Golds next bull run? What to buy?Gold looks to be headed higher even with a strong dollar so what are the best ways to play the next bull run in gold? I know Travis has (SAND) in his portfolio but I’d like to know his thoughts as well as yours. Do long term call options make sense for more leverage? I’d like to know what others who believe gold is going higher are buying and what worked best the last time gold reached new highs. Thank you in advance for your input. JB
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$ERDCF…Erdene Resouces…No position….this is the Canadian exploration company looking for gold in Mongolia. It is selling for 35 cents. Sandstorm Gold has a NSR on Erdene, and Sandstorm Gold also owns 5 million shares at 20 cents, which they may or may not retain as they see fit now that they have negotiated the NSR.
Erdene has an interest in two underground deposits Hugo North and Heruga, which are adjacent to the Oyu Tolghoi open pit mine. All three together can be loosely referred to as the Oyu Tolghi project, which is being managed by Rio Tinto.
Some interesting things I found. You may recall that I asserted that the Mongolian mining interests were going to provide a major impetus to the development of Mongolia. I also asserted that political risk was reduced since there was a recent deal that gave the Mongolian Government a 34% interest, hence the authorities will have every interest in moving the project along since they are going to get filthy rich from it.
It turns out that the Oyu Tolghoi project is expected to generate over 30% of the entire gross domestic product of the entire country !
The deposit is so large and the reserves are so enormous that I am considering a long term speculation in Erdene Resources at 35 cents. As mentioned before, if you are in Sandstorm Gold, you have a stake in the project already.
You can be the first investor on your block to own a Mongolian penny stock !
But don’t tell anyone till you have cashed out for a 1000% gain. They will laugh at you.
And for God’s sake don’t tell your financial advisor or children, who may move to have you committed to an insane asylum.
Think I will buy some too! I agree with you, they would definitely move to commit me! I am already scoffed at by our financial advisor, our accountant and my husband! They think I am really stupid, and the only support I find is here in this forum, where I feel like I am not alone in my feelings. I do have to agree that I could very easily be a gold bug! I have collected mint sets and silver dimes since a young girl, so I guess I have always had an affinity for what I could hold in my hand, not a piece of paper. Gold better do BIG things, or I’ll have to commit myself!!!! 🙂
Investor101, sometimes the right thing to do doesn’t mean profits, but it actually can still be the right thing to do. I think of gold as insurance against loss of confidence in the government, and while I do hope and believe gold prices will eventually have their own bubble, that isn’t really my purpose. I buy life insurance, too, but will be very happy if it is never needed.
Having a portion (small) of our investments in gold is wise, even if it is never uber profitable, IMO.
Thank you, Sharon…my reasoning has been to have some physical also to protect my loved ones. Yes, I do think there will be a time to buy and a time to sell, I guess that is why I am trying to understand and stay on top of these investments I have made. I am grateful for all the giving and great people here in Gummy Land!! 🙂
Perfectly stated Sharon!
No one will be laughing at you if you own PVG, SAND, SLW, ABX, or FNV.
Just make the Mongolian and explorer speculations at the end in the proper proportions
and you will be able to fight off the commitment proceedings.
I do own some of all of the above mentioned. 100-500 shares of each. Planned to add if there is a pullback. I did write to Rick Rule and listed my holdings, so we will see if they respond. I have too many holdings and know I need to sell some of them. I will be sure to hold down the shares on the Mongolian acquisition, or they will ship me over there!
I also felt I had too many different holdings, but given that there is a fair amount of consensus that the gold bull has started in earnest (pullbacks notwithstanding), sometimes I think it would be the best strategy to push the remaining 12% cash into the highest conviction stocks and then put a lid on my brokerage account and just ‘let the golden cake bake’ for a few years. Instead of spending all this time fretting about allocations between different miners.
…unless everyone’s wrong about the expected gold market, investors focus on something else for a few years, and gold heads back down to the CPI-adjusted lows below $500.
I don’t think it’s likely, but sometimes if you read the same stuff over and over you begin to think it’s impossible,
Which can be a dangerous attitude for new investors who haven’t been through a bear market or a nasty surprise before.
(Not that you’re in that camp, hn, I just feel compelled to throw in a cautionary note from time to time, I know we have a lot of inexperienced investors who read widely without commenting)
Well said, Travis, and I will be the first to admit the possibility
that gold prices might go down instead of up.
