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   Gold/Mining/EnergyBig Dog's Boom Boom Room


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To: diegosan who wrote (199310)6/19/2019 10:27:16 PM
From: Black Blade
   of 204175
 
I currently buy American Silver Eagles locally from a couple dealers near me. If I were to buy a "green monster box" of 500 there are several online dealers. Regardless you always pay a premium over spot when buying and selling PMs. Spot price is just a gauge of where prices are for institutions and retail prices are slightly higher. When factoring shipping and insurance costs it is usually just easier and cost effective to buy from a local dealer.

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To: E_K_S who wrote (199317)6/19/2019 11:53:37 PM
From: JimisJim
   of 204175
 
That was roughly the spot price 3 or 4 yrs ago. I still glance at PM spot prices. Silver is lower now than recent years. In fact what I kept vs sold when my father died is worth less now than when he died.

I’m not a bear in the actual metal, collectibles — I think it’s sideways chop for bullion awhile longer barring a bolt from the blue, but I haven’t done the FA “work” to make such assertions supported by actual analyses.

I will flatly state the spot price is currently about the same as when I inherited my share of the pirates’ treasure, but silver is about a buck per oz lower right now despite gold bullion regaining a bit in spot bullion prices.

These are simple statements that are not subject to interpretation since I experienced it first hand over several months as my brother and I sold most of the bullion and kept/added the good stuff to collect and pass down to our kids.

Numismatic gold coins in particular have outperformed other forms of gold, except maybe (haven’t checked) niches of specific jewelry or other justifiable reasons to fetch higher premiums.

I hope everyone already knows the difference between the various equity market products like miners, but also “paper” gold vs actual claims against actual metal. I think i’ve mentioned before that I liked CEF for the later — the Canadian fund roughly 50:50 gold to silver and that there really is metal stored and allocated based on how much one “invests” in the fund.

I sold my CEF when I got my grubby paws on a lot more numismatics and felt a bit over invested in gold and silver. I don’t expect to make bazillions with gold and silver, but I like what I have whether one calls it an investment, a collection/hobby and have as much as I want. If prices spike a lot some where down the road I’d likely sell more of pure bullion remaining and spend on a few river cruises. Or maybe a Patagonian adventure.

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To: JimisJim who wrote (199319)6/20/2019 8:47:05 AM
From: E_K_S
1 Recommendation   of 204175
 
Huge move in Gold over night

Gold (Aug '19)1,385.3 +36.5 just short of $1,400/Oz . . largest one day move in years!

Gold skyrockets near six-year highs as Iran shoots down U.S. drone
Jun. 20, 2019 7:54 AM ET|

Comex gold futures +2.7% to $1,385.60/oz., on course for their biggest one-day advance since October, surging on the combination of escalating tensions in the Middle East and the Fed's fresh rate-cut signal yesterday.

Futures earlier reached a peak of $1,397.70/oz., the highest since September 2013; also, silver +2.8% to $15.38/oz. and platinum +1.7% to $819.70/oz.

Already rising in the wake of yesterday's Fed statement, prices surged following news overnight that Iran's Revolutionary Guard had shot down a U.S. drone it said flew over its territory.

Precious metals equities are rallying pre-market: DRD +8.9%, CDE +6%, AU +5.1%, GFI +4.8%, SBGL +4.1%, IAG +4%, KGC +3.8%, AG +3.7%, WPM +3.3%, AEM +3.3%, GOLD +3.2%, NEM +3%, HMY +3%
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I expect the $US to start falling excelerating Gold higher . . we live in interesting times

I doubt this move is due to the Iran shooting down a drone (even if it was Iran), it's a much bigger development. Debt, negative interest rates & unfunded pension liabilities to name a few.

Debt ceiling raised again (talk that it may even be suspended!)... hmmm

EKS

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To: E_K_S who wrote (199320)6/21/2019 7:01:08 PM
From: JimisJim
2 Recommendations   of 204175
 
Careful there. Big difference among the lumped together “precious metal equities”... some are miners (CDE), some are royalty companies (RGLD) some are indexes (HUI). some are purely paper gold (GLD), some have real metal (Sprott’s and the Canadian fund, CEF).

Those listed are mostly miners. They can make or destroy wealth quickly if you don’t know the mining biz — a sector rife w/ greed, fraud and even “labor issues”... if you are really interested, you can learn a lot from Isopatch on his Natural Resources thread, including the sorts of analysis necessary to make more than one loses, and haw not to lose what you made — that sector is very different from regular “stock markets” and can help you identify when someone knows what they’re talking about (I am no that person, fwiw, but I know what I don’t know and stopped playing the miners some years ago.

