RE:Shorts and scammers Daily Gold miners bull Index dipped. Industry wide sell off. I don't believe 'Yahoo message board' is orchestrating this sell off. Anyone who sold at $0.70 is laughing, and anyone who didn't is probably pissed right off, considering gold price was over $1,950 for 5 weeks straight. Clearly Argonaut Gold is weak company right now, reliant on gold breaking out or making an ath, and/or Daily Gold miners bull Index to pump. News in May could be positive, but their up coming earnings report will most likely reflect the costs over-run at Magino. I'm still holding shares based on the fact the company should produce around 300k ounces with an average aisc close to $1,000 an ounce, and my average is below ceo's and his sons average, so If they lose, I lose.
However, if gold is to retrace, news in May isn't the greatest, and the Daily Gold miners bull Index dips again, Argonaut Gold could potentially sell off, and find itself a new bottom.
The question now is, will US feds raise rates? I believe Rate hike would be contrary to benefiting the US economy. Democrats are pleading for McCarthy to pass deal to raise debt ceiling. There is no way the Republican house will ever pass anything close to being acceptable to the Democrats. Fed rates are correlated to yields, if US government is on the brink of defaulting on its debt, why would the US government raise their costs of borrowing capital through the issuance of US treasuries? The US government pays the yield to whom ever purchases US treasuries. GOP is going to let the dollar tank, and potential allow the US to default under the leadership of the Democrats. This will secure the 2024 election for the Republicans, no one in the right mind will vote Democrat after this devastation of the US economy under the leadership of the Democrats.