china = hong kong to the rescue this morn?? | Precious Metals Message Board Posts

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Msg  218931 of 220416  at  5/26/2020 9:07:08 PM  by

eagle76


 In response to msg 218793 by  eagle76
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Re: china = hong kong to the rescue this morn??

 mentioned last Friday that the miners and gold got a 'save' from a trend that was starting to show up in the miner charts.
 
  But it doesn't look like it was 'enough' to stop the slide that is obviously developing...
 
Despite the hype, gold miners have lost momentum, and the shift in effort to hype up the silver miners tho tried, isn't working either.   Some like NEM and KL, SSRM, AGI, even FNV now have a negative trend underway...
 
  Yep, this sector needs another 'save' effort, the promoters need something NEW to recreate the momentum that has apparently failed to achieve $1800 despite some of the best conditions present to make it happen.  
 
and who knows, maybe its just the 'par for the course' end of the month 'price adjustment' that we are used to seeing taking place...  so who knows what happens after the first of the month, but after this big effort to push gold to $1800, what do they have left to try again with?? 
 
Disclaimer:  out of physical, and sold my AXU at its recent peak..  Intent/hope is to buy AXU back 'lower', for reasons...  and IF it continues its trend, I am expecting to see a nice 'discount' relative to the price I sold it at...   Now will I buy physical back again??  All depends on what price it falls to IF it does fall...  
NOTE:  watch the price of oil..  Its up over $30, up from the low 20s..  and thats usually a 'hit' to the profit margins on the miners...   tho I suspect the miners have stocked up on cheap fuel/oil when prices were low...  


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