Is it time to throw some money at the miners?

matthewwarn (70) in steemsilvergold • 6 years ago (edited)

I've never been a big fan of mining stocks. I've dabbled and mostly lost so I've not really been in that space for the past 20 years or so. But is now the time to start DCA into a position into Gold mining stocks? If there is a rally in the price of Gold, we could see a much larger gain on a percentage basis on the mining stocks...

The Gold Bugs Index (HUI) is off its lows but still enticingly low. A rise to $1,500 gold could mean a 50% or 100% increase in the HUI. If we retest the top in Gold over $1900, that could bring the HUI back over 500. A 70% rise in the gold price could mean a 400% rise in the mining stocks.

I'm honestly looking for feedback. Anyone else thinking about or throwing any fiat at the miners at this point?

@matthewwarn

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steemsilvergold gold silver hui markets

6 years ago by matthewwarn (70)

$24.47

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buggedout (68) · 6 years ago (edited)

I've been sitting in a few gold miners for a while now. It is a great way to leverage the gold price AND hedge the local currency with genuine business.

Beware the juniors and the speccies though. Actual producers with proven reserves and AISC is where you want to be IMHO.