Gold Made a New Highest Daily Close in History at $2,788 Followed by Monthly ATH at $2,742 Built on top of Quarterly ATH at $2,635 and Yearly ATH at $2,063. Next is a Climb to $5,000 & Over $10,000

Gold continues to shine incredibly brightly during this magnificent historical rally, and we continue our Chronicles of the Gold Bull Market and TNR Gold's Shotgun Gold Project. On October 30, Gold made a new highest daily close in history at $2,788  and finished this month on a very strong note making a new monthly ATH at $2,742 on October 31, 2024. 

Gold made previous ATHs at $2,775 on October 29 and at $2,748 on October 25, 2024. Gold has been celebrating breaking out above $2,700 for just a few days and decisively made a previous ATH at $2,746 on October 22, 2024. Healthy consolidation will be welcomed at this stage so that this magnificent Gold Bull Market can digest the gains after the amazing parabolic breakout move this year. Still, we are not in Gold Bubble territory yet. 

There is no Gold Bubble yet. Most investment crowds are still blissfully unaware of the tectonic shifts in our societies driving this renaissance of true solid values and Gold representing Real Money.  Gold ETF share of Equity ETFs is still below post-2013 average and below 3%. This share hit a high of above 17% in 2011 signifying the top of Gold parabolic move at that time.

Gold hits a record high above $2,700! Gold made a new highest daily closing in history at $2,721 on October 18, 2024. The previous ATH at $2,694 was hit just a day before on October 17, 2024.

After a brief consolidation, Gold surged to another highest daily closing in history at $2,674 on October 16, 2024. This time it took Gold just a few weeks to digest its explosive parabolic move to strike a new ATH, the previous all-time high was made at $2,673 on September 26, 2024.

Gold finished the third quarter of 2024 in style showing its might and striking the new highest monthly and quarterly closings in history at $2,635 on September 30. Nothing grows straight into the sky and this very powerful Gold Bull Market will continue its assent to $5,000 and over $10,000 following the healthy consolidation stage. 

This very strong Gold Bull Market enters the much-needed consolidation stage which will be built on the solid base of the monthly all-time high closings confirming the solid uptrend established after the magnificent breakout this year. Gold finished trading in September with a decisive monthly candle and the highest monthly closing in history at $2,635.

Gold finished the third quarter on a remarkably strong note and made a new quarterly highest closing in history at $2,635 on September 30, 2024. The previous all-time high quarterly closing was made by Gold in the second quarter this year at $2,327 on June 28, 2024.

FT brings us more information about the forces driving this marvellous Gold Bull Market. "Chinese Gold trading activity explodes". 

As we have discussed, The whole world will probably be shocked if China ever reveals the amount of its true Gold reserves which are held by numerous entities under China's control including the citizens of China and the vast Chinese diaspora.

Bloomberg brings us the confirmation that Hedge Funds are boosting bets on Gold. As we discussed last week, Greed and FOMO will be driving hedge fund managers to gain exposure to the Gold and Mining Sectors risking to underperform the more wise forward-looking peers building their positions in the Real Hard Assets and Commodities.

Gold continued its parabolic move last week, making the new highest daily close in history at $2,673 on September 26, 2024. In its relentless assent to the new highs, Gold was striking one all-time high daily closing after another again: $2,629 on September 23, 2024; $2,658 on September 24, 2024; and $2,659 on September 25, 2024. The much-needed consolidation phase will be welcomed now for the health of this powerful Gold Bull Market after the amazing break-out phase.

It is time for Gold Miners to start to move decisively up breaking out and outperforming Gold advance during this healthy consolidation phase for the powerful Gold Bull Market. Financial reports about the increased operation margins and profits for the major Gold Miners should bring the headlines and new investors into the sector.

Gold Miners have a lot of work to do just to catch up the the magnificent performance of Gold this year. Investors will rediscover Gold Exploration Companies and excitement will be building up during the coming M&A wave we have been discussing last week. 

