Hochschild Mining Share Discussion Threads

[lauders] 23/11/2016 16:05

As CC says perhaps more of a sell-off to come?

From a technical trading perspective the risk is that while there is no daily close back above recent $1,230 resistance, the downside here over the next 4-6 weeks could be towards the $1,113 area – the initial resistance of 2016.

[dt1010] 23/11/2016 15:36

excellent top up opportunity.

I do not believe this is the end of the bull for gold and silver.

Merely shaking out the weak holders and speculative positions.

It's not about finding the bottom either.

NOW is the time to buy.

IMO DYOR

[lauders] 23/11/2016 15:29

This rout in bonds has coincided with a counterintuitive fall in gold and silver prices (though other commodity prices have been rising). This surprises me, because although gold and silver can be affected by higher interest rates, it is my experience that as prices in economies rise, such inflation always outpaces rises in interest rates. This persists until at least the end of the rates-up cycle. And higher inflation is great for precious metals.

Of course, Prime Minister Modi of India instituted a call-in of supposedly high value bank notes, with $80 billion worth of scrumpled 500 and 1,000 rupee notes being tendered for lower denominations. This has been causing havoc, and possibly some forced selling of gold. Indians are massive buyers of gold, and I expect that this note-swapping effect will be temporary as far as India’s love affair with gold is concerned. Modi is trying to reduce black market and untaxed elements of the economy, and to clamp down on corruption. However, his currency move is likely to severely reduce growth as monetary velocity crashes, and this isn’t great for India, at least in the short term.

So, given that gold and silver are probably down temporarily, I would now load up on the precious metals complex, through physical, futures, ETFs, or gold and silver miners. Fresnillo (LON:FRES) listed in London, is best for silver, and Condor (LON:CNR), also London listed, is a good play for gold, in my opinion. (I am a shareholder and director of the latter.)

OK, so HOC is not mentioned but FRES is and that is a silver miner. HOC is better IMO, but there again I don't know FRES enough so I can't really say that with confidence. I am biased but not too happy at the moment. Good timing to whack PM's just before thanksgiving!

[gaaston] 23/11/2016 15:25

I am buying silver physical @ each low point, vaulted at .5% comm

[pineapple1] 23/11/2016 15:24

There 's a small gap around 195 i believe.

[dt1010] 23/11/2016 15:19

Interesting PM movement...

Here come the lows.

[lauders] 23/11/2016 15:04

What did you tell us DayBreakers? May have missed a post but:

DayBreakers20 Nov '16 - 11:47 - 8413 of 8472 1 0
There are mixed views on precious metals.

Half predict fall to lower lows long term. 2016 has had a bear rally.

Half say higher highs long term and this is a short term correction.

Charts point to a steep decline after a short term bear rally

Fundamentals predict PM's to see higher highs.

Which one are you?

I was with the select group in the middle who didn't have a clue!

[hectorp] 23/11/2016 14:51

The unbelievable is the norm, Chip.
Just closed out a trading silver short ( hedge) no doubt I was too early but a 48 point drop was worth it, so its done.
Gold had the larger phys " problem" for them so as you say it could go lower on 1200 automatic liquidations. So $1150/60 end of play tomorrow is possible.

Still holding HOC Fres Cey and FR long though. THis is possibly a trading blip and recover next week.
H

[daybreakers] 23/11/2016 14:49

Silver will hit $15's, hoc revised target is 185

[kfr20] 23/11/2016 13:51

Dollar is only going to strengthen. Its demise has been overstated far too often.

[chipperfrd] 23/11/2016 13:41

They have finally managed to get the gold price below $1200. This will almost certainly trigger a large amount of forced Long closure on the COMEX - so perhaps that huge amount standing for December delivery will get cut down to manageable proportions.

It truly is unbelievable how manipulated this market is. Just a relatively few days ago, with a Trump win becoming a reality, the price shot up to $1335. The turnaround since then is amazing. From a market that was beginning to get out of control it has been brought to heel in very short order!
Chip

[pixi] 23/11/2016 13:37

Chip

I can see them OK too.

PM's down on dollar strength = 101.54

[onedayrodders] 23/11/2016 13:31

I keep saying this but Nymex always push down .. just look at the KITCO chart above and last 3 days

[chipperfrd] 23/11/2016 12:44

rrr, I am relieved about that as it is always a bit of a hassle for me to try and paint up these self-generated charts from my Excel sheets.

I only try and sample the SGE premium twice a day (but sometimes only once if I am away, etc) so the resulting chart does jump about a bit, but I think they serve to show the prevailing price differences between the derivative LBMA/COMEX, so called 'price discovery', and the physical market out East.

The trend since early October is showing a rise in this price disparity in spite of (what I assume is very profitable) arbitrage between these markets.

Make of that what you will!
Chip

[rrr] 23/11/2016 12:31

I can see them ok.

[crosseyed] 23/11/2016 12:24

Am I alone in not being able to receive Chip's graphics?
c

[chipperfrd] 23/11/2016 12:08

Even more obvious with gold.



Chip

[topicel] 23/11/2016 11:55

Conversely, I was thinking just that H insofar as why couldn't China take full advantage in some form or another of Thanksgiving?

They aren't playing paper games though, as they are just busy acquiring the physical stuff instead. But perhaps a big bullion buy starting 'Black' Friday...lol.

Chips latest numbers make me think even the Comex rogues are aware that a scam too far might not be a good idea this month. Then what? If the deliveries are still so high once the open interest for December is closed?

Topicel

[chipperfrd] 23/11/2016 11:53

Hi H,

Yes, no surprise that PMs dropped significantly during the 'golden week' holiday. Pretty easy to spot on my Excel chart!!



Chip

[hectorp] 23/11/2016 10:17

chip thanks for that update. I am also thinking, that the market can be manipulated dueing holidays, though it seems easier done when it is China on vacation!

[lauders] 23/11/2016 05:11

Thank you SG! I shall follow and hope it helps :-)

[saturdaygirl] 23/11/2016 04:14

Try this site or just use the advfn charts

I think this one is on the fast setting being 14 1 3
where the advfn one is 14 3 3 .