written by reader Thoughts from Myron — The ABC’s of Gold Investing

by takeprofits | November 17, 2013 10:09 am

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Source URL: https://www.stockgumshoe.com/2013/11/microblog-thoughts-from-myron-the-abcs-of-gold-investing/


52 responses to “written by reader Thoughts from Myron — The ABC’s of Gold Investing”

  1. takeprofits says:

    As I have stated many times, I give stocks I thoroughly investigate and have faith in a project and its management, a MINIMUM of 6 months to prove themselves. While it is quite natural to obsess about daily price movements reflecting “market sentiment” on daily issues that have nothing to do with the fundamentals of a company, allowing yourself to be whipsawed by newspaper headlines is not the way to a profitable portfolio. The stock can just as easily recover by 25% in a matter of days or weeks. You can look at it 2 ways, you picked the wrong day to buy, the reason I advise using “stink bids” and limit orders, OR, this is an opportunity to buy more to average down, which is why I also advise splitting your allocation to a given stock so you have 2 chances at getting the best entry.

  2. jimmygee says:

    Thank you Myron,
    While the USA and Britain are printing Trillions of Worthless Paper Bank Notes (QE), the Markets can’t be reflecting the true state of play. Grateful for your suggestions even if half the time, I can’t buy them in Britain. How can one apply logic while Paper Mines are worth more than Gold Mines?????

    Just got scammed by a Firm called “Q V Cap” and a low life called “Michael Thompson”. Will pay a reward to get that “scum”, not so much for the money, but his invasion of privacy. I served my Country for 21 years in the Air Force, so there is no excuse for thieving. The British FCA know of the Scam, but what “I love” about this Country is if the fraudsters are NOT members of the FCA, then there is nothing anyone will do for you. The Fraud Police, The Ombudsman, The FCA, NO-ONE. As if the Fraudsters are going to join the FCA first, then defraud you. Unbelievable.

  3. greenfire67 says:

    Myron,
    Great picks. East west looks spectacular. Thanks for commenting on the Athabaska basin, I own Fission and Nexgen, may add Zador or UEX if uranium picks -up.
    About miners- ALLRF, Allana resc. looks prime, timing is right, spectacular concentrate #’s, low cost, @ surface, 65% capital needed for construction in pocket. I’m 3/4 vested, but you & readers may want to look at this one.
    Regards,
    Keith

  4. pj2nola says:

    Hello Myron:
    A follow up of question asked by Gerald (Nov 18) about ANV production costs going up substantially – did not get any response.
    “Hycroft Mine show costs per ounce going from $488 in 2011, up to $638 in 2012, then to $905 thru Q3 2013”
    Would really like to know if you have any opinions on the costs going up almost two fold since 2011 and why you would still consider it a bargain considering these dramatic increases in production cost ? Also noticed that the short percentage of the float is more than 20%
    Thanks much for your insight and great research!!

  5. takeprofits says:

    Thanks Keith, hope that helps Prabhat’s understanding, the point is that the price of gold and indeed precious metals in total, have been artificially depressed by the big bullion banks like JPMorgan and others, but according to latest reports they are now positioned on the LONG side, (after driving the price lower with sales of “paper gold” so they could buy cheap), so the price could reverse quickly and accelerate just as quickly as it went down. The increasing costs of labour, diesel fuel, new equipment, tires for older equipment have all escalated in price over the past too years while sales of bullion have gone down substantially putting the squeeze on miners profit margins. A few percentage shift on both sides of the spectrum can drive a once profitable mine to break even or even a loss until prices come back up based on strong demand and an end to manipulation

  6. greenfire67 says:

    Prabhat,
    Glad to help!
    Just to note, gold & silver are usually quoted as grams per ton ore, and critical metals (Lree’s & Hree’s) are quoted in percentages.

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