Are Gold Miners Making Money at Newmont Mining Corp?
Gold is one of the most interesting economic barometers around because its price is a good measure of the fear
Read MoreIn individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. Friedrich Nietzsche
Gold is one of the most interesting economic barometers around because its price is a good measure of the fear
Read MoreThis is the biggest menace to gold mining and it is one that a lot of traditional investors cannot see coming. Altcoins like Bitcoin, Ethereum, Litecoin, NEO, and DASH serve as a hedge against inflation. Yet they are far easier to buy, sell and trade than gold.
Read MoreOne potential culprit for gold’s weak performance is cryptocurrencies. The altcoin market might be sucking up money that might normally be going to gold.
Read MoreThis indicates that bitcoin has replaced gold as the world’s hedging mechanism of choice. Average investors may actually prefer bitcoin to gold in uncertain times which is very bad news for gold bugs and gold-mining stockholders.
Read MoreThis sampling shows that the gold-mining industry is already in deep trouble. My prediction is that worse pain is yet to come courtesy of bitcoin. Instead of recovery gold miners face low prices and complete collapse in 2017. Expect some terrible earnings reports for gold miners that will send their shares plummeting in January 2017.
Read MoreNewmont Mining (NYSE: NEM) reported something very unusual for the modern gold mining industry – a slight revenue increase for first quarter 2016.
Read MoreThe logical conclusion we need to make here is that we are at the beginning of a long-term slump in gold. The combination of low interest rates and high stock market returns is taking all the luster out of the gold market, and it is not likely to return any time soon.
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