Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Sentiment towards bullion trade remains mixed. Momentum favors the short side of trade, but caution is required in expecting a collapse in GLD and SLV values.
There were major buyers in at 1490 on gold and 38.50 recently, which are major potential swing point areas. The news wires are covering the increase in margin requirements as a reason for recent declines. Gold is consolidating just above the 20-day SMA at 1500. The Apr. 29 silver signal sent to clients, short from 47.50, has hit its two main targets and is now consolidating just above the 50-day SMA area at 38.70. No signals are forming in the near-term.
