➡ The article discusses the current state of the precious metals market, highlighting the unpredictability of prices and the breakdown of traditional market correlations. It also covers the trend of countries like Russia and Mali nationalizing their gold resources, indicating a global move towards protecting national resources. The article suggests that this could be the start of a new phase for all metals, where prices are driven by panic buying and selling, and short positions can no longer be hidden.
➡ The article discusses global strategies for managing precious metals, focusing on copper, silver, and gold. Countries are discouraging the export of these metals while protecting their raw materials through high taxes or prohibitions. The U.S., for example, is encouraging domestic mining and refining to boost its industries. The article also suggests that the world is moving away from globalization, emphasizing the importance of securing local supply chains, starting with raw materials.
➡ The article discusses the current state of various metals and Bitcoin, suggesting that these commodities are becoming more valuable. It also mentions that banks are trying to buy silver, which is largely controlled by China. The article also talks about the increasing protectionism in the U.S., with the government safeguarding resources like aluminum, steel, and copper. Lastly, it highlights the progress of Dolly Varden Silver, a company that has been expanding and acquiring assets, supported by large institutional shareholders.

Silver has a, we have a mid year high all time mid year high, which attracts macro discretionary. And I’ll admit I was a little bit nervous. They weren’t coming in as quickly as I thought they would. But now they’re in and they’ve been battling each other. Some are buying gold, some are buying copper, and that whole thing is going on. But and this is key, just, I’m telling you, long term, it’s going up. It’s just going up. Welcome to the morning Markets and Metals with Vince Lancy, where each morning Vince brings you the financial and precious metals news skits.

You ready for your day? And now here’s Vince. Good morning, everyone. I’m Vince Lancy and this is the Gold Fix Market rundown for Friday. We’re going to be discussing the two stories on the right hand side of the page. Russian nationalizes its gold. That’s a little bit hyperbolic, but it’s effectively what’s going on. And Molly seizes 117 million in gold from a barrack mine. Middle a dispute. We’re also going to discuss what those two things have in common and they are mercantilism, nationalization, protectionism. Essentially, people are looking out for their national resources, Donald Trump included, by any means necessary.

And we’re going to explore that and those two stories in the main section as well as go through what the metals are doing, why we think they’re doing it, and why this could be the beginning of another big phase for all metals. There will be no more hiding of the P of what you’re short if this, if this continues, we believe. All right, first, the markets 10 year yields are up for the dollar is 97, 86, up 29. Metals are up despite that. S&P 562, 48, down 27. Love to see it. When metals are up and the dollar is up, the Vix is 1674.

Hold on timeout. Yields are up, dollars up and stocks are up. Okay, I got to think about that. Gold 3349, up 25. Catching up to silver at 3756, up 57. Copper 542, down $0.12 over 2%. WTI up $0.49. 67.82. Natural gas 333, up $0.04. Bitcoin 118,000. New all time highs and starting to run in fits and starts. Up 2000. Palladium up 15. Platinum down 14. Gold, silver down 75. Breaking new ground lower now. Grains are all down uniformly in percentage terms. Okay. Looking at that board there are macroeconomic neo Keynesian correlations that just are not holding up today.

The first one is the dollar is up and the metals are up. The second one is why are, why is silver up and copper down? The third one is why is palladium up in platinum down? And each one of these is showing you the breakdown in neokanesian correlations and the relationships that we used to believe were true are no longer true. What I will say, just as a quick preview of the whole let’s go through the metals thing chart thing, is that the metals, all commodities, but the metals right now are increasingly being price driven by.

Who’s panicking at that moment? Oh my God, I’m sure. Copper, buy it. Oh my God, I’m short. Silver, buy it. This is what’s happening right now. Because people can’t see past their noses of their own short term risk. And that’s fine. That’s what you’re supposed to do. However, in the past when you were long gold and you were worried about gold, you’d short silver. Well, now silver’s going up. Well, cover your silver, put it into platinum. Well, now platinum is going up, covered. Cover the platinum, put into. Into palladium. Now palladium is going up. The cycle of the hiding of the P is not working.

