Shad Marquitz
Co-Host & Commodity Analyst | The Korelin Economics Report | Resource Market Commentator
"Technical analysis of mining stocks and metals markets on The Korelin Economics Report"
Biography
Shad Marquitz is the co-host and commodity analyst for The Korelin Economics Report (KER), a long-running resource investment platform that covers mining stocks, metals markets, and macroeconomic trends. Alongside host Cory Fleck, Marquitz produces KER Market QuickTakes — regular breakdowns of price action across gold, silver, copper, oil, and the junior mining stocks that track them. For commodity investors, his value lies in translating dense market data into clear, actionable context.
Marquitz focuses on the technical side of resource markets. In KER QuickTakes, he routinely walks through chart patterns, key support and resistance levels, and momentum indicators for major metals and mining ETFs like GDX (the VanEck Gold Miners ETF). He pairs this technical work with fundamental observations about sector sentiment — noting, for instance, muted investor mood at the Metals Investor Forum in Vancouver and tracking how that contrasts with underlying commodity strength. This combination of chart-driven analysis and on-the-ground sentiment reading gives investors a practical framework for timing entries and exits in a notoriously volatile sector.
His commodity coverage spans precious metals (gold, silver), energy metals (copper, lithium, uranium), critical minerals (rare earths, antimony, tungsten), and oil. Marquitz has highlighted copper as a structural standout, pointing to physical market strength even as mining equities remain suppressed by macro headwinds like Federal Reserve policy uncertainty. He also tracks M&A activity in the sector — including deals like Equinox Gold's bid for Orla Mining and Elemental Royalty's acquisition of Vizsla Royalty — as signals of where smart money is moving.
What makes Marquitz worth following is his discipline about staying honest with market conditions. Rather than pushing a perpetual bull case, he identifies when technical damage is real, when corrections are healthy, and when macro forces are genuinely overriding commodity fundamentals. Investors looking for clear-eyed, jargon-free commentary on mining stocks and metals will find his KER segments a practical resource for navigating the resource sector's swings.
Videos (5)
Weekend Show- Precious Metals & Market Trends: Gold Bottom? Copper Strength? Oil & Market Volatility
Elevated interest rates and a strengthening US dollar continue to pressure precious metals and mining equities through the traditional summer slowdown. Copper mining stocks are diverging from the underlying copper price, creating a potential disconnect that resource investors should monitor closely. Rick Bensignor identifies specific technical support and resistance levels for gold, copper, and oil to help investors navigate current market volatility.
Joel Elconin - The Importance Of Diversification: Forced Selling in Tech, Portfolio Risk Strategies
Joel Elconin argues the Federal Reserve will hold interest rates higher for longer than markets currently expect, keeping pressure on equity valuations and risk assets. Forced liquidations from over-leveraged hedge funds created cascading sell-offs, highlighting the importance of avoiding margin and maintaining portfolio liquidity during volatility. Massive AI infrastructure spending by large tech firms creates a "picks and shovels" opportunity, though Elconin cautions the technology still cannot replace core human talent.
TG Watkins - Tech vs. Value: Navigating Sector Rotations and Key Technical Signals
Watkins identifies a growing divergence where equal-weight indices outperform top-heavy tech, signaling a potential rotation toward value sectors. A double-top pattern in the US Dollar (USD) suggests potential weakness, which Watkins argues could give gold and silver prices room to rally. Copper spot prices are diverging from copper mining equities, creating a disconnect that Watkins monitors for a long-term sector setup.
KER QuickTake - Gold, Silver, Copper, Oil Market Outlook Amid Fed Policy & Geopolitical Uncertainty
Low summer trading volume and a rising ten-year yield are keeping precious metals and broader commodities stuck in corrective territory. Physical copper prices remain resilient while copper equities continue to lag, creating a notable divergence that investors should monitor closely. Cory Fleck and Shad Marquitz caution that junior miners face significant headwinds from tight financing conditions and persistent cash burn.
KER Market QuickTake - Post-Conference Chaos: Analyzing the Massive Gold & Silver Reversal
- Top takeaway Shad calls the Jan 30 reversal a historic dollar-terms drawdown — silver down ~31% on the close (over 34% intraday) and gold down ~9% close (11% intraday) — with platinum, copper, and palladium all selling off together and leaving the sector with a "bad hangover after the party."
- He says the bull-case momentum is broken for now: generalists (Chandler, Lyons, Watkins) have largely stepped aside, silver acted like a meme stock on the way up, and overbought indicators were reset in a day and a half, turning the tape neutral rather than outright bearish.
- Shad argues a rotation out of precious metals and into copper, lithium, uranium, rare earths, and oil/gas is the dominant theme heard at VRIC and the Metals Investor Forum, and confirms he has personally rotated some precious-metals winnings into uranium and energy stocks.
- He distinguishes trader mode from investor mode: investors can sit tight because the fiat, debt, and store-of-value thesis is unchanged, while traders should expect whipsaw and focus on names with near-term catalysts rather than passive junior runs.
- Shad admits he trimmed about a half dozen silver stocks before VRIC as silver ran to ~$117, citing concern that the conference euphoria and vertical price action looked like a blow-off top — a stance vindicated by the Friday crash.
Silver's 30%+ single-day drop on Jan 30, 2026 reset momentum after the metal briefly traded above $100 and gold approached $5,000. The hosts argue the rally showed blow-off-top traits — standing-room-only Vancouver conferences, returning family offices, and chat-group FOMO. Investors are rotating precious-metals profits into copper, lithium, uranium, and oil-and-gas; copper developers and energy equities held up best. The hosts cite U.S. critical-minerals moves — Project Vault ($12B) and USA Rare Earth's $1.8B deal — as pulling generalist investors back into resource equities.
Key Quotes
"Physical copper continues to hold up near high levels, but stocks in the sector remain muted due to potential US trade policy changes."
— KER Market QuickTake, Summer 2025
"Copper remains a structural standout insulated from the broader market chop."
— KER QuickTake commentary on precious metals and copper outperformance
Key Works
Regular market commentary covering price action and trends across precious metals, copper, oil, and mining stocks.
Analysis breaking down technical damage across precious metals, Fed hawkishness, and copper's structural outperformance.
Multi-part series covering gold, silver, copper, lithium, rare earths, antimony, tungsten, and sector M&A activity.
Specializations
Disclaimer: Shad Marquitz has NOT endorsed this platform and is not affiliated with Pixys in any way.