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Loading ...It’s about time! How patient are we? I’m ready for some payoff.
No catfood for me.
Usually any technical breakout in the metals gets absolutely crushed.
What the heck is going on? I’m not used to all this winning! ?
Here’s a thought, last time gold was here, HUI was 600. We’re just above 300 now.
When will the momentum players show up and take charge?
BTW – where is Maddog??
How refreshing. We all knew we were right from the start, and those Bozo Bankers are finally getting what they deserve. Quote: “If you don’t face reality it will kick you in the shins” They are getting kicked in the shins.
In my view in 9/11 the globalists got their car key scratched, and that what started the bankers demise. Forced dropping rates, foreclosures, people living free in houses while banks pay the property taxes in insurance.
Gold going up is like big uncontrolled bank withdrawals a swift kick in their stupid balls.
part: First Majestic Silver Corp. AG recently concluded the previously announced acquisition of a silver stream on 50% of the payable silver produced from First Mining’s Springpole Gold Project. First Majestic will pay a total consideration of $22.5 million, through cash and stocks in three phases, covering the life of the project. The silver stream purchase agreement enhances First Majestic’s silver exposure and provides significant upside potential to higher silver prices, while reducing risks and costs.
The company has made the first payment consisting of $2.5 million in cash and $7.5 million in its shares to First Mining. For all payable silver delivered by Springpole, First Majestic will make cash payments of 33% of the silver spot price per ounce, subject to a maximum of $7.50 per ounce.
Based in Ontario, Canada, Springpole is one of largest undeveloped gold projects covering 41,943 hectares. The project contains NI 43-101 compliant resources of 24.19 million ounces of silver in the Indicated category and 1.12 million ounces of silver in the Inferred category, plus 4.67 million ounces of gold in the Indicated category and 0.23 million ounces of gold in the Inferred category. According to the Preliminary Economic Assessment (PEA) in 2019, average silver production from Springpole is estimated to reach 2.4 million ounces per year. A total of 22 million silver ounces is expected to be produced during the life of the project — 50% of which would be purchased by First Majestic.
First Mining Gold, looks good too, added to my watch lists:
https://finance.yahoo.com/quote/FFMGF?p=FFMGF
Are We Happy? Or What? We seem to be locked in gear.
A Potential Crisis In Comex Gold
snip
Conclusion
Bullion banks are between a rock and a hard place. For years they’ve been playing the hedge funds as an angler hooks and plays a fish. That game has ceased and there is no easy way for them to get level. For the moment they are trying to put a lid on the price, but the cost has been rising open interest, and therefore rising mark-to-market positions.
The August active contract runs off the board at the end of this month and bullion banks are likely to be forced into large delivery volumes again. Furthermore, the exchange for delivery arbitrage facility between Comex and the LBMA is broken, allowing Comex premiums to London spot to go unchallenged.
It is increasingly possible the gold contract is evolving into deep crisis, and that force majeure might have to be declared if, as seems increasingly inevitable, a wider banking crisis ensues.
https://www.zerohedge.com/commodities/potential-crisis-comex-gold
Shootings in Mayor Bill de Blasio’s New York City were three times higher last week than they were during that same week in 2019.
An outbreak of the deadly and highly transmissible bubonic plague in China is being “well managed” by Beijing and is really no cause for alarm, the World Health Organization (W.H.O.) said Tuesday.
Gold miners carving out a series of classic bullish chart patterns. Up 100% since March #gold #silver #preciousmetals #GDX #GDXJ #HUI #commodities #business #finance #fintwit #stocks #stockstowatch #stockstowatch #stocks pic.twitter.com/BawcF8Pb3r
— Northstar (@NorthstarCharts) July 8, 2020
up early on heavy volume. not quite as frenzied as the last couple days, but steady moving up.
“onward, into the fog!”
…oat willie
Turkish Forces Lick Wounds After Airstrikes Hit Their Base In Libya
Love to see that spot gold over $1800! Makes me feel all warm and fuzzy.
In normal T/A, I think this would be bullish as all get out for SLV
https://stockcharts.com/h-sc/ui?s=SLV
OTOH – GLD just has a strong, steady ascent and still not overbought.
Spot gold $1803, Silver around $18.50
In days past I’d be worried about a blowoff top/slam coming but I dunno now.
Maybe we get slammed, maybe we keep going….USD is going nowhere fast.
Mr. Copper brought up a good point about gold and the USD, last time we were at $1800 USD index was 80, now it just under 97.
What will gold be when it hits 80 again? $2500?