Gold and silver prices are down

Bull markets take time to mature. Just be patient. Don’t think for one moment the Fed will stop printing dollars. I have some down almost 50% but that risk is limited in my portfolio. I also have some up 100% and more.
I do believe in it for the long term and I have been reading some things that I think are good for the company. Of course, "feelings" tend to "create value" in the stock market (or lose it) way too much.
 
I do believe in it for the long term and I have been reading some things that I think are good for the company. Of course, "feelings" tend to "create value" in the stock market (or lose it) way too much.
You can’t trade on feelings. Only trade on technicals and the technicals have not changed for gold and gold miners. Fundamentals are still bullish for gold.
 
Wrt Newmont they are in the group of senior miners that have not broken out yet afaik. I own some midtier producers that are still very valuable. For example EGO is around $12. I bought it at $9. In 2011 it was at a high of $105. We haven’t gotten there yet imho. The p/e ratio for even $1500 gold is making this stock ridiculously cheap.
 
For the life of me I can't figure out what's going on with my mining stock. it's down almost 9% since I bought it in April. It's Newmont, FYI.

NEM is the most popular gold miner, so basically everyone bought it back in April when gold recovered quickly coming out of the crash, and NEM hit a 7 year high. The rest of the mining sector, which isn't well known like NEM, didn't peak til August.

So it's been consolidating since then along with the rest of the gold sector.

It's difficult for such a large miner to grow via discovery and development, so you're basically buying it in hopes gold goes up so their profit goes up. That's why those of us who are big into mining stocks buy the juniors or mid tiers rather than the Newmonts. If I were you I'd trade it ASAP for GDX or GDXJ, much better upside and less risk than owning a single miner. I say ASAP cause the mining sector has been bottoming in late November and many stocks have been moving up in December. I didn't buy much of any mining stocks between May and November, but have been buying a lot in the last 3 weeks.

If you want to stick with NEM it'll go up too, once the sector is breaking out and generalist investors start paying attention to the gold miners again.
 
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I do believe in it for the long term and I have been reading some things that I think are good for the company. Of course, "feelings" tend to "create value" in the stock market (or lose it) way too much.

Last spring a lot of mines were shut down due to Covid so there's that risk for a large producer like Newmont. That could limit its upside in early 2021. Generally the miners lead the gold price, but it's an unusual situation with Covid shutdowns suppressing miners while Fed and Congress printing inflate the gold price.
 
For silver there is always Sprott silver trust which will just track the spot price.

If you want leverage to silver, there are actually very few pure silver miners, most silver comes as a byproduct of other mining.

Here are favorite silver mining companies:
First Majestic (AG)
Alexco Silver (AXU)
Silvercrest (SILV)
America's Gold and Silver (USAS)

All are still cheap, most are still down 40-50% from their 2019 peak unlike gold miners who are getting close to or at all time highs.

They could all go down 30-40% if the General stock market sells off so keep that in mind. I'm hoping for a miner selloff but it's looking less likely. If they don't sell off by this Friday they'll probably break upwards.

For skeptic Rob, let's check on my April 22 recommendations:

AG +65%
AXU +84%
SILV +51%
USAS +36%
And that's after a 5 month pullback. USAS and AXU are still great buys imo.

To be fair the S&P500 is up 32% as well. Crazy times.
 
I have EE and I bonds from the early 2000’s that my daughters received as gifts. I may cash those in to buy some silver for them now after I found the bonds in the back of the safe. Can we imagine how worthless they will be on 20 more years?
 
I have EE and I bonds from the early 2000’s that my daughters received as gifts. I may cash those in to buy some silver for them now after I found the bonds in the back of the safe. Can we imagine how worthless they will be on 20 more years?
This.

My Niece cashed in her EE's from 1989 through 1992.
About 13K.

When the .Gov needs to do a "Bail-In" to support the Dems (and some Repubs) Socialist Paradise, I feel they will go after the low-hanging fruit first...

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I have EE and I bonds from the early 2000’s that my daughters received as gifts. I may cash those in to buy some silver for them now after I found the bonds in the back of the safe. Can we imagine how worthless they will be on 20 more years?

I cashed out my $5k in I-bonds a couple years ago. Good riddance!
 
