Participation here is open to both novices and pros with the understanding that the seeking of knowledge should be accompanied by a willingness to share it too.
For background, this board originated to benefit those who understood that with the outbreak of Covid-19 in 2020, the economic consequences would bring a boom to monetary metals without precedent.
From mid-March 2020 to nearly the end of July of that 2020, the price of silver rose 100 percent. The price of gold went up over 30 percent. Setting aside peripheral reasons for these moves, the larger part of it arose from a massive expansion of printing-press money, along with the artificial suppression of interest rates in the US.
Though the Federal Reserve began to push interest rates higher in Q1 of 2022, pausing in late 2023, inflationary pressures on the US and the global economy remain. But now as of May 2024, signs of recession are appearing in the US putting new pressures on metals prices, and the Fed may soon announce a lowering of interest rates as soon as late July 2024. That will add pressure to PM prices. In fact, May 2024 saw gold prices (POG) reach an all time high of $2,425.42 while some market observers began calling for prices to reach $2,700 to $3,000 by the end of the year. The first half of the year saw a closing price of $2,326.72 and the price has been higher since then.
Please join us here in discussing metals markets and mining ventures. Traditional rules of civility apply and off topic exchanges will be allowed to some extent. Along the same lines, and as politics can not be separated from anything related to economics, please attempt to be as unbiased as possible, and be respectful of opinions that may not align with your own.
ValuePro (a.k.a. VP in AZ)
[The image above is of the remains of the superintendent's office at the historic Silver King Mine at Pinal (now Superior), AZ. It was and remains the richest silver mine in AZ. It dates from 1870. The office was destroyed by fire about 1990 and no structures now remain at the mine site. Exploration resumed about 2005 but ceased a few years later. The mine is within several miles of what may be the largest copper discovery ever. That is a couple of miles away at Superior, AZ under the combined ownership of BHP and Rio Tinto operating as Resolution Copper Company. The discovery zone is below the abandoned workings of the old Magma Copper Mine, which closed in 1982 after 71 years of production.] |
