If I had a nickle for every time I called something wrong lately, I would be rich that way by now.
So here is my latest prophecy... Gold has taken a fairly significant drop since the election, as the world obviously feels a lot safer (leave the politics alone) regardless of if they are right or wrong the gold price has been on the slide, and taking silver along with it.
The real question we need to ask ourselves here is how far will it slide and when will it start to recover?
Sooner or later this downward slide is going to end and silver is going to stabilize. Last night it was close to $31 but gold took a tumble and then silver followed.
I don't believe there is anything wrong with the stock to cause any sort of panic selling, but I don't think we can start to go back up until gold sorts itself out and people find a new comfort level. So here is my new and revised not so educated guess on the stock. My optimism of a quick rise is on hold for the time being, and I think we are in a bit of a wait and see situation.
The sellers aren't eager to venture into the 2.3 territory. Although there has been some sales over the last week, it has so far been a point of resistance, and I believe it will continue to be, as long as we don't see any really big changes in gold in the downward direction.
For me I am still in acquiring mode, but only at the right price. I feel we are close to the bottom of where it is going to go to, but might not be there yet. So I am cautiously watching the gold / silver prices to guide my buying.
(20min delay)