4036 replies to this topic

[senorBS]

just added another 3-4% in miners, now about 25% long, as always DYODD

 

Senor

[cafeflorida]

What kind of track record do these carbon units over at Goldman Sachs have?

 

Kitco News

https://www.kitco.co...e-forecast.html

Goldman Sachs raises its gold price forecast
Rajan Dhall Wednesday June 29, 2022 05:42

(Kitco News) - U.S. investment bank Goldman Sachs has recently raised its year-end 2022.
The gold price target is now $2500/oz, signaling a strong 2022 after gold prices ended 2021 down approximately 4%.

[dharma]

lets see russia was sanctioned on exporting oil =  oil price rises 

russias gold exports has been sanctioned = will it lead to gold price rising. 

we have genius at the helm of our economic policies. 

 

dharma

[gannman]

here is my take on gld that spike up this morning was minor wave iv of this last leg down in gld 

 

so if and when gld takes out 171 that should be game on. thats the way i see it 

[senorBS]

just added another 3-4% in miners, now about 25% long, as always DYODD

 

Senor

added another couple percent, now about 27% long

 

Senor

[senorBS]

feels to me there has been some serious end of qtr miner selling, miner/gold ratios are at new low from 2020 high and extremely oversold and to me look like near term and perhaps int term "ending" action. As always DYODD

 

Senor

[linrom1]

feels to me there has been some serious end of qtr miner selling, miner/gold ratios are at new low from 2020 high and extremely oversold and to me look like near term and perhaps int term "ending" action. As always DYODD

 

Senor

Junior miners at cheap prices is a no brainier. They own all the mines, mineral rights, explorations and don't have to do anything until prices rise.

[dharma]

normally on a decline, it results in capitulation,  which is big volume and the baby getting thrown out w/the bathwater

in this market right here , volume is drying. up.  either volume picks up and there is capitulation or this decline is running out of steam

dharma

[Russ]

russ , everyone in this biz, if they are honest, has losses. everyone

we are having what i think is capitulation in the miners.   keep in mind that it is now more expensive to be a miner. energy costs are rising in all business. mining is no exception.  so to a certain extent miners are being revalued due to rising costs.  the game doesnt really start till the fed pivots. i am guessing september. 

dharma

Yes Dharma no one is infallible , the markets have the last laugh. Even da_cheif is not perfect though he pretends to be.  

Fuel costs driving inflation are going to kill the economy and bankrupt the already dying middle class, we are headed for chaos. 

 

Martin Armstrong:  The cost of shipping has added another variable to the complicated global inflation and energy crisis. According to the Baltic Exchange data as reported by Bloomberg, hauling rates have reached a high not seen since April 2020.

The TC-5 passage commonly used to transport fuel from the Middle East to Japan cost around $61 per day in February. That same voyage costs an alarming $50,000 per day. Shipping costs from the US to Brazil on route TC-18 spiked from $3,800 per day in February to a high of $37,000 daily. The world is reliant on these fuels, and demand is expected to rise 6% this year alone.

Europe shot itself in the foot by eliminating its usage of Russian oil. The US and Canada similarly created their own energy crises by becoming reliant on fuel imports. A tax holiday or similar temporary bandage will not help the ongoing crisis that will certainly last beyond the Russia-Ukraine [and West’s proxy] war.

 

 https://www.armstron...ing-costs-soar/

Edited by Russ, 29 June 2022 - 03:51 PM.

[dougie]

Monthly and weekly momo on Gold not looking real great as June comes to an end...

 

But maybe bulls can pull of a miracle...they need to, because massive drops ahead if they do not...

 

GLD still looks terrible on all time frames...hourly and 2 hour now in full rollover mode, with 3, 4 hour not far behind...

 

And CRB now looking very toppy intermediate term with what looks to be long tailed bearish engulfing on monthly chart, after daily momo  went completely south on the final struggle to that tail high...

 

In any event, until charts DO improve, be real careful out there...

good calls and thank you for your generous sharing