With the Dow surging and bonds tumbling along with the metals, Peter Schiff discusses his $5,000 gold call and today’s pullback in gold and silver.
Peter Schiff On Today’s Pullback In Gold
September 5 (King World News) – Peter Schiff: “Both gold and Treasuries are being sold today as investors take down their safe haven bets and put on more risk due to unrealistic hopes of an October trade war resolution. But gold and Treasuries are opposite investments. Inflation will destroy the value of bonds, but not gold!
Gold is trading lower on news that China and the U.S. will resume trade talks is Oct. Though an actual truce is unlikely, gold’s rise is not related to the trade war, but to the currency war, which will continue to wage. In a currency war the only winners are gold and silver!
My $5,000 Gold Call
Most investors think my $5,000 gold call is crazy. But what’s crazier negative interest rates or $5,000 gold? In the insane world of negative interest rates, $5,000 gold is the one thing that makes sense. In fact, $5,000 for an ounce of gold will likely prove to be a bargain!…
BONUS INTERVIEW:
To listen to Doug Casey’s just-released KWN interview discussing his prediction of financial and economic chaos and a panic into gold CLICK HERE OR BELOW:
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Gold Down, US Dollar Down
Ole Hansen, Head of Commodity Strategy at SaxoBank: “Gold down, USD down => Biggest daily drop in XAUEUR since June 15, 2018 (see below).
Gold Priced In Euros Saw Its Biggest Daily Drop Since June15, 2018
Go Big, Or Go Home
Frederik Ducrozet, Global Macro Strategist: “ECB QE2: Go Big, or Go Home. We estimate that a new QE programme worth at least €600 billion is needed for the ECB to close a 0.50% inflation gap.”
The Greatest Debt Driven Recovery Of All Time
Sven Henrich: “The greatest debt driven recovery of all time is trying to get itself out of trouble by issuing, wait for it, more debt.”
In case you missed it…
$1,550 Gold
Eric King: “John, although K92 has had a pullback after a huge run, the underlying cash flow for the company has to be exploding with the price of gold near $1,550.”
$100 Million Of Profit, All-In Sustaining Costs Below $700
John Lewins, CEO: “The PEA shows that our all-in sustaining costs will be below $700 an ounce. And so when you are sitting with over $1,500 an ounce as the gold price, K92s margins are pretty substantial at well over $800 an ounce. And going forward, with the ramp up in production and the decrease in the all-in sustaining cost to produce, at these metals prices our long term shareholders understand that we will be generating a lot of cash. With production for 2020 slated to be 120,000 ounces of gold, at $1,500 gold we are talking about roughly $100 million of net profit.
Mining Friendly Country
And, Eric, we are talking about a very mining friendly country that is already working with Barrick Gold and others to renew their mining licenses. This is a country that is saying very categorically that they want mining development, they want companies coming in and creating jobs and opportunities for economic growth. Our license isn’t even up for renewal until 2024, so the recent reaction in our share price over this issue was ridiculous.
Rapidly Expanding High-Grade Gold Production
We also have 6 drill rigs operating and results pending, and this year every single hole has been hitting the vein system, which demonstrates how robust this high-grade gold system really is. This large scale drill program has us in a position to shortly announce a new resource estimate, which will lead to an updated PEA that will be the catalyst for us to expand production beyond the 120,00 ounce production target that is already underway. So the current pullback in the share price represents a huge buying opportunity for those looking to take advantage of what we anticipate will be temporary weakness in the stock before the share price heads to new all-time highs.” K92, symbol KNT in Canada and KNTNF in the US.
Hansen: Important Gold & Silver Update, Plus A Surprise
READ THIS NEXT! Hansen: Important Gold & Silver Update, Plus A Surprise CLICK HERE TO READ
More articles to follow…
In the meantime, other important releases…
Gold On Target For $1,800, Leverage 2008 vs Today, Bonds, Oil And What Would Be Bad News For The World CLICK HERE TO READ
$1,000 Silver, China’s Banking System Leveraged Nearly 50-1, Plus Look At What Just Hit The Highest Level In 40 Years CLICK HERE TO READ
“Poison” For The Entire Global Financial System Is Spreading CLICK HERE TO READ
$2,764 Gold, What A Summer For Silver, A Crazy World, Plus Chart Of The Day CLICK HERE TO READ
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