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Global X Gold Explorers ETF (GLDX) Message Board

  • iwynne2002 iwynne2002 Apr 17, 2013 3:01 PM Flag

    Where's the Bottom?

    Amazing how this thing just keeps tanking. You would think that it has to find a floor at some point but where?

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • A never seen before standard deviation event for the miners, markets always revert from this condition unfortunately that's the closest thing to a script available to us little guys unfortunately. Little guys getting blown out of the water by the big fish right now, dummies on margin are always the first to go.

      Sentiment: Strong Buy

      • 1 Reply to dick_butkiss
      • Have you noticed how physical silver and gold sales have gone through the roof during this epic price drop even as premiums are rising? Take a look at any of the major online retailers and you'll see silver eagles going for about $5 over spot on average. On Ebay you can buy eagles and Canadian maples for about $31 bucks.

        We're seeing an increasing divergence between the physical and paper prices of gold and silver. Unfortunately for the miners they will suffer heavy damage until the paper(fake) price recovers.

    • I here that there is a lot of support at ZERO. LOL....but seriously....I think I made the right choice by getting out just above $5 and moving to GDX (although an even better choice would have been never to get involved with this sector in the first place....DOH!) ;-)

    • Most of these companies will probably not survive if they aren't hedged at a certain price level for gold, silver, etc. If the price continues to slide to like sub-$1000 I bet most of these can't survive it. Its better to buy the large players that are hedged and can survive a Gold price collapse. I think GG, GOLD, AUY and AEM are hedged and pretty high quality. Also I think SLW & PAAS are hedged for the Silver miners.

      Sentiment: Sell

 
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13.370.00(0.00%)Apr 17 4:00 PMEDT

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