott Holdings.
https://ceo.ca/@oreninc/sprott-uses-kirkland-gains-on-junior-investment-spree
Rick Rule on the importance of boredom and his last stock buy
by @JamesKwantes on 2 Aug 2019
https://ceo.ca/@jameskwantes/rick-rule-on-boredoms-importance-his-last-stock-buy
Ross Beaty on Motivation, Business Building and When To Sell Your Gold Stocks
by @MiningStockEdu on 2 Aug 2019
Ross: “I fell in love with gold in sort of 2015, kind of close to the bottom of the market in my opinion. Bottom, it had been a bare market for four years. Gold had gone from $1,800 down to about 1,050. I mean, I have plenty of other investments in nickel, zinc, copper, and silver of course. But just talking about gold for a second, I got in very close to the bottom. I mean, I didn’t know it was the bottom, I just knew it wasn’t the top. And this is a cyclical world, so you’ve got to play these cycles. Gold broke out really in January of 2016. it went up from 1,050 to maybe 1,150, 1,200, 1,250. Went back to 1,150, bounced around 1,200 for the longest time. And then bing this year it’s up to 1400 something. Well that’s quite a move. And most of the gold stocks have all done better than that because equities always outperform gold on the way up and they under-perform gold on the way down. That’s just the way beta works, and leverage works.”
“But I would say to your listeners, be careful not to sell too early. I personally think we are sort of in the fourth inning of a gold bull market where the last few innings we’re going to see gold go bananas. I mean way over $1,800 previous high set in 2011. I could go on for an hour about all the reasons for that, which I’m not going to, but just let’s say I happen to believe in gold is going to have a lovely run. If you have gold investments, maybe take some money off the table. They’ve made pretty good money this year, but do not sell everything. The big money is yet to come. And that’s what I’m counting on in my gold investments. My biggest one is (EQX) Equinox Gold right now, the company I’m trying to build into a million ounce gold producer.”
Doug Casey – Gold is Going Higher, We are in Another Bull Market
by @PalisadeRadio on 2 Aug 2019
https://ceo.ca/@palisaderadio/doug-casey-gold-is-going-higher-we-are-in-another-bull-market
I would disagree with Mr. Beatty on one point—I don’t believe we are even near to the 4th inning of a gold bull market; it’s more likely the 2nd inning.
Can you verify…..that Ross really fell in love , or even recognized the bottom in 2015, or just pretending he recognized the bottom……..just wondering….
Doc – I agree, I’m in between you and Beaty then as I see this as the 3rd inning.
> Inning 1 – 2016 Surge – short and sweet inning
>> Inning 2 – Late 2016-early 2019 – Consolidation period with pops and drops. There were nice tradable rallies in the Q1 Run of 2017, Fall of 2017, the Q1 Run of 2018, and fall of 2018, and the Q1 Run of 2019……… but overall it was a large digestion period of churning – and pretty boring.
>>> Inning 3 kicked off in late May of 2019 until……. ?
Cheers!
OOTB – Good point. Ross was in love with Gold for decades, not just since 2015. However, I believe the point he was making in the interview was he was off on Copper companies and then Alterra Energy for a number of years, and just came around back to a Gold focus in 2015, when he was divesting the assets in Anfield, to combine that cash with Trek Mining and Newcastle Gold to form Equinox Gold (EQX). Now he’s back to a Gold focus and it just happened to be that was playing out near the bottom.
Ever Upward!
EX……..thank you very much…..for your reply…….appreciate as always….. OOTB
Have a great weekend………
Right back atcha OOTB. Have a great weekend sir!
🙂
Doc/Ex….your both wrong.
The teams have just finished their warm ups and are now just getting on to the field.
This is going to be a looooooong game.
Well, whatever happens looking forward to the long game.
I’m all stocked up on pretzels, dogs, and cold beverages. 🙂
Haha!
