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RFK Jr. appears with Trump at rally after announcing endorsement

https://www.cnn.com/politics/live-news/dnc-harris-trump-campaign-news-08-23-24/index.html

Not really a big surprise with Jackson Hole going on. Let’s see if it’s just a pause before we pick things back up next week, nothing is overbought. The dollar hasn’t mattered that much during this uptrend in gold but now that it’s breaking down it would be nice to see the correlation work in our favor.

At least we didn’t hit a big round number and immediately get clubbed like a baby seal. Silver did ok thanks to today’s move.

Here’s the COT Report. Seems pretty normal.

CFTC Commitments of Traders Report – CMX (Futures Only)

For sure 💯

1/2 of 1% of investable assets are in pm’s in the US. Minuscule amount. Imagine what that looks like if it were to go to 3-5%?

We’ve got to outperform for a while before we get some attention, or maybe crypto needs a big hiccup.

Bitcoin up 4% today. Just ridiculous.

Gold should be doing better, shares too.

Here a lot of the dealers have the luxury of paying less than spot and still charging a premium. Gold is a forgotten investment in the US these days. We have a bunch of kids that are crypto traders. It so reminds me of the dot com days.

They need a lesson on what the world views as money.

Dollar back at the lows of the day, we should pick up some steam but they have us tied to the SM.

Not to beat a dead horse here, but what you’re mentioning (lack of volume=very low retail participation in PM equities) is the crux of what, IMHO, the Cartel cretins are fighting to prevent…..How the endless naked shorting of these issues gets curtailed is a major headwind, and good reasons why others on this site have mentioned not to get involved in these stocks (wish I never had….).

That’s why I’ve been looking at volume so much. We’re just not seeing an uptick in volume in the shares or GLD & SLV yet. Some of that might be summer, but gold is up 25% and silver 40% this year and we’re still unloved. Maybe after Labor Day we’ll start to see some money come in. Today is big news for gold, and yet GLD might do average volume at best. We should be seeing a lot more interest. SLV doing a little better but we’re not seeing momentum players come in. I think they will eventually, just not sure when. There’s a lot of burned fingers and long memories over the last decade.

I do think we’re just getting started though, and agree with Captain and some of the other analysts. This is the big one, finally.

Here in Canada dealers pay sellers spot price and charge buyers a premium. I’ve dealt with a dozen different dealers and they all committed to that criteria.

Simple supply and demand. Seems the guy who offered $100 under spot just has more people selling to him than looking to buy. Once he has more buyers than sellers, he’ll pay a higher price for more inventory.

I believe in the near future, these smaller dealers are going to have bigger buyers coming in and buying out their stock. That’s when he’ll start offering over spot for more metals. Right now I suspect the little guys are still looking to sell.

Really the same dynamic in the markets, once people in the US start to see pm’s outperform everything else, they’ll jump into ETF’s and miners. This is the first year we’ve done well in a long time. I think they’ll figure it out that the trend is going to continue pretty soon and start to get on board.

I apologize; I know this has been discussed before, but I don’t remember the exact dynamics that will reduce the spread between the Gold spot price and the dealers buying price?

Went to another dealer this morning and they quoted me $100 below spot

Stocks, pm’s

Today is a news day. I want to see how we start trading in the next couple of weeks

“Powell Pivot Is Complete”: Gold, Stocks, Bitcoin, & Bonds Surge As Fed Chair Says “Time Has Come For Policy To Adjust”

https://www.zerohedge.com/markets/its-jackson-hole-day-heres-what-watch

PM’s following. Dollar really getting punched in the mouth.

eeos – very true, there’s not many quality names worth holding. Everything else is a gamble.

I think the currencies will eventually be backed by silver and gold. It’s a recurring theme through the centuries. Maybe it’ll be different this time …

$48K Yikes!

I’m a little surprised the SM isn’t doing better, although it seems demand or lack thereof should factor in at some point. Still, stocks should do well with the falling dollar.

Rates aren’t down as much as I thought they’d be either.

I wonder if Powell will do a .50 cut, making every effort to influence the election, although I don’t know what they can do with the economy, seems pretty late in the game for that.

I think I could run some of these companies better than their boards and I don’t know jack shite about mining. Some of these companies are epic failures. They absorb wealth, return nothing, so you have to watch what you buy.

Fed is panicking now after that jobs report revision. Dollar is getting smashed, but the scum is still in the market doing everything they can to keep things rational. Trying to limit gold to 1% and silver to 2%. All they have left is the rig now.

With any luck, we’ll get our losses back from yesterday, but gold should be up $50+ and silver $1+

It feels like they’re not going to be able to keep the rig going too much longer. Eventually, even US investors will figure out that our pm’s are the cheapest assets in any market.

$48K works. 🙂

These governments, especially the US would be wise to just revalue gold and back their currencies.