Thank you Travis:
Except for Paulson who sold and reduced his GLD holding recently gold bulls such as Soros, Drukenmiller, Einhorn, “Vampire Squid” and especially my great contra-indicator Gartman has me concerned the run in gold may be in trouble. Rickards with $7000 and Sinclair with $50,000 an ounce target do not concern me for they are permabulls.
Personally, I trust none of these altruistic multi billionaires. While not saying they are wrong and are just talking their books as Icahn did with his AAPL holdings: I trust my charts first and charts have been saying Gold is not in long-term-uptrend, something I posted here weeks ago. Now, Charts are saying short term trend is in trouble for gold is rolling over …
I adjusted some yesterday and will do more as we go forward. I am not a gold permabull for gold charts are similar to other charts: I wager if chart-labels are removed 99% of gold investors cannot identify them as gold-charts.
‘In Charts I trust’ 🙂
Dear HN,
I cannot than you for the invaluable guidance you always provide. Being a newbie to all this it always helps to have someone who is willing to share a bit.
Wouldn’t it be better to wait until the BREXIT referendum (June 23) to see if Gold continues up or goes down?
As per past performance (eg. Scotland vote) most of the votes are rigged and/or the counting of the votes is. And given that Brussels a.k.a. the Troika in Europe, do not want BREXIT, chances are the outcome may be in their favor. If so, Euro may go up and Gold may go down.
Or am I reading it wrong? Please do correct me if I am.
Also, what do you think about Mutual Funds in Gold and precious metals? They may not go up spectacularly, but may not take nose dives either.
Thanks,
Jayne
I am not an in-and-out trader in gold related investments, so I am not inclined to wait for developments. I would rather just get positioned as soon as possible so that I am comfortable. The Brexit event I cannot predict what it would do for gold, I can see it being good for gold either way. And let me tell you, the Chinese just bought one of London’s largest gold storage vaults from Barclays, so THEY are not waiting around for developments when it comes to taking on a larger exposure to gold.
As far as gold funds,it depends a little bit on the reasons you are going into the gold space. As an investment, commodity speculation, or portfolio hedge there is nothing wrong with ETFs, although I prefer to do my own picks. But they are not what you want as disaster insurance or as a substitute for physical bullion.
Dear HN,
I appreciate your viewpoint. Certainly makes me have second thoughts…which is the exact purpose of this forum!
I agree about the Mongolian Stock. That country is uber rich in raw minerals and metals. While it has had explosive growth in the past decade, I do think it still has a huge potential.
Thank you,
J
Now that we have this microblog as another microblog concerning mining/precious metals, I’ll post this response here as well as on “A Major Turning Point on the Horizon? Myron Martin, Junior Mining Columnist, Returns with some gold mining ideas”>
The response is for questions that Pozoblue had asked about holding physical gold and silver.
<
Weird! Using those << >> characters to enclose quoted words, caused the whole enclosure to disappear. I will repeat.
Pozoblue – Here’s what my resident gold bug has given me to pass on to you, and I quote:
“Response to Comments:
First off you need to determine the reason & purpose you are obtaining precious metals. If you are transferring substantial dollar amounts, gold is a preferable metal as large value can be held or transported with a relatively small volume of metal. However, large value stored in a gold bar is not as simple to convert to necessities. You need to have a recognized bar from a known company with the weight and fineness stamped on the bar; otherwise you will need to have it assayed to determine value. Englehard, Handy and Harmon, Credit Suize, Johnson Mathey, Apmex produce and sell bars. You should check more than one for the markup over the spot price to get the best buy.
If you wish to have something with a lot of value but easier to negotiate when you need it, stick with the gold coins such as Eagles, Maple Leafs, Krugerrands which have an ounce of gold each. You can find price of each of these listed daily. However, keep in mind that these are still a large store of value in the thousand-plus dollar range and are not going to be much good if you are trying to buy a loaf of bread and some milk, etc.
If your purpose is to have a store of value that you can use in an extreme emergency of some kind, you need something that is negotiable for barter in the range of value that you need. Silver coins are in a price range that is useful for exchanging for items that you are likely to need under such circumstances, i.e., in the twenty dollar range. Keep in mind that a lot of silver coins weighs a lot for the total value contained.
