Hochschild Mining Share Discussion Threads

[pixi] 01/12/2016 12:18

The problem with a strong currency is that it screws up exports which cost more. History shows that everything that goes up also comes back down again. When all the euphoria over Trump gets a reality check, things will get back to normal. Meanwhile, don't chicken out, keep the market coming south and let me buy on the cheap! Lol

[charles clore] 01/12/2016 12:13

DT - you may, I won't be doing that but good luck lol

[dt1010] 01/12/2016 12:10

May as well throw the towel in and short gold and silver then eh

To be honest I don't understand why the dollar has strengthened so much since Trump was elected

[charles clore] 01/12/2016 12:10

The only thing we have going for us is the strength of the dollar and the demise of other world currencies. Because gold and silver is priced in dollars we get more for our precious metals in sterling so it works as a store of value. Regarding dollar strength, I don't know how long it will last because it will reach a tipping point where no other nation will want to trade with the US. They will source their goods and commodities elsewhere at a cheaper price. Fundamental market economics will always prevail no matter how they try to manipulate it.

[pixi] 01/12/2016 11:59

In the words of the author Vivian Green, "Life isn't about waiting for the storm to pass. It's about learning to dance in the rain." That's why I'm buying the dips and stocking up on cash, gold, silver and food. I don't care if I get wet, I've got a lot of dry powder standing by. So bring it on.

[dt1010] 01/12/2016 11:11

I think come next year we will see that Trump's plans are unlikely to change anything radically.

[chipperfrd] 01/12/2016 11:07

Topicel,

Yes, the much higher levels of deliveries into contracts and the actual significant levels of metal withdrawals over 2016 would indeed indicate that there is a real cost to this paper gold sham market in terms of using up limited stocks of metal.

Trouble is, the principle interventionist (Fed) can print unlimited currency at zero cost and is immune to losses. Suppressing gold/silver is essential because in any free market the sheer volume of new currency would cause general price inflation across all products and services - and would obviously bid up PM prices in particular. Such an obvious indicator of underlying inflation has to be avoided at all costs - and is!

Reality is that most of this vast amount of new currency has stayed within the financial system and has indeed bid up financial assets - bonds, equities, etc. But high levels of public debt and other factors have kept the velocity of money within the mainstream economy at near zero - hence muted US inflation, so far!

How long can all this go on? Well, given the US has the enormous advantage of having the world's reserve currency - arguably indefinitely!

Not so everywhere else though! Many other currencies are heavily depreciating against gold/silver and will likely continue to do so. I understand that something like US$9T of USD denominated debt is held by emerging economies and is imposing an increasingly larger debt maintenance load which will presumably crack somewhere at some time.

The world would appear to be already at peak debt (c. US$240T) and even the Japanese have seemingly abandoned ever more QE as it has failed to halt their long-term deflationary spiral. Not so the EU though, although it is running out of 'quality' bonds to purchase and is now having to consider buying corporate and junk debt in order to keep it's own massive QE on the road (I assume to eventual ruin!!).

So the world financial system is in a pretty bad state because of the interventionist policies of central banks which have effectively removed all notion of 'free markets' in just about anything!

The 'war on cash' and the G20 imposition of bank bail-in laws do rather point to the PTB expectation of an eventual crunch which will require major stripping of the public's cash to replenish bank reserves - at least that is the way I see it. It's called 'financial repression' and there is not an awful lot we can do about it I'm afraid.

I plod on with my interest in PMs as a form of insurance. I hope that things will improve but I see no evidence that the PTB are doing anything other than just doubling down on all the craziness that has already occurred.
Chip

[dt1010] 01/12/2016 10:58

All we need to watch is gold.

When that recovers above $1200, silver will too.

Who knows where PMs are headed short term...long term I am absolutely convinced they going a lot higher.

Too much debt in the system. Too many risks.

Fear will return with a vengeance.

Short gold and silver is a crowded trade. The crowd is rarely right.

The ONLY thing that will stop this PM rout is if the Fed doesn't act in Dec.

Or if Italy votes no and the Euro banks pose serious risk instability.

[lauders] 01/12/2016 10:55

Yes & no CC! I would consider buying more around 190p but I would be hurting a bit on the previous buys, so mixed feelings. I very much hope DT1010's confidence is well founded as so far many views are proving to be very premature! Nobody is able to read the future, let's be honest here!

[dt1010] 01/12/2016 10:46

Crying shame for short termers....irrelevant to long termers......

[brilliantball] 01/12/2016 10:38

gap at 196

[pixi] 01/12/2016 10:38

I've just bought another 15,000.

[lauders] 01/12/2016 10:30

Hate to say it but I assume HOC stand a chance of dropping out the FTSE 250 if things don't improve soon? Looks like this will hit the 200p at least if not 190p area at this rate.

[topicel] 01/12/2016 09:24

So Chip, is it the case that the gold and silver settlements being higher than last year is indicative of the market requiring more physical delivery, by quite a margin, than last year too?

They can't dodge it now?

And is it therefore true to say that if longs are so inclined they can start building their positions again for 2017 and at the least the price should stabilise somewhat as December moves forward?

Clutching at straws perhaps, but without more buying of OIs we must be facing a torrid time still without sensitive events like a no Italian vote or, wonder of wonders, another Fed hold!

Topicel

[topicel] 01/12/2016 09:19

What 'import' are we reading into the Trump Organisation accepting a few gold bars as rental deposit?

Is it the significance of it as a wider belief he may or may not have as regards to the value of gold. Now if someone said he was buying up gol too in recent years, then that would be interesting!

Firstly, this was a transaction reported in May, and secondly the very fact he added comments that it was part of a balanced portfolio is hardly earth-shattering either.

But as each new low is hit in PMs and related shares and support for silver, gold and HOC too seems to be wavering by the day, as the dollar becomes in-stoppable, are we not becoming guilty of reading too much into every little revelation?

KWN and ZeroHedge are clearly getting frantic too. If the Italians vote yes then values must come under more pressure...so c'mon Luigi and co, send out another warning to the elites.

Topicel

[celeritas] 01/12/2016 09:16

Its a shame the worlds shambolic PM paper system doesn't work like Bullion vault

You must have the resources to settle your order for it to be accepted during validation. This means you cannot post lots of orders if you have insufficient funds or gold to settle them all, each in isolation.

[dt1010] 01/12/2016 08:26

'Oddly enough, silver's 5-day chart shows a double bottom yesterday and today at about 1640¢. That now becomes the must hold line in the sand.

No such luck with gold, but today's big slide might have exhausted the selling. However, only by turning & busting through $1,200 will gold make anybody believe it's serious'.

The MoneyChanger

[chipperfrd] 01/12/2016 07:20

The December gold contract went off the board with 39.04t standing for delivery. This compares to 6.45t one year ago standing for December 2015 delivery.

This is the 3rd highest delivery month this year with June at 49.1t and August at 44.35t.

December silver has 475t initially standing which is similar to 1 year ago. September had 500t, May was 422.4t and July was 384.7t.

Chip

[pixi] 01/12/2016 01:42

Tim and Lauders

Thank you very much for your help. I've just bought from bullion by post. I've used them before and they are first class. Gold now at $1165!

[lauders] 30/11/2016 23:48

pixi - You can also send snurkle1 a private message here via ADVFN or from his site below and ask some details. He offers silver and gold from his site & I have purchased from him.

[pixi] 30/11/2016 22:58

gaaston, were you changed VAT?