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Nice! May want to get back in. Gold and silver are about to go on a run higher. Gold to $1400 and silver $21. Even EXK will make money at $21.
Gents
Bought in @2.12 took profits.
Anytime you're in the green on a buy, no matter how small of a profit, it's still a good buy. Need a little pullback in PMs before the next climb. I think we'll see some buying on Thursday when some end of month re-balancing takes place. PMs are still bullish, miners not so much.
Maybe a very good buy if he sold this morning. Spot price of gold and silver based on COT indicates a retracement. Of course if the world ever comes to terms with the currency ponzi scheme all bets are off wrt technicals. That could happen any day soon or years from now.
Nice buy! Hope it continues up with silver.
And I said that in jest. You never know with that nut.
Maybe I'm wrong. Norks just fired a missile over Japan. Crazy!
Maybe some profit taking, but I don't think long profits amount to much. I think the we will see a huge paper dump to keep spot in check. Kim will continue to develop weapon system until we attack. Imo He is not suicidal or as crazy as portrayed. Imo
I expect some profit taking soon. Unless the goof in North Korea starts firing missiles at land.
Gotta believe we see a bank sell some paper contracts in gold or silver tomorrow. London markets are closed today. They've got to hold down this move. Imo
Still around $17 spot. Amazing to me that spot silver can be held down at this level with the political tension and economic distress. US consumer debt at higher level than 2007. Fed claims they are gonna reduce their balance sheet and raise interest rates. Raising interest rates equal recession or asset bubble burst.
August 10, 2014 spot Silver on London fix dipped below 20 and has remained. The world macroeconomic situation and political theatre and potential for WW3 has significantly heightened. Silver supply has dropped relative to demand...yet the price is around $17.
I tend to believe the market is fixed/controlled. I guess another reason for relatively low spot could be that typically potential demand has moved into Crypto currencies.
Might be a good move. I think Gld and Slv will get knocked back down after the Korean issue gets off the front page. The problem with investing in any junior miner is that a management misstep or bad Q call can hammer the stock...ala exk. Meanwhile no dividends if you stay in the stock. For most of us we should probably diversify in something like gdxj.
Just an fyi. I used the money that I was going to use on EXK and bought GPL yesterday at $1.27. I was a bit surprised it got filled but with this bear miner market, anything can happen.
They have become the new Primero (PPP). PM's are hot and everything they do is wrong. Not a good practice.
Silver spot is up albeit below $17. Exk stock down again. I don't think there is room for large expense cuts and maybe investors recognize this issue. This company might be on the brink of collapse. I hope not, but thats what the stock is saying.
I agree. Until they get costs down and product up, no reason to jump in.
Seems like a wise course to take. Apparently management has some significant challenges ahead that makes owning this stock more risky than previously thought. Without a buyout this stock seems likely to continue downward. Jmo
I've re-evaluated taking a position in EXK. I'll wait for 3rd quarter production numbers and see where they stand. Why risk silver dropping and EXK going down more? If I make an investment, I'll let everyone know.
Good luck with your other investments. I think this was a bit of an over sell here on news that we already knew. I'm going to jump in next week after some cash settles. Probably just a couple thousand shares. Nothing too big. That way I can cost average down if it continues to drop. I'll take a long term risk here at this price.
Hope you stay in touch here. Always respect your comments and insight.
Too much risk here. Imo
Aisc at 15 and Terronerra production not likely to help for a couple years.
It's a mistake to "invest" in miners such as exk. It's a high risk gamble...not an investment. Im outta
here. Glta
The best chance for stockholders is for Bradford to sell the company. I have a feeling his ego will get in the way to that happening. Imo
Q2 report not good. This stock is taking a big hit today and based on comments is unlikely to move positive in the near future based on comments about Terronerra. Potential production ramp seems delayed until 2019. Best hope for investors is a buyout if silver prices increase. Imo
EXK reports in pre-market tomorrow. A great conference call could get this rolling. Production was down in the 2nd quarter so we'll see what that leads to on eps and revenue. Strange that this was at a higher PPS at lower silver prices but low volume and no buyers give the high short interest here a chance to run it down. I have cash on the side in case it drops more so I can get back in at a lower price. If it jumps, good for all!
I think Q2 report is tomorrow. I hope nothing unexpectedly bad is reported. We need a good report just to hold $3 range. Imo
Meanwhile the markets continue to climb a wall of worry, while the miners backtrack, even as the dollar continues to sink.
Central Banks continue to push markets up. How many more years before they lose control? Maybe we should expect close to zero interest rates in perpetuity.
This week:
Trump, Putin, Un, Russia , China, North Korea, Iran, Venezuela, weaker economy, weaker dollar, weak earnings reports, etc. $17 is reasonable. $17.50 not out of the question. A lousy jobs report on Friday, not sure how high silver will run. Gold should climb too. Silver will jump faster. Just my opinion.
Can we just get another 10% in gold/silver price please?
Gold has done pretty well for the year holding around $1250. Miners are seeing high shorting right now and low volume days which is not a good for an uptick in price per share. It's just a waiting game right now as earnings start to trickle out next week. Like any long term hold, it's just a matter of patience.