You can buy silver coins from several sources; however stick to the known coinages such as silver eagles, or junk US coinage, or rounds with stated weight and content, i.e., 1 ounce silver. As always, check the amount quoted on a given day for the markup above the current spot price and pick the best deal. I have used USA Gold (who you can find online), Modern Coin Mart (on Ebay) who have provide me with honest transactions. There are others out there. You might be able to find a local coin dealer that you can work with.
Keep in mind that you need to have verifiable funds before a dealer is going to send you metal in exchange for your credit card, debit card, check, etc., purchase, so expect some delay prior to receiving your coins while your funds clear (say commonly 10 business days prior to shipping). Buying more coins at one time will usually buy you a smaller markup over spot and save on shipping charges.
Stick with bullion coins for the emergency stash. You are not going to get any premium for proof & numismatic premium coins if you are bartering for food, gas, etc. However, numismatic coins can carry significant value above their metal content and may have some protection against a government confiscation. Keep in mind that grade (condition) of the coin will make a significant impact on value. The difference of even a subtle grade difference, say between a proof 69 or proof 70, could double the value.
If you think that the world is likely to stay in some semblance of order, given time those numismatic high value coins can be a good investment as well as being fun & interesting.
You need to work with a profession numismatist or firm that is very reliable if you are purchasing high value coins. Ask for recommendations prior to selecting a firm you want to deal with. Like large value gold bars, high value numismatic coins will take time to negotiate a sale. If you pick an encapsulated coin that has been graded by a professional grading service, the grade issue will be minimized. Rely on expert assistance in this area of investing. I personally happen to like ancient Greek silver coins for their beauty & historical interest, but they are not going to do well in buying bread, meat, and gas in a crisis.
In summary, understand why you want to invest in precious metals and then pick an appropriate mix of things to purchase.
In answer to one of the questions about where do you store your coins, storing coins in a foreign country is not going to be of any value to you if you are trying to barter for food & gas. Keep those coins where you can get at them. Your best security is keeping private the knowledge of your purchases and where they’re stored; you do not want to become a target or victim of a robbery or violence to you or your family.
A major value of precious metals is that significant value can be stored in a relatively small volume and that is difficult for anyone including the government to know about unless you are being too public about your holdings. I personally don’t think that a government confiscation of gold is very likely as it would be difficult for the government to obtain very disseminated small amounts of precious metals (from the government’s view point) without a vast search & seizure effort. The last time the government did it under Roosevelt, the banks had a substantial amount of the gold coins that were in circulation making it easier; even then a large amount of privately held coins escaped the government confiscation and subsequent dollar devaluation.
The Perth Mint in Perth Western Australia is a very reliable source of coins, primarily of the numismatic variety. Currently the US dollar is high against the Australian dollar so purchasing from them directly reduces the cost of the premiums. They ship directly to the US & will take credit cards, Use a card that does not charge a foreign transaction fee to keep the cost down. You need to register with them for their bullion coin program, which may make their bullion coins considering shipping, etc., less attractive than buying US silver eagles from a dealer. You can go to their web site to find out details of their offerings. They make great coins. Side note: I worked at a mine in Australia that provided some of the precious metal for their coinage.
Do not forget that you can buy coins directly from the US mint at their website http://www.USmint.org; however, their bullion coins like the silver eagles must be purchased through a dealer.
Hope this helps
Globalsanta”
via Penny
Sorry for the confusion — using carets tells the browser that you’re trying to insert some html coding, so browsers assume that’s a command in code and don’t display the text contained within the carets. Parentheses ( ) or blocks [ ] should display just fine if you want to use those in the future.
Thanks Travis. I’ll know better next time.
Cheers – Penny
MARIANA RESOURCES announces drill assays from Hot Maden
http://www.msn.com/en-us/money/other/mariana-resources-ltd-further-high-grade-intercepts-from-resource-extension-and-exploration-drilling-at-the-hot-maden-gold-copper-project/ar-BBtm66U
The results seem so-so to me, a little disappointing even. I don’t get the feeling they will energize the stock. These results will be incorporated in a new resource estimate due next month. Surprise, they hit zinc, which was not in their previous economic assessment. Not sure if this is significant, or not.
However I am staying a bulked up on MRLDF until the results are announced on the Chilean deposit at the Dona Ines project. If these drill results are not off-the-charts
I will cut back my position to something reasonable. Remember Mariana is 30% owner of the Hot Maden project but 100% owner of the Dona Ines project.
