And off we go again. $2842 is a another ATH for gold. Silver a perky $32.26.
Gold will also be a new closing ATH in MXN and silver a 3-month MXN closing high if they just hold onto this afternoon's gains. |
I missed gold's new high of $2838 overnight and it's picking up again a bit now, at $2834. Silver creeping back over $32. Dec 2028 contract still near 3-month highs at $36.67.
Looking more like a 20-month cup and handle each day ... |
MXN gold and silver down are about 1.5-2% off Trump-inspired highs but both remain comfortably above their rising 50-day averages. |
US tariffs on Mexico suspended for one month for negotiations after Mexico agree to send troops to border (to deal with illegal immigration and fentanyl shipments?).
Most of today's silver and gold gains given up and new closing highs looking much less likely, except for USD where a close over $2800 for gold still looks probable. |
I can't keep up with the new ATHs in gold .... er, $2829 for now.
Silver not going up more but holding strong at levels that look set to see a close at new 3-month highs?
Does Trump not realise that reducing US trade will reduce demand for $s as global forex holdings? Anybody can strengthen the nominal GDP growth by collapsing the currency. Go ask Turkey or Zimbabwe. It's no wonder PMs are going up. US investors will be flee cash with his inflationary policies unless the Fed turns around and starts banging rates up again - but Trump will start arguing with them if they do that.
$2833 / £2294 |
No tariffs on PM’S ? American people will get pretty fed up very quickly when they see their shop prices rising out of control . It’s all bluster as usual from Trump . |
It is possible but the majority holding in Penoles hands would ensure they dictate the price .. and they’d want at least double the current share price . I doubt they would sell the biggest silver producer in the world ! |
Any thoughts on implications of tariffs on Mexico and specifically on Fres? |
Gold up over 2% to MXN59,167, after a new ATH of MXN59,404 earlier. Also ATHs of £2289 / Euro2751 / US$2823 earlier.
Margin increases here should Trump any volume losses. We have not even absorbed previous margin increases yet. Shares should be up on today's news and continue to rise as previous news sinks in. I imagine they should rise into results when we will get a clearer picture. |
Silver opened at MXN665 and is now still up over 1% at MXN657. FRES have not caught up with previous price rises, never mind this one on weekend tariff news |
https://www.ig.com/en/weekend-trading |
PMs should spike. Safe haven |
Hem,
Where do you get future prices from?
IG used to do it on their front page, but only shows Fridays close which is minus 45.
"I've sorted it, IG had changed to daily prices instead of weekend" |
Ftse futures -100. So prob 5% down tomorrow. |
Fres makes silver, can be sold anywhere so tariff no effect BUT tariffs may cause mexican peso to weaken so fres operating costs would drop against price of silver and if that happens fres should rise. |
The States imports US$2.54 Billion in 2021 of Mexican silver in one form or another. The States are in a supply deficit when it comes to silver. Mexico needs the cash to support its massive expansion plans under a relatively new President and the US desperately needs silver to rebuild American Industry. They'll work something out. The tariffs have been imposed because of illegal immigration, the issues arising from. The cost effective imports harming US manufacturers and labour. Canada & China for the same reasons plus the manufacturer illicit drugs in China undermining the social framework. |
What does the US tariff on mexico mean for fres |
Just had an order at 700 went through. I still have small chart gap at 676 but would be very surprised if this is revisited with the current strength in PMs and the run in to March figures. |
MXN58,157 is another new ATH for gold just now. (Up 7% in the last month and 65% in the last 12 months.)
MXN657 is another 3-month high for silver. (Up 9% in the last month and 64% in the last 12 months.) |
breakout and backtest
intraday pullbacks that get bought up are a hallmark of underlying strength
we know how this motors when it gets going..
time to say Sayōnara to the 600's
:) |
Gold new ATHs of $2820/ £2262/ Euro2704/ MXN57,947 ovenight.
Silver spiked to $32.10 before easing to $31.52. Dec 28 contract is up strongly to $36.79.
MXN656 was a 3-month high before easing to MXN649. |
$2800 dead looks like probably it for today, though MXN not given up yet. |
$2797 is a new ATH for gold.
Silver flying, too, at $31.94/ MXN649. |
I'm afraid not, small free float the majority of the stock in one man's hands. |
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