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Direct correlation with the price.
The good news is the price may be wagging the dog if we are lucky.
It would be better though if the ratio starts to rise and drags prices higher.
Tell that to the gamblers.
Could hold things back if the physical market does not tear the bankers a new one.
Wonder if they have any tricks left?
Chuckle
The HUI is a stallion! It just made a new high on this little pullback
HUI UP 13.70 OR 6.78%
https://finance.yahoo.com/quote/%5EHUI?ltr=1
That was an interesting story to me, because from before the virus, just the growing international populism was going to hurt (global) miners, I think we spoke about this a while back. But even if the mining stocks go down because if this, the metals themselves will go up from lack of supply re see/saw effect. So hopefully the resulting extremely higher prices will make the miners go up together with physical in unison. No see/saw effect. We’ll have to wait and see. Like Trump would say.
Mexico coming offline is a big deal especially for silver.
Funny, it’s not hurting the shares, I guess because they still have the assets in the ground while the price rises?
Hell, most of them are probably better off not doing any mining… 🙂
Great to see that the mkt is pricing in higher prices for the PM shares, in a shutdown……
The Mexican news could not be worse for the shorts….Crimex Silver and all the shorts are the biggest target the mkts have ever seen…all it takes is for buyers to demand delivery and the shorts have to cover, as they cannot deliver in any quantity……JPM must be crapping like a storm drain in a hurricane.
snip
The Mexican government this week declared the pandemic as a national health emergency and as a result is forcing all non-essential businesses to close up shop until at least April 30. Silver miners likely are considered non-essential. Some mining and exploration companies have already said they are halting operations.
According to data from the U.S. Geological Survey, in 2019, Mexico produced 6.3 thousand metric tons of silver, which represented about 23% of global mine supply. Statistics from the consultancy CPM Group put 2019 output at around 740 million ounces, of which 173 million were from Mexico.
“They are the largest silver-producing country by a wide margin,” said Jeff Christian, managing director of CPM Group. “So interruptions of silver-mine production from Mexico would hit the market.”
On top of this, Christian said, refinery production in Mexico and elsewhere is being curtailed, and the industry faces transportation issues. Much of the world’s precious metals are shipped by air freight due to their high value relative to their weight.
“You can’t even ship refined metal easily from country to country because the planes that normally carry that aren’t flying,” Christian said. “The whole precious-metals complex is being hit by supply and supply-chain disruptions. That is going to continue to be a problem and an issue. Mexico joining the lockdown just makes it that much worse.”
I am trying to ignore the “bull hook” today…[that would usually shake them out]
the dollar up .564…gold just broke out from its up $31 straight jacket—up $39 and a new high for the day…i’m not smug…the PPT could still try a slime job on gold today
I see the dollar has come down a bit….up.432
While working as a summer student laborer for a major chemical company . Another laborer and I were told to get onto the back of a company stake truck with hundred gallon drums of waste chemicals …esters ( the type of chemicals that give fruits their individual taste and odor ) by the smell of it . We left the plant ( which was on the banks of a river joining two of the Great Lakes) and went about a mile away into a wooded area owned by the company , beyond the local community . On that property was a fairly large pond which smelled so strongly it almost choked us , into which we dumped the barrels of chemical slop . The trouble was , the soil there was sand…ancient lake bed , so those chemicals slowly leached toward the community and beyond that to the waterway .
The plant is now shuttered , the community was evacuated and razed , and the local cancer rates ??? – probably astronomical .
The same summer there was a release of glycol to a ‘pad’ – a concrete flat square , maybe 20′ by 20′ , surrounded by a containment curb . That form of glycol (a component of antifreeze) is as black as tar , but with the consistency of water . The surface would ‘crinkle up’ when exposed to air , but a wave sent across it would turn smooth , Nasty stuff !
We were given scoop shovels to try to shovel it into a dumpster brought for that purpose . Ever try to shovel water ? It was about 10:30 am , and after watching us struggle for a few minutes the foreman of our foreman told us to break early for lunch and to return at 1 pm . We did , and on our return , the pad was empty . Apparently the pad drain was valved to release the contents into the river . There must have been dead fish for miles downstream .
