I watch MCP, and read that article. Previous trades have been fairly short-lived. Perhaps this one will lead to something substantial.

Matt,

     I can put a screen clipping using OneNote, but have not, in case it may do harm to your system.

Sorry, Matt, I have not learned how to do that. I say my chart because it is SPX cash on a spreadbet platform.

My 60min. chart has formed a nreat diamond.

Gold may fall further, but not because of a collapsing bubble. That stage has yet to be reached. It can be misleading to refer to linear charts over long timespans.

Look on the bright side kalinm. A rising channel has been under way for two years from the October 2011 low.

Thank you Matt. I found that very helpful and also interesting.

Molycorp continues to climb upwards in its bottoming process. Nice 10% today.

Hello rbreese,

     Am I missing something? I am using the daily chart of gold cash on my spread betting platform, bollinger 20,2. Stockcharts $GOLD shows exactly the same.

Cheers.

Having closed at a low below the bollinger and come back up to the MA, there is the potential now for a bullish low inside the band.

Molycorp prospects have been looking a little brighter lately. The Chinese policy on rare earths regulation is to MCPs advantage. Still risky because losses continue, but the chart is improving now and a decent recovery move is possible from here. Several small scale trades have worked well during the last thirty days.

Profits taken Monday. Now MCP going down again in a wedge, so perhaps another opportunity soon, provided the recent low not challenged.

     Since the bottom in March, Molycorp now appears to be forming a second higher low. A couple of small positions placed  at this level.

Still trying with this, after a number of unsuccessful attempts. It seems a decent low risk entry point.

I traded Arabica futures a number of times in January, once in March. Absolutely flat result for my trouble. I continue to monitor.

The daily chart of Silver is showing Bollinger bandwidth at 0.4, the narrowest for years. In addition, today's candle has a significantly long downside wick, same length at present of that of 1st March.

A number of these appear to be picking up now. Larger companies, AEM, FNV, ready to break out of triangle patterns, SLW has already done so, and NEM with an inverse H & S about to confirm. Smaller companies BRD, SVM, SVL, SSL, all trying to pull away from bottoms, some of which inverse H & S. Currenty long NEM and SLW, and looking to long AEM and FNV whenever they decide to follow the others.

Thank you Steve, this one looks really interesting. Those Bollinger bands on the daily are at their narrowest for years.

     It has not been customary for mining companies to produce all-in costs, which is a difficult task. According to the Thomson Reuters Gold Survey 2012, the average cost across the gold mining industry for mining an ounce of gold was $727 per ounce. This figure includes only those costs directly associated with the production of the gold. The total all-in cost of mining an ounce of gold across the industry is currently around $1,300 and for some producers it is considerably more. For example, it costs Gold Fields, which is one of the world’s largest producers of gold with annualized production of 3.5 million gold equivalent ounces, $1,788 an ounce. GFMS’s total cash cost variance (2010 versus 2011) shows that the main areas of increase are 1) declining global average mill head grades at 33%, FX at 20% and labour 20%. Energy costs are less than 10% of the increases.

      Investment bank CIBC has produced a complete breakdown of costs. Operating costs are $700/oz, but there is also sustaining capital, construction capital, discovery costs and overhead. CIBC pegs those at an average of $600/oz. Adding $200/oz for taxes on average, results in $1,500 to produce an ounce of gold.

    In 2012, Barrick produced 7.4 million ounces of gold at total cash costs of $584 per ounce. The all-in sustaining cash costs were $945 per ounce andthe figure in 2013 is expected to be around $1,000-1,100.

But it still does not accurately reflect the cost it takes to mine an ounce of gold.

    Goldcorp  for 2013, the company estimates all-in sustaining cash costs of $1,000 to $1,100 per ounce compared to approximately $865 per ounce in 2012 and approx. $ 800 in 2011. Cash costs are forecast at between $525 and $575 per ounce on a by-product basis, and between $700 and $750 per ounce on a co-product basis.

    In very round figures some companies that I follow are Osisko $1000, Argonaut $850, Rio Alto $750 and Eldorado $500.

    Argonaut has moved up 18% in the last 19 trading days and Endeavour Silver 25% in 10 days. Osisko may be forming an inverse H & S.