Take physic, pomp

Gold/Silver ratio, miner prices, GS, things of the ilk

On this…
…, the gold/silver ratio, the song remains the same. After flicking through a few other trackers, the overall sentiment is one of a sector in wait’n’see mode, looking for a catalyst to take it lower or higher. So for the meanwhile we drift, we follow a weak trend, we wait (and if only for that your humble scribe’s general call in this period to pick at and buy decent beaten down mining names is reiterated; all good things to those who wait, Clarice).
Switching gears slightly, as it happens and after making a large cup of sweet tea, sitting down, pulling up that GS note yesterday evening (ty reader N) and reading it carefully, I happen to agree on their value-oriented call that producers concentrating on cash flows and bottom lines (rather than the growth model miners, or those running to stand still at current bullion prices) look cheap and are buys on their fundies. You should know by now that I’m no fan of the house and think them complete fuckers for a whole multitude of reasons, but credit where due, that note was a good argument and well put.
GS is still talking complete stupidities about gold price, however. The juxtaposition is best explained (in my own biased brain) by one set of GS analysts doing decent, oldschool, straight, numerical, value analysis work on stocks and seeing them cheap, while the bullion lower call from the very same company is sheer political bullshittery from a different place, department and mindset. Así termina mis dos centavitos.

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