Robert Sinn – Macroeconomic Trends Overlaid with Technical Analysis In The Precious Metals Sector
Robert Sinn, known as Goldfinger over at CEO.ca and writer at the Energy and Gold website, joins us with his technical outlook in gold and silver, a ratio chart of gold versus the financial sector, and what they mean in relation to macroeconomic trends in motion over varying investors time horizons. We start off discussing the importance of the upcoming weekly/monthly/quarterly close in gold, to see if the precious metals can break out of the range they’ve been trading in. We also review the longer-term monthly chart as to the performance of gold over the last 20+ years in relation to inflation and it’s definitely outperformed, and looks poised to continue to do so over time.
Next we shift over to the chart of gold vs (XLF) financial sector SPDR fund, and discuss the current setup in the business cycle, and that we are entering a period where gold will likely outperform the financial sector. This leads to a broader discussion on looking at technical analysis with the overlay of fundamental data points, to get a more holistic view on market action and unfolding cycles and patterns.
We wrap up with getting Robert take on what factors will drive gold, silver, and the PM mining stocks to new higher price levels, and the importance of attracting more generalist investors into the sector.
.
Click here to visit the Energy and Gold website.
.
Robert Sinn makes valid points about putting money in China.
When I left China last year, I went to the bank to wire my money to Australian account. The young Chinese teller had some questions:
Q: Where did you get this money?
A: That’s none of your business.
Q: Did you pay tax on this money?
A: That’s none of your business.
After several more of these kind of questions I left and found another transfer method.
The Chinese don’t like westerners leaving with their money.
Hi Terry, “The Chinese don’t like westerners leaving with their money”, you mean your money, you earned it. LOL! You just said a mouthful. DT
Updating The Most Important Chart: Gradually, Then Suddenly
by @Goldfinger on 24 Mar 2023
“During last weekend’s video, I noted what I believe to be the most important long term chart that investors should be aware of:”
Gold/XLF (Monthly – 20 Year) Chart:
https://ceo.ca/@goldfinger/updating-the-most-important-chart-gradually-then-suddenly
CEO Technician @CEOTechnician (aka Goldfinger…. aka Robert Sinn) 10:15 AM · Mar 24, 2023 – Twitter:
“Recording of an incredible Friday conversation with Eric Coffic @ericcoffin_HRA”
“I think we pretty much covered it all. From #Fed macro to precious metals, junior #mining, and Eric’s origin story. #copper #gold #silver #Yukon $AU.V $BTT.V $HIGH.V $VZLA $WRN.TO”
https://twitter.com/ceotechnician/status/1639315023095898112
Banking Crisis Is How It Starts, Recession Is How It Ends
By Lance Roberts – The Epoch Times – March 25, 2023
“Last week, amid a rash of bank insolvencies, government agencies took action to stem a potential banking crisis. The FDIC, the Treasury, and the Fed issued a Bank Term Lending Program with a $25 billion loan backstop to protect uninsured depositors from the Silicon Valley Bank failure. An orchestrated $30 billion uninsured deposit by eleven major banks into First Republic Bank followed. I suggest those deposits would not occur without Federal Reserve and Treasury assurances.”
“Banks quickly tapped the program, as shown by the $152 billion surge in borrowings from the Federal Reserve. It is the most significant borrowing in one week since the depths of the Financial Crisis. Since last week, that number has surged to almost $300 billion.”
“Since then, UBS entered into a “shotgun marriage” with Credit Suisse, and the Federal Reserve reopened its dollar swap lines to provide liquidity to foreign banks… Historically, once the Fed opens dollar swap lines, further monetary accommodations follow from rate cuts to “quantitative easing” and other liquidity operations. Of course, such is always in response to a banking crisis, credit-related event, recession, or a combination.”
https://www.theepochtimes.com/banking-crisis-is-how-it-starts-recession-is-how-it-ends_5149482.html
SILJ had its best close in 33 sessions (almost 7 weeks)…
https://stockcharts.com/h-sc/ui?s=SILJ&p=D&yr=1&mn=1&dy=11&id=p92798772820&a=1379393343
I think the generalist investor is starting to see value in the precious metal market. The day started out mostly red although the price of precious metal was down today most of my stocks finished in the green. DT
CDE broke through fork resistance and closed above its 50 and 200 day MAs for the first time in 6-7 weeks. Glad I bought it when I did.
https://stockcharts.com/h-sc/ui?s=CDE&p=D&yr=1&mn=0&dy=0&id=p90441027017&a=1381735994
The PHYS discount to NAV continues to disappear rapidly:
https://stockcharts.com/h-sc/ui?s=%21PHYSPREM&p=W&yr=5&mn=0&dy=0&id=p56006954730&a=1334778960
GLD held above a couple of interesting supports:
https://stockcharts.com/h-sc/ui?s=GLD&p=W&yr=5&mn=0&dy=0&id=p58947619693&a=1379339529
Wish I could say things had changed after being able to move about 25% of my account to IBKR but the account mix of some up/some down remained the same today with Emo Up on Schwab and Magna down on IBKR. The only thing that swung things green was Nine Mile had a PR that was positively received after several days on down movement. On the other hand F3 Uranium had an excellent release and got hit, which kept the account otherwise balanced. Although I can’t prove intervention (because if it was possible for retail to prove it, someone important would go to jail), the enlightening part was that intervention appears to be “centralized” getting less attention to the brokerage firms and more on Wall Street for orchestrated programs. However, I have noticed an increase in moving of the bids and asks in response to personal orders at the brokerage level with differences between US OTC, brokerage computers and Cad quotes. Harder to buy but easier to sell.
