Gold price manipulation reached its culmination on Monday with an
over-night low around $1320. The multiyear resistance of gold at $1525 was broken the previous week, triggering the plunge. After a suggestion by IMF president Christine Lagarde, rumours were out that Cyprus was to sell its gold holding in order for the €10 B bail-out loan to be approved. Little imagination is needed to shift focus to Italy: in a political stale-mate and with debt equally spiraling out of control. Contrary to Cyprus, Italy does have meaningful gold holdings, however still only worth a fraction of their outstanding debt.
Saturday, 20 April 2013
Saturday, 13 April 2013
The puke moment for precious metals and miners
This is worse than a nightmare !
With gold down $84 today and silver shedding $1.81, we can't have much more... and we got more on Monday.
Continuing the slide at that pace, by the end of April we will get paid to carry away those metals previously considered precious... and smelly beggars outside the shopping mall will put down a sign in front of them saying: "no gold please". You don't buy the story? Then it's perhaps the time to stop shorting those metals.
With gold down $84 today and silver shedding $1.81, we can't have much more... and we got more on Monday.
Continuing the slide at that pace, by the end of April we will get paid to carry away those metals previously considered precious... and smelly beggars outside the shopping mall will put down a sign in front of them saying: "no gold please". You don't buy the story? Then it's perhaps the time to stop shorting those metals.
Subscribe to:
Posts (Atom)
Search This Blog
Favorite articles of the year
-
SilverCrest Metals and Coeur Mining have reached a deal for Coeur Mining to acquire Silver Crest in an all shares deal.
-
Silver mining investors won't have missed the news that First Majestic Silver will acquire Gatos Silver as soon as shareholders will ha...
-
Currency Crisis Coming: Peter Schiff predicts the dollar's demise if Kamala Harris wins the presidential election and four years of loos...
-
Miners once more started lagging before gold peaked? You read it right ! They did. With the benefit of quantitative analysis: the linear cor...
-
This film presents serious research and verifiable evidence on our economic and financial system.
-
The main Mining event in March is the yearly conference of the Prospectors and Developers Association of Canada, organized in Toronto.
-
Another good watch from a decade ago, which could well have been published today. Public debt has only been growing, doubling about every 8 ...
-
Last year a nascent regression between gold miners (using the HUI index of unhedged gold miners) and the yellow metal seemed to interrupt th...
-
Last month, on 6 Oct , James E. (Jim) Sinclair passed away at the age of 82. Jim Sinclair was the 'first gold bug'.
-
VRIC 2025 hosted at the Vancouver convention center on Jan 19 & 20 is the first resource conference of the year. This blogpost provides ...