Tag Archive for: buy low

Selling Low and Buying High: Hedging by the Gold Miners Part II

Gold Miners Buying High and Selling Low

In Part I, I made several points. First, that in the last gold bear market, miners capitulated after prices were low and falling for a long time. Then they sold massive amounts of their future production forward. Years into the subsequent bull market, they capitulated again, this time buying back the rights to their own […]