Gold looks ready to more than Pop!
Uranium too.
The Canadian dollar is at a 3 week high and behaving as it should if the miners are in a bull market.
https://stockcharts.com/h-sc/ui?s=%24CDW&p=D&yr=0&mn=7&dy=0&id=p70861693329&a=1359362289
Good reaction to news by Fathom Nickel. Schwab showing +18%. Crescat follows this one. QH likes it. I like nickel. Batteries like it too. Early stage.
Yeah, we’ve had them on the show in the past, but then they went through a period of minimal news. We’ll reach out soon about getting them back on the show for an investor update.
Lake:
I hear and read that something is going on at Schwab, that is all I want to say. Brokerage houses can and do go bankrupt. DT
Schwab lost in one of the California banks and then claimed they have liquid amounts to cover their business interests. When has that ever meant anything. Insiders pumped Schwab after stock was hit and gave it a bounce.
I was already trying to move my entire account from Schwab before any of it happened. Fidelity set up an account, moved my shares and then rejected all of them even though I had a few stocks like i-85 that was a NYSE stock. They called them all penny stocks with a value under $5 in value.
I had previously (over a year ago) activated an account with IBKR who after activation rejected the account for “credit”, without explanation. I contacted them for an explanation without response. I have 3 houses and 4 cars and froze my only credit accounts 2 and one-half years ago after my email got hacked and I had reset passwords for everything I owned snd I don’t ask for or do Margin Accounts. I contacted IBKR again and the agreed to transfer 25% of my account and the process has taken over two weeks and I can’t trade IBKR.
So … Keep your info to yourself if it is hearsay or rumor. If you know fact, I am sure there are millions out there that would like to know.
I do have the option of liquidating and risk being blocked from trading the same stocks I own by other brokerage firms … which raises questions about all of them.
Kind of a Catch 22 situation for us Miner Traders. I have a few options of buy/sell transfer I am working on but all are raise questions about the system.
Bob M made a really good point on over-the-counter stocks of Canadian juniors trading on the OTC in the US. OTC stocks in The US are not stocks they are derivatives based on the value of the Canadian shares. A derivative is a very dangerous investment, and you would be wise to listen in starting at 29 minutes. I never knew this before because I trade directly on the TSX-V for Canadian stocks. If it is a company like (NFG) New Found Gold you don’t have to worry because it has a real US listing. DT
https://provenandprobable.com/bob-moriarty-its-much-much-bigger-than-a-banking-collapse/
That was a good show.
IBKR converted my OTC to Cad and Aus symbols.
That’s a good result.
Submitted another transfer to see if they will accept it. What a pain. However, both accounts in the green.
DT
Thanks for your info. Got so sidetrack messing with all this.
CDE’s 20 week MA is above its 50 week MA for the first time in 21 months.
https://stockcharts.com/h-sc/ui?s=CDE&p=W&yr=2&mn=2&dy=0&id=p95159331621&a=1382241839
CDE is up 8.7% today thus far, and if it wants to keep the momentum going, with the shorter duration MAs up over the longer duration MAs, and really break out higher, then that is not going to hurt my feelings any.
Nice to see some green on the screen in many resource stocks today, especially some of the silver stocks. GATO is up over 10% as another nice gainer in my portfolio for the silver producers.
SCZ, Santacruz…
It won’t take much for Santacruz to become Santaclause, this month ends on Friday and in another month, they will be reporting 1st quarter 2023 earnings. I expect we will see a jump in production and earnings, especially with silver moving higher. DT
Good one DT. I’m looking for Santacruz to become Santa Clause…..
Christmas may come early this year! 😉
Maybe the $.60 level is next, I didn’t trade anything today.
Hi Dan, I don’t know whether you watched The Rick Rule video I posted a couple of days ago but when silver went to $50 about 10 years ago the small silver producers were the stocks that moved the most, apparently Coeur went from pennies around 46 cents to $65. Like RR say’s that wasn’t a typo, the silver market is so small that with just a modicum amount of buying it can really take off. DT
I’ll check it out, I was in the back country with my utv this weekend, just a gas on snowy trials!;-)
Fear Creates Opportunity – Weekend Video (3/26/2023)
Goldfinger (Robert Sinn)
https://youtu.be/RTNoX0LIxds