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Bottom or dead cat bounce?
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<p>[QUOTE="medoraman, post: 2247666, member: 26302"]I guess I just don't know. Without strength in Asia buying I cannot see it moving strongly up. We might be near a bottom but I simply see sideways trading unless something positive starts happening in Asia. Western markets are simply not much of a factor for PM anymore.</p><p><br /></p><p>My worry for prices, (not for me since I would just continue to buy), would be the large mines coming online that were started when prices were high. Rio's large copper/gold mine in Mongolia is one, but there are many others. What was invested before is sunk, and even at lower prices they need to bring this production online. So, short of positive Asian news, and given new production and continued low oil, I am not sure we have seen the bottom yet. Interestingly, a bump in industrial metals might make pm go lower. If copper can recover, silver would take a pretty big hit.[/QUOTE]</p><p><br /></p>
[QUOTE="medoraman, post: 2247666, member: 26302"]I guess I just don't know. Without strength in Asia buying I cannot see it moving strongly up. We might be near a bottom but I simply see sideways trading unless something positive starts happening in Asia. Western markets are simply not much of a factor for PM anymore. My worry for prices, (not for me since I would just continue to buy), would be the large mines coming online that were started when prices were high. Rio's large copper/gold mine in Mongolia is one, but there are many others. What was invested before is sunk, and even at lower prices they need to bring this production online. So, short of positive Asian news, and given new production and continued low oil, I am not sure we have seen the bottom yet. Interestingly, a bump in industrial metals might make pm go lower. If copper can recover, silver would take a pretty big hit.[/QUOTE]
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