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Peter Goodburn: Silver is Going to Drastically Outperform Gold

Tom welcomes a new guest to the show, Peter Goodburn. Peter is the founding partner of WaveTrack International and has trading experience going back to the 1970s. He breaks down the concepts behind Elliott Wave trading and why it’s very useful in predicting price action.

Peter discusses what the charts are indicating with regards to a diplomatic solution in Ukraine.

Sufficient volume must be available for good long-term timeframe results with Elliott Wave. Peter demonstrates how well Elliott Wave theory predicted the price action of the 2007-2008 Financial Crisis.

Future price development requires a very long-term approach with Elliott Wave. He demonstrates the use of Fibonacci sequences and wave patterns.

Peter gives us his thoughts on the coming commodity supercycle and why the dollar will be a significant factor. He takes a good look at the oil and copper charts.

Inflation will head higher after a lull and that will help propel commodities higher. Further weakness is coming for the dollar which will also drive inflation.

He shows an interesting chart for Newmont Goldcorp and where he expects the miners to move. Silver will likely make new record highs. He believes that silver will begin to outperform gold.

Time Stamp References:
0:00 – Introduction
0:49 – Elliott Wave & News
4:56 – Russia Thoughts
8:31 – Elliott Timeframes
10:37 – The Financial Crisis
19:58 – Commodity Supercycle
29:25 – Dollar & Commodities
33:52 – CPI Thoughts
41:12 – Gold & Miners
50:00 – Silver Miners
53:19 – Uranium
1:01:42 – Concluding Thoughts

Talking Points From This Episode

  • Elliott Wave theory principles and his thoughts on Russia based on their charts.
  • How Elliott Wave predicts price action and why it was very useful around the 2008 financial crisis.
  • The coming commodity supercycle, the dollar, and expectations for inflation.
  • The miners and where the metals may head in the coming years.

Guest Links:

Peter Goodburn is the founding partner of WaveTrack International. His trading experience spans back to the late 1970s working then in the commodities business for exchange members and their clients. In those earlier years of his career, he created the first OTC (over-the-counter) copper option product based upon the Comex (New York) contract around the mid-eighties, and in the same period, devised Opval, an option-evaluation software program that is currently used in many of the major market-making institutions of today.

His fascination with price activity and how that related to the news flow within the markets captured his imagination early on. Peter’s first annual diary of 1978 records his notes and remarks on how the interaction and relationship of fundamental news and price movement often contradicted themselves. Some years later, this was to ignite his interest in causal theory and naturally, the Elliott Wave Principle.

He was first introduced to the Elliott Wave Principle in the mid-eighties listening to daily updates of financial commentary by Bob Beckman on LBC radio (London Broadcasting Company). This led him to the work of Frost/Prechter and their first re-publication of R.N.Elliott’s (1871-1948) original treatise of 1938 (The Wave Principle) and 1946 (Nature’s Law – The Secret of the Universe), entitled “the Elliott Wave Principle” (1978). Peter’s a self-proclaimed purist of the Wave Principle but has developed a unique approach of geometric Ratio & Proportion that is instrumental in maintaining a dispassionate and objective view of the market. He has applied this analysis to every major asset class over the years, stocks, bonds, currencies & commodities, and promotes the importance of interdependency of the combined group.

Peter has been a member of the U.K.’s Society of Technical Analysts (STA) for over twenty-five years and is a Certified Financial Technician recognized by the International Federation of Technical Analysts (IFTA). He has taught the Elliott Wave Principle to students at the London School of Economics as part of the STA’s diploma program and is a member of the Foundation for the Study of Cycles and the Society for Chaos Theory in Psychology and Life Sciences.

He has published many of his forecasts in various journals over the last twenty years including Currency Confidential, Managed Derivatives, Investment Management, The Ringsider, Market Technician, and quoted by many others, including Metal Bulletin, The Speculator, Focus, Fund Investment, International Herald Tribune, and Reuters. It has brought him in contact with the many diverse fields of finance, delivering presentations for major industry governing bodies and as the principal speaker on behalf of many corporate clients throughout the world.

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