212% Profit in Only 17 Days For SK OptionTrader Subscribers

This week SK Options Trading is proud to announce its biggest winner yet, as we close a trade with over a 212% profit in under 3 weeks! This beat out our previous record of 197.14% in August 2011.

We believed that Hecla Mining had yet to catch up to the price falls in precious metals in early February, and that it would be particularly vulnerable to a drop in silver prices based on rigorous analysis of their mining projects.

To take advantage of the impending fall, we signalled to our subscribers to “buy HL Sep 21 '13 $4 puts at $0.16 with 5% of our capital allocated”; a trade that we believed offered the best risk-reward dynamics.

As the chart above shows, SK Options Trading bought puts at just before a major fall of over 20% occurred in the price of Hecla shares. This was in line with

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Randgold Resources to remain dividend-driven midtier producer

TORONTO (miningweekly.com) – Africa-focused miner Randgold Resources on Wednesday affirmed its intention to remain a dividend-driven midtier gold producer in a global mining environment of rising costs and difficult equity and debt markets.

CE Mark Bristow said that after the past number of years’ sustained gold price above $1 000/oz, any midtier gold miner that was in production should by now have shored up significant free cash flow

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John Embry: Pressure on Gold, Silver Likely Artificial – Investor’s Digest

“The suppression of gold and silver prices – something that’s increasingly obvious – is having a healthy impact on physical demand for both metals. China…became the world’s biggest gold-producing nation, keeping total output iwthin its own borders. China then embarked on an external buying program which saw it import nearly 800 tonnes of gold in 2012 alone. Elsewhere, India’s appetite for gold and silver is so strong that the government is trying to discourage demand

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Every Picture Tells a Story: Gold Prices

The chart below, courtesy of Bloomberg was sent to us by one of our very kind readers. It’s at times like this we find ourselves in great difficulty as many around us capitulate and dump their holdings. Each to their own as they say.

Our thoughts, for what they are worth are as follows;

On the downside,

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Socialism Is Why Greece, Italy And Detroit Suffer

 

Government Failure: From Greece to Portugal to Detroit, it would seem some alien being called "austerity" has descended on their bankrupt economies. In reality, it's the consequences of socialism itself.

Socialism: Railing against "austerity," from Greece to Italy to Portugal to even Detroit over the weekend,

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American Gold Eagle Bullion Coins Continue Winning Streak

 

The following missive arrived today from Coin Update which we thought may be interest to you, especially if coins are your ‘thing’

Although sales of the United States Mint's American Gold and Silver Eagle bullion coins showed declines from the seasonal spikes seen in January, monthly sales levels were significantly higher compared to the year ago period.

For the month of February 2013, American Gold Eagle bullion sales reached 80,500 ounces,

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You Want Dates For The End Of This Reaction?

Jim Sinclair

The following is a missive that we received from Jim Sinclair who is the host of a web site called Jim Sinclair's MineSet. The above link will take to his site and his updates via email are free, so you have nothing to lose by signing up for them.

Here we go: 

My Dear Extended Family,

You wants dates? Ok.

The bet on the short of gold side is that the Sequester takes place.

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The Pound Races to the Bottom

The race to the bottom continues with first place oscillating between the main players, the Euro, the Yen, the US Dollar, etc. As the chart above shows the British pound has taken a dramatic plunge this year.

It may not be all bad news though as this snippet from The Telegraph points out:

Beggars can’t be choosers, and George Osborne – under attack on virtually all sides – must gladly seize on whatever support he can find.

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Alamos Gold CEO: Turkey Wants To Build Mining Industry

 

(Kitco News) - The chief executive of low-cost, mid-tier gold producer Alamos Gold Inc. (AGI) says Turkey wants to become a significant mining jurisdiction, and he also looks for more mergers within the gold-mining sector.

Canada-based Alamos Gold owns and operates the Mulatos Mine in Mexico and produced 200,000 ounces of gold at a cash operating cost of $355 an ounce in 2012, which company officials have described as their best year ever. Alamos also has advanced-stage exploration projects in Turkey.

The company obtained its Turkey properties in 2010

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Gold futures score biggest gain of the month

SAN FRANCISCO (MarketWatch) — Gold futures rebounded Monday from last week’s selloff to score their biggest gain of the month, as analysts say a recent report hinted at a potential bottom for the metal’s prices.

Investors also weighed gold’s safe-haven appeal against a backdrop of early exit results from Italy’s election and a rating downgrade on the United Kingdom.

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