Here’s a ‘big picture overview’ of Hot Maden. Probably worth a quick read.
http://www.proactiveinvestors.co.uk/companies/news/120857/mariana-resources-plans-a-very-active-start-to-2016-120857.html
Thanks frahman. The article is from December 2015 but mostly still accurate.
Have been trying to dig out insider data on Mariana, with little joy. There don’t seem to be any insiders buying or selling over the last couple of years. But at least it looks like some of the directors do have significant skin in the game :-
http://insiders.morningstar.com/trading/insider-activity.action?t=MARL®ion=gbr&culture=en-US
The ‘Holding Summary’ tab at the bottom of that page shows these holdings:
Mr Horsburgh (Chairman) owns 0.72% worth (GBP?)26M
Mr Roth (Director) owns 0.57% worth (GBP?)21M
Mr Parsons (CEO) owns 0.28% worth (GBP?)10M
I’ve learned the hard way to be wary of companies where management are merely salary junkies.
$MRLDF…The largest shareholder is Sandstorm Gold at 7.56%.
On the Dona Ines deposit, if it worth a lot there will be an immediate 50% dilution in favor of the driller, who has the right to 50% of the deposit in exchange for putting up the 1.6 million in cash to do the drilling. But if it worth a couple of billion dollars it won’t matter very much, since Mariana has a market cap of only $40 or 60 million depending on whether the stock is selling at 4 cents or 6 cents.
$MRLDF…long…Hole 52, Where are you ?
Hmm…looking at the drill plan for which assays were announced today, I noticed a note that said “assay pending” for drill hole 52. This test hole was aimed at a lengthy potential extension of the main copper/gold deposit. So it is unknown at this point whether there is going to be a big-time extension of the resources based on these results, or not.
Nothing to do but stay tuned. And I want to see what happens in Chile anyway.
There is a very large amount of zinc in the Hot Maden deposit. One of the drill results just returned an intercept that was 7% zinc, and the copper/gold core seems to be surrounded by high zinc formations. Not sure of the ultimate implications for the economics of the project but the involvement of the Turkish muscle guy is likely to be a help in this regard, if the zinc content is economically viable.
Physical gold and silver…peace of mind from investments…
Hi everyone. I would like to tell you some anecdotal and personal experiences relating to physical gold and silver holdings.
I have some physical gold and silver holdings in non-numismatic coins and straight bullion. I do not look at these holdings as an investment, I look at them as disaster insurance. I sincerely hope I NEVER have to sell them. If I do, it means a lot of bad stuff has happened.
Surprisingly, once I took possession, I ceased caring about gold and silver prices in relation to my physical holdings. I just felt more secure having the physical, knowing that whatever else happened out there, those coins and bars were still going to be worth something.
The irony of the situation was that the stocks and bonds are there to give us security and peace of mind. So if they are not giving us peace of mind, something is really wrong.
It is interesting that a relatively small amount of physical gold and silver provided me what larger amounts of paper securities did not.
What the proper amount of physical gold and silver is for any individual, so that the individual feels secure with it, is such a unique and personal amount, that I don’t think one can generalize about it. It depends on the individual.
Now as investments, my inclination to hard assets has evolved over the last three years.
I now have investments in gold-and-silver related instruments that are much greater financially than my physical holdings. Obviously I am bullish on these investments, but I do not have a particular or specific “doomsday” outcome in mind. I only believe, quite strongly, that economic, political and social developments make it likely that there will be an eventual and dramatic increase in the price of gold and silver; and I think this outcome is at least as good a bet as any other that can be made in the stock and bond universe. And I admit the possibility that I might be completely mistaken in this assessment.
The majority of my paper investments will be hugely profitable with reasonable increases in the underlying commodities. I refer here to conventional miners and royalty companies. What has changed for me recently is the perception of risk in the “speculative” plays, the “optionality” small caps and explorers. I was quite content to sit there with RGLD and ABX and NEM, until I understood what Rick Rule was driving at
with the “optionality” concept. So I went from being a big fan of the big cap miners,
to being surprisingly open-minded to making investments penny stock miners
with deposits in Congo, Chile, Peru, Mongolia, and Turkey. Especially ones Sandstorm Gold has found interesting enough to do deals with.
Now it remains to be seen whether this strategy will be profitable or not. But I feel a lot more comfortable with Mariana Resources at 4.5 cents, or Ivanhoe Mines at 65 cents,
or SAND at 3.95, than I do with AAPL at $95, or the SPX, or a government bond.
