Loading ...Hongcha
NO. We are at all-in costs but that will be busted to mine the rich vein of stop losses and to set up bankruptcies so the cartels can swoop in and buy assets for pennies on the dollar. And the mines will not stop mining if the spot stays below costs. The mines will need the cash flow and will operate at a loss rather than shutter operations – setting up no shortage of inventory – which a lot of PM bulls are counting on to self-regulate the spot price.
PM is a dead market at this time. I will look again at silver at ~ $12, and gold ~$1050.