Greed and FOMO will be driving hedge fund managers to gain exposure to the Gold and Mining Sectors risking to underperform the more wise forward-looking peers building their positions in the Real Hard Assets and Commodities.

Gold was going parabolic overtaking $2,600 in one breath and striking the new highest daily and weekly closings in history at $2,622 on September 20, 2024. That new breakout phase was coming after striking a whole series of new ATHs: $2,558 on September 12; $2,580 on September 13; $2,584 on September 16; and $2,587 on September 19, 2024. Gold continues to shine very bright during this historical rally and we continue our Chronicles of the Gold Bull Market and TNR Gold's Shotgun Gold Project. Nothing grows straight into the sky and consolidation will be welcomed for the Gold Bull market at this stage. 

This very interesting chart from Formula Stocks shows "Gold Miners Will Move More Than 40X from 2024". Now it is time for Gold Miners to start making headlines while Gold will be consolidating before its next big move up. 

Gold miners are literally printing money now with their expanding margins, this news is slowly making its way among investors still chasing AI and Crypto Dragons. M&A is the only way for majors to rebuild the falling Gold Reserves and keep the Gold production from falling over the cliff. 

The smart money is taking profits in Gold and looking upstream for the new M&A targets. These investments are lifting Gold Producers first and even a minimal spillover in the Gold Exploration Companies will create fireworks there. This coming wave of M&A among Gold Producers and investments made by Rob McEwen, Erik Sprott and other Gold Gurus in the new promising projects will drive the next stage of remarkable gains for wise investors. 

Now you should really pay some serious attention, to our main Story here, why NOVAGOLD is holding its stake in TNR Gold and why I believe that the time for the Shotgun Gold Project in Alaska is coming very close for its launch on the new orbit of valuation and development. 

"My belief is TNR's Shotgun Gold Project can potentially grow and become a foremost, immediate satellite site Gold deposit to Donlin Gold's Mining Camp infrastructure. This vision is based on our exploration work and academic studies like the ones from Dr Tim Baker in which Shotgun Gold Project is not only listed alongside Donlin Creek as one of the "Major Porphyry Gold Deposits" but is also projected to contain the similar porphyry intrusion-related type system as Donlin." 

Kirill Klip, Executive Chairman

TNR Gold Corp.

Before the start of September, Gold made a new highest daily close in history at $2,526 on August 27, 2024. That previous magnificent ATH daily closing was followed by the highest monthly close in history at $2,503 on August 30, 2024. 

Gold reached our first milestone of $2,500 in this magnificent Bull Market in a spectacular fashion and made a new highest daily close in history at $2,508 on August 16, 2024. We had our headlines. Previously Gold surged to the new ATH at $2,472 on August 12, 2024, smashing the prior highest daily closing in history at $2,469 made on July 31, 2024. 

Gold made a prior monthly all-time high close in history at $2,447 on July 31, 2024. We have a stable foundation for this magical Gold Bull Market based on rising quarterly and monthly ATHs. Gold surged to the new highest daily closing in history at $2,469 on July 16, 2024, smashing the previous ATH at $2,426 on May 20, 2024.

Graddhy has published "The Wild Gold Chart" with a potential technical target price of $48,000. Now my target of $10,000 for Gold seems to be not so outrageous and can be considered a perfectly reasonable milestone in this perspective.

This new record comes after Gold established a new weekly ATH at $2,411 on July 12, 2024. Gold finished the second quarter on a remarkably strong note and made a new quarterly highest closing in history at $2,327 on June 28, 2024. 

This June monthly closing for Gold at $2,327 has repeated the previous monthly highest close in history at $2,327 made on May 31, 2024. We have an exceptionally strong foundation of rising monthly and quarterly ATHs during this consolidation phase of the Gold Bull Market.

Fundamental Research Corp. issued an updated report on TNR Gold: "Since our initiating report in September 2023, TNR’s royalty projects have made significant progress. TNR is up 40% since September 2023." You have a lot of updated information to do your own research on our Company following all-important disclaimers.