$MRLDF…drill results…besides hole HTD-52, there are two other drill holes
for which assays are not yet reported. These are HTD-51 and HTD-53.
I find this peculiar in that HTD-52 can substantially increase the depth of the main deposit; and HTD-51 and HTD-53 are in a new zone, well to the south of the known resource area, so significant findings there might materially increase the size of the inferred resource.
I can’t believe I am looking at this stuff. But here I am, looking at hole locations, drill results and underground geology schemes for a mountain in eastern Turkey.
Thx Hendrixnuzzles for all your insight and digging into these resource companies. Thx to others as well for contributing. I am long a lot of the same stocks you are and holding tight. If there is weakness coming I will add to my holdings even though I am probably overweight this sector, but from what I am observing around the world I could be light, it’s a mess so I do feel comfortable holding what I hold. I hold a lot of the picks from doc as well in biotech, down massive on most positions – hoping the gold/silver sector make this up, time will tell but my bet is it will.
Thx again to all contributors, very informative just wish I could contribute more!
HN, just don’t forget that it is in Turkey, and that Turkey’s leader is becoming more and more dictatorial with a radical bent to him; Some believe he is wanting to be the next Caliph… There is high political risk to any commodity investing here -the situation reminds me a little of Venezuela.
https://www.armstrongeconomics.com/armstrongeconomics101/understanding-cycles/confused-when-will-this-end/
Here is a paragraph from his analysis (which always looks at all trends and global money flows)…
“As far as gold, 2016 would complete 5 years down from the intraday high in 2011. Unfortunately, there is a split with the highest closing being 2012. That means the 5 year bear market correction may not end until next year. There can still be a dramatic swing that wipes out every one dropping to new lows and then wildly breaking out to new highs leaving the bulk of the people confused and constantly trying to sell the rally, which provides the fuel to rise further. That is exactly what is unfolding in the US share market. You have countless people calling for a 80-90% drop arguing the market is too “rich” at this level, but they are not looking at the alternative. Bonds?”
Long gold and some gold stocks, with plans to add if we see terrifying lows.
Hi Sharon, we have the same prescription eyeglasses. Looking at the news flashes this morning, I am struck by the number of negatives, stock downgrades, and bearish stock calls at major brokerage and analyst organizations. I wonder where people are going to park the cash from unweighting all their stock picks !
Also the stock market seems to be reacting to “good news” on housing…new homes UP 16% year over year in April. But this is just the kind of news that should justify the Fed raising interest rates. A 16% increase is clearly a result of the artifically low Fed funds rate,as the real estate bubble proceeds apace.
Dear Sharon and HN,
Currently the US Dollar Index has a big Bullish indicator. It kinda supports Armstrong’s view of a bullish dollar in the near future.
Though, after a few years with loss of confidence in govt. it will then fall.
But for now, it seems to be riding the bull. While dollar and gold usually have an inverse relationship, it is not always true, of course. During Phase Transition time (according to Armstrong) we do see that Gold and Dollar go hand-in-hand. But from what I understand, that transition time is a bit off. Will likely begin early 2017.
In the meantime, with the dollar on the upswing, it does look like Gold is going to have a hard fall, likely going below $1000.
I am long gold for the long term, but, like Sharon, may buy more when the prices fall. Just today there has been a considerable fall in the price.
Jayne
Gold trends long-term…an interesting idea I read about long term gold price trends was that the peak five years ago was a mega “wave 1” Elliott Wave impulse wave that started from under $300 and topped out over $1800, and that the five-year retracement to the sub-$1100 level in January 2016 was the end of a retracement “corrective” wave 2.
According to this viewpoint, recent months have witnessed the bottom of major correction (in January 2016) from the 2011 highs and are now in a “phase 3” impulse wave up.
I do not agree or disagree with this theory. I do believe we are in a gold bull market.
Whether it continues within the parameters suggested by Elliott Wave ,Fibonacci sequences,technical analysis, fundamental analysis, James Rickards, or anyone else, remains to be seen.