You have to keep moving it around, robbing Peter to pay Paul. It’s essentially a daisy chain of commodities that is starting to happen. And the daisy chain concept simply is this. You account for things being in more than one place at the same time. It’s there. No, it’s there. It’s there at the same time. It’s in both places because you’re not looking at both places. Another analogy, to give you an idea, a very metal specific analogy, is there’s gold in the Federal Reserve vault and there’s gold in the J.P. morgan vault and there’s a tunnel connecting them.

Where’s the gold? It’s wherever you look for it because picture a guy running back and forth in between the vaults with the gold. Oh, they’re auditing JP Morgan. Bring all the gold over there. Oh, they’re auditing the Fed. It’s daisy chaining. And we’re not quite at literal daisy chaining yet. That’s something that Kathleen Tyson had used in one of her stories. And it was a great use describing how finances can be hidden only for so long. But it’s happening in metals now. You can’t hide your shorts, you can’t park your shorts somewhere else. Everything is, you know, running in and those things are running in.

I mean, I’m getting into the whole and conversation. Those things are being run in because Trump says we’re protecting critical minerals and that means copper, also means silver. He just ain’t going to say it right. Russia says we’re confiscating the gold from a certain mine. Molly says we’re throwing Barrick out and taking their gold. Every nation is ring fencing natural resources. Okay, all right, so let’s, I got ahead of myself. First story. Russia nationalizes its gold effectively. Russian prosecutors have moved to seize the assets of billionaire Konstantin Strukov, marking a stark turn in the Kremlin’s crackdown on oligarchs deemed insufficiently obedient.

Strukov, long considered loyal to President Vladimir Putin, now faces criminal charges, asset forfeiture and political exile. Strukov was once seen as a model Kremlin aligned tycoon. He’s being stripped of control over. I don’t know how to say it. Russia’s third largest gold producer. Prosecutors are pressing corruption charges and have asked the judiciary to transfer all of Strukov’s assets domestic and offshore into state hands. He has reportedly. He has. He was reportedly detained on July 5 while attempting to fly to Turkey with his passport now invalid. Well, if you’re an authoritarian republic, you can’t just arrest people and steal their gold.

You have to have the law on your side. And why would Putin do that? Why would Putin turn on a loyal person? Well, he’s an international financier in gold. They don’t want the gold to leave. There’s other reasons. But he’s nationalizing the gold that needs to be nationalized. He’s protecting the natural resource. Next story. Mali seizes $117 million in gold from barrack mine amid dispute Malian military helicopters landed unannounced at Barrick Gold’s Luolo Junkoto complex Thursday, seizing over one metric ton of bullion worth more than $117 million. Helicopters. Right. The move escalates a months long standoff between the Canadian miner and and Mali’s military government.

Barrick Gold confirmed that helicopters from the Mali government did arrive without warning and departed with approximately 2204 pounds of refined gold valued at 117.2 million based on Thursday’s price of 3324 an ounce. And it’s now worth more. The metal is reportedly in the hands of the provisional administration appointed by Bamako, although its final destination remains unclear. Well, I mean, this is, this is a coup, right? I don’t even know if it’s a nation yet anymore. The national government is a provisional government. So it’s a military dictatorship. That’s what they’re headed towards. And if you’re a foreign minor operating in there, what are these nations going to do? They’re going to extract more money for the value they’re giving away.

Evil western colonialists. Mali’s just going to pull a gun on you and say, give me the gold. Right, Latin America, what are they going to do? This is mercantilism, right? This is the, the wheel of mercantilism. Wait, let me put that up for this. I have that in here somewhere. There we go. All right. I tried to get away from it, but it just wouldn’t let me. Okay, let’s look at the world. In discussing this gold, copper, rare earth stuff, in Russia, you run a. Everyone wants to protect their natural resources and they must do so in a public way that’s palatable to their population, to their voters, to their subjects, to their military pals.

