RE:RE:Gold is useless................BucccaneerILN wrote: alvarez2 wrote: But did anybody buy any of the midcap gold miners over last few months ?
Lol. I flipped into abx this morning.
But heres a thought on gold miners:
1 yr ago diesel was $.95, pog 1800$, and fuel was 25% of mining cost. Today diesel is $1.70/lit. (((1.70- .95)/ .95 x .25) +1) x 1800 = $2155 needed today to offset only the diesel increase to standstill on earnings. And fuel affects almost all other input costs in gold mining. I should be putting all my money into oil and nat gas.
Bucco
Should have put a big chunk of coin into oil & G when oil went to zero after the covid crash, and Saudi/ Russia price war and all O&G stocks were selling for pennies on the dollar 2 yrs ago. They've had one heck of a run already..............I'd be more inclined toward gold stocks if I were just entering now. IMO