Re: Anybody buying these days?
in response to
by
posted on
Dec 29, 2013 02:24PM
Golden Minerals is a junior silver producer with a strong growth profile, listed on both the NYSE Amex and TSX.
Yes, I have been buying a few thousand shares here & there since mid-December, most below .48 cents. I also know a few other buyers, even some well known commentators in the gold/silver sector. Even though things look bad & precious metals are attracting few buyers, I still believe that people like Sprott & Sinclair will be more right than wrong so $100 silver will likely happen but who knows when or the ultimate timing.
BTW, for what it's worth, I have always maintained that the next time period for a major financial crisis will happen prior or during the next presidential election period starting in fall 2015 to fall 2016. Gold should see this coming well in advance as usual.
At the same time there is no way I anticipated the degree or depth of the present gold/silver correction/consolidation at a time all the major central bankers of the year were printing huge amounts of money on top of continuing ZIRP policies or close to ZIRP policies. I still maintain that the fundamentals for gold/silver were the best I have ever witnessed in the fall of 2012 leading into 2013 and was very surprised that gold/silver didn't rally back to there highs after the correction in late 2012. Something else happened for sure on the way through 2013 in April and again in June that no one on the planet could foresee, a planned determined response which overwhelmed all strong fundamentals. I don't know if the truth will ever be fully revealed (not likely) but as we all know there are numerous theories that are plausible but the fact remains that this kind of manipulation or intervention won't win in the long run since actual physical remains at the heart of the issue along with continued central bank largesse around the world and huge increases in debt everywhere you look, this cannot be sustained and TPTB certainly couldn't risk gold upsetting this applecart or supposed recovery.
Although things appear better today and likely are somewhat economically from 5 long years ago, this has required an unprecedented experiment in monetary policy around the world meaning there will yet be unprecedented costs associated with these actions beyond what so called monetary experts expect, it's the law of unintended consequences that will rule the day as always when poor choices have been made, just give it time as with gold/silver. Keep in mind they can't drain GLD again or Crimex dealer accounts or London gold vaults or hold off deliveries to Germany and others forever without consequences at some point.