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San Diego | MUX has a big problem being in argentina, that's why it dove near 2.00 earlier in the year
grains bulls have been mentioning argentina imploding as well..
http://www.reuters.com/article/2012/11/23/us-argentina-bonds-invest...
(Reuters) - Fears of a looming default on Argentine bonds are sending all but the bravest investors to the exits after a U.S. judge ruled against the country's government in a decade-old dispute over sovereign debt.
golds stocks have not done well, one reason is that nowadays the funds can use GLD SLV GDX style etfs instead of taking single stock risk, another being the costs of building mines at the $1Bil usd minimum, equipment and energy costs thru the roof (takes alot of caterpillars and crude oil)
...junior miners have had about their worst year in history, that's because unlikely they'll get any mine built due to the above
it's very unlikely currency will fail...the world keeps on muddling thru... if currency did fail nobody would take precious metals in payment for anything, life would be more like the nbc show 'revolution' where the gun holders kill you..
the 30 year bond being near a 20 year high, makes nibbling on TBT an inverse etf a good idea...if bond yields finally do get off the bottom and start uptrending then it will hurt gold as it's always done
always watch NIKK at nite!
http://stockcharts.com/h-sc/ui?s=$NIKK&p=D&yr=1&mn=4&dy=0&id=p24919...
cheers!
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Mining CEO discuss future of gold market