Maybe, but my guess is that we will continue in a bearish manner until a huge event shakes up the world. Just about everyone is aware of the massive worldwide economic problems. I think the US stock market will continue to climb the wall of worry because Central Banks around the world know that they need to keep it propped up. It could be years before we see a significant turn around in the Miners. The old saying of don't fight the Fed is certainly evident.
If the dollar index begins to move below the $93 range, I fully expect Yellen to talk up the possibility of raising rates but only slightly. They will try to talk up how great the economy is and that we will only see a slight interest rate rise. This will push the $ back up and we will see GLD and SLV stagnated. JMHO
Of course the so called black swan could show up at anytime and all bets are off then. I would wanna own some GLD and SLV when that occurs. Owning a mining stock could be tricky, depending on the severity of the event. JMHO
Gold and silver futures were at an all year low last week. Speculators may pile into the trade and drive us above $1300, especially if the dollar keeps falling. That would trigger a lot of the swing traders moving in and then the rest of the investing world would have to take notice of the mining stocks's growth potential in this market of terrible yields and decaying fiat money.
Until gold/silver get hammered down, enjoy the ride. Maybe the hammer doesn't fall.
Looks like CB's have everthing under control. They talk the $ down by claiming little or not enough inflation. In the same breath they claim to stop reinvesting in their balance sheet starting soon. So we get a bit of a kick in the gold and silver spot....but I fully expect it to be hammered back down soon, when the Fed follows through. Can you say stagflation? Seems likely for many years to come. Imo
The malfunction might occur in bitcoin on August 1st. If there is a bitcoin collapse, gold will benefit greatly.
Perhaps, but hard metals can jump wildly in the face of any number of global panics, defaults, wars or uncertainties. When, not if IMO.
Both industrial and financial interests benefit from low silver spot prices. As long as they can control spot through derivative contracts...they will do so.
Supply/demand will continue to be secondary concern when determining price. It will require overwheming industrial demand to move price up significantly. That will likely take years. Imo
Give it time, silver and EXK will shine. Market forces will prevail and until they do, buy on dips.
https://www.marketslant.com/article/research-case-return-50-silver-pdf
This analysis of supply suggests $50 silver spot price. Sorta supports my suggestion that supply demand is almost irrelevant to price. The paper derivatives/fake $ market is much more important to silver spot price determination.
The 2nd largest silver mine in the world was shuttered a few weeks ago. You'd think stocks like exk would react significantly if supply/demand equation was a factor in determining silver price. Apparently, supply/demand equation not so important. Do free markets exist anymore anywhere?
You might be correct. It might take a malfunction of a major currency to move gold and silver. Jim Rickards thinks it could be the USD that takes a hit when the IMF convenes in mid October. We shall see.
Gold and silver will move when Japan strengthens the Yen. But why would they when you can have a choice of buying US products or Japan products at a 12% discount. You can toss the Yuan in there too. China and Japan are happy the US dollar is stronger than their currency.
5 years ago...silver spot price was over 30 USD. Last year it was over 20.
It is no wonder that silver miners continue to languish as spot hangs around the 16/17 level. It will probably take considerable time for confidence to return and show up in stock prices. Imo
The caveat to my point could be some kind of worldwide disaster...but it seems bankers have markets wrapped up and under control. Imo
Should be good for all miners.
http://averybgoodman.com/myblog/2017/07/17/gold-bullion-banks-close-huge-numbers-of-short-positions/
This could be good for exk if the bullion banks got it right.
Someone did tell me that August 1st will be a day that could have a big impact on bitcoin. Not sure why but maybe if it drops, PMs will get a nice run.
August 1 seems to be a day of concern for bitcoin. Developers are dealing with scalability issues. I wonder if this fork could set off issues affecting other markets.
Crypto currencies will likely play a big role in future transactions. Imo
However, I fail to see how they effectively eliminate the fiat concerns. It seems to me that as they scale, people will realize that they store no value.They will actually be a decentralized fiat that could lead to anarchy. The governing authority of the coin resides with developers. A state of anarchy is Not good for anyone!
My advice on crypto is to stay away from ether. They have no top limit to the number of contracts that they mine. Could just keep producing it as a form of dilution and devalue it. Bitcoin and litecoin should end up as the gold/silver ratio equivalent. Just my opinion.
Yes, International Monetary Policy is fascinating. I do wonder if block chain technology will be a real threat to Central Banks around the world...or will it simply transfer more direct power to large corps. like Microsoft, JP Morgan etc. and essentially result in a different Central Bank.
Financial systems will undoubtedly be affected. Cryptocurrencies are not actually being used as "currencies" to any large degree. But dollars and juan and euros and yen etc. are obviously flowing into Bitcoin and Ether, etc. as speculation that they ultimately will gain acceptance as currency.
I wonder if the massive derivatives contracts that manipulate the price of gold and silver will diminish as Crypto's make headway with the mainstream. I like Exk not only because silver prices could skyrocket if worldwide inflation hits one or more of the major currencies, but also because silver is used in so many products. For this reason, bankers and governments will continue to attempt to stabilize <hold down> prices but they can't let the miners go out of business. IMO
Good read. Thanks to you and hitman for keeping us all informed.
International monetary policy is....fascinating?
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