Loading ...So, NEM is carrying the ball and moving the HUI back toward the 265 area – which needs to break and get us a quick jump to 280. The good thing is that some of these other components are getting a little bit of a bid as well.
Unfortunately, they have the metals well contained, and it seems they’ve had to expend a fair amount of energy to do it. The problem is of course the same. We’re not going to see $3K anytime soon by moving $10 a day.
That being said, NEM is leading and so are the shares, just like back in the good old days. That gives me some hope that bigger moves may be on the way. The GDP report was screaming stagflation which should be the best scenario for our metals.
AGI’s earnings are puzzling, they met expectations but that’s not really a win. I’m wondering why they didn’t benefit from the higher metal prices. Anyone know if they hedge?
They’ve been a rising star but won’t continue to be if they’re hedging.