Gold Stocks Explainer: The Gold Price Surge, The Fed, And The Gold Investing Outlook
Jed Graham – 8/02/2019
“After a big letdown from the Fed, it looked like the recent gold price surge would take a breather. Then President Trump took to Twitter the next day and escalated the China trade war. The price of gold reversed Fed-induced losses and surged close to a six-year high of $1,458. Top-ranked Kirkland Lake Gold , which tumbled 10% on July 31, rebounded 8% on Trump’s tweets. Likewise, Barrick Gold stock rebounded close to a two-year high. Doubts about the economic outlook and especially a dovish Fed fueled a gold price surge in the first half of 2019. That sparked a burst of interest in gold investing and gold stocks. With Fed rate cuts back in play, can the good times last?”
https://www.investors.com/research/gold-stocks-investing-price/?src=A00220&yptr=yahoo
“Global #Gold demand grew by 8 per cent year-on-year to 1,123 tonne in the April-June quarter of 2019, mainly driven by central bank purchases and rise in investments in gold-backed ETFs, according to a report. The overall demand in the second quarter of 2018 was at 1,038.8 tonne, according to the World Gold Council’s Q2 Gold report.”
“Total investment demand was 1 per cent firmer year-on-year, as healthy exchange-traded fund (ETF) inflows in Europe counterbalanced a 12 per cent drop in bar and coin demand… The holdings of gold-backed ETFs grew 67.2 tonne in April-June period to a six-year high of 2,548 tonne.”
Roxgold (TSX-V: ROXG) – Little Fish Taste Sweeter
by @CRUXinvestor on 2 Aug 2019
– Drill Announcement
– Piecing together the Company Strategy
– Fundamentals of Mining in Africa and the Competition in the Country
– Possible Gold Market Prediction
https://ceo.ca/@cruxinvestor/roxgold-tsx-v-roxg-little-fish-taste-sweeter
(BAR) (BALMF) Balmoral Expands Area 52 Drill Program
July 31st, 2019
The Company has completed two drill holes to date with a third in progress, and has 21 permitted drill sites in Area 52.
http://www.balmoralresources.com/news/balmoral-expands-area-52-drill-program
JUDGE VACATES WATER DISCHARGE PERMIT FOR MONTANORE MINE
August 02, 2019- By Amy Beth Hanson
“District Judge Kathy Seeley ruled Friday that the Department of Environmental Quality did not set adequate pollution restrictions for the Montanore Mine and gave Hecla too long to meet the requirements.”
Gold’s Top Performer Told Don’t Splurge To Replace Fading Mines
Bloomberg News | August 2, 2019
“Gold miners in Australia, the industry’s most profitable operators, are facing a slump in output that’ll leave the nation trailing key rivals — and they’re being warned to resist the temptation to replace fading mines with high-cost production.”
https://www.mining.com/web/golds-top-performer-told-dont-splurge-to-replace-fading-mines/
Australia’s Gold Mines by Production, Grades and Costs… Part 1
By Trevor Hoey. Published at May 22, 2019
https://finfeed.com/investor-101/australias-gold-mines-by-production-grades-and-costs-part-1/
Emerging Australia’s Gold Mines by Production, Grades and Costs Part 2
By Trevor Hoey. Published at May 23, 2019
Emerging Australia’s Gold Mines by Production, Grades and Costs Part 3:
Grade is king, but costs are the crowning glory
By Trevor Hoey. Published at May 24, 2019
Ocasio-Cortez Chief Of Staff And Comms Director Abruptly Quit
Two weeks after former Chicago Mayor and Obama White House Chief of Staff Rahm Emanuel said that Rep. Alexandria Ocasio-Cortez and her “snot-nosed punk” chief-of-staff Saikat Chakrabarti are destroying the Democratic party, Chakrabarti and AOC’s communications director Corbin Trent have abruptly resigned from the Congresswoman’s office, according to The Intercept.
https://www.zerohedge.com/news/2019-08-02/ocasio-cortez-chief-staff-and-comms-director-abruptly-quit
I am delighted when traders are upset by Trump’s tweets, because I dislike traders. (my apologies to traders, just telling the truth.)