I suspect they’d charge private citizens with gold a windfall tax of about 80% though. No way they let Joe Public get rich on Jewelry. 🙂

problems with yet another mine down in Chile now. They’ll weigh on the HUI. Last time they stumbled it was a decent buying op as they recovered pretty quickly. This time, who knows.

So much risk with these miners.

https://x.com/graddhybpc/status/1826878887478866142

Lahontan Provides Corporate Update

https://ceo.ca/@accesswire/lahontan-provides-corporate-update

Radius Gold Extends Drill Program on Plata Verde Silver Project

https://ceo.ca/@thenewswire/radius-gold-extends-drill-program-on-plata-verde-silver

LAURION Reports Promising Summer 2024 Results: Channel Samples Yielding up to 24.9 g/t Au across 0.65 m and Grab Samples Yielding up to 73.2 g/t Au

https://ceo.ca/@thenewswire/laurion-reports-promising-summer-2024-results-channel

Thor Explorations Announces Financial and Operating Results, for the Three and Six Months Ending June 30, 2024

https://ceo.ca/@newsfile/thor-explorations-announces-financial-and-operating-5f252

O2Gold Provides Update on Quebec Aur Transaction; Closes Final Tranche of Private Placement

https://ceo.ca/@globenewswire/o2gold-provides-update-on-quebec-aur-transaction-closes

Goldgroup Announces Proposed Non-Brokered Private Placement

https://ceo.ca/@thenewswire/goldgroup-announces-proposed-non-brokered-private-placement

Antler Gold Provides Update on the Erongo Gold Project Option Agreement

https://ceo.ca/@newsfile/antler-gold-provides-update-on-the-erongo-gold-project

Sasquatch Resources Exercises Option to Acquire Mineral Claim Comprising The Company’s Mount Sicker Property

https://ceo.ca/@accesswire/sasquatch-resources-exercises-option-to-acquire-mineral

Element79 Gold Corp Provides Update on Nevada Portfolio

https://ceo.ca/@thenewswire/element79-gold-corp-provides-update-on-nevada-portfolio

Vizsla Royalties to Commence Trading on TSX Venture on August 26, 2024

https://ceo.ca/@newsfile/vizsla-royalties-to-commence-trading-on-tsx-venture

Sokoman Minerals Commences Phase 1 Diamond Drilling Program at the Fleur de Lys Gold Project, Northwestern Newfoundland

https://ceo.ca/@accesswire/sokoman-minerals-commences-phase-1-diamond-drilling

Dolly Varden Silver Releases Assays on ‘Daughter Holes’ in the Wolf Zone and Raises $28 million

https://ceo.ca/@thenewswire/dolly-varden-silver-releases-assays-on-daughter-holes

Colibri Samples 4.64 g/t Au at the EP Project, Caborca Gold Belt, Sonora, Mexico

https://ceo.ca/@newsfile/colibri-samples-464-gt-au-at-the-ep-project-caborca

North Bay Resources Announces First Gold Concentrate at Mt. Vernon Gold Mine, Assays 12 oz/ton Gold, 17.5 oz/ton Platinum, and 8 oz/ton Silver, Sierra County, California

https://ceo.ca/@globenewswire/north-bay-resources-announces-first-gold-concentrate

Westhaven Expands Claim Package at the Shovelnose Gold Property

https://ceo.ca/@globenewswire/westhaven-expands-claim-package-at-the-shovelnose-gold

Bravada Announces Private Placement and Acquisition of New Gold Project in Nevada

https://ceo.ca/@newsfile/bravada-announces-private-placement-and-acquisition

Hi-View’s Golden Stranger Property Returns Gold and Silver Sample Results and Anomalous Gold Zones

https://ceo.ca/@globenewswire/hi-views-golden-stranger-property-returns-gold-and

With Mine-Restart in Focus, West Red Lake Gold Explores Along 3-Kilometer Strike for New Discoveries

https://ceo.ca/@thenewswire/with-mine-restart-in-focus-west-red-lake-gold-explores

Ridgeline Minerals Executes Exploration Earn-In Agreement with South32 at the Selena Project, Nevada

https://ceo.ca/@newsfile/ridgeline-minerals-executes-exploration-earn-in-agreement-ffb55

Significant Results From Historical Drill Hole Infill Assay Program at Belltopper

https://ceo.ca/@globenewswire/significant-results-from-historical-drill-hole-infill

Geologica Receives Exemption to Acquire a Permit to Conduct IP Survey at Topley Cu/Au Project

https://ceo.ca/@newsfile/geologica-receives-exemption-to-acquire-a-permit-to

Everything is bouncing this am. SM, PM’s, Oil, Bitcoin. The dollar is a little weaker.

Very early and the only thing that matters is what happens when Powell speaks, or his speech is leaked to Steve LIESman on CNBS.

If they’ll turn us back down, that’s when they’ll do it.

So, just watching and waiting to see what happens. Hopefully this sticks, as silver has recovered almost all losses from yesterday, gold about half. Not something I’m comfortable banking on though.