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— Luke Coffey (@LukeDCoffey) March 11, 2022
It’s the Moron Show
Re Crazy High and Low Prices Are Related to the News and Emotions
At the Futures Market. Look at the heating oil chart. Production and consumption is generally stable and normal. I haven’t heard of any real supply shortage of physical oil.
More likely just a shortage or glut of buy and sell futures contracts. It’s like the news drives the “bets” on greed or fear to “vote” what the future price on a product priced in dollars might be in the future. Like cold weather coming to Fla might kill orange production and orange juice contracts prices go up, and the weather didn’t get there yet. Even the fake dollar value is voted on like a product and the government owns and produces “news”.
Rupert Resources reports exercise of warrants by Agnico Eagle Mines for net proceeds of $11.5 million
McEwen Mining Provides 2022 Guidance
WHEATON PRECIOUS METALS ANNOUNCES RECORD REVENUE, EARNINGS AND OPERATING CASH FLOW FOR 2021
Wesdome Announces 2021 Fourth Quarter and Full Year Financial Results
Gold Resource Corporation Reports Robust Financial Results and Strong Balance Sheet for the Year-Ended December 31, 2021
Endeavour Announces the Sale of its Non-Core Karma Mine
Scorpio Gold – Debenture to be Settled in Shares
Eloro Resources Files Preliminary Base Shelf Prospectus
MAG Silver to Acquire Gatling Exploration in All-Share Acquisition
Perpetua Resources Supports Congressional Call to Action on US Critical Mineral Production
Bitcoin slipping
was over $40K earlier, back to flat. If I didn’t know better, I would think the Nasdaq will slip with it.
Trying to play correlations is definitely tough in this market.
Palladium taking a hit
PALL might be worth another flip today.
PM shares not exactly getting crushed this am surprisingly.
eeos
Sure seems that way. We’ve had a few people over the years that do what you say – showing up at inflection points.
Funny how they always come around when gold is down.
Don’t really know why they’d come here, it’s not like the sum total of our little group hold enough pm’s and shares to amount to much of anything that would matter to the price of the metals.
They’re taking the metals back down again, someone must have pushed the wrong button earlier.
BTW – the last appearance here which was full of doom, the HUI was 280 and immediately moved up to 320 – oops!
$1950 on deck?
It appears we’re going to get a little deeper pull back to work off this overbought condition?
Not sure the where the HUI is going, maybe 280?
Weird, when I started typing this, gold was down $28 and silver down $.42 – Then in the blink of an eye, the losses were cut in half, now down $14 and $.21. Never see that happen to the upside but it just did this am.
Seems it’s almost a given anymore that if the SM is up, the next day it will be down and vice-versa.
So, 10 yr. @ 2.01%, USD down a bit, no real headwinds on that front.
You see the coinguy is creepy
he comes around during huge inflection points and tries to steam roll. Uses fear to push people out of positions. The sower of fear and doubt. Just like mountain of gold did. Toasted most likely if he really had any skin in the game
The Bank of Russia
Swift… what?
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ipso facto @ 18:58 Re EXK
Yes agreed I like EXK, it’s a good performer with higher silver. So many miners look great but we can’t buy them all.
Captain Hook @ 20:06
Our time is at hand. 
Aye Captain – welcome back
I read that article and Zoltan’s comments.
He is one smart dude from what I can tell.
Why are gold and silver going up?
Even though the bankers are still fighting tooth and nail on Comex to keep PMs down.
Answer: Record physical demand.
This will soon bring in delivery failures, which will light the metals on fire like never before.
As I have said for some 20 years now, the only way the little people are going to get rid of these tyrants is to buy up all the physical, removing them of their power with the re-introduction of commodity money.
Well it’s happening right now.
Buy gold and silver ladies and gents as your future literally depends on it (by stripping the tyrants of their free money machine better known as fiat currency).
They won’t be able to paper over the PM markets anymore and they won’t be able to buy off all the parasites either.
A better world is coming.
God is here.
Cheers all
silverngold @ 15:43
The Endeavor is in incredible condition! I guess not much worms and wood feeders in Antarctic seas.
Some years back I read a book on Shackleton’s adventure. Absolutely amazing!
Mr.Copper @ 15:40
When silver flies EXK will be among the first to benefit!
Yo lo tengo
Buygold @ 12:5
You bet. HighGold had some monster drill results a while back, the shares shot up and have now come back. Glad you made some bucks! I’m going to hang on to it for a while.
This is a speculation play and a person may get bitten!
I heard this morning on the news their going after anything Russia in the market next, in the Us market maybe Europe including ETf holdings. They want to withdraw them but still working on it. So you have anything with them involved it could hurt the stock which isn’t fair to global holders. One I think is BP and probably why last checked anyways wasn’t moving like the others.
Mr Copper
You have some good ones too. Since I haven’t been trading wasn’t pre positioned I’m looking mainly for the forming cup and handles or accumulation patterns for position trades.
I saw HL bounce a few days ago and could probably go to near 10 or so maybe.
Buygold
Sounds like you had a good couple of days
I might take a look at couple if stocks you and Ipso mentioned.
The pal’s tend to start topping in spring from what I remember but this isn’t a normal market so who knows I’ll be trying to stay away from day trades to swing or position because trading on the phone plus it adds up and tax time is a night mare.
Re Crude Oil Prices
I remember Oil went from $2/bbl in 1970 to $42/bbl spike around 1981. The high spike average for March ’81 was $35/bbl, 1981 Dollars. If you adjust for inflation in todays dollars, a lot of things are 20 times more. So to be kind if you figure 10 times more, $35 times 10 is $350/bbl as the next all time spike high. Gasoline I think went .25 cents to $1.30 in around 1980. $1.30 times 10 is $13/gallon gasoline for the new high.
The recent spike oil average for June 2008 $128/bbl, but $145 was a intraday high. So that was 14 years ago. No time now to figure the true inflation for 14 years (probably 7%/yr) so as a shear guess, the $145 doubled is $290/bbl if the next spike high is tomorrow. If it takes a few more years??? For the next all time high? $350/bbl or more?
Naturally if business activity around the world implodes like 1929, and we get a massive deflation, US Dollar GAINING value, maybe we see $2/bbl and .15 cent gasoline. And $5,000 to $10,000 houses again. And a .10 cent loaf of bread cup of coffee and a 2 cent stamp. Probably coincide with a new gold silver backed currency.
This entire system is so bastardized it has to be recycled, thrown out, and start over start a new game like 1934 gold confiscation and 1937’s now Minimum Wage and Maximum hours act.
Also keep in mind those projected highs are what it was costing us. Thats why so many people moved south and everybody was buying Diesel Rabbits. But we were highly paid back then with one worker households, and affordable 18% mortgages. I believe the average salary was $5,000 to $10,000/year. Times 15? $75000 to $150,000 today, but times 20 makes more sense. So avg $7500 times 20 $150,000 for one worker household, if they live very frugally.
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=f000000__3&f=m
Let’s hope so.
Gold: “A crisis is unfolding. A crisis of commodities”- Zoltan Pozsar
BY VBL
We fear a venue squeeze for Gold and Silver can hit Comex in the next year
Looks like I was wrong about $2K
They’ll probably close us below $2K
Still great to see the shares outperform the metals.