Graddhy shows on the 53-year chart the history of 3 Gold Bull moves. He is painting the beautiful road map for Gold to surge in the third wave of this Bull Market towards his targets in the $10,000 - $15,000 range per ounce.

 

Gold surged to $2,450 and made the previous highest daily close in history at $2,426 on May 20, 2024. Before it, Gold hit ATH at $2,414 on May 17, 2024. That jump followed a brief consolidation following the previous verticle climb of back-to-back all-time highs. 

The history of Gold Cycles provided by Tavi Costa illustrates very well the main drivers of this new mighty Gold Bull Market. This is only the beginning of the new leg up after the breakout from the giant Cup and Handle technical formation.

Every consolidation phase will provide new opportunities and allow new investors to shift towards true solid values. New fortunes will be created by this powerful dramatic rebalancing of the geopolitical and financial systems based on debt and its common denominator, the US Dollar.

Bloomberg reports, that Gold's return in 50 years exceeds bonds. Can Gentlemen prefer Gold from now on as well? Gold becomes a major diversifier and the ultimate hedge on the institutional level for portfolios constructed with stocks, bonds and crypto assets. 

Gold surged to the previous ATH  at $2,391 on April 19, 2024. During that week Gold again rushed from one ATH to another at $2,382 on April 15, 2024, and $2,383 on April 16.

Gold smashed a new intraday all-time high at $2,430 on April 12, 2024, after it made a previous ATH at $2,377 on April 11, 2024. During that week Gold surged from one ATH to another at $2,339 on April 8, 2024, and $2,355 on April 9, 2024.

The week before Gold surged to a new all-time high daily close at $2,330 on April 5, 2024. That new all-time high followed an awe-inspiring week when Gold smashed one ATH after another: $2,249 on April 1, 2024, $2,280 on April 2, 2024, and $2,300 on April 3, 2024. 

We had another set of the magnificent "Super White Soldiers". This incredible Gold price advance was based on the solid foundation of the new monthly and quarterly all-time highs at $2,234 established on March 28, 2024. 

This powerful move arrived after Gold smashed previous all-time highs at $2,204 on March 20, 2024, and $2,184 on March 11, 2024. Before it, Gold price hit $2,179 on March 8, 2024. As we have discussed, it was crucial that Gold exploded breaking out from this giant "Cup and Handle" formation to new highs rising all first week of March. 

Today's important observation is that Gold is hitting new ATHs while Gold ETF holdings are only just turning up. This Gold breakout was driven by the Central Banks and countries like China accumulating Gold. 

Only nowadays do we see inflows coming into Gold ETF. Investors chasing FOMO the rising Gold price will be the next driving force for this magnificent Gold Bull Market. 

Gold ETF rebound in July. ETFs saw record outflow in the first half of 2024.

We had a confirmed breakout for Gold on the monthly chart with a mighty candle for March. It followed the previous breakout confirmation with magnificent "Super White Soldiers" - back-to-back all-time highs: $2,160 on March 7, $2,148 on March 6, $2,128 on March 5, $2,115 on March 4 and $2,083 on March 1, 2024. 

These previous ATHs followed the highest monthly, quarterly and yearly close in history at $2,063 smashed by the end of 2023. The previous all-time high at $2,080 was made by Gold on December 27, 2023. 

Gold is sending a very loud and clear signal, that something is breaking up in the financial system. "Smart Money", China and Central Banks are buying Gold as real insurance from the coming crisis. 

Every insurance is only as good as the counterparty providing it. Who will be able to meet all claims in the end? Gold is nobody's obligation and has become "The Ultimate Hedge" for all portfolios constructed with bonds, equities and crypto.

Central Banks Buying Gold, Gamblers Buying Crypto.

Barron's provides another indication that the "Irrational Exuberance" party of the general stock market can be over. 

"Smart Money" is rotating already into Gold, Real Hard Assets and Commodities. 

Gold miners are minting money with expanded margins and are still recovering and catching up with the rising Gold price. 

