Commodities breaking bad ... for good
What again?
Many of you at
TCR already browsed this report: largely about
Asanko Gold in Ghana. (I put in an order to purchase some AKG today; so yes, I still am in love with western
Africa.)
I wanted to add that today [Tuesday], I saw two more 'financial writers' making the case for yet lower gold: as low as $931 per ounce in one report. Talk about consensus bandwagons.
So, we at
TCR update the latest on our possible confirmation tool for a
gold rebound and lasting rally -- in the accompanying graphic --
cartoon style. Plus in full splendor at thomcalandra.com. For those unsure about spending $139 for a year of TCR Break Dancing.
TCR audience, and our
Stockhouse freebie audience, gold mining costs are still way too high for comfort. The other day, I saw some bank’s average AISC, all-in sustaining cost, for one ounce of gold, come in at $978 an ounce or so.
Possible Confirmation Tool
I wonder how
brutally honest this is. Most of the banks that follow the miners report about the same average all-in sustaining cost. Coincidence?
This report for our
TCR audience also has a
confessionthat I make — it is just before the
#actionable graph in the link. Plus that
confirmation tool-- the most recent article at TCR explaining how higher gold can follow a turn in the yen-for-Swiss-franc-trade —
here.
To explain: a break-out -- a price for 100 yen that commands more than 0.80 of a Swiss franc. You want in this
tool (cartoon) to see Japan's watery yen rise in price against the sturdy Swiss franc. Today the exchange rate is 0.778. This is how a 5-day chart looks of yen against franc with the 0.778 being on the far right:
If you want to think of this in reverse terms, take a look at a 5-year chart of how many yen 1 franc purchases:
That solitary franc commands about 128.4 yen today at the far right -- today. The far left is 2010 and here is
the chart link for that one.
Please join us for more about this possible confirmation dynamic; and a look at
Asanko Gold and the brutal honesty of what it takes to produce an ounce of gold.
I promise I won't be forecasting lower gold prices. I gave up forecasting. For that, the
confession — it is just before the
#actionable graph in the link.
Please read on: Breaking Good At TCR
It will not disappoint. --
Thom Calandra
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Thom Calandra & TCR are researchers and investors. They are not registered investment advisers. The research and material they offer to subscribers are meant as editorial opinion.