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Market Commentary

Calendar

2020

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  April
  March
  February
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03/06/2020
Weekly  
Friday Recap - 6th March 2020
I think we are all in a bit of shock by the gyrations of the market this week. The volatility has been historic because of the Coronavirus. No one has a clue what comes next or how far the markets will fall. The miners are still not getting a bid. My portfolio is still down 12% from the recent high two weeks ago. So, even with gold at $1673, it feels like we are losing. A big reason for that is the terrible performance of silver, with the GSR currently at 96.7. Without silver, sentiment in the...  more
03/01/2020
Monthly  
February 2020 Commentary
It's Friday, the 28th. After this morning's mauling of gold and silver (both down 5%+ this week) due to the Corona virus, I had to re-write my opening. First of all, I was wrong. I thought that gold and silver would rise this time when the stock market had a sell-off. I thought the fear-trade would kick-in and push them both up, especially gold...  more
02/28/2020
Weekly  
Friday Recap - 28th February 2020
Wow, what a week! The markets were down about 10% and it dragged down gold and silver with it. I was not expecting that and learned something new with this crash. What I learned is that gold does not hedge against a stock market crash. Instead, it hedges against a bond market crash. Bonds are a lagging indicator. Bonds crash after the economy crashes. The stock market is a leading indicator. So, if the Corona virus causes a recession, then bonds will falter and gold (and silver) will rise....  more
02/21/2020
Weekly  
Friday Recap - 21st February 2020
Woo-woo. Nice Friday close. Gold up $24. The HUI close to 250. Silver at the magical $18.50 level. I had a feeling Q1 was going to be good. I was a bit nervous with the stock markets and jobs remaining strong, but we got a black swan - the corona virus. Now we wait and see if we get follow through. Will silver trend above $20 and make the miners fly? Let's hope so...  more
02/01/2020
Monthly  
January 2020 Commentary
The final Q4 and 2019 GDP numbers were released this week, and the economy is holding steady above 2% (currently around 2.3%). With both the GDP and employment numbers stable, the stock market has remained high. For nearly all of January, we had one new high after another (refer to daily S&P 500 chart below). Then this week the Coronavirus has pushed the stock market down. Today was the largest down day since August. Perhaps this 4-month uptrend is over...  more

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