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The puke moment for precious metals and miners
Friday, April 12, 2013 16:56
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This is worse than a nightmare !
With gold down $84 today and silver shedding $1.81, we can’t have much more.
Less, before the end of April, we end up being paid to carry home those metals that used to be considered precious.
With gold down $84 today and silver shedding $1.81, we can’t have much more.
Less, before the end of April, we end up being paid to carry home those metals that used to be considered precious.
Today the HUI gold miners, barely holding 300, shedded 6%. The HUI dropped to 20.4% of the price of the yellow metal: below the 2008 financial crisis bottom.
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| HUI relative to gold, daily observations over 6 months. Have you had enough? |
None of the HUI nor of the XAU components is up today. Even among juniors there are almost no counter-trend movers. Praise yourselve happy if you’ve lost less than 5% on your mining portfolio today.
2013-04-12 16:46:35
Source: http://gwyde.blogspot.com/2013/04/the-puke-moment-for-precious-metals-and.html
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