Stock markets were instituted as a way to invest in industry and the economy.
In my opinion, traders are simply people that have found a way to make money out of fluctuations in the market; which, while providing liquidity, is hardly investment in the economy; the purpose of the stock market.
You’re quite the collectivist with your ideas about what’s acceptable and what isn’t. The vast majority of “buy and hold” investors buy their stocks in the secondary market. Such is also “hardly investment in the economy” since they did not fund anything but the guy who wanted out of his shares.
Like your stance on monopolies, your urge to regulate traders is misguided.
Free markets with strong and EVENLY APPLIED contract and fraud laws are best for the prosperity of the majority of people. More importantly, it’s the most moral approach.
So efforts to change the system would be much better spent making sure that cronyism is minimized and individual freedoms are expanded (they’ve shrunk massively under both Ds and Rs over the last 20 years).
Those who seek to control others on illegitimate grounds are immoral, not traders.
I have no urge to regulate traders.
If I did I would have said so.
I use chartist techniques, just like a trader,when choosing when to enter or leave a position. i.e. for timing.
But my choice of investments are also guided by fundamentals primarily.
Mr. Bensignor, how does Trump get leverage to stop China from stealing trade secrets and demanding 51% of all companies doing business in China?
You may think the Fed is market reactive, and it may appear so. It may even be true.
I would suggest, however, that the Fed is largely a political entity, even if owned by bankers. Given the size of the National Debt, there is little political choice the Fed has, other than to lower interest rates, in order to m=minimize the interest cost of carrying debt.
The ability of Governments to tax is limited. While government expenditure is high (in order to get votes), the increasing debt will increasingly dominate Fed behavior.
Do not give them any credit……except as a bunch of thieves ……..pretending they have any credit at all makes you look like you have not done your home work….
Respectfully submitted………..
The miners are performing very bullishly even when priced in real money. Here’s GDX vs GLD:
https://stockcharts.com/h-sc/ui?s=GDX%3AGLD&p=W&yr=6&mn=11&dy=0&id=p91172407467&a=680387520
If I’m right about gold next week, then silver is about to break out of its 2 week holding pattern and finally start to move well away from the 200/233 week MAs:
https://stockcharts.com/h-sc/ui?s=%24SILVER&p=W&yr=3&mn=9&dy=0&id=p33252581722&a=680388888
Matthew, I feel the odds of that are probably better after next week.
You could be right about that but my interpretation is that gold wants to continue what it started yesterday.
The weekly gold chart looks very strong to me and now the daily chart has pulled itself together…
https://stockcharts.com/h-sc/ui?s=%24GOLD&p=D&yr=1&mn=0&dy=0&id=p97407273675&a=680403506
Here’s an-opening XAU chart that I posted last September. The miners are at an important juncture but are ultimately heading much, much higher.
Note the resistance levels above…
https://stockcharts.com/h-sc/ui?s=%24XAU&p=W&yr=11&mn=6&dy=0&id=p82601914074&a=618520531
Oops, “eye-opening” chart. It’s the pain meds. 🙄
Thanks Matthew. The bounce off fork support in 2016 only for the consolidation to keep falling along the middle fork support is “eye opening”, as is the recent charge higher.
The XAU index appears to be at a key resistance level now where it pulled back last time and there is a lot of prior trading congestion around that dashed trendline you drew. We’ll see how it goes this round.
https://www.zerohedge.com/news/2019-08-03/hells-top-banker-explains-how-destroy-global-economy
We’ve managed to persuade Governments to follow damaging and contradictory policies. As society reeled in the wake of the financial crisis, we persuaded policy makers to cut back spending through “austerity” spending programmes, simultaneously bailing out bankers while flooding the financial economy with free money through Quantitative Easing.
Effectively we’ve split the world into two economies. A real economy which is sad, miserable and deflating, and a financial economy that’s insanely optimistic, massively inflated and ripe to pop on the back of free money.