SURGE IN Medical and diagnostics sector to drive Gold Nanoparticles Market Growth
#mrx #nanotechnology via Global Market Inc @GMI_US https://gminsights.wordpress.com/2016/05/22/gold-nanoparticles-market/
“Sell and get out of stocks & buy gold” volunteer the Gurus on TV and the web as would be ‘future-money-managers and newsletter-writers on SA and elsewhere call for imminent collapse of our economy. LOL! I laugh not because I know the correct path to the future but because these people think I am as stupid as they want me to be and buy into their pontification.
Confused, inundated, overworked, and with anxiety I call the Charts Family for help! Here is what they just told me!
“All major indices are in up trend. S&P500 sectors are in uptrend—except for Consumer Discretionary and Utilities going sideways. USD is making higher high on daily and just touched its down channel bullishly. Gold is struggling and has fallen below 50sma—and the FED is pleased!”
‘In Charts I Trust’
Gold optionality plays…with the recent pullback in gold and silver prices, I was naturally concerned about my recent investments in “ultra risky” metals explorers, the micro-caps with no production but upside based on resources-in-the-ground.
It is a little early to generalize, but Interestingly enough the downward volatility is reduced compared to the conventional producers. There is some downward pressure but overall there is not a sharp reaction. In fact today MRLDF is actually UP.
Anxiously awaiting news from MRLDF on drill holes HTD-51, 52, and 53, and the Chilean Dona Ines drilling program.
One notable exception was Erdene Resource Development ERDCF, they of the Mongolian Oyu Tolghoi expansion. The stock was off sharply from 35 cents to 30 cents.
I have entered a few stink bids at 27 and 28 cents, will be happy to start a position
7 or 8 cents above Sandstorm gold’s 5 million shares.
$ERDCF….Optionality plays…Bought a few thousand Erdene Resource Development between 27 and 29 cents. This was at a sharp discount to the 35 cent price
as of the last few days. We’ll see what happens.
I have made a few adjustments to my optionality grade methodology, the HOG.
The number values came out a little different but there were no major changes in the relative attractiveness of the tickers for which I have run the numbers.
The key takeaway for me is that there are five stocks which have superior HOG values, from the standpoint of optionality only. Those five are LYDIF, NULGF, BALMF, SA, and MDRPF. I am long all except MDRPF, which I may add on weakness.
The HOG on MRLDF has gone down slightly because it has increased in price from a very low base (4-5 cents to 5-6 cents). However I am comfortable with the speculation on MRLDF on account of the anticipated news on drilling, detailed previously, which I believe will add substantially to the company’s asset base.
Here is a very informative and informal piece where you get a real insider’s view of the corporate goals and philosophy for a mining company. With crowd input from a Banker, a Broker, an institutional investor and more. Also some really good advice on what to ask and look for when considering investing in these types of companies. It is 45 min. long so take a look at it when you have some leisure time to be sure and take it all in, the insights are worth the time
https://www.youtube.com/watch?v=VKY1ypCgQQY&feature=youtu.be
Published on May 18, 2016
Brent Cook interviews Eira Thomas of Kaminak, Scott Trebilcock of Nevsun, and Peter Tallman of Klondike Gold. They discuss a number of topics between themselves and the audience, including what to look for in a potential project and what drew them to their current companies.
Thanks ksand, I just watched this and liked it very much.
$MRLDF…long Mariana Resources…something is up. No news yet….but the stock has been rising on large volume in the face of a horrible day on underlying gold and silver prices. The charts are all bullish and accelerating. I am not the only one liking this stock.
Hi hendrix, since you don’t have a lot to do I thought you might want to check this out. There is a youtube channel…CEO.CA… Thought this was interesting. He interviews the CEO Ian Stalker of …www.k92mining.com….this mine is in New Guinea. Barrick sold this to them I think he said 2008. He looks for them to become a mid tier company, haven’t been to their site yet, will when I have time. Maybe frahman will weigh in on this too. I appreciate all of the brain power on this thread. By the way…when I went directly to stock gumshoe I could never find this thread. Searched your name and also thread name, the only way I found it was to go to an old email I had saved. Is there a listing of all the different threads anywhere that I am missing?
Not a great day today with miners. Maybe a bit of $DUST might be in order if gold tumbles to $1000!!
It was ugly. The bull run started January 19 with gold around 1080. So the run up was about $225. A 50% correction would go to 1200 or so, a 2/3 correction to
$1150. Lower than that we’ll declare the bull run is dead, close the thread, and take cyanide.