Much of my career was in nuclear power . That sector is pristine in comparison to the chemical industry. But the waste , however miniscule , can be very long lived .
wait until they tell people coal mines are coming offline too. Enjoy power while it’s on. When you throw the switch and got nothin’, then you aint seen nothing yet! To quote that gold hummer moron
but here it is :
https://floridahealthcovid19.gov/ then click on the dashboard button .
Damn right! Crimex will be scurrying to find supply like the rats they are.
Chuckle 🙂
It’s what they should have been doing anyway to shut the a**hole bankers down. Even the Arabs figured out controlling supply was a good idea a la OPEC.
The bankers got them indebted so they had to produce to pay on the debt.
But right now that doesn’t matter.
Chuckle
do you have a source for that graph?? that looks promising.
Excellon Provides Update on Developments Related to COVID-19 Response
https://finance.yahoo.com/news/excellon-provides-developments-related-covid-130000392.html
Look at that article where the truck is being dumped. It’s a goodwill logo’d cab. Another reason not to give that rich moron items that he can resell while he floats in the Mediterranean on a 200 foot yacht. We have recycling and composting here in Denver. We effectively have downsized our waste stream by 90% in my household. I could get by with a trash pickup 4 times a year, not weekly as prescribed. I also compost myself, so really I just send landscape waste like weeds, branches, pine needles and pine cones.
Come to think of it DAD is right next to a nuke dump site, something that the army did to us. Another group of morons. Guess what the Americurium was so badly leaking from the site they had to hard pipe it to our sewage treatment plant. Next, we have the purple pipe system that reclaims every flush in Denver and brings the water back to a non-potable level where this nuke water is sprayed on our green spaces, parks and golf courses. Lots of pine trees have died from this and the city secretly cuts them down so people don’t notice. Too much salt not removed and you couldn’t find a better place to offload nuke water you know.
This nuke site is called the Lowry Landfill, read up it’s a beautiful effed up story: https://www.scribd.com/document/44105822/Dirty-Secrets-the-story-of-Lowry-Landfill
You see there are always stories within stories
even with the DOW futures going from up 400 to flat.
Seems to me the shares will respond well as long as silver stays strong today.
Hell, I don’t know.
Former Fed Governor on CNBS saying this bounce in the SM of the last week or so probably isn’t going to stick.
How low can she go?
I picked up these jewels-15,000-JNUG in last nites extended hrs trade–now I got a cushion and a stop set at 4.35…I’m not messing around…if it reverses this much, I’m out and will re-evaluate…btw the german dax is down 17, so I don’t know how long this stock rally will last…
FilledBuy45JNUGLimit4.26—-19:30:59 04/01/20
FilledBuy498JNUGLimit4.26—-19:30:59 04/01/20
FilledBuy3021JNUGLimit4.26—-19:30:59 04/01/20
FilledBuy600JNUGLimit4.26—-19:30:59 04/01/20
FilledBuy6915JNUGLimit4.26—-19:31:19 04/01/20
FilledBuy3007JNUGLimit4.26—-19:30:59 04/01/20
FilledBuy300JNUGLimit4.26—-19:30:59 04/01/20
FilledBuy600JNUGLimit4.26—-19:31:04 04/01/20
6.6 Million vs. Estimates of 3.1 Million
Craziness.
G & S continue inching higher.
EDIT: Nope, here come the sellers. Can’t have pm’s going up when the futures are starting to fall.
“Right now…today…I got the feeling that gold is READY to surprise the majority including the chartists…and their beautiful charts that indicate gold is about to go to SHEOL TACHTIT**…and all these cheap prices and option premiums will look like the greatest missed opportunity…could be tomorrow…or a few days…but no longer..”
Was that one of the shares they took from a 3 x’s ETF down to 2 x’s ETF like they did with NUGT and JNUG?
The