Our success can be seen in current financial asset prices. These are now hopelessly inflated and distorted by foolish post financial crisis policy decisions. They are bubbles set to pop. Empower the regulators and bureaucrats to compromise finance through zealous over-regulation, making banking safer by destroying it. Usher in a new era of trade protectionism, the end of Free Trade and increase the suspicion some countries are manipulating their currencies for economic advantage. Sprinkle some dust of political catastrophe, the collapse of law, undo the fair, just and caring society, while adding some eye of newt and complex environmental threats. Make the rich so rich they don’t notice, and the poor so poor they become invisible. If the markets remain uncertain, then it distracts mankind from addressing these issues, making society less stable!
There as some things we’re really proud of, including the Euro, Social Media, Investment Banks, the Tech Boom, and especially Quantitative Easing (which is still delivering confusion and pain). New Monetary Theory could prove even better – it shows tremendous potential to thoroughly unsettle confidence in money. Cybercurrencies are particularly fun – despite coming up with the idea, neither we, nor even the distinguished members of our panel of eternal guests, understand the why of them. They are libertarian nonsense – so, naturally we continue to encourage them as get-rich-quick schemes, but they also further undermine confidence in money and government. We made something up in a bar one night and called it a Distributed Ledger – the humans ran with it and invented Blockchain, whatever that might be..
Uranium Insider – August 3rd, 2019
“I previously had said that it was in Cameco’s best interest to acquire the lbs it needs as inexpensively as possible to fulfill it’s existing contracts. After multiple private conversations, I now believe they have an opposite strategy: to purchase their needed spot lbs concurrently with any utilities’ buying to have maximum leverage in moving the spot price up. ”
https://us17.campaign-archive.com/?u=c7045ebfcf9a276c10907f0f6&id=460155daa8
Energy Fuels (NYSE: UUUU) – Grabbing a Tiger by the Tail. Uranium Market Goes Wild.
by @CRUXinvestor on 31 Jul 2019
“(UUUU) (EFR) Energy Fuels CEO Mark Chalmers, post Section 232. Mark discusses the petition and how the Presidential Memorandum has been received the Uranium Market. Speculation is abound as to what the the 90 day Working Group has been asked to do and what all the possible outcomes will be. Some say Section 232 is not dead for the US Uranium companies. Others say that this has led to a much bigger discussion for Nuclear Fuel Industry as a whole. And the Memorandum says it is to look at Nuclear Fuel Production.”
funny and alarming scuttlebutt from the Sprott Conference in the Uranium sector from Tommy who runs ceo.ca:
@tommy – “Something about fisticuffs between (NXE) Nexgen’s Trav and Marin Katusa at the sprott conference? Boys!”
I guess low prices in the Uranium sector have most investors in a foul mood. 🙁
At least their are still a few bright spots in the #Uranium sector:
$URG $URE Ur‐Energy Releases 2019 Q2 Results
Ur‐Energy CEO, Jeff Klenda said, “I am pleased to note that we generated $3.9 million of cash from operating activities during the current quarter, in which we sold 265,000 pounds at an average price of $43.31 for $11.5 million of gross sales. We expect to sell a total of 302,500 pounds at an average price of $53 per pound for gross sales of $15.9 million in the second half of 2019.”
their = there
Discussion with Jeff Klenda | UR Energy (URG) (URE)
Smithweekly Research – Jul 22, 2019
Potential Buyer Eyeing Abandoned $9 Billion SC Nuclear Project, Legislator Says
By Andy Shain – May 3, 2019
“A consortium that includes domestic and foreign companies is interested in buying the two abandoned nuclear reactors in Fairfield County and finishing the project that once promised to usher in a new wave of clean energy in the country, a state lawmaker told The Post and Courier.”
