Precious Metals – Ugly Bloodbath… but Wait (July 7, 2017)

I’m a patient guy, but c’mon it’s getting a little trying waking up to the same ol’ routine each and every single day…

Can the precious metals (silver in particular) please catch a break?

Did a massive (but innocent) meteor carrying with it billions of ounces of easily extractable silver just hit the earth that I’m not aware of?

Oh wait, all of this is due to jobs growth in… government?

From CNBC.

More from CNS News.

Who needs manufacturing, anyway? It’s so overrated…

Besides…

“The continued vitality in the U.S. labor market means that the Fed is on track to begin shrinking its balance sheet in September and to raise rates again in December,” said Nariman Behravesh, chief economist at IHS Markit in Lexington, Massachusetts.

Sure thing boss…

Don’t make me go and back up more trucks…

But wait, the miners are actually holding up surprisingly well amidst today’s gigantic selloff event in the paper metals space…

My own personal mining portfolio shown below…

The worst hit is only off -3.26%?

Hmm, that’s not anything really worth writing home about… or blogging about…

Pretty uneventful day in the precious mining stocks, all things considered.

But what a brutal summer it’s been, no doubt.

 

It’s a game of patience folks… immense patience is required to play this game.

 

Fight On!

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Investment HuntingFinancial SamuraiFI FighterFinanzr Recent comment authors
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Finanzr
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It is so easy to get entangled in the micro-picture.
As you always say: it is important to always look at the macro-picture.
Did anything in the last days fundamentally change the long-term story of PMs and Silver? I answer this question with no. My thesis is still intact and that is why I stay long.

I think if you do not have a solid investment thesis for both the sector and the individual companies you are investing in, the likelihood of getting fleeced by short-term price action is ver high.

The longer I am in this sector, the more I get the feeling, that the miners DO lead the price development of the PMs. From May to June Gold went up – the miners did nothing or went down. It might well be, that we now have the reverse happening and the intermediate bottom is near.
Wake me in 1-2 years from now… 😉

Finanzr
Guest

True that – it is always easy to draw conclusions in hind-sight. Better avoid doing only that, as it will not make you a better investor…
Having cash at hand is really my biggest weak-point! Somehow difficult for me to discipline myself to hold onto more cash.
I have a couple of Biotech Companies that where doing quite well. I bought most of them when sentiment was so bearish before the US election…
So if things get worse for the PMs, I will liquidate there and re-allocate.

I should really not buy new stuff anytime soon and build my dry powder.

Financial Samurai
Guest

How much is the whole sector down the summer? I haven’t been paying attention but it sounds like you believe there is a buying opportunity right now or soon enough?

Investment Hunting
Guest

I’ve been buying more shares here and there. I think it’s a good time to buy. What are your thoughts on Lithium? Do you see this going up soon?

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