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Golden Minerals is a junior silver producer with a strong growth profile, listed on both the NYSE Amex and TSX.
Message: There are negative lease rates
There are negative lease rates in every precious metal. I have never seen that before! The negative rates are spreading out along the curve too and intensifying. Why? The simplest esplanation is LIBOR has been forced down to unnaturall levels to rekindle the credit markets, while forward rates have risen of late to above the LIBOR rates. I think this signals a shortage of metal in the market. After all, the real lending rates are the forward rates and if the central banks are cutting back on lending, the rates rise.
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