Steve Rocco, of the Rocco Report, returns with Video-Charting on all the key market indexes, including Gold, which is holding near new record highs.
- Steve notes the floor price on gold and silver bullion is based on the cost of mining.
I've been working on the breakevens for the gold and silver miners, and let me tell you, things are really changing and that's the reason why we're seeing the the price of the metals had higher now. They are heading up higher quickly. I don't know if that's sustainable. But, the issue is since the pandemic shutdown, and all the massive printing that we've seen by the central banks, especially the Federal Reserve – finally, it's the cost-push inflation has made its way into the mining industry and I'm seeing it's impacting all the mines.
He continues:
They're going to get rid of six mines that aren't top tier. Well, these six mines were pretty profitable four years ago, and so the system – things are changing very rapidly in in the mining industry which I've suggested the floor in the gold and silver prices is based on the cost of production. And so if the cost of production is going to keep going up and up, well the goal prices and silver prices is going to have to keep going up, just to match it.
- Is the future of heating hydrogen reactors and cryptomining rigs?
- Is the lack of retail demand for the PMs a positive or a negative for the metals price?
- With US equities soaring to new highs, are euphoric investors discounting the probability of a recession?
- The cost to produce silver is near the current price.
- Will silver run to $30 and break through resistance to new record highs like gold?
- Silver could present a safety net against financial collapse.
- Is the domestic economy headed for a recession?
- Will fusion be the next big energy breakthrough to save the world from peak energy?
- Technical and fundamental outlook for crude oil.
- Is natural gas nearing a bottom, setting the stage for a 100% advance over the next year?
About the author
Chris Waltzek is host, executive producer, writer/editor, best-selling author, webmaster, sound engineer and computer guru at Goldseek.com Radio. He earned his bachelors degree in Business Economics and holds a dual MBA in Business Economics & Information Systems. Upon graduation he worked as the firm-wide Industry Analyst at one of the nations largest law firms, Jones, Day, Reavis, Pogue. Chris is currently a Ph.D. student in Management / Finance at NCU.
