Over night market goes down heavy leading into the new week, whats next?

​So I woke up this morning and see that the bullion market is taking another hit. The foreign market is leading out to what could be another heavy down week for the gold and silver market. I have not even mentioned Platinum or Palladium, but they both have come down as well on a pretty high amount as well. So lets talk about the fact that the mining companies are coming to a tough choice soon.

There is a big possibility that some mine companies may stop production, and shut down due to a lack of interest in the commodities market to make it worth them continuing mining. This is a huge deal! Also the US dollar has begun to rise more since Bernanke spoke about shutting down the bonds program in the near future. So with that being said, I would love to hear from some of you about how you view this market going over the summer and if the market recovers once the fall arrives. I know there is a typical down trend in the summer, but is this year different?

 

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Silver's at 19.90, too bad the market for buying will not reflect this.( For the most part)

People are still trying to get 20-25 bucks for a 90% Kennedy. My local LCS on Friday were selling them for 11.00 each. But do you think the mint will lower its prices? As far as the dollar getting stronger. Not in my opinion. When it's 3.50 a gallon for gas.

 

I think the market is going to be like a yoyo, watching now as the NY market is now open and all of the sudden the losses from overnight are fading away. I guess that the overnight market made it a buyers morning, the question is does that continue all day, or does the market go back down later once all the buyers got their fill.

 

http://www.kitco.com/news/2013-06-24/KitcoNews20130624KB_technical.html

http://www.kitco.com/news/video#_48...mode=view&p_p_col_id=column-1&p_p_col_count=1
Wayne rodgers bashes the govt, great insight.

How kitco views the market as of right now.

 

Just shows how incredibly biased we stackers can be. Many times in history, during bear markets, prices of commodities fall below cost of production and stay that way for extended periods of time. This doesn't mean anything. Some mines will lower production, but remember that silver is continuously extracted from the ground and very little is "lost forever". A lot of the silver in electronics, jewelery etc is recycled.

I'm not saying that the bull market is over, but don't expect any quick rebounds. We will likely get back to "shocking lows". Remember that China's slowdown hasn't started yet. Maybe in a year, China will really slow down and then we can see silver at under $10/oz. Gold at $600 again. Definitely possible. I'm only buying when i find private individuals selling for low premiums. I'm not buying anything from dealers.

 

%90 is 19.5x face at my lcs

 

Here are some top stock symbols for gold and silver mining. ABX, AEM, AU, AUY, GG, GOLD, IAG, KGC, MUX, NEM, NG, NGD, TTM
All of these stocks are essentially rising and falling to the tune of the overall market. But remembering back to 2012, this year wasn't favoring pm production. It was instead favoring heavy equipment manufacturers used in mining and anything having to do with 3D printing, home tanning products, online eyeglasses, etc. However, some top analysts are openly discussing gold again in relation to inflation. They seem to finally be agreeing that inflation will push pm higher again.

 

I see silver and gold dropping more until we get to the fall, then once the markets stabilize, and we figure out whats going on with our economy and China's I can see a increase going into December. I think this could be a long down run to be honest overall. May take awhile for PMs to recover.
Forgot to mention, but the mines are a real issue as well, you may see more shut down due to the lack of interest. Already some have layed off their work forces.

 

I agree with you. China is a heavy weight. I also believe all things cycle and that cycles favor precious commodities.