All right, so we start with Russia. Russia wants to protect its gold. Well, find someone who’s corrupt. They’re all corrupt. Find someone who’s corrupt that you have no use for. Arrest him, take his mind. And now you’ve protected a large chunk of gold. Not to mention the other miners are going to be a little bit more careful and probably offer to sell you more, give you more to keep their jobs. Let’s move to other brics countries like, like Saudi Arabia or Indonesia. You have natural resources and you’re constantly, let’s say it’s lithium. It actually happens this way.

You’re constantly selling your lithium to America. You know, I’m not getting enough for it. This is all part of the rebellion of the BRICs, right? The strike. You say, you know what? I’ll give you my lithium, but I won’t let you take it out of the country in raw form. You must build a factory here. You must employ people here. You must share your technology with us. So you protect your resource. You do that with gold as well. Right, so now we move to the other current event, Mali. Well, that’s a, that’s a, that’s enough. That’s a coup, a military coup, provisional government, which is basically a military dictatorship.

So that’s a military dictatorship. What do you do? You pull a gun on them. You say you’re not operating here anymore, but if you do, you have to give us our piece off the top. It’s mafia. You move to a typical left leaning Latin American country that has copper or silver or Gold. How do they get more value from the miners, from the Western colonialists that are extracting? Well, you can’t just take them over. The days of Pinochet are gone. Right? What can you do? Well, you’re left leaning. You protect your workers, you go on strike, you tell your workers, you say to your workers, go on strike for more money.

And they do. Right. And that means money goes to the government, money goes to the workers. What’s the other left thing you could do that looks palatable to the US, to the north, but at the same time get you more money? Climate change. You can’t strip mine here anymore. You’re ruining the environment. If you pay us enough money, we’ll let you strip mine. And that’s how Latin America protects it. Or case of Argentina, you straight up cut a deal with the us Our natural gas and our lithium are yours. Support us. However, we’re supporting them. So now you move to North America, United States, we can’t prohibit export.

We’re free markets. We can’t talk, but we can’t talk about gold at all. That’s another conversation. What can we do? Well, we protect. This is all part of the MAGA concept. It ties in with maga. The big picture and the smaller picture are the same picture. Okay, when Trump says, I’m going to tax the import of copper, raw materials, raw copper at 50%, what’s he doing? Well, he’s making sure we don’t buy any copper and that the mines we have make more copper. We have plenty of raw copper. Okay, we’re primarily an exporter. But when you raise the tariff on an item that you don’t want to export or that you don’t want to import, you make the other guy suffer.

But domestically, domestically, what do you do? You encourage more mining, the price is up. More, more mining happens here. And you protect your refining business, which you want to get bigger, you want to make factories great again. Right. Any factor you can, it starts with, it starts with raw material refining. That’s your supply chain, raw material refining, finished goods. Right. So pull it out of the ground, refine it, and, and so you protect copper. So let’s talk about silver in this context. Are we self sufficient in copper? Yes, we have plenty of copper. We don’t have finished copper.

We need copper factories. Are we self sufficient in silver? No, we import all of our, almost all of our silver now. So how do we get raw silver? Well, you don’t tariff silver coming in, you prohibit silver going out. And we’re doing that. You’re just not seeing that. I talked to some industry people and it’s basically you’re not encouraged to sell silver overseas, which goes along with gold. So the countries that sell silver to us, let’s say Mexico, what are they going to do? They’re going to say to the U.S. we’re going to tax silver. Going to.

Unless you give us a deal on something. So what’s the US doing? Tax the things we have that other people want and don’t tax the things we want to buy. So every nation on earth is going to not tax things they want to buy. And what’s the one thing that every nation on earth wants to buy right now? Gold. Silver. Mercantilism. So what you’re looking at is the whole world is doing the same thing with a local flavor. So no export here. Let’s use the. We’ll use the graphic again. The whole world is prohibiting, dissuading or punishing the export of precious metals from its border.

