time will tell but "when blood is in the streets' is the time to buy. does this include passport? who knows but eventually the excessive stimulus(think 2007/ early 2008 crawl into the commodity sector and we get inflation again. its the same story only XXL.
yes all the money printing and debt creation will doom gold long term.... Wall st is what is hurting gold not the fed. the fed has been golds bosom buddy since 911
you have to consider mining costs and the fact miners increased capacity and opertions since then. But i do think miners are atleast due for a 10-15 percent upswing shorter term. Just oversold and hated so much right now.
miners in general need to to deleverage, close mines, shelve projects. downsize etc before you see miners start a true uptick. I do wonder if potash has kinda bottomed along with some metals..
a link? supporting evidence? we here this "gold backed" stuff all the time. maybe by 2030
sure. i agree and maybe miners, not so much physical is getting to bargain basement prices. But they could have amuch farther to fall. One big issue is you need to see more cost cutting and less mining to offset the low prices. I think we need that hard, third big sellof to really clean things out but we have only had tow i nthe spring and summer.
I like gold and have fora long time. But to go up for so long i should have known that the parabolic move in 2011-2012 would go down hard. It took 2 solid years for equities to bottom out(summer 2007-sprng 2009) and it will take time for gold also. I agree with you though QE wont be tapered for a long time and eventually you will see commodity inflation but for now gold is just so unloved for now. eventoday it was up 10 bucks and no it is going down.
im starting to feel the same way. Notice how they cleverly attach themselves to other companues accomplishments? if you read it quick you think its them but keep reading and its not. Im debating bailing also for a small loss. I was really only hoping for a quick bounce but that third one may not come and it was a dime not long ago.
i bet youll get a quick bounce to 25-26 for the holiday period and then back down. even #$%$ has bounces. Bottom? i still think we got that one bad week left to 1100 for true bottom.
the best and most realistic thing to hope for for most JM's is a consoladation of companies or a buyout of some sort. Passport, along with most JM's cant do it alone in this enviroenment and you should hope for the above mentioned scenarios. May not be a huge PPS but still could be respectable. 15-20 is that its mining and its independent, low odds. My hope is that someone buys it to hoard future reserves and to cash out. As a long term reserve of Potash its as good as any.
I dont even own any prospect and i own some passport. warned me of what? i owned both some time ago and sold for a small loss Selling passport this past summer was a smart move that saved me dearly. I recently added a small amount pasport last week at around 6 cents hoping to be 'bottom feeding' so to speak but hey i can question myself if i please.
i feel your pain. today gold is quiet and so are markets but its down almost 3 percent? I can only blame myself looking back. never willing to sell whne prices were good. The doom trade was good for 11 years but lets face it, the US economy will probably hum along for a few years and dow 19000 isnt all that crazy anymore....