We have a perfect set-up for the new Gold Bull Market and Gold Miners and Gold Exploration Companies will be a major part of it for the rest of this decade.

Tavi Costa illustrates for us the misallocation of investment capital during this "All Bubbles" stage of the market. Gold and Gold miners represent just 1% of total global assets, almost a rounding error. The Great Rebalancing can bring real fireworks to the Gold market, Gold miners and explorers. 

Gold miners are only now waking up relative to the incredible performance of Gold in recent months. Higher Gold prices still have to make their way and expand margins, creating profit and slipping into the financial statements to be noticed by the investment crowds.

This chart from Tavi Costa illustrates very well the recent advance of junior miners relative to the senior miners and Gold prices. Profits made in Gold and Silver markets are making their way into the senior miners first. 

Chart by Nicholas Winton

And only later new money is being allocated to the junior mining sector by investors seeking higher leverage to the rising Gold price. You can also put TNR Gold's performance this year into this perspective.

We have been waiting for the breakout from this giant Cup-and-Handle formation after the "pandemic" all-time high at $2,070 made by Gold in August 2020.

Video interview with Asharq Business with Bloomberg.

Now we have the generational breakout confirmed for this Gold Bull Market. Gold finished 2023 with the highest monthly, quarterly and yearly close in history at $2,063. Next is a climb to $2,500, $5,000 and over $10,000. 

Graddhy is painting the beautiful road map for Gold to surge in the third wave of this Bull Market towards his targets in the $10,000 - $15,000 range per ounce. In the coming months, we can expect new all-time highs for Gold following this breakout, which opens the road to climb to new record prices of $2,500, $5,000 and over $10,000 per ounce of Gold.

Gold is not celebrating wars and the annihilation of human life. The price of Gold is pointing to the obvious imbalances in the world governance and global financial system. We have another wake-up call, I do hope the inevitable rise of Gold price to $2,500, $5,000 and over $10,000 will be orderly.

The US National Debt is over $35 Trillion and is unsustainable. The ability to continue paying interest and increase this debt depends on the faith in the value of the US Dollar and appetite for US Treasuries.

After a very brief "deleveraging", the global financial system is back to increasing debt-to-GDP ratio. Total Global Debt stock is at a record $315 Trillion.

You can play the Deep Fake Video Games with Crypto only for so many years, the Deep Fake "Efficient Markets" like the Gold Market can be manipulated for decades, the illusion of your own choice to fight your own brothers to the last drop of your own blood for the elites has been cultivated for millennia.

It will not be so surprising for me that we have already reached the maximum stupidity point of no return and Wall Street will make the same one-trick pony with Bitcoin and all "FED Freedom Fighters": build the House positions in the Crypto Casino, make it easy to buy for retail "investors" by establishing ETFs, pump it UP and sell it into the salivating FOMO-chasing crowd as the new investment dream.  

The level of stupidity in modern society can easily exceed my bravest gestimations, it can be even adopted by some governments as an acceptable level of operations for any advanced version of "Idiocracy". I fulfilled my charity obligations by studying this subject in detail and moved on. 

The last important thing here will be to notice that smart money has moved on as well and has been pumping the AI Bubble like there is no tomorrow for quite a bit of time already.  Society made a very big journey very fast from "FED Freedom Fighters" to Tether - "the Central Bank of Crypto" - and to BlackRock pumping Bitcoin with all deadly force of the Wall Street Machine and selling it to the amused Lambs dreaming about their LAMBOs.

"The simple question to answer is: "Can theoretically some super-smart specially gifted people digitise ENRON's brave advanced accounting, Bernie Madoff's and Lehman Brothers' "Best Investment Practices"; encrypt it all for safely with a lot of BS, put it on a blockchain and give it as a finished product to ReTail to enjoy? In the end, it seems, that this is exactly what they really want to keep them happy while they are FOMO chasing their Day Dreams with LAMBos". A lot of Circus entertainment and some Bread for some, sometimes. All the same, just encrypted with a lot of hard to understand Crypto Tech jargon and other BS spices, so it tastes so good."

