Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Agnico Eagle announces it will be sending home its Nunavut-based workforce from both its Meliadine and Meadowbank mines amid fears of the COVID-19 ...
https://www.cbc.ca/news/canada/north/agnico-eagle-nunavummiut-protest-1.5502726?cmp=rss
Premiums on Junk Silver at APMEX (bags of Quarters) currently at 104.75% ...
https://www.apmex.com/product/5194/90-silver-washington-quarters-40-coin-roll-avg-circ
Premiums on Silver Eagles currently around 96.5% of spot ..... and probably going higher as the supply of real physical bullion is at the very early stage of being locked up .....
* $24.78 = Current price 1 Silver eagle at SD Bullion
* $12.61 = Current Silver spot price
* $24.78 - $12.61 = $12.17 / $12.61 = .965 Premium to spot
The daily volatility in GDX over the past 1 to 2 weeks is likely the most extreme over it's entire history - almost mind numbing vol.
Appears to be panic buying in GDX this afternoon
NUGT and JNUG appear to be blowing up ... they've lost their 3x correlation to GDX and GDXJ
* GDX = +5.89% ..... NUGT = -21.04%
FYI - we were just notified by one of the Swiss refineries that they are raising premiums on ingots (1 kg & 100g bars) by 20% effective immediately...
FYI - we were just notified by one of the Swiss refineries that they are raising premiums on ingots (1 kg & 100g bars) by 20% effective immediately.
— Simon Mikhailovich (@S_Mikhailovich) March 19, 2020
Once the cartel realizes that equities are done for the next couple years, I suspect they will switch to being long and take paper Gold over $5k
Holy Sheep ... just came across this Costco video for the first time ... these stragglers will start lining up at Bullion dealers in about 2 to 4 weeks, but sadly, the free-floating Silver bullion inventory will likely be gone by then ...
Hard to believe that this is real and not a stunt....but it's real. From last Friday in Orange County, CA pic.twitter.com/I56VlmGGDD
— TF Metals Report (@TFMetals) March 17, 2020
Premiums on Silver Eagles appear to have reached 100% now at the main Bullion dealers.
It's on my watch list for when the equities have clearly bottomed.
Premiums on in-your-hand (aka; cash-n-carry) small denomination physical Silver indicates the Supply is currently being squeezed ... paper Silver price could fall a little more, but the developing physical supply squeeze will start to manifest itself in the paper spot price soon as the supply squeeze moves into larger denominations bars, imo.
SSL is a precious metals Royalty company ... I'd focus on building a core position in physical metals in your possesion first (if you havnt already) ... once you have a core position in physical metals, then move up the risk ladder into the precious metals stocks, imo.
I wouldn't expect a fast V recovery in the stock markets - becuase many supply chains are broken, and will take an unknown amount of time for some to come back online.
If history repeats ... highest premiums on the entire precious metals complex with go to what is known as "Junk Silver", aka "Constitutional Silver" - in particular; bags of Quarters.
Worth repeating ...
Premiums on Physical Silver are surging faster than the USD ... the paper Silver price is like the Old man behind the curtain in the Wizard of Oz ... just trying buying a Silver Eagle for anywhere near $12 ... premiums on in-your-hand physical Silver Eagles approaching 80% over just the past 2 weeks, probably going over 100% premiums very soon
They have to do Helicopter Money - or else there would be a huge on the banks within the next 2 to 4 weeks - as the newly unemployed would otherwise be forced to drain their bank accounts to pay their bills/food.
Helicopter Money arrives ...
Helicopter money https://t.co/XBmZqykdGq
— Alvaro Gracia (@alvarogracia) March 17, 2020
Huge move in CDE and some other Silver co's this morning ... CDE was up by 34% this morning ... Silver miners trading like Silver is very close to bottoming.
Bloomberg -- Philippines Becomes First Country to Shut Financial Markets Thanks to Virus ...
https://www.bloomberg.com/news/articles/2020-03-16/philippines-shuts-financial-markets-after-virus-spurs-stock-rout
ALERT; Philippine stock market suspends trading indefinitely starting Tuesday ...
https://ph.news.yahoo.com/philippine-stock-market-suspends-trade-000856990.html
* Trade suspended from March 17 until further notice
If all the stock markets close; rest assured that Gold/Silver have traded for traded for thousands of years, and will continue to trade at well managed Bullion dealers even if the stock markets close.
I prefer trading Options to Penny Stocks ... Options can give you radical penny stock like profits once in a while ... the problem with Penny Stocks these days is the rampant fraud & pump-n-dump schemes ... trading options on NYSE/Big-Board companies isn't subjected to the mass fraud like penny stocks ... but with Options you have to really get the trend & duration of the trade right, or your looking at a quick loss - but I always try to cut each Options trade loss at 10 to 15 percent max.
Another important indicator for PM sector ... GDX significantly outperformed stocks for first day in aprox. last 6 trading days ....
GDX vs. DJIA - 10 day chart .....
https://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=Fund&symb=GDX&time=18&startdate=1%2F4%2F1999&enddate=2%2F7%2F2020&freq=8&compidx=aaaaa%3A0&comptemptext=djia&comp=djia&ma=0&maval=9&uf=0&lf=1&lf2=0&lf3=0&type=2&style=320&size=2&x=42&y=14&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=12
When Silver starts noticeably outperforming Gold on a daily basis again = should be an important turning point for PM sector on a short-term basis at a minimum.
I was thinking about buying some JNUG late Friday - but didn't as didn't want to hold it over the weekend ... but I ended up netting around the same by flipping GDX options today.
First day in last 6 trading days that GDX has outperformed the metal - Gold stocks looking for a bottoming process ... when Silver starts outperforming Gold = further confirmation of nearing bottoming process ...
