Mid-tier gold miners reported a spectacular quarter, winning against inflation, mining costs back lower; combined with higher gold prices made for enormous earnings growth.
These ratio charts could scarcely look more bullish for the PMs sector than they do now and this being the case it is perfectly in order for us to be raving bullish on the sector now and since..
Commercial traders would almost certainly be buyers at $1925. That’s the number I suggest gold bugs focus on for any new buys while cheering for gold to go to the $2080 highs...
The problem is that this policy was not heroic on the big macro picture. Quite the contrary, this “victory” was destructive… of the middle and lower classes and by extension, society itself.
How the S&P takes shape over the coming weeks will likely tell us if we can get to a new all-time high before that long-term bear market begins in earnest.
For the foreseeable future, copper supply is 80% concentrated in just five mines, all of which have major off-take agreements with South Korea, Japan, or China.