Amir Adnani | Uranium Fundamentals Unchanged
Sprott Media – Jul 24, 2019 #VIDEO
Rick Rule: I See #Gold Moving This Year, #Uranium Next Year
Investing News – Jul 30, 2019 #VIDEO
Silver Rally Has Attention of Precious Metals Bulls
Andrew NyquistBy – July 31, 2019
https://www.seeitmarket.com/silver-rally-has-attention-of-precious-metals-bulls/
EB Tucker: Gold is Going to US$1,500, Silver to US$20
Investing News- Jul 31, 2019 #VIDEO
METALS REACT TO FED SHOCKWAVES – READY FOR NEXT MOVE
August 1, 2019
GOLD SET TO ROCK HIGHER, SILVER READY TO RALLY
https://www.thetechnicaltraders.com/metals-react-to-fed-shockwaves-ready-for-next-move/
Lobo Tiggre: If Gold Goes Bananas, Silver Will Too
Scott Tibballs – August 1st, 2019 #VIDEO
Silver Price Forecast – Silver markets show resiliency again
Christopher Lewis – Aug 02, 2019
“Silver markets broke down rather significantly during the trading session on Friday but have found support at a major large round figure to turn things around.”
#Gold Prices Move Higher with a Revised Forecast of Prices Reaching 1507
Gary Wagner – August 2, 2019 #TechnicalAnalysis #Chart #VIDEO
https://thegoldforecast.com/video/gold-prices-move-higher-revised-forecast-prices-reaching-1507
Gold Update
Smart Money Tracker – Aug 1, 2019 #Chart #VIDEO
http://blog.smartmoneytrackerpremium.com/2019/08/gold-update-16.html
Ira Epstein’s Metals #Video (8/2/2019)
#TechnicalAnalysis, #Gold #Silver #Copper #Platinum
Gold Technical Analysis
August 05, 2019 – by FXEmpire
“Gold markets gapped higher to kick off the trading session on Friday, pulled back a bit, and then found buyers again….”
Gold Price Surges To Record High In 73 Currencies
Frik Els | August 2, 2019
“Gold hit a six-year high on Friday as investors piled into the safe haven metal amid an escalating US-China trade war, and the prospects of a return to ultra-loose monetary policy by the Fed.”
“Ross Norman, CEO of Sharps Pixley, the top bullion broker in London, points out that the gold price in pound sterling hit an all time high on Friday of £1,187.28, beating the previous record set on September 11, 2011:”
“[GBP] joins no less than 72 other currencies, including the Canadian Dollar, The Australian Dollar and perhaps most significantly, the Indian Rupee.”
🔴 Gold vs Bitcoin Debate: Peter Schiff vs Anthony Pompliano
https://www.youtube.com/watch?v=h1GzqhSC8OI
He saw oil fall and it was a bad day? It was a GOOD day for me. I’ve been shorting oil for weeks. IT has MUCH further to fall. Surely, your guest knows this.
I’m sorry but Rick is completely political. Otherwise, why bring it up?
I find it amazing that I can trade and make money and not pay any attention to the politcal climate. I FOLLOW THE CHARTS. There’s no reason to bring politics up.
Lithium’s Price Paradox
30th July 2019 – Benchmark Mineral Intelligence
“By mid-2018, with four new hard rock operations set for production, spodumene had overtaken brine as the leading source of chemical feedstock production. The number of active mines had climbed from 1 in 2016 to 9 by the end of 2018.”
“The false narrative which emerged from these expansions and spilled over into 2019 was that the industry was awash with battery-grade lithium chemicals, sufficient to support rapid electrification over coming years.”
“While the supply response has addressed the relatively minor growth of today, it is still far from meeting the needs of tomorrow’s EV expansions.”
