PM Weekly Market Commentary – 03/20/2020

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  • Mon, Mar 23, 2020 - 06:11am



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    Texas Precious Metals has inventory again

They got a shipment in but the premiums are still through the roof. If you buy a monster box of 500 silver American eagle coins (mixed dates) it’s US$9.00 over spot!

A 1 oz gold Krugerrand is $150.00 over spot.

  • Mon, Mar 23, 2020 - 06:21am



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    Unlimited QE

And here’s jmone’s Weekend Bazooka:

The Federal Reserve on Monday announced a massive second wave of initiatives to support a shuttered U.S. economy, including buying an unlimited amount of bonds to keep borrowing costs low and setting up programs to ensure credit flows to corporations and state and local governments.

The Fed will buy Treasuries and agency mortgage-backed securities “in the amounts needed to support smooth market functioning and effective transmission of monetary policy to broader financial conditions and the economy,” and will also buy agency commercial mortgage-backed securities, according to a statement. The Fed had said a week ago it would buy at least $500 billion of Treasuries and $200 billion of agency MBS.

Bonds were hit pretty hard (30 year down 3%), gold up (+36 +2.49%) along with silver (+0.50 +4.12%).

Equities went from down -3% to up +1.5%.

This is all before market open.

  • Mon, Mar 23, 2020 - 07:14am



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    PM Weekly Market Commentary – 03/20/2020

The FED is going to PRINT and BUY everything!  This is very hard to envision.  Unprecedented.

Time to move some cash to Gold and Silver?  Am I missing anything?

  • Mon, Mar 23, 2020 - 07:22am



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    Cash to metals…

Nope, spot on.

I did just that this AM.  Moved a portion of cash savings to $PSLV/$PHYS.

If there was ever a time to overweight precious metals, it is right now.

  • Mon, Mar 23, 2020 - 08:25am



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    Trading the bounce

Hey Mr. DF,

It looks like there is strong support around 2100 for the S&P 500. Besides shorting the long bond, what other plays do you favor for the coming bounce?

  • Banks? (BAC, XLF)
  • I don’t think I’m interested in airlines, though I could see them making a big move.
  • Mall REITs and/or Retail? (MAC, SPG, SKT, BBBY)
  • I’ve been looking into e-sports and gaming plays, but the price action seems unclear to me. They are doing well today. (EA, ATVI, HEAR, TTWO, etc).
  • Oil/Gas? (WMB, TNK, STNG, EPD, HAL, COG, XOM)
  • Copper Miners? (RIO, BHP, FXC, SCCO)
  • Tech?

If traders drink the cool-aid on this bounce where do they invest? Big dividends or growth?

Thanks brother…Jeff

  • Mon, Mar 23, 2020 - 11:03am


    Montana Native

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    PM Weekly Market Commentary – 03/20/2020

Hey guys, I’m looking to open an account and get into some paper PM plays. I haven’t traded in years and used Scott Trade last time. Any advice on the best trading platform. I’m a total novice, but long time PM investor. P.S.   I gambled on ordering the drugs from India. Used express shipping option. Figured it was worth a $120 gamble.
Thanks, TJ

  • Mon, Mar 23, 2020 - 11:31am



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    Alert: JMBullion has fractional and 1 oz. Gold, Silver in stock NOW

Like many on-line dealers, JMBullion has been out of stock on fractional gold and silver for the past several days. I received alerts and confirmed that right now they have 1/10 – 1 oz. 2020 American Gold Eagles (AGE); and 1 oz. 2020 American Silver Eagles (ASE) available. (Brilliant, uncirculated.)

The premiums over spot are higher than they have been due to supply and demand issues. The 1/10 AGE is going for about $190 (higher depending on payment method) and the 1 oz. ASEs are going for about $22-23. There’s now a minimum order requirement of $299 and delivery delays of 15+ after payment clears. Free delivery. Based on my experience and that of my family and friends, this is a reputable dealer providing excellent service.

My local PM coin shop is closed due to the lockdown and he is not selling to other than his regular customers, for cash and by appointment only–assuming he can get specific PMs due to supply issues.


Disclosure:  I don’t have any business or personal relationships or interests with JMBullion or its personnel.

  • Mon, Mar 23, 2020 - 12:41pm



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    Unlimited QE: risk off

Well, here we are, in the last 30 minutes.  Unlimited QE has resulted in a very strong bounce for SPX, followed by a sell-off that has resulted in a complete unwind of said bounce, and a little bit more.

Gold +75, silver +0.82, TLT +3.69%.  Copper -4.17%, SPX -4.17% (!), JNK -2.53%.

We might well close at the lows of the day for SPX.

Sector-wise: XLE led lower along with XLU, while XLY & OIH did best (if you exclude the gold miners, which shot up +13%/15% respectively).

So no bounce for SPX.

Trump tells us that the COVID chloroquine trial begins tomorrow in NYC.  This suggests we will have data by Sunday.  Just in time for market open on Monday.

We have a timeframe.  A date certain.  Which way do you think it will go?

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