Wife and piled into EE bonds for the kids college education. If used for educational bills they would be tax free. We failed to read the fine print. By the time we needed the money, we were making too much for the tax free part. Planning for 18 years in the future is not easy. Buy a tube of eagles once a week. The feds will have a hell of a time finding that for taxes.
 
Tax loss season is two days from being over and charts show the gold and silver miner 5 month correction has bottomed - so miners could start a new bull run this week, and gold and silver prices will likely follow.
 
Tax loss season is two days from being over and charts show the gold and silver miner 5 month correction has bottomed - so miners could start a new bull run this week, and gold and silver prices will likely follow.
So.... you’re saying I should buy more? 😁
 
So.... you’re saying I should buy more? 😁

Yeah, if you're not fully invested already. A lot of stocks are already 10-20% off their Nov or Dec bottom but a few are making new 5 month lows due to tax loss and/or private placement shares being sold off. Lion One, Osino Resources, Irving Resources. The first two are good buys imo. Novo seems to have bottomed already.

This can be a good week for bargains if anything sells off due to the low volumes.
 
I was reading in the paper today that Congress wants to replace the dollar bill with a coin. They’ve already done it. It’s called a nickel.

~ Jay Leno


Just now, America is producing almost nothing except money, money in quantities that stupefy the imagination — trillions here, there, and everywhere.

~ Jim Kunstler
 
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Need some opinions, we closed a CD account, best they could do is a whopping .035%. Got about 6k I want to put towards PMs. So far we have only bought silver and done pretty well with it. Should we stick with silver or add a little gold to the mix? In for the long haul too.
 
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Need some opinions, we closed a CD account, best they could do is a whopping .035%. Got about 6k I want to put towards PMs. So far we have only bought silver and done pretty well with it. Should we stick with silver or add a little gold to the mix? In for the long haul too.

While silver is more undervalued than gold, and has more upside, I think if this is a long haul purchase get some gold, cause it's a much more universal store of value. Silver is much less popular outside the US.
 
Great article here about the silver bull market and silver stocks. Great recommendations - you don't usually get this kind of good info for free.


9 good recommendations, I own three of them: Silvercrest, SILJ and Blackrock Gold.
A lot of info in that PDF.... Above my paygrade.

Here is a simple question. When going with bullion - is there a better or more trustworthy company people would except?

I dont own much bullion... Mostly Eagles and Maples. They come with a premium. I might start getting into bullion... Just curious if there are brands I should stick with. Like Apmex or Scottsdale?
 
A lot of info in that PDF.... Above my paygrade.

Here is a simple question. When going with bullion - is there a better or more trustworthy company people would except?

I dont own much bullion... Mostly Eagles and Maples. They come with a premium. I might start getting into bullion... Just curious if there are brands I should stick with. Like Apmex or Scottsdale?

Put Kitco on your list.
 
Risk off selloff in gold/silver today. Since risk on hasn't been the driver of the PM rally the last few years, it's probably temporary. But technically gold and silver needed to fill the gap from $1900 to $1950 (for gold) and is doing that today.

The selloff in miners is pretty subdued and orderly, and unfortunately not enough for bargain shopping.
 
I get caught up in the hype of the last of the heraldic silver eagles for 2020. I bought 20 of them, slabbed in MS70, first strike. They were not priced at the rape level and I ended up paying a bit over 40$ a coin. Then the Mint changed the rules.

They are producing 2021 SE's under the old design for the first half of 2021 and then shifting to the new design sometime around July. Personally, I think the new design looks like it was drawn by a 10 year old, but be that what it is, I now have to buy 2021 old style in MS70 and then 2021 new style in MS70.

What say you guys, getting any 2021's?
 
I get caught up in the hype of the last of the heraldic silver eagles for 2020. I bought 20 of them, slabbed in MS70, first strike. They were not priced at the rape level and I ended up paying a bit over 40$ a coin. Then the Mint changed the rules.

They are producing 2021 SE's under the old design for the first half of 2021 and then shifting to the new design sometime around July. Personally, I think the new design looks like it was drawn by a 10 year old, but be that what it is, I now have to buy 2021 old style in MS70 and then 2021 new style in MS70.

What say you guys, getting any 2021's?

I think silver has a good chance to testing $22 (and gold $1770), but physical likely won't reflect those prices. Still prices should get a little better in the next month or two.
 
I was rather puzzled to see gold prices drop by 1% today after Biden's announcement of even more giveaways and thus US Government indebtedness.
 
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