Member Info for carvegyber

This was reported by Mag silver in late April:

"We are very pleased that Fresnillo reports good progress to get regulatory approval for the power grid connection by mid-year," said George Paspalas, Mag Silver's President and CEO. "It is very heartening to see the grade and tonnes the mine is delivering, particularly given that the majority of the mill feed is still coming from development headings. This augurs well for the geological model and full stope production in the future. Given the tonnage and good grades, the project has been self-funding this year with no additional capital injections required."

"crypto as an inflation hedge!" Seems no one bothers understanding meanings of posts and just like taking phrases out of context to score points. Point scoring styles posts tells me these posters are plants.

Gold always get sold off when there is sudden selloff in equities. It is something we saw 2 weeks ago and now again. We have also learnt in the past that after traders have covered their positions, gold comes back. However, I will say that I don't think we are at the bottom yet of the selloff. It has been more gradual than the past and there hasn't been any high profile failures so I suspect there is more to come. We need bad news of insolvencies or even recession confirmed which is still months away unfortunately.

In the face of continued high inflation which seems to me like it is not going to go away now, it will remain supportive for gold because once they have gone to cash, can't buy equities and can't buy bonds because prices are falling, where do you put your money? An inflation hedge. Especially now that Bitcoin is out of the picture.

Once failures start, there will be loosening again and feds will probably print to support the bailouts. If that happens, I am guessing gold will breach all time high. I have doubled down and will triple down, quadruple down.... with each drop. The rises have served me really well to take profit and the drops are great for me to retake the positions. I am trading 2 items. Fres and Silver.

Has anyone noticed that the volume has been picking steeply after 2pm each day? Seems to be a stateside buyer around. Long may it continue.

parting shot, I would be watching the volume at 2pm closely today to see if buyer returns.

How is Biden going finance his country when you have to pay 10% to borrow? 5% would already be eyewatering.

BOE is the same and Eurozone would collapse and it would be end of EU. People would lose faith in fiat very quickly.

Dr.J. Spot on. That is the pressure on PMs right now and you have correctly pointed out the future too. Considering the dollar strength and yield rises, PMs have been incredibly solid. Makes you wonder how high PMs will go when they have to loosen again.

It all comes down to whether Powell is like Volcker or not. I really can't see a volcker policy in this day and age. The business lobby has the feds round the curlies. He has already ruled out 0.75% rises.

Just a guess re: yesterday's price movement was that there was a big US buyer on the move but the rise got heavily sold into when the gold price dipped. I am hoping that if this is right, then we could see shorts closing once the gold price pops back up. Watch the volume. Gold price is getting close to the area that I think would trigger a short cover. Fingers crossed. Don't slate me if I get it wrong haha.

don't waste your time with Slater. I believe he is a plant. Just here to wind people up. As his names suggests, he just likes to slate people and will actually go back through many pages of your history to score points. Which serious investor would have time to do something like that? WOS

Big dose of Taper Tantrum 2. If they raise rates aggressively, a lot of the housing market will be underwater and companies bust. Let's see where it goes.... Sitting pretty with my investment in Fres me think.

Be patient my son....

With war in Ukraine seemingly being ratcheted up by Russia and the West, recessions looming due to energy embargo and surging inflation due to China lockdown and fuel costs, surely deflation is well and truly here.

Maybe US is the most aggressive in raising rates hence dollar strength but gold really shines in deflationary periods. Not even property can beat it. Surely the time to double down is upon us? Caveat is that you mustn't have a time horizon of weeks. You are looking at months and years.

I will refrain from adding fuel to the conspiracy fire...

HH, that is well spotted. Silver has a fairly strong industrial commodities influence. You will see that industrial metals suffered since 19th of April too. I suspect that it is the bulk of the explanation.

Until they have to bail out the French and Italians.

He is right Noel. It started with Russia and it stabilised the currency. BOJ may have to do the same soon as their currency is falling fast but the biggest problem of all is the Eurozone. It has no gold to speak of to back the Euros. Only Germany. Germans don't like bailing others out so will probably say I am going Deutschmark, Auf Wiedersehen. All the euro banks assets would be marked down severely hence go bust. Gulp. How much more can the Euro population take. Inflation running hot and it won't be long before Gilet Jaune start burning the Elyses. It all starts with the people. When they had enough, the will riot and loot because they are starving.

BTB, you got the Russian central bank relationship the wrong way round. Russia is selling gold at 5000/g. Not buying it. Their currency have strengthen while being underpinned by the gold backing. It strengthened because west doesn't want to sell it anything but has to buy their oil, gas, food and commodities. They have a huge balance of payment surplus.

If the old Empire were in charge, we would sell them opium and then force them to handover Donbass. LMAO.

Slater, you don't think a gold mining company operating in Russia pays any money to Putin? Who is the real fool?

Slater, if you are no putin apologisr, why do you own poly and support putin?

Perhaps smacked down by wall street but then bought by asian bargain hunters.