 

"I would say, why not? After all, other "One Thousand and One" known to humans scams are already being tortured by elliptic-curve cryptography in the Dark Crypto Web and put on different blockchains. Needless to say, that Circus has left already, probably, with all treasure troves, only clowns are still here."

False prophets did their dirty deeds and deceived millions by misguiding them and turning away from the productive investments and the real store of value represented by Gold. These cults can be run for a very long time, but make no mistake, the divine laws of time and gravity will bring down all sandcastles.

Events of "Black Monday" on August 5, 2024, confirmed the unique status of Gold as "The Ultimate Hedge".  Gold is nobody's obligation and has become "The Ultimate Hedge" for all portfolios constructed with bonds, equities and crypto.

"Gold is coiling into the very powerful spring and knocking on the new all-time high "Heaven's Door". As with all generational Bull Markets, any price suppression and market manipulation can lead only to one thing: another opportunity to accumulate the best stories in the Gold mining junior space where new fortunes will be created in the next few years to come. 

Nobody knows the future, but history can teach us about manias and "irrational exuberance" spilling over from chasing Crypto Dragons into real assets and solid values that some junior miners can represent in the marketplace." 

 

Gold price action points to the obvious, any manipulation provides another unique opportunity to accumulate it. Ruthless Mr Market is separating YouTube traders and their money. The wise ones are given another chance and more time to learn and find The Best Stories among junior miners, which will build new fortunes.

"Only the patient investors who still can read, analyse and use the powerful organic intelligence tool - calculator, will be rewarded by the ruthless Mr Market. Only you can decide what to do after your own research and due diligence."

 

"We are getting closer to The Next Catalyst for Gold. The whole new generation of investors has to learn the hard way history lessons. They must find real, solid values after being used, disillusioned and thrown away by "The Ponzi on Steroids". "The Thousand and One" digitized scams known to humans remain scams even on the blockchains."

Central banks continue to accumulate Gold while retail investors are chasing Crypto Dragons.

"High gold price reflects strong demand

Another year of blistering central bank buying, together with resilient jewellery consumption, offset sizable ETF outflows. 

Annual gold demand (excluding OTC) of 4,448t was 5% below a very strong 2022. Inclusive of significant OTC and stock flows (398t), total gold demand in 2023 was the highest on record at 4,899t.

 

Central bank buying maintained a breakneck pace. Annual net purchases of 1,037t almost matched the 2022 record, falling just 45t short." (World Gold Council, 31 January 2024)

China continued to accumulate Gold and reported a jump in reserves.

The whole world will probably be shocked if China ever reveals the amount of its true Gold reserves which are held by numerous entities under China's control including the citizens of China and the vast Chinese diaspora. 

Yields are rising again and the prices of Treasuries are going down while Gold price is going up. We have a great rotation out of the US Treasuries into Gold. 

"There is no Gold 2.0, there are over 5,000 years of humankind's history with Gold. Investors are tired of losing money by chasing Crypto Dragons and Bitcoin Dreams in the Tether Metaverse."

We have The Peak Gold Supply in place, which will drive the new M&A cycle for the Gold industry. Gold miners are printing money again with expanding margins and they will have to start looking more aggressively for new major Gold projects.

"My belief is TNR's Shotgun Gold Project can potentially grow and become a foremost, immediate satellite site Gold deposit to Donlin Gold's Mining Camp infrastructure. This vision is based on our exploration work and academic studies like the ones from Dr Tim Baker in which Shotgun Gold Project is not only listed alongside Donlin Creek as one of the "Major Porphyry Gold Deposits" but is also projected to contain the similar porphyry intrusion-related type system as Donlin." 

Kirill Klip, Executive Chairman

TNR Gold Corp.