$ORE.AX $ORL $OROCF Orocobre Ltd – Corporate Presentation – Lithium Producer
$MIN.AX $MALRY Mineral Resources Ltd
“Our Lithium operations are based out of Mt Marion, located in the Goldfields, and Wodgina, in the Pilbara region. We mine and produce both direct shipping ore lithium and spodumene concentrate, which will help fuel the increasing global demand for electric vehicles and energy storage.”
https://www.mineralresources.com.au/our-business/commodities/lithium/
$GXY.AX $GALXF Galaxy Resources – Lithium Producer & Developer
Corporate Presentation – July 2019
$PLS.AX $PILBF Pilbara Minerals Ltd – the story so far… #VIDEO
Lithium Producer – Tantalum developer
$PLS.AX $PILBF Pilbara Minerals Ltd – the story so far… #VIDEO
Lithium Producer – Tantalum developer
Pilgangoora: A World-class Lithium and Tantalum Project – Pilbara Minerals (PLS.AX) (PILBF)
June Quarterly Results Call – 25 July 2019
Ken Brinsden, Managing Director/CEO, Brian Lynn, Chief Financial Officer
Dale Henderson, Chief Operating Officer
http://www.pilbaraminerals.com.au/site/PDF/2435_0/CorporatePresentationJune2019QuarterlyResults
Lowering the interest rate is a bad move for America. Who do you think is purchasing government securities in the open market, ask yourself who would want them? What about gold do you think that gold will be accumulated in The United States when The Reserve authorities are only concerned with the easing of money rates. This continual one step up and one step down in the rates will not stabilize domestic or international currencies but drive them nuts. Business is so mired in debt that this time the lowering of rates will not be beneficial. Money and credit expansion has been so plethoric that the public won’t respond anymore. The authorities are wrong this time the public will not buy into the markets they see what is going on. Now it is a matter of will you overstay this bull market. Is Deflation underway or will we churn sideways for a few more months before the system cracks wide open. DT
Right you are, DT. Lowering interest rates is a bad move but then ANY interest rate manipulation is a bad move. Such centralized control over the most important price of all (the price of money) is the stuff of Marxists/totalitarians. Notice that Trump only has a problem with the way the manipulation is done and not the manipulation itself.
Stockman is correct: Trump is an economics ignoramus.
https://www.youtube.com/watch?v=rc8ZbxVOQDI
DT, Factually, various hedge funds and pension funds have been responsible for the majority of the low interest bond buying.
Remeber that although interest rates are low, as long as interest rates are falling, the bond Value is increasing and there are Capital Gains. Capital Gains plus paltry interest can still exceed inflation.l
Priced in gold, the USD index does not look good at all:
https://stockcharts.com/h-sc/ui?s=%24USD%3A%24GOLD&p=W&yr=5&mn=5&dy=0&id=p57959159627&a=680549847
Stating the obvious, Dr. Copper says the economy is not fine…
https://stockcharts.com/h-sc/ui?s=%24COPPER&p=W&yr=3&mn=9&dy=0&id=p77920051735&a=642514285
(SCZ) (SZSMF) Santacruz Silver Reports Second Quarter 2019 Production Results
> Consolidated silver equivalent production increases by 114% as compared to Q2 2018 and 45% as compared to Q1 2019
> Veta Grande silver equivalent production increases by 185% as compared to Q2 2018 and 18% as compared to Q1 2019
> Rosario silver equivalent production increases by 48% as compared to Q2 2018 and 145% as compared to Q1 2019
http://www.santacruzsilver.com/s/news_releases.asp?ReportID=854758
Gold up 1.6% in overseas trading to $1455.80.
It would be nice if Silver would get the memo and play a bit more catch up relative to Gold this week. Silver could easily move in the $17’s.
Gold now at $1464.90 up 2.3%
Silver at $16.51 up 2.1%
Short term, we’ll be lucky if silver can just hold its own vs gold. Look at the daily MACD for GLD:SLV…
https://stockcharts.com/h-sc/ui?s=GLD%3ASLV&p=D&yr=1&mn=0&dy=9&id=p21041812772&a=577228753
Thanks. I guess it is just surprising that Silver seems stuck around $16.50 when Gold is treking up past $1473 this morning.
Back in 2016, when $Gold surged to $1377.50, $Silver was up above $20+, so it a bit disappointing to see it stuck in the $16’s when Gold is now $100 higher than it was back then and breaking out to new recent highs.