Outside of its border. The whole world is protecting. I’m sorry, wrong one. The whole world is protecting any raw materials that get sold. High taxes, prohibition. But they’re not taxing things they want. Look, we want silver. We’re not going to tax that shit. We have copper. We’re not going to. We’re going to. We’re going to make sure it doesn’t get out. We’re going to make the factories do it. It’s amazing how it’s playing out. And it’s all playing out because the world is no longer global. You better fix your own supply chains. And the beginning of every supply chain is the raw material.

All right, so those are the stories I went off there a little bit. All right, next related post. I’m going to give you the post we put up recently, very recently, yesterday, and give you one line of what they’re about. Why gold is a long, long way from the top. Debt and denial are the reasons we’re going to be spending more, not less. That’s why gold’s not at top. It’s just something I had to do to make sure I wasn’t crazy. Many podcasts to founders White gold is where to invest next. The next theme tied to rebuilding American manufacturing has arrived and the Pentagon has said so.

By investing, we’re taking control of 50% of a company that specializes in lithium and rare earths. What’s the real reason Powell isn’t cutting? Well, that’s because of fiscal slop jeopardizing bonds. That’s also why gold is long, long Way from its up. And then there’s the news that we just discussed. Mali seizes Russian national meltdown and we left up this gold stable coins and next model because we believe the way to rescue the US dollar and a mercantileist protectionist world is going to be create a dollar that can cross borders for replace the euro dollar market with something better.

That’s what that is. All right, so coming soon, that’s what we did. Coming soon is the white gold. That’ll be the follow up on that onshore and critical metals. Starts with copper and it ends with lithium. I think we’re talking about that now. And when to sell your gold. We are going to do that piece. What to sell your gold. And the answer is not for a long time. Okay, data on deck. Friday U.S. federal budget deficit and let’s see the charts and final market check. What are my notes here? It doesn’t matter. All leverage will die in metals.

Things are happening faster now with less space in between problems and metals. Okay, I think I said that at the beginning. So let’s go metal by metal. All right. Start with gold. So there’s gold Staley. So you shouldn’t be too excited about gold. It’s still in the middle of that range. And that random line I drew bifurcating the actual range, that’s all it is. Gold will be the last thing to rally if I’m right about this. And then it’ll just drag everything higher. Silver. Silver is far more interesting. Silver has a. We have a mid year high all time mid year high which attracts macro discretionary.

And I’ll admit I was a little bit nervous. They weren’t coming in as quickly as I thought they would. But now they’re in and they’ve been battling each other. Some are buying gold, some are buying copper and that whole thing is going on. But and this is key, just I’m telling you, long term it’s going up. It’s just going up short term. For those of you looking for an indication. I get these signals and the last time I got one was here and that proved to be a bullish signal. That paid off. And yesterday’s close. I alerted subscribers that I got another one and I actually added to my position.

So I’m not irresponsibly long yet, but I added to it. And I don’t think, I just don’t think we’re. Let me just forget my opinion. As long as we stay above 3,694 on a closing basis, this market’s probably going to go to 3850 in a day or two. And then $40 will be a heartbeat away. So silver short term is validating the long term metam you get from people like Michael Oliver. So this is kind of like a confirmation, right? This is like if you get a long term momentum signal and then you get a short term momentum signal, well, the short term one’s going to be that much better.

Palladium and platinum. I don’t really have a feel for palladium, but I will say that the world had been long palladium and short platinum forever. That trade got blown out of the water starting in June and now people are getting long platinum and short palladium. And so you’re going to have these volatile. What do I do now? What every. People that are not long term oriented are getting whipped. Right? It’s like emotional volatility from these markets. Now, if you’re looking purely at palladium, obviously you have another structure that’s building up here, but it’s lagging. So maybe palladium is the last one to benefit.

