Gold

[Aaron]

Looks like my gold miners will get hit today.
Don't know enough about what he is discussing in your link there JBmurc. Manipulation of the gold price is a bit of a conspiracy theory isn't it.
I thought that as the US$ gets stronger, gold gets weaker as investors rush to the us$, much like a lot of other currencies around the world at the moment.

That being said although I haven't actually monitored it very closely. The gold mining company share prices seem to have held up pretty well considering golds current slide.

[Blue Horseshoe]

The mining companies have held up because the lower local currency has offset the lower gold price.

[JBmurc]

The mining companies have held up because the lower local currency has offset the lower gold price.

Yes, like the many ASX producers that sell GOLD at AUD $1600oz+ yet all in mining cost averages $1200oz etc so still making a solid profit at these levels

Different story in the US with much tighter margins ...

PGM miners even worse with cost on average higher than spot PGM prices ....

If Gold drops further in USD we could well see some USD producers hit the wall and well mothball operations as they can't just keep going into DEBt for ever.. this will see GOLD production fall etc

[Lego_Man]

Gold's performance in this environment (not exactly raging risk-on) is all the more worrying as it indicates a liquidity squeeze. The way it's trading suggests it's a poor hedge in the medium term for market turmoil. It should be trading UP with EM concerns, not down.

Avoid for now.

[Aaron]

should have listened to lego man. everything is not awesome today.

[Bobdn]

should have listened to lego man. everything is not awesome today.

Silver (ETF and physical) is 3% of my portfolio. I don't expect to make any money out of it, it's a just a little bit of insurance should things get really crazy out there. So like house insurance, I'm hoping I never have to use it. If I'm ever reaching for my Silver Maples or 10oz Perth Mint bars, there's a good chance I'm also stocking up on canned goods and my shares are worthless.

Silver is cheap today but would be a lot cheaper for us if our NZD wasn't so weak at the moment. I'd be tempted to buy some of them fancy new silver krugerrands.

https://gogold.co.nz/InvestSilver.php

[shasta]

I've been accumulating more physical silver, can stay below USD15/oz rest of the year for all i care...

[Bobdn]

I've been accumulating more physical silver, can stay below USD15/oz rest of the year for all i care...

Physical silver is so expensive in NZ - 10% above spot if one is extremely lucky and mostly 15% above spot and no chance of actually selling it at spot. Incredibly difficult to make any money off it, short of a financial apocalypse. I still love my physical silver

[airedale]

Last Wednesday in New York the spot price of gold shot up from $1200 to nearly $1300 before settling back to the 50 day moving average of $1200. Now why would anyone {presumably a professional} want to spend $1300 when with patience they could get it for $1200. Any conspiracy theories or inside knowledge welcome.

[Joshuatree]

Testing the mkt and fishing for buyts?