Silver manipulators………..EX……you have not been reading silver stealers .net… 🙂
Don’t worry guys, silver will break out and have its day.
SILJ breakout (even though silver has not made a new high):
https://stockcharts.com/h-sc/ui?s=SILJ&p=D&yr=1&mn=8&dy=0&id=p66566573571&a=639264264
Something strange about the reaction to SILVER……
Historically,,,,,,,,,Silver always the step child…..in the USofA….go back to 1890…
SILJ is telling us not to worry about silver getting smacked down.
It would just be ideal for the miners in SILJ if Silver got back up above $18 heading towards $20 as that really makes an impact on most producers margins.
It looks like the miners are starting to price in that move ahead of time as they’ve been pretty strong today.
At $1477 Gold one would think $20 Silver is more than reasonable, and yet it continues to lag….
At this rate……Silver will have to go parabolic , just to catch up to gold…… 🙂
OOTB -Silver going parabolic would not hurt my feelings! 🙂
Ex…….I did not think it would….. 🙂
Currently SCZ and IPT are my largest holdings and I am happy with that. My weighting could change quickly but I have a core that I will keep for the main price movement, hopefully up, haha.
Geez Dan, I can see why you’re happy with that. I just want to know why I didn’t get the memo about SCZ in May!
I’m happy for you. 🍻
https://stockcharts.com/h-sc/ui?s=SCZ.V&p=W&yr=3&mn=11&dy=0&id=p43737683007
I picked up a couple downtrodden stocks that would give a huge return just returning to their former glory. So far so good!
Agreed then, Santacruz, Exellon, Alexco, First Majestic, and Impact, are big positions for me that have moved well lately.
USAS Americas Silver has had a nice move as well.
Currency War Begins: Chinese Yuan Crashes Past 7 To New Record Low As Global Markets Tumble
Update 2: – China’s central bank has confirmed that it is, indeed, on, saying that it is able to keep the yuan exchange rate at a reasonable and balanced level – whatever that means – while acknowledging that the Yuan plunging beyond 7 per dollar is due to market supply and demand, trade protectionism and expectations on additional tariffs on Chinese goods.
Monumental moment for MXSG
Agreed. Pour gold, and most investors haven’t even picked them up on their radar yet.
Ever Upward!
DANG GOLD looking GOoooooooood………..$1461…., but, the Crimex markets are not open
SPOT ON……..so far………… 🙂
On August 2, 2019 at 4:34 pm,
Matthew says:
Gold hit resistance today and closed near it while finishing the week at its highest weekly close of the year (by a $30 margin). Gold was a MACD sell for the last month but never did go lower.
Now a daily chart MACD buy, it looks like it will be going higher next week…
Thanks Jerry! 🍻😎
You are welcome……glad to have the info….and thank you….
By Ambrose Evans-Pritchard
The Telegraph, London
Monday, August 5, 2109
China has hit back against the Trump administration with a drastic exchange rate devaluation, almost guaranteeing a superpower showdown and a lurch towards full trade war.
The yuan blew through the symbolic line of seven to the dollar for the first time since the global financial crisis, with the offshore rate in Hong Kong spiking to 7.07 in moves that stunned seasoned traders.
This escalation comes at a highly sensitive moment. A meeting at the White House in late July actively discussed using the U.S. Treasury’s Exchange Stabilization Fund to buy foreign currencies and drive down the dollar as a matter of policy — an extraordinary moment in the history of the world’s paramount reserve currency. It is no surprise that gold has surged to a five-year high of $1,470.
So true Ex. Gold is looking increasingly strong as time progresses. For that strength to progress throughout all PMs, it would be nice to see silver go through a good period of catch up.
Without gold being taken down significantly, I think the GSR to fall below 80 is almost as significant as gold pushing through the major $1500 area. Currently, I think gold hitting $1500 will happen first. We shall see. I still cant rule out another takedown in the gold market. However due to its increasing strength, I cant see it going lower than the former resistant area of 1360-1380. Of course the complete opposite could occur, Im certainly no expert.
