Weekend Show – Peter Boockvar and Marc Chandler – Economic Data Review; US Market, Interest Rate, Gold, Bitcoin and Oil Outlook
Welcome to The KE Report Weekend Show. On this Weekend’s Show we are joined by two of our favorite generalist guests who balance current economic data with market moves. We typically focus on how moves in the largest markets filter down to the other markets we follow closely.
We hope you all enjoy this Weekend’s Show!
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- Segment 1 and 2 – Peter Boockvar, Chief Investment Officer at Bleakley Financial Group and Editor of the Boock Report kicks off the show by sharing his assessment of the weakening economic data out of the US. We discuss the nuances to watch for in the data and how it will carry over into 2024. We then get Peter’s outlook on interest rates, gold and gold stocks, oil and Bitcoin.
- Segment 3 and 4 – Marc Chandler, Managing Partner at Bannockburn Global ForEx and Editor of the Marc to Market website joins us to recap the November jobs data, released on Friday. We then discuss the drastic trend change of interest rates since November. Next up Marc highlights 3 market moves this last week that tell a bigger story about investor positioning. To wrap up Marc outlines a big week ahead of central bank meeting and economic data.
Well you’ve definitely lost it in this post.
If anyone has lost it, it is you Brumple, recently you claimed Bayhorse Silver had over 1 billion shares and as I pointed out you didn’t even spend the time to look up how many shares they actually had which was 255 million, 1/4 of what you reported. Even your posts provide no information other than your complaints. Get a life away from living in a room and complaining. DT
This is what I mean when I say you can tell a lot about how well a company is run by management when looking at their website. Here is a December corporate presentation put out by Maritime Resources. All the information you need as an investor is laid out in a clear concise manner that is user friendly for anyone except Brumple because he never even reads the labels on his med bottles. LOL! DT
https://maritimeresourcescorp.com/site/assets/files/5515/december_2023_corporate_presentation.pdf
No interest Newfoundland explorers <nickel with share count approaching a billion.
Grumble, its 450 million away from a billion but that’s too hard for you to figure out! I will agree that their share count is way too high and someday they will have to do a roll back, a reverse split, or a consolidation that management likes to call it. They mostly have gold credits with some base metals. I believe they will be acquired by NFG for their two mills Pine Cove (1300 TPD) and Nugget Pond (700 TPD) plus a deep-water port. They are also producers with exploration upside potential. DT
https://tinyurl.com/yvznyxcm
NatGas Week: Very Deep
Consolidation?
The technical aspect of Natural Gas* has changed dramatically from that of last year (2022). Back then factors other than weather had similar if not greater impact than weather itself.
Not so now, at least not so far. I was expecting LNG production to influence pricing, but this has yet to materialize.
The 78.6% pull back level is penultimate support. Next potential target zone: the April low!
*I use XNG/USD, a CFD (Contract For Differences) which is a class outlawed in the U.S., but useful for analysis.
Thanks for the show! Too bad the miners got slammed this week, but this coming week should be interesting with CPI and Fed upcoming.
Much appreciated Charles, and yeah if was tough following up such a positive previous green week before, with this last week being much more in the red for the PMs and commodities in general.
After the party there is the hangover… but this corrective move down follows important breakouts on the longer-term monthly and weekly charts for gold. Those chart breakouts matter for the overall medium to longer-term set up in the PM sector. It’s important not to loose sight of that during short-term volatility.
Agreed. Thanks for the reminder Ex!
Platinum and palladium are with $13 of each other…. humm who would have thought… platinum has held up well over the year… JMO…
Great observation OOTB. Yeah is it wild what a pricing delta there was 1-2 years back between Palladium (which had scorched higher to well over $2900 an ounce), but closed on Friday on the futures contract at $950; and Platinum that has been mostly in a range from $1130-$830, and closed Friday on the futures at $922. So on the futures market it’s about a $28 spread (a little different than the spot physical market), but the point is still the same. These 2 PGEs are now essentially priced the same near parity.
It does bring up the question of if Palladium may be substituted out in favor of Platinum, and still points to the larger mismatch between Platinum prices and Gold prices. Throughout most of recent history, Platinum held a premium to Gold in pricing and now Pt is $1000 below the price of Au. I remember a few decades back being proud of to go from a “gold” level credit card to a superior “platinum” level credit card. Haha! Many companies still have an ascending membership level that goes silver level, gold level, and platinum level. Maybe all of that will need to be rethought and rebranded if this pricing mismatch persists.
It wouldn’t surprise me if Platinum ends up raising a few eyebrows over 2024 and 2025 as it starts to claw back some higher levels, eventually gets a premium to palladium, and also narrows the spread with regards to the gold to platinum ratio.
I have one platinum stock and they are a South African producer on The TSX-ELR, Eastern Platinum, they are up 40% in one week. I think it is going much higher! DT
I just like the phyz…. small platinum coins… which are in limited supply… and are no longer made at the US Mint… I think they are sleepers …. JMO
One oz. coins , no big deal…
I got some Roman coins on the internet about 8 years ago, you can’t get them anymore The Chinese traders grab them as soon as they show up, impossible to beat them, plus they have driven up prices. DT
I have been going to coin dealers stores for years on a regular basis…, and you rarely see any roman coins in their inventory….
Some junior names with potential, a number of these names are very familiar with investors here or they should be. Bob Hoye
day GDX is oscillating around good support….Many times there is no need to predict anything…The fed on wednsday should put in a low in miners or overnight w /GC futures…..and for me most importantly the technicals intra-day allow for a positive move up…But the daily has curled down w MACD and slow stoch….so a sell off possibility does exist….i will post charts latter…glta
Credit Markets can deteriorate overnight- Rick Rule
There’s no doubt that Mark Mead Baillie is correct in his assessment that gold’s spike to a new high was driven by shorts getting shredded and that the dominant trend is still up.
https://goldseek.com/article/gold-records-calamity-stocks-stark-misfortune-be
Another unnecessary Fed meeting this week. BS flying everywhere. Creative Writing Association filing suit in DC Federal Court.
SIL has retraced half of its $5 move off its 11/13 low…
https://stockcharts.com/h-sc/ui?s=SIL&p=D&yr=0&mn=11&dy=0&id=p58384716302&a=1541231171
SLV:GLD perfectly filled its big 11/14 gap…
https://stockcharts.com/h-sc/ui?s=SLV%3AGLD&p=D&yr=1&mn=5&dy=0&id=p98598080148&a=1554284423
To be fair most investors do no Due Diligence, many do not even go to the company’s website or phone the IR department to talk to the person in charge of investors relations. On the flip side of the coin many company’s websites are poorly designed to disseminate information and often times if you do make a call or send an e-mail to their IR department the company’s never respond. Communication is something that is sadly lacking in our society, and it is getting worse with all these electronic gadgets that consume everyone’s attention all the time. When I am on public transit, I notice mothers on their phone completely ignoring their children while the baby sits in the stroller desperately trying to get attention.
Never before have we lived in a world with so much information at our fingertips, but these electronic gadgets keep us consumed with playing games, looking at pictures of oneself and ignoring the world around us. Our brains were developed over millions of years, and we can’t keep up with the most important part of living which is communicating amongst ourselves. Our species can’t adapt fast enough to the change’s technology has forced upon us. This is a reoccurring theme of mine, but I am sure it will be lost in this post. LOL! DT👍