Loading ...YTD most PM miners are up
It varies but some are still up +20% even after today.
This conflict is causing a rebalancing. Throwing the baby out with the bath water.
Nothing has changed with Gold and Silver. Central Banks still printing more currency. Inflation about to rise.
Times like these teach us to keep a certain amount in cash. Either for day to day expenses or to buy good solid companies. I like a four month supply personally. Eliminates panic selling.
I do not know the true value of Silver but the miners are still receiving over the Average Q4 price. The mkt is mis-pricing out of fear. If we didn’t have 20-20 vision in hindsight and sell at the top, it may not be time to sell out of fear. It may take some time to reprice higher but we should be used to the volatility in the metals.
Off Back-Country skiing with my Russian MD friend who is very Conservative politically. Always a learning experience listening to his story.
Have half on the sidelines. The miners are collapsing and will probably do so for a month and a half. I wouldn’t be surprised at another 20% draw down. The producers make a lot of money but the collapse is caused by psychology.
If the POG stays above $4K US — then producing miners are ALL swimming in money.
Average AISC are rarely (actually never seen one) above $2K/oz — so minimum 100% net profit margins.
Issue is indeed psychology combined with decades of suppression /manipulation by the banking system — perhaps investors are simply nervous that TPTB have more “tricks up their sleeve” to hurt the sector.