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To: JimisJim who wrote (199321)6/21/2019 9:13:35 PM
From: E_K_S
1 Recommendation   of 204175
 
No worry. Been invested in Gold and gold mining stocks since the 80's. My Dad was the eternal gold bug and a lot of that knowledge has/was passed down to me. In fact many of my natural resource holdings were picks from my Dad.

I think we are in for another long run similar to the one in 2001 ($382/Oz) to 2011 ($2,000/Oz).

This time may be different as I fear these negative interest rates and searching for more defensive plays. FWIW moved 2% of cash to the Vanguard Intermediate Treasury Fund yielding 1.8% and 2% more to the Credit Union yielding 2%.

Been accumulating shares in GOLD (Barrick Gold) w/ several Buys starting 10/2018. Also some adds to FCX (gold, copper & Oil/NG). Gold closed at $1,400/Oz today w/ next target at/above $1,700/Oz. No plans to sell any time soon as only a 2% portfolio position.

For me it is preservation of capital so not chasing yield.

FWIW, my No 2 portfolio position is BHP (lots of natural resources) and pays a good dividend. Maybe that will move high if/when we get that China deal.

One of the other possibilities of negative interest rates (or 0 rates) would be a booming stock market as long as the economy has some minimum growth. Hard to know how this will play out as it is a territory that is uncharted.

EKS

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To: Black Blade who wrote (199267)6/23/2019 6:18:43 AM
From: elmatador
1 Recommendation   of 204175
 
Who will suffer most from blocking the Hormuz Straight




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To: elmatador who wrote (199323)6/23/2019 10:24:05 AM
From: SEDCO 445
   of 204175
 
In the last decade the UAE built a pipeline and storage facilities to export 2 million barrels a day from the Emirate of Fujairah. Not enough to supply the world, but good planning. Another concern in the area is incoming food shipments. being stopped.

SEDCO445

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From: isopatch6/24/2019 11:43:47 AM
   of 204175
 
Worth noting very large differences in NG well head price discounts to NYMEX spot or Henry Hub in the Permian vs YTD Appalachian Basin. Have heard Permian gas is often flared to get at the oil. The gas has little or no market - right now - due to a severe shortage of demand infrastructure to take the gas at any price. In the Appalachian Basin, we were well below what we needed in such infrastructure, 5 or 6 yrs ago. Drove our well head prices 50 to 60% below NYMEX spot. Despite obstacles and delays to several major pipeline construction projects? Local well head discount to NYME is much smaller, YTD than at any time in the 10 1/2 yrs we've lived in large producing area of WV.

Just opened March royalty statement from operator of most of my wells. Shows well head price of $2.60 -2.62/mcf. for all but 2 small wells. Those received 2.42. Eyeballing NYMEX chart looks like it averaged hi 2.70s/lo 2.80s/mcf. in March.

Not an expert on the Permian. OTOH, think it's likely its NG will see commercially viable bids given 5 - 6 yrs of construction in gathering, processing and pipeline take off capacity to LNG facilities along the Gulf Coast AWA retail, industrial, and utility customers in many U.S. states & Mexico.

Iso.

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To: isopatch who wrote (199325)6/24/2019 7:21:53 PM
From: JimisJim
   of 204175
 
You have more NGLs, too, as I recall... but my memory isn't what it used to be...

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To: JimisJim who wrote (199326)6/24/2019 8:27:03 PM
From: isopatch
   of 204175
 
Yes, we're in the proven "wet Marcellus" portion of the Super Giant Field. But right now? All but one of my wells produce from more shallow Upper Devonian shales drilled 10 to 25 yrs ago. Going to be fun when they start going after our Marcellus reserves horizontally. As you know, most recent drilling has been 4 1/2 east and 5 miles west of this keyboard compared to 15 to 20 miles distant before this year. .

Interestingly, there's still some very good, as yet, undrilled Upper Devonian infill locations on 4 or 5 acreage parcels. Also a few leases yet to be drilled deeper than 2,000'. Operators of a couple of marginal shallow sand wells and the larger number of Upper Devonian zones don't own deeper Marcellus rights. Those rights were retained by EQT after they sold all their existing Upper Devonian production to Diversified Gas, last year.

Once the epic proxy war/food fight between the Rice Brothers and current EQT mgt, is resolved? Probably at next months annual shareholder's meeting. Whoever wins is likely to drill a few new wells around here. Otherwise, competitors H&H Energy/PTEN or Antero are going to eat EQT's lunch....)) Local mineral property owners are cheering on the growing competition for our local, proven, stacked pay, reserves.

In the meantime, Gold's massive breakout on high volume is entertaining the chalky old bones.<g>

Iso

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