The latest market news, commentary and strategy by Adrian Rowney
5 Things that Grabbed my Attention
1. Silver Institute has reported the SILVER deficit last year amounted to a record 238 million ounces!....Let's go SILVERSQUEEZE!! BUY
2. Complete grid collapse in South Africa would see a plunge in PLATINUM production. South Africa is responsible for around 75% of the world's supply - so it's serious....BUY PHYSCIAL BACKED PLATINUM ETF.
3. Jim Chalmers wants to fix the RBA by creating a second board of directors to oversea the original board.....Typical government behavior - create a crisis, then come back with the solution of throwing more government at it....One thing Chalmers definitely exceeds at is wasting our money.
4. I hate to say this, but excess deaths don't look like reverting back to the mean....UK excess deaths rose 21% above the 5 year average in March.....Propel Funeral Partners (PFP) is the one to go for now as the easy money has been made on Invocare (thanks to the TPG takeover bid).
5. Credit card giant, American Express reported record revenue as spending on travel and entertainment surged a whopping 39% last quarter.....I can't see people digging themselves out of the debt hole they are in - it's going to end in tears.
ASX Market Update
ASX 200 down 3 points to 7362
Financials rallied 1.2% while materials fell 2% as traders took profits on miners and moved into banks. (I wouldn't be doing that trade)...BHP fell 2.5%, RIO lost 2.3% while NAB added 1.7% and CBA put on 1.5%.
Here is the latest data on SILVER. In 2022 we saw supply of around 1.004 billion oz with demand shooting up to 1.242 bn oz leaving a deficit of 238 million oz.
This was the highest DEMAND ever for SILVER, yet the price fell 13% - so how did SILVER not skyrocket???...The only explanation is BULLION BANKS shorting and churning SILVER FUTURES in conjunction with mining executives being too stupid to realize they are getting ripped off.
Anyway - thanks to this blatant manipulation we get to buy SILVER at bargain prices!....KEEP ACCUMULATING in your Super!!!
#S32,NCM,EVN,SFR,OZL executives selling SILVER instead of withholding for future higher prices, proves they have no idea about the fundamentals of the market. The banker scumbags have successfully brainwashed them....Last year I tuned into an invite only webinar on the SILVER market hosted by the head of PRECIOUS METALS research @ JP MORGAN. All I got was an hour of pure propaganda and the bloke concluded SILVER was worth $18 an ounce (below production costs!)....Unsurprisingly my questions were ignored.
The Day Ahead
- Our SPI is down 37 points
- Bitcoin down 3.8% to $28,177
Movements affecting our resource stocks today (USD)
- BHP in the US down 3.2%
- Gold up 0.43% to $2015
- Paper Silver down 0.12% to $25.33
- Platinum up 0.31% to $1109
- Copper down 1.59% to $4.01
- Brent Crude down 2.74% to $80.84
- Iron ore down 1.9% to $115.10
Asian Market Update
Japan up 0.18%, Hong Kong added 0.14% and China was FLAT
Looks like the EV makers are squeezing each other as competition heats up....There WILL be casualties.
Shares of #Chinese #NEV makers slide in HK, with Xpeng Motors down more than 7%.
Tesla cut prices for some of its models in US for 6th time this year. Analysts believe price cuts have already and will continue to weaken industry profitability.https://t.co/haGgRmRP6L pic.twitter.com/FzbWinQjH5
— YUAN TALKS (@YuanTalks) April 20, 2023
Global Market Update
DOW down 110 points to 33,786
Tesla shares fell 9.76% as Elon Musk painted an uncertain macroeconomic environment that could dent demand for his EVs.
Germans down 0.62%, Brits FLAT and Frenchies dipped 0.14%
As the GREAT RESET takes hold the anger will grow....
THE FRENCH REVOLUTION 2.0 CONTINUES:
Protestors have now stormed Euronext stock market offices in Paris and call on Macron to resign. (Euronext is the largest centre for debt and funds listings in the world.) pic.twitter.com/rbm9EQAyE9
— Mark Alan Pearce (@PearceAlan1962) April 20, 2023
Key Market Summary