Mexico’s 84-Year-Old Mining Mogul Just Made a Cool $2.2 Billion … Alberto Bailleres saw his net worth swell as Penoles rallied … Miner Penoles is the world’s biggest silver producer … – Bloomberg
When miners move, they move hard and fast.
That’s what happened toward the end of the 1970s and it is happening today as well.
The interrupted upwards curve of metals prices against the dollar has resumed.
The manipulations have seemingly ceased for the moment. (See previous metals articles.)
Perhaps the Chinese are buying.
Having bought long ago, Alberto Bailleres has certainly made money.
Alberto Bailleres. The 84-year-old Mexican mogul, who controls silver and gold miners Industrias Penoles SAB and Fresnillo Plc, saw his net worth swell by $2.2 billion in June to $13.1 billion, more than any other magnate in the world, according to the Bloomberg’s Billionaires Index.
Penoles is Mexico’s top-performing stock this year and Fresnillo is London’s big winner as investors flock to precious metals.
Bailleres owns silver miners. We don’t own any but we’ve been publicizing one in articles – especially since silver and gold began blasting upwards.
You can see contact information for our sponsor Golden Arrow at the bottom of this article, or an interview HERE.
As already noted, Bloomberg is never enthusiastic about metals progress. This article, like the one we analyzed yesterday, reflects that lack of energy.
According to Bloomberg, Brexit is the main trigger for what is going on.
As stocks, bonds and currencies slide worldwide, safe havens like gold and silver benefit. Silver is up 45 percent this year and that’s good news for Penoles, the world’s biggest producer of the metal.
It’s good news but it doesn’t fully explain the violence of this move.
For one thing, the 2000s presented investors with a “golden bull” after 20-years of a “fiat bull.”
The profile of the 2000s is a