For most of the past few years it was easy to make the case that precious metals mining stocks were cheap. They’d suffered through an epic bear market, and in some cases were down 90% or more from their 2011 highs. How much more could they fall? But through it all, Sprott Asset Management’s Rick […]
This Is What Gold Does In A Currency Crisis, British Edition
It appears that Great Britain might actually do the until-recently-unthinkable, and leave the European Union. The reasons for this dramatic break-up are many, and can be Googled easily enough. For our purposes, suffice to say that traders are scrambling to figure out what this means for the British pound, and they’re not liking the answers. […]
Reversal Of Fortunes: Capital Pours Out Of Banks And Into Gold
For banks, the recent news is pretty grim. But it’s about to get much worse, based on the following: Yield Curve Flattens: Now 10-Year Yields Just 1% More than 2-Year (Barrons) – Ye olde yield curve keeps getting flatter. Wednesday continued the trend — which is most pronounced between two and 10-year maturities. At 2:30 […]
Huge Miner Bankruptcies Possible Soon; Great News For Gold And Silver, Bad News For Streaming Companies?
The commodities bust may be about to claim some brand-name victims: Freeport-McMoRan Inc: The Hits Just Keep Coming Freeport-McMoRan (NYSE:FCX) is off to a brutal start in 2016 with its stock price down nearly 40% in just over a week. The company is being battered by a barrage of negative news items, with the latest […]
This Is What Gold Does In A Currency Crisis, China Edition
As China’s leaders figure out that pegging the yuan to the dollar while quintupling their debt in five years was a colossal mistake, they are, apparently, concluding that the only way out is a sudden, sharp currency devaluation. See Pressure on China central bank for bigger yuan depreciation. Chinese citizens, meanwhile, are anxiously awaiting tomorrow’s […]
This Is What Gold Does In A Currency Crisis, Canadian Edition
Along with the currencies of most other commodity-exporting countries, the Canadian dollar has been in near-freefall lately. Gold, meanwhile, has been sucked down with the rest of the commodities complex, falling hard since 2013. But only in US dollars. For Canadians, with their weak domestic currency, gold has been behaving just fine. It’s up 17% […]
Precious Metals Starting To Produce Some Winners
Everybody who’s owned gold and silver mining shares through a couple of cycles has their favorite story of the stock that took off and ran away. There was Glamis Gold, which rose from $1 to $40 in the space of a few years before selling out to Goldcorp. And Silver Wheaton, which soared from $3.45 […]
The Most Interesting Story In Gold
Or: Gold Miners’ Doom Is Streaming Companies’ Boom. The gold and silver miners are in crisis, as metal prices hover around break-even for many and capital dries up for most. Dozens of companies are one or two quarters away from running out of cash and closing down, and their executives are ready to deal. This […]
Are Collectible Coins The Best Way To Own Gold After All?
One of the most common pieces of advice in the gold-bug world is to get as much metal as possible for your money, which means buying bullion rather than rare (i.e., numismatic or collectible) coins. The latter weren’t confiscated in 1934, but — so goes this line of thinking — that’s not an issue this […]
Are Gold Investors Finally Capitulating?
Sprott Asset Management’s Rick Rule is one of the smartest guys in the resource investing world — and one of the most reasonable — which has made his interviews of the past few years a little disconcerting. Along with the obligatory positive thoughts on the long-term value of gold and silver and the resulting bright […]
What Would Happen If Mainstream Investors Discovered Gold?
China, India and Russia are accumulating a lot of gold, but they’re virtually alone. Traditional money managers, for a variety of reasons, view the metal as neither a viable investment (because it doesn’t pay interest) nor a substitute for cash (because they don’t understand monetary history). But what if they changed their minds? From Chapter […]
Who’s Next? China Finally Starts Snapping Up Gold Miners
One (perhaps the only) bright spot in the past few years’ gold market has been Chinese and Indian demand for the metal. Here’s a chart, courtesy of Ed Steer’s Gold & Silver Daily, showing that the two countries have imported a cumulative 15,000 tonnes since 2008, which is not far from the total production of […]
What Gold’s Bull Market (That’s Right, Bull Market) Means For Miners
One of the oddities of floating exchange rates is that they cause people to view the world in terms of their own national currency. For Americans that means looking out through a window that is distorted by the dollar’s recent surge. A C$100-a-night Vancouver BC hotel room, for instance, cost about US$100 in 2013 and […]
Suddenly, Not A Bad Environment For Gold Miners
A few years ago (when the world was very different) veteran mining analyst Jay Taylor told me something that seemed counterintuitive: Deflation can actually be a good thing for the gold and silver mining business — if the prices of mining inputs like oil fall faster than the price of precious metals. In other words, […]
Did Gold and Silver Just Get Their “Greenspan Put”?
The world’s central banks and derivatives traders have been having their usual fun with gold and silver lately, dumping huge volumes of futures contracts into thin markets to produce massive declines — just when precious metals SHOULD have been soaring in response to near-global debt monetization. But something interesting happened as this latest smack-down really […]
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