[2022/12/6] Gold Crash Over?

Past month was rough with gold and silver mining stocks dropping literallly like a rock-

Magna Mining (#MAG) and Hecla Mining (#HL), two of my large long term positions, took such beating that I put more money in and took even more beating-

But it’s ok- 20-30% volatility and 50% drawdown is normal in miners.

But never the less, I won’t lie that it hurts. I am usually quite calm but when I saw two of my large positions drop and drop-

I was like- Man…I wish I had more money and waited a bit longer to average down-

Oh well, lesson learned-

Still thankful that the portfolio is not devastated and that I have money in the bank account.

Only invest what you can lose-

Also, don’t capitulate and sell too soon.

I strongly believe that miners will come back given the inflationary pressure and the commodity supercycle.

Sprott Monthly also predicts that the gold has hit bottom or will hit bottom soon.

Now the waiting game, I may sell some puts the lower my cost. But I will wait until the volatility is lower-

As always, quite interesting times-

Long gold and silver mining (#AG, #MAG, #HL, #NEM, #GOLD).

Rejoice at all times. Pray without ceasing. Give thanks in every circumstance, for this is God’s will for you in Christ Jesus.

1 Thessalonians 5: 16-18

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