You better NOT HN….it’s only $ in an unreal game. NOT reality imho, – Ben
Nah. Armstrong has been predicting a correction that could go below 1000, and then expects the fearful to sell, only to be surprised by the sling shot move to the upside. These moves may elongate, and he thought gold was proving to be stronger than he thought, so couldn’t be sure of the down move, but he has never wavered on the conviction that gold will see a bull market well above today’s levels (he thinks around 5000). It will be the sharp correction that fuels the sling shot upwards.
So….hang on, just like we are doing in biotech.
Unless you expect the governments of the world to get wisdom, stop their socialistic practices, dial back taxes and regulations, stop their free-for-all immigration, and actually act in ways to decrease their debt to GDP ratios, etc, etc, then the Gold market will have its bull run, and this past little blip that put gold to just above the cost of production was not that run. Gold will have its day, its just probably not going to happen this year. I plan to hold what I have and add at low levels. 🙂 Bring it on.
I’m really not too worried, although I admit I was surprised even by the move back under $1250. I think there will be a lot of dollars looking to go somewhere and a Dutch auction on gold will bring in plenty of bids above $1200.
You are hilarious! You know we are in this for the long haul, we were fortunate to buy in at decent prices, so I just comfort myself with that fact and count my blessings.
Something has snapped in my brain. When I see lower prices on gold and silver stocks, instead of getting bad feelings about my positions and portfolio like I would with normal stocks, , I get a frantic urge to buy more and look for the biggest drops on the best tickers.
$MRLDF…drama and mystery building. Mariana has said assays are due this month from the Dona Ines project in Chile, and the key assays from Hot Maden drillholes in Turkey are still not published. Only 4 business days left in May, and MRLDF price is going up steadily. Yesterday it was up on seven times normal volume while the rest of the gold stocks were tanking.
Long MRLDF
$CDLN deep, Liberty…@krjcardinal have you heard of the Hay mountain copper mine in Arizona, Liberty Star Uranium is on the verge of starting. CONT Corona de Tucson, AZ
@krjcardinal preliminary drilling, and when I asked the CEO James Briscoe about his plans for the waste water after CONT
@krjcardinal he didn’t seem to have a plan for the it. I can get you his number if you would like, I must warn you, he can talk for hours.
Steal_Wheat34 @Steal_Wheat34
Kevin Jones – CDNL @krjcardinal
@Steal_Wheat34 that would be great and I’ll do some research as well on the project
$MRLDF…long…more of the same this morning. No announcement but volume is very large, price is creeping up, and charts looking better and better.
I am not an in-and-out trader but in this case my position was very large for a speculation, so if there is a decisive breakout by May 31 on news I may sell off a little.
HN: Just watched a tube from Brent Cook, Investor Insights, well known Canadian geologist, well connected speaking the the forum held in Vancouver BC in February, 2016 at (the Pan Pacific Hotel – google it if u r not familiar, built for expo and on the ocean). Brent describes good geology and a bit on how a Co. writes up what is found and it may not be that good. I that it was one of the best talks I’ve heard from him…but I’m a light weight. Each time any of my ( deeply in the red gold stocks has hit a green, I’ve sold it)…..waiting for $1,000 gold haha. Anyway….hope u find it useful. You contribute so much!! cheers Lulu
Brent Cook : Now is the time to be acquiring mining companies…Feb 2016 tube..
ADVANCE NOTICE…thoughts for a new thread…as we get closer to the announcement by Mariana Resources, due in May, it occurs to me that May 1 might be a great break point to start a new thread to continue this conversation. It will not only be a
good punctuation point with news, but it looks like it will also have a chance of being at a critical point in the recent gold price retracement.
I’ve had a great time on this thread and it has been very gratifying that so many of you have been interested. I make a special call-out of gratitude to frahman, who has made many important and worthwhile contributions, especially with his great finds of videos that have provided major constructive inputs to the subject at hand, and in my case have
led to specific, actionable, and profitable investment ideas.
It seems that frahman is miffed lately about my management of the thread as it relates to shepherding the conversation away from going too deeply into extraneous and controversial material. I suspect our politics are quite opposite, maybe irreconcilable; but sincerely hope he will return with more of his outstanding ideas and contributions on asset investments, and I state publicly my thanks to him for the great posts, my apology for any offence given, and my hope for his constructive and prompt return to the thread.
So, I will wait for an announcement from Mariana Resources, then I will do a post-mortem on it and open a new thread.