 

 

"A recently published research report on TNR, written by Fundamental Research Corp, reckons fair value for the company at C$0.22 per share. The current price is significantly lower than half of that." (Alastair Ford)

“Since our initiating report in September 2023, TNR’s royalty projects have made significant progress,” the analysts wrote in a report. “TNR is up 40% since September 2023.” (Emily Jarvie)

"The report from Fundamental Research underscores the company's near-term royalty potential, particularly from Ganfeng Lithium's Mariana project, and reaffirms a Buy rating with an adjusted fair value estimate of C$0.24 per share." (Angela Harmantas)

 

 

Disclaimer: Please be aware that any opinions, estimates or forecasts regarding the performance of TNR Gold Corp. in any research reports do not represent the opinions, estimates or forecasts of TNR Gold Corp. or of its management.

Alastair Ford: TNR Gold’s Recent Rejection of a Takeover Bid From Lithium Royalty Has Shone a Spotlight on the Value of Its Royalty and Exploration Portfolio

 

TNR Gold Shotgun Gold Project Presentation from Kirill Klip

Please visit the TNR Gold website for all updated presentations.

Please read my legal disclaimer. There is NO investment advice on any Kirill Klip feeds and blogs. Always consult a qualified financial adviser before any investment decisions. 

Do Your Own Research.

TNR Gold in the Alaskan Elephant Country: "I Believe the Shotgun Gold Project Could Become One of the Main Satellite Gold Projects of the Donlin Gold Mining Camp"

My Vision for TNR Gold and Strategy: Share Buyback, Potential Valuations, and Shotgun Gold Project Spinout

“We are building The Green Energy Metals Royalty and Gold Company. Our business model provides the unique entry point into the creation of supply chains for critical materials like energy metals which are powering Tesla Energy rEVolution and Gold industry which is providing the ultimate hedge during this part of the economic cycle. Our shareholders are participating in the building of The Green Energy Metals Royalty and Gold Company. In our portfolio, we have a unique combination of assets providing exposure to different parts of mining cycle: starting with the power of blue sky discovery and including partnerships with industry leaders like McEwen Mining, Ganfeng Lithium and Lundin Mining as operators on the projects that will potentially generate royalty cashflows to contribute significant value for our shareholders.”

Kirill Klip, Executive Chairman TNR Gold Corp.

Today I would like to present our strategy for the Shotgun Gold Project in more detail for all our shareholders.

TNR Gold – AmeriGold – Shotgun Gold

The Company’s strategy with the Shotgun Gold Project is to attract a partnership with one of the major gold mining companies. TNR is actively introducing the project to interested parties. We may be at the beginning of a great discovery. There is a clear path on how to move this project forward using the geological and geophysical research currently available to target drilling to expand the resource and form the basis of a preliminary economic analysis. The next step is to acquire a partner who shares our vision and recognizes the growth potential and value to be added to the Shotgun project over time. 

I believe that in order to maximise shareholder value and reach the potential valuations presented above we must preserve capital, reduce the amount of outstanding shares and not invest in Alaska our own capital.

Our strategy presented to potential strategic partners involves the creation of a JV with one of the major gold mining companies when our partner will be investing very substantial capital in the development of the Shotgun Gold Project while earning a stake in the project.

TNR Gold shareholders will benefit from the strategic partner’s capital being invested “in the ground” and industry expertise, including operations in Alaska.

The Management is investigating the best value creation strategies for the Shotgun Gold Project and has put in place the corporate structure of AmeriGold – the stand-alone company that could potentially inherit the Shotgun Gold Project JV operations after the contemplated potential spinout from TNR Gold.

This article is for information only and provides publicly available information and my personal Vision and valuation matrix of TNR Gold. I am the largest individual shareholder of our Company. Nothing in this blog post constitutes investment advice, offer or solicitation of the sale of any securities. Please carefully read all our Legal Disclaimers and conduct your own due diligence as always.

Thank you for your support of TNR Gold!

Tesla Nicola rEVolution and Gold. 

Gold in the USA, the Alaskan Elephant Country: TNR Gold Shotgun Gold Project Presentation