Good thoughts Ozibatla. Yes, a GSR under 80 seems reasonable considering the recent strength in PMs, but Silver is just barely moving as Gold keeps trekking higher. I agree that Gold hitting $1500 is a more likely scenario than Silver getting to $19 or $20, but it just blows my mind that at $1377 Gold, Silver was near $21 and not it can’t seem to break up through $17. Silver needs to get it’s rear-end in gear already.
Too right it does! Unfortunately the safe haven sentiment we are witnessing is filtering solely towards gold whilst silver is forgotten. This will change eventually!
SOMETHING JUST HAPPENED>>>>>..
11:53p ET Monday, August 4, 2109
Dear Friend of GATA and Gold:
A friend who has not been paying close attention to the gold market for a while asked your secretary/treasurer this afternoon for a summary of his outlook. With the monetary metals on fire tonight as they have not been for a long, long time, maybe the reply is worth sharing:
1) The gold market has felt very different for months — felt much stronger.
2) The usual central bank-instigated smashdowns, which used to depress the price for weeks or months, now are failing to keep the price down for more than a day or two.
3) The New York Commodities Exchange’s gold market has been operating very differently, with most contracts seeking delivery converted into a formerly rarely used mechanism called “exchange for physicals” whereby they are settled somewhere off the exchange, apparently in London. Until recently this mechanism was said to be used only in emergencies. Now it seems to be settling most Comex gold contracts. The implication is that there is little or no gold available immediately in Comex vaults. Whatever it means, there is a huge change here.
4) The “exchanges for physicals” seem to be rolled over in London every two weeks to escape ordinary reporting requirements. This implies that the sellers are trying to hide something. Of course that the major powers in the gold market are trying to hide things is not new, but that they are using new mechanisms of concealment is new.
GOLD more valuable than Palladium…$1465 vs..$1409………….FINALLY….. 🙂
The bankers must have slipped through a back door in one of wall street’s financial buildings this morning, to discuss the trade wars, the stock market, and the fear trade. There will be volatility galore all week and look for the unexpected, or dare we say the reckoning. DT
Ex, I’m glad you have built a firewall around your portfolio. LOL! DT
One brick at a time……. just another brick in the fireWall.
London closes and US slams gold !
see note below……..game a little different now….according to gata
$1469….gold………charts are going to start looking a whole lot different now….
Topic covered ……….
3) The New York Commodities Exchange’s gold market has been operating very differently, with most contracts seeking delivery converted into a formerly rarely used mechanism called “exchange for physicals” whereby they are settled somewhere off the exchange, apparently in London. Until recently this mechanism was said to be used only in emergencies. Now it seems to be settling most Comex gold contracts. The implication is that there is li
Now it seems to be settling most Comex gold contracts. The implication is that there is little or no gold available immediately in Comex vaults. Whatever it means, there is a huge change here.
What am I missing something?
Gold is up but my shares have zero volume, anywhere Im looking says the markets are open.
If they are open whats with the zero volume?
THX Mat.
I thought it was closed but everywhere I looked Aug 5 was missing for some reason,
Bob didnt even have the info on 321.
Whadupwitdat?
I don’t know but boy do I dislike holidays!
U.S. listed silver stocks including USAS, AXU, ASM, were up big this morning, but have faded on heavy volume. Still up on the day, but the high was lower than the most recent peak (short term double top) or just shaking the tree for the next ride up? Stocks are way above the upper bollenger band of the 200-day moving average, but the weekly charts still look constructive riding the upper bollenger band. Who knows.
Yes, I did some rebalancing on a number of stocks today in the Silver space, trimming some and adding to others. Lots of action today.
Was 9/11 A Plot to Seize Power?
QUESTION: What is your view on the new demands for an investigation that there is “overwhelming evidence” that the buildings were brought down by explosives?
https://www.armstrongeconomics.com/world-news/conspiracy/was-911-a-plot-to-seize-power/