* GDX vs. Gold - 10 day chart ....
https://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=Fund&symb=GDX&x=36&y=20&time=18&startdate=1/4/1999&enddate=2/7/2020&freq=8&compidx=aaaaa:0&comptemptext=GLD&comp=GLD&ma=0&maval=9&uf=0&lf=1&lf2=0&lf3=0&type=2&style=320&size=2&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=12
* Gold vs. Silver - 10 day chart ....
https://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=SLV&x=38&y=18&time=18&startdate=1/4/1999&enddate=2/7/2020&freq=8&compidx=aaaaa:0&comptemptext=GLD&comp=GLD&ma=0&maval=9&uf=0&lf=1&lf2=0&lf3=0&type=2&style=320&size=2&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=12
GDX significantly outperforming the metal today ....
* GDX vs. Gold - 1 Day chart .....
https://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=Fund&symb=GDX&time=1&startdate=1/4/1999&enddate=2/7/2020&freq=6&compidx=aaaaa:0&comptemptext=GLD&comp=GLD&ma=0&maval=9&uf=0&lf=1&lf2=0&lf3=0&type=2&style=320&size=2&x=38&y=20&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=12
Another good quick GDX options flip ... 2 out of 3 in the green today ...
* 2 GDX Call trades in the green
* 1 GDX Put trade in the red
First Majestic Silver up 12% right now (one of the biggest pure silver co) ... shorts using current weakeness to close short positions, imo
A good quick flip in GDX calls this morning
Physical for long-term wealth preservation ... Gold stocks and their options are generally only good for day trading & swing/cycles trading ... Gold stocks haven't been suitable for long-term investments for close to a decade - see 10 Yr. comparison chart below showing the GDX (Gold Miners index) vs. Gold bullion ...
* GDX vs. Gold Bullion 10 Yr. chart ...
https://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=Fund&symb=gdx&time=20&startdate=1%2F4%2F1999&enddate=7%2F4%2F2017&freq=2&compidx=aaaaa%3A0&comptemptext=gld&comp=gld&ma=0&maval=9&uf=0&lf=1&lf2=0&lf3=0&type=2&style=320&size=2&x=48&y=17&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=12
However, if Gold was to enter a new pricing paradigm (like the US going back to a Gold standard) I suspect Gold stocks would become viable as long term investments again as spot price would likely increase considerably - which would dramatically affect Miners profitability.
From what I heard this afternoon on the FED conference call, the FOMC rate policy meeting that was scheduled for the 18th (Wed) was moved to today.
For trading purposes; What I'll look for tomorrow in regards to trading precious metals is; what is Gold correlated to now? .... for example; Gold can be like a chameleon; sometimes it trades inverse to USD, sometimes it trades inverse to stock market, sometimes it trade in conjunction with stocks, sometimes it trade in relation to geo-politcal events, and so on, and so on .... so tomorrow, I'll be watching how Gold trades in relation to several different markets/indicators to discern what the primary driver is affecting the Gold market the most for trading purposes ... with the FED now going all in, Gold should do well, but it's possible it does not - it may be correlated to stock market like it has been generally over the past couple trading days except for late friday afternoon (and i suspect stocks are dead until the virus thing is resolved) - we shall soon see where Gold takes it's ques from this week.
If your buying for long term investment; I'd just start scaling in using dollar cost averaging, because over the long-term it's probably going higher.
Once you understand how the PPT works ... you can use it to your advantage, IE; to keep the sheeple invested in stawks, the PPT tends to ...
* Ramps the stock markets Friday afternoons
* Smashes Gold Friday afternoons
* Ramps the stock markets Monday mornings
* Smashes Gold Monday mornings
* Smashes Gold leading into FED meetings
* Ramps the stock markets going into major national holidays
Yes ... I'm hoping the PPT smashes the spot price so I can get a better entry price Monday morning.
NY the first state to kick off the US bank runs ...
https://www.zerohedge.com/markets/its-frenzy-rich-are-making-run-banks-hamptons
$700 Billion QE is just the appetizer ... they are going to need a much bigger boat ...
BREAKING: Federal government to control and oversee grocery distribution with govt / private sector partnerships: Wal-Mart, Costco, Target, Kroger, top grocery chains to be deemed “critical infrastructure” … National Guard to protect key distribution points ...
https://www.naturalnews.com/2020-03-15-federal-government-to-control-grocery-distribution-national-guard.html
NYC Comptroller Calls For 'Citywide Shutdown' As Virus Hits ...
https://www.zerohedge.com/political/we-cant-go-business-usual-nyc-comptroller-calls-citywide-shutdown-virus-hits-city-schools
I'm looking for a possible bottom in the Precious Metals to potentially coincide with this weeks FED meeting on Wednesday ... the FED is going to have to "kitchen sink" fiscal/monetary policy to save the economy from completely melting down back into the stone age ... Silver might lag Gold for a little while still ... but there are only 2 places one can park money right now without extreme risk, and those 2 places are either cash or physical Gold bullion in hand.
People who are not in the precious metals business or who aren't serious longer-term bullion investors are generally unaware that during the 2008-to-2009 financial crisis, Silver Bullion was essentially unavailable for aprox. 1 year due to exceedingly strong demand for real/physical Silver bullion ... if you tried buying Silver bullion during this time period, it was essentially unavailable ... Gold bullion was also in a supply crunch during this time period, but not as bad as the Silver supply deficit ..... imo, we may soon be in another supply crunch scenario for bullion again ... this weeks drop in spot price actually makes Silver more attractive for those with cash who are concerned about the continuity/integrity of the equity markets and other financial markets ...
https://www.zerohedge.com/commodities/price-physical-gold-decouples-paper-gold