However, a Russian announcement would make palladium go up right away. Let’s look at platinum. Let me get rid of the Bollinger bands. Platinum, right? Same idea. Same. I mean, everything is doing the same thing now. And gold for change is not like here’s gold structure. Everything ran up and now has these little structures up top. Here’s gold structure. It’s almost like gold has stopped and said, everybody catch up. Right? So platinum planning model have a good feel for. I guess what I’m saying with regards to the metals is you’re running out of places to hide if you’re short any of the metals.

The EFP in silver is indicating more fears of tariffs and they’re probably not going to come. He’s not going to. I mean, I would be surprised if Trump announced the tariff on the imports of a raw material we need right now. Banks that want silver are going around trying to buy concentrate that’s already been locked down by China. See, we’re late to the party, but we’ll figure it out eventually. Platinum, palladium, I don’t know. I want to talk about bitcoin for one second, though. What I’ve noticed, and it’s an observation, right? It could be wrong. Bitcoin has been.

I should have the stock market up there. So I don’t. Bitcoin has been rallying along with metals now. It’s kind of like it was a tech stock, right? Behaving like a tech stock. And now it’s behaving more like a commodity. So whether you like it or not, Bitcoin is becoming a darling of the dollar hedging scenario. And it is. A lid is kept on it as Blackstone accumulates. And all these treasury firms that are being created, they’re a disaster waiting to happen. But that disaster probably won’t happen for years because the government is endorsing it. Okay.

I guess when it comes down to it, all the things that we have been talking about, you know, mercantilism and what have you, protectionism, bullionism, it’s really about natural resources. That’s protectionism. But when you start protecting your gold supply, that’s unabashed mercantilism. And all the things that were happening before that were happening at a slower pace are starting to accelerate. I mean, Trump is coming right out and protecting aluminum, steel and copper. Right. And we’re working on rare earths right now. What are we doing? We’re saying to China, we want nothing to do with you. Little by little, that’s what we’re saying.

And China is doing the same thing. They’re just not announcing it the way we are. All right, I’m Vince. Have a great day. Have a great weekend. Well, thank you, Vince, as always, for keeping us posted on everything that is going on in the precious metals world. And thank you at home for watching. I sure hope you enjoyed that and appreciate you spending part of your, your day here. And before we wrap up, I did want to thank Dolly Varden Silver, who kindly sponsored today’s show. And it’s nice. This week I am at the Rick Rule Symposium in Boca Raton where Dolly Varden and CEO Sean Konkin, as well as a couple of the other great members of their team are there, which is certainly good timing.

Obviously, in addition to the rising silver price, you also have the Dolly Varden has been increasing their land package, also out drilling and really has made a lot of progress in these past couple years since Sean took over. And for a quick word on how things are coming along, well, here’s Sean. What we did going back in April is we decided to list our shares on the NYC American. And we did that because there are only 10 companies on the New York Stock Exchange that are giving investors exposure to Silver. And now Dolly Varden is one of those companies.

So we’re open to the biggest market in the world. We’ve got our shares there. And then after we, we had more eyeballs and more, more buyers and more investors come into the company. The share price lifted and we took our shares that had gone up and we use them to buy depressed assets, to buy assets for pennies on the dollar. And we went. And these junior companies that are out world there, it’s very tough times, Very, very, very tough times for the juniors. And we’ve been very fortunate that we’ve had some very supportive, large institutional shareholders, people like Eric Sprott that have come and supported our business.

Hecla Mining has been a big supporter of our business. And so through that shareholder support, you know, we have gone out and we’ve done exploration, we’ve made discoveries, we’ve gotten very, very active acquiring these incredible past treasures and, you know, some of the richest silver mines in Canada. Well, thank you, Sean. Really nice to see what you guys have been moving forward. And hear a little bit more from Sean from our last call where he gave a really good overview of what they’re doing at Dali, how things are going. Well, Just click on the video that’s coming your way now, Sam.
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