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Bizarre Gold & Silver Movements Occurring Behind-the-Scenes…
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
goldsilverworlds.com / SiteOwner / February 4, 2016
Keeping an Eye on Bullion Supply and Demand
A lot is riding on the demand side of the equation when it comes to metals’ price performance this year. Demand is the bigger wildcard with signals thus far being mixed in gold and silver bullion markets. The outlook for supply is more certain, and it isn’t pretty.
Endeavor Silver, one of the largest primary silver mining companies, announced last week that it expects to reduce production of the white metal by roughly 30%. The company’s El Cubo mine is not profitable despite efforts to reduce costs. Endeavor plans to halt development and exploration at the mine and process accessible ore only. By year end, the mine will be placed on “care and maintenance.”
Steve St. Angelo of SRS Rocco Report reviewed the company’s third quarter 2015 financial reports, which revealed the all-in sustaining costs at El Cubo at $18.48 per ounce. There will need to be a significant recovery in silver prices before the mine can operate profitably. Investors should expect other miners to announce similar plans to taper production in the coming months.
The post Bizarre Gold & Silver Movements Occurring Behind-the-Scenes… appeared first on Silver For The People.
Thanks to BrotherJohnF
Source: http://silveristhenew.com/2016/02/05/bizarre-gold-silver-movements-occurring-behind-the-scenes/
