not necesarily. if gold meanders in range for awhile gold miners may meander up. I think the next recession will bring prices lower but the response of more stimulus can make PM's shoot up. Dont see any 'crisis" anytime soon. they tend to happen every decade or so in the USA.
i bought a position(albiet) small myself today. Im being humorous but hopeful. I also have some of passport, same basin. if like to add a little more but ill wait for 2014. no rush. good luck
your right but wall street is usually ahead of the curve and have bashed them already. GDX held above its 52 week lows, even as gold went down 3.5 percent or so. the trick is you gotta sell if it goes down that buck.....
I, the king of all knowledge, am calling a bottom on this stock. at the most mabye 1.53 or so. potash tends to go up in january and its chinese partner will announce some big news in early 2014. Also a bottom in gdx but thats a different page i know. thank you for your time.
id imagine theyd go with prospect since they already are working together, albiet on paper at this point. It may be profitable at 300 dollars but they would still have to come up with so much money to get the project going. What are you missing? a few hundred million to get the ball rolling to make us richer-lol.
yeah ok, asians hate gold so much. THey are buying left and right at these prices. Who knows what gold will be in the future but i do know one ting. alot of it is going to central banks, just like it did for the previous selloffs.
who knows but i doubt that low. In the late 80's-90's(last bear market for gold) the world was a much smaller place now asia is huge and still growing and are buying gold left and right. Also wall st has sold so much gold already, to get to 400 comex it would be practically empty. Hey, your pick so far is great for 2013 and anything is possible.
folsk todnt seem to anxious for selling. gold/silver are getting hammered and this is down only 2 percent. that has been recent action. Bottomy I hope. I big, juicy bottom...
all depends on the spot price. at 300 why take the risk? My hopes and thoughts is potash has hit a bottom and meanders higher from here. Sichuan made a statment about prospect saying 2014 should be a"promising year". with their debt reduction prospect is kinda back in play. dont know if tahts good or bad.
more pain today bro. but in the big picture it really doesnt distract from the fact thatqe/low interests continue with a vengance. we still have less but still meaty budget deficits and going out we have massive unfunded liabilities. Its sucks I know, i own some of the same stuff you do but 2013 was terrible but selling now may be 'selling at a bottom' or near bottom. the taper of 10 billion is agreat reason for tax loss sellers t finally bail, they now know their wont be a bump from bernake. Low interest rates forever, more debt, more ounces going to asia. Its tough but i gotta think of the big picture and learn from mistakes..
bold prediction, not sure about it. Id be glad to see 30 though and stable, slowly rising PM's. The trend does point down it it just feels like we need that last big selloff. Every rally fizzles so quick, like today even.
true, a good point. I think Japan has a much higher percentage of their debt in Japan while we have much more with investment institutions and sovereign banks. I fear that one day somebody big will bail on treasuries and starts the ugly ball rolling. Im amazed central banks still keep piling US paper, youd think theyd want other currencies and investments to balance it out a bit.
a buck sound great to me. Consolidations, buyouts, closing projects etc are neededacross the whole JM world to get projects more viable. Hopefully passport and the basin in general will be one of the green projects left standing when the smoke clears.
good post. that is the question, arguable of the decade. After so much to keep rates down they have to monetize them just to keep them low. How can we service the debt if rates were to double or triple?
thats a large quetiont with many answers. It went up for 11 years straight and was great trade for longs. Even with all the debts and monitization since 2011 it was bound to have a big selloff and it did. Selling begets selling and the big trade is shorting gld's, slv etc. Plus miners were so bloated and caught off guard to declining prices.They need to consolidate, layoff etc. Europe is quiet, us economy is okay with "low" inflation, true or not the official numbers are quiet. Stocks are hot so smart money sold the past winners and jumped in. IF you own PM's for the long haul its tough but i dont think our debt situation is good and only going to get worse with aging populations, increased govmt. I bought a while ago so im still positive but i dont see good tiems soon. maybe late 2014 or more untill all that stimulation and debt makes it back into commodities(like 2007-08)at the end of that cycle