Right. Coeur Mining (CDE 5.06%). Down 6.6% this morning. Apparently, the market decided that war – actual war – isn’t quite the gold rush everyone hoped for. Honestly, the naiveté. You’d think after, oh, centuries, people would realize conflict is rarely a straightforward investment opportunity. Everyone piled in, predictably, when things kicked off in the Middle East. A safe haven, they called it. As if gold bars are going to offer emotional shelter. Still, it gave the stock a little bump. A temporary, shimmering distraction, of course. It never lasts.
Gold and Silver: The Usual Story
February closed around $2,078 an ounce. Then, the predictable spike. Up to $2,416 when the US and Israel started… well, doing things. Briefly. Before gravity remembered it exists. Now? Back down to $2,079. A 1.5% drop. Silver’s following suit. Because, naturally, it does. Closed at $93.73, peaked at $96.10. Now it’s at $83.90. A slightly less dramatic fall, but a fall nonetheless. Coeur mines both, so they’re getting a double dose of disappointment. Which, let’s be real, is entirely deserved.
Two Things They Don’t Tell You
Why the tumble? Oh, it’s so simple. The US dollar, for starters. Also a safe haven, apparently. People love picking sides, don’t they? The dollar index is up 1.7% since the… unpleasantness began. A stronger dollar means you need fewer of them to buy an ounce of gold. It’s basic economics. Though, you wouldn’t know it from the way people throw money at shiny things during a crisis. It’s all very… human.
And then there are interest rates. Always interest rates. When they go up, gold suddenly looks a lot less appealing. Because, unlike gold, bonds actually pay you. It’s a revolutionary concept, I know. Investors start selling off their gold to snap up bonds. And, surprise, surprise, the price of gold drops. It’s not rocket science. It’s just… a bit depressing, isn’t it? The whole thing. All this frantic buying and selling, based on fear and… what? Hope? It’s a gamble, really. And Coeur Mining? Well, they’re just along for the ride. A slightly bumpy, downward ride, at that. Honestly, I wouldn’t touch it with a barge pole.
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2026-03-09 18:12