Gold back up over $2400
Silver back up over $28
Miners waffling like Romney on healthcare
Silver back up over $28
Miners waffling like Romney on healthcare
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Gold and silver prices are down
- Thread starter Rider
- Start date
I still kind of think there is an Israel/Iran "bump" in gold and silver that is strong enough to hold up the metals but not strong enough to hold up the miners. Whatever it is, the argument that as an industry miners should be doing rather well at today's prices ought to be supporting the stocks on fundamentals. OTOH, the market doesn't pay attention to fundamentals anymore, so nevermind.
I’m waiting to see how 10Ks draw in more investors for senior producers if the $2100 gold price procures higher cash flow and dividends eventually. If the aisc of the seniors is around $1600-$1800 then a gold price of $2400 is basically extremely positive cash flow for Q2 earnings.I still kind of think there is an Israel/Iran "bump" in gold and silver that is strong enough to hold up the metals but not strong enough to hold up the miners. Whatever it is, the argument that as an industry miners should be doing rather well at today's prices ought to be supporting the stocks on fundamentals. OTOH, the market doesn't pay attention to fundamentals anymore, so nevermind.
Varmint
NES Member
I still kind of think there is an Israel/Iran "bump" in gold and silver that is strong enough to hold up the metals but not strong enough to hold up the miners. Whatever it is, the argument that as an industry miners should be doing rather well at today's prices ought to be supporting the stocks on fundamentals. OTOH, the market doesn't pay attention to fundamentals anymore, so nevermind.
That’s pretty much it right there. I’m HODLing.
Varmint
NES Member
GDX is now at the same level it hit when gold went from $1000 to $1400 in 2016.
I’m continuing to $ cost averaging. So I am hold and add physical 
Didn’t add anymore physical but did jump into another position in GDXU at $35.
Not lookin good for Barrick as the Loulo-Gounkoto mine in Mali may be taken over my the junta. This just shows the jurisdictional risks associated with miners.
I put about 15% in GDX and GDXJ on Monday. Bought a little more AG as well. Mostly still waiting.
FTCO up +8.57% today @NavelOfficer
Varmint
NES Member
It’s only 13% of their revenue, but major producers have too many risks for the potential of 2-3 baggers at most.
richc
NES Member
Not only do they lose 13% of revenue, but likely all the investment in personnel, equipment and the costs of starting up a mine. Gold is rarely on the surface, and these guys often have to excavate for years to get to the PM's.
This is going to leave a mark. And it makes me wonder if other companies or mining sites are in the crosshairs?
Varmint
NES Member
Generally the companies whose assets are in sketchy countries have much lower valuation. But there’s nowhere safe now. Mexico went from a top jurisdiction to a risky one now, and a company in Alaska had their permit revoked by Biden, that’s almost unheard of, cause companies spend billions after getting their permit, assuming it’s solid.
Varmint
NES Member
Keep in mind this is just talk, Mali hasn’t done anything yet. Often it’s just political talk that will amount to nothing, like Washington promising to help poor black people.
Varmint
NES Member
GDX chart - I wouldn't pay too much attention to his predictions, but it does show how miners haven't broken out of their trading range yet. When they do, they won't look back.
For GDX to go back to $30.5 like his chart predicts, gold would probably have to sell off under $2300. If gold stays up here, it'll keep miners from selling off much.
Yeah, I’d like to see his stats on predicting price action. Since GDX broke through $32 and gold through $2400 the sky’s the limit afaic. Only some marked change in macro will change this move such as peace and tranquility with stable economic growth but we all know that’s near impossible with the debt/credit/multipolar crisis that can’t be constrained much longer. The US election cycle seem to be the only macro lynch pin.
Varmint
NES Member
I haven't come across anyone who correctly predicted gold's move the last year.
Many predicted the move, and were way early on the timing, nobody predicted the timing right.
A gold retest of $2250, or $2150 would be no big deal, imo. Miners would probably sell off if this happens soon - I think the longer gold stays up here the stronger miners will get.
Win
NES Member
Barrick was up yesterday and up in pre-market today. I don't know what they are doing about this mine but investors don't appear to be scared off...at least not yet.
I'm not making any investment recommendations to anyone. I just hate leaving money in a bank savings account that will get inflated away or potentially 'bailed in.' I'd rather take some risk with that money and be potentially rewarded with appreciation. I can get money out of my individual stock accounts in a day which is fast enough.
I'm not making any investment recommendations to anyone. I just hate leaving money in a bank savings account that will get inflated away or potentially 'bailed in.' I'd rather take some risk with that money and be potentially rewarded with appreciation. I can get money out of my individual stock accounts in a day which is fast enough.
Varmint
NES Member
I think there’s a delay before higher gold prices affect the selling prices of metals so might be more like Q2.
We’ll see what Agnico, SSR, Wesdome, and Newmont offer up late April but Q2 earnings around July should be stellar as you say.
Palladin
NES Member
Hear what expert thinks about people buying gold bars at Costco
Financial expert Suze Orman joins CNN’s Erin Burnett to react to an increase in purchases of gold bars from Costco, and what this spells out for inflation worries more broadly.
Suzy doesn't think you should be buying Gold
richc
NES Member
Depends on their hedging strategy. Many mining companies sell gold futures to raise cash for mining operations. Much like farmers sell contracts on what they grow. But that limits their upside if/when gold gains value.
She just says think about storage and how you're going to sell it. If you're just planning on storing it for a while and selling it later, you might decide on a more convenient way of investing in gold. Most guys around here aren't planning to sell their physical gold, so ...Hear what expert thinks about people buying gold bars at Costco
Financial expert Suze Orman joins CNN’s Erin Burnett to react to an increase in purchases of gold bars from Costco, and what this spells out for inflation worries more broadly.www.yahoo.com
Suzy doesn't think you should be buying Gold
Cool! I wouldn't trust Suzie to feed my cat.........Hear what expert thinks about people buying gold bars at Costco
Financial expert Suze Orman joins CNN’s Erin Burnett to react to an increase in purchases of gold bars from Costco, and what this spells out for inflation worries more broadly.
Suzy doesn't think you should be buying Gold
I don't now and probably will NEVER have a cat.
Varmint
NES Member
A $400-600 move in gold is huge. Miners have learned not to hedge their entire production, that’s been a ticket to bankruptcy.
Varmint
NES Member
If you go on CNBC, you have to push Wall St products, or they don’t invite you back.
Nobody on Wall St makes a dime when you buy physical gold.
Varmint
NES Member
Wait til juniors start revaluing their assets valued at $1850 gold to $2250.
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