Loading ...Okay, confession time.
I don’t get it. Just do not get it. Since 2011 gold has been a fools game with short bursts of profit making moves. Very short bursts. Then it is back to grinding grinding grinding…
Oil can keep marching ahead, day after day, week after week, going up in price.
Gold fights for every step up, tooth and nail, then gives it all back like coming down a greased pole.
Don’t preach charts, how about an explanation? Think of the bull moves in steel. Copper. Basic minerals. Look what’s happening in uranium.
Gold production is down. Miners are cashed up and making $$$ by the boatload. Debt is way down. Central banks keep adding. China demand stays strong. The folks in India are back and buying with both hands.
And here we sit, hoping and praying that someday the gods of investing might allow the price of gold to actually be discovered.
Enough to make me puke. Pardon me while I do…..
Well, Oil investors did have to stomach a negative futures price. How’s that for the faint of heart!!
Let’s turn this around…I just stumbled upon SBSW again today. They made $5million net profit in 2019 and $1.78 BILLION in 2020!! Yielding almost 9%!!! Giddy up!!!
Taking a small nibble here at support and will back up the truck for the long term if it falls out of the box. DYODD
Uh, they delivered a 90% profit increase in the March 2021 quarter vs year ago to $1.3 billion for the quarter. Sure looks like it’s gonna fall out of that box. How could it not – it’s making money hand over fist AND it is buying back shares as of June 2, 2021. Guaranteed to drive the stock price down: huge and growing profits and a share buyback. The perfect storm.
LOL! They’re doomed!
Probably close their doors next week!!
Oil will keep going up because that’s what will force people into the “Green Agenda”. You’ll be begging for an EV by the time Biden is done cancelling pipelines! After reading your post, it seems like Gold might be ready for another leg up soon, haha. As a long time investor in the sector I do share your frustration though. We’ve been watching these rolling bubbles in sector after sector. What’s next?
If I were in charge of maintaining a positive outlook on my fiat currency I certainly would manage the gold price, but that just me.
Yes, us PM investors have been played like a fiddle! I look at a price of silver sitting at 27 bucks with all the other PM’s in thousands. What a sick joke is being played on us. I’ve been looking at all those other commodities and somehow I missed all the fun…Been working and only really looking at PMs the past three years. Oh well, once we throw in the towel it will fly to the moooon. Lol
Precisely!!! You are a fast learner…
Gold up 3 cents in Asia
I was excited the night before when it went up a nickel! Before declining, of course…
FED DAY===RAPE DAY for PM investors typically. Watch them lull us in and then BAM