Gold and silver prices are down

Varmint said:
Discovery Silver is up another 50% since I posted this and has tripled since Dec 19.
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Honestly I would not be surprised if Discovery becomes another Kirkland Lake or Agnico Eagle. If it manifests into an open pit mine with silver at $50 and above that would be a crazy arbitrage to the silver price.
 
DJBrad said:
Honestly I would not be surprised if Discovery becomes another Kirkland Lake or Agnico Eagle. If it manifests into an open pit mine with silver at $50 and above that would be a crazy arbitrage to the silver price.
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I don’t know if their silver deposit is getting assigned much value since Mexico isn’t giving any open pit permits. I think it’s all their gold acquisition from Newmont. If that permit status changes the stock will explode.

I’m trying to take some profits in miners today for when the rally fizzles. Sold K92 Mining.
 
I just looked at my APMEX account info (the holdings section - what I have here), I’ll quote Grady from Tremors 2 “I feel lightheaded Earl”.

Not that I’d ever sell it - strictly TEOTWAWKI/SHTF/WROL. By the way things are going, maybe next month 🤣

BTW:
Not blaming Trump, this has been building for decades - it’s just a question does Trump do what we always do ( paper over it) or actually fix it = more pain (which is due & well deserved)
 
Varmint said:
I don’t know if their silver deposit is getting assigned much value since Mexico isn’t giving any open pit permits. I think it’s all their gold acquisition from Newmont. If that permit status changes the stock will explode.

I’m trying to take some profits in miners today for when the rally fizzles. Sold K92 Mining.
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Didn’t they already have a permit?
 
Reptile said:
Gold just hit $3,000.00

Silver hit $34
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Interesting as the futures contract is now in backwardation. Futures only hit $2996 around 12:40p while Spot hit $3000. Good times for precious metals investors.

The breakaway of Gold from the Equity markets is another strong sign of this long bull market which could stretch to another 10+ years.
 
DJBrad said:
Didn’t they already have a permit?
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Yeah K92 are in production, I’m just not a big fan, and I’m selling to free up some cash if we go back down.

Did you mean Discovery? They’re waiting on an open pit permit, but have a producing gold mine they just bought from Newmont.
 
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DJBrad said:
Closed the day on spot above $3000. Nice 😊
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DJBrad said:
Interesting as the futures contract is now in backwardation. Futures only hit $2996 around 12:40p while Spot hit $3000. Good times for precious metals investors.

The breakaway of Gold from the Equity markets is another strong sign of this long bull market which could stretch to another 10+ years.
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I don’t see that high a spot price, where do you see that?

Gold to S&p500 is breaking out.
 
Varmint said:
You’re not the only one, and I noticed JMBullion does the same thing.
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Not only do they show a higher spot price they also sell at the higher spot price. I won't do business with any company that is not tracking to the kitco spot price. Just load the kitco gold live app on your phone to track current spot. Steve literally posted the app while I was writing this!
 
Varmint said:
I want to sell more gold miners to free up cash cause I think the rally will fizzle, but naturally the stuff I want to sell doesn’t move up much. Hopefully I’m wrong and we’ll close the week above $3000 and $35.
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I was hoping we would close the week above those levels but the reflex rally seems to have taken the boost off the PM rally.
 
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