There Are Many Factors To Consider Before Investing In Mining Companies
With the roller-coaster market of the previous few months, just about everyone who relies on investments for either their future retirement or their current income is biting their fingernails. Many retail investors, fearful of the volatility in precious metals and related mining stocks, have held back from these investments. Some worry about getting in at the top on such a volatile commodity but, once the price pulls back, they fear the momentum has turned and don’t buy. Just the same, with the ride blue-chips have taken lately, some are thinking about the move.
Investors contemplating a plunge in the precious metals market should start with being familiar with what variables control the prices of precious metals. Needless to say, gold and silver prices, like prices of any commodity, react to supply and demand. Since events that affect supply and demand occur every day around the world, a good way to get up to speed swiftly is to keep track of the gold and silver news.
A key factor supporting gold prices through the recent rally has been the low rate of discovery of new deposits. This low discovery rate signifies that, in the future, supplies will be limited. When supplies are limited, prices climb. As a result, part of watching gold news is always to keep track of the exploration results of mining companies. Discovery of a major deposit could have a negative effect on prices. On the other hand, poor drilling results from a project which was supposed to do well could drive prices higher.
Silver news also is important. Mining companies usually don’t explore for silver directly. Instead, they find it as a byproduct of other kinds of deposits. Gold and silver have somewhat different fundamentals in that most gold is used for investment or for jewelry, while most silver is used for industrial purposes. Thus, another important factor to track is the industrial consumption of silver.
One final important item to observe in gold news is the purchase or sale of gold by central banks. Central banks around the globe hold vast stores of gold. When they sell, the price falls. When they buy, the price rises. Central banks also loan their gold for investment purposes, so a change in lending policy can affect gold prices too.
For investors who have spent their lives in the stable world of blue-chip stocks, entering the precious metals market may be hair raising. Today, however, with blue-chips bouncing around like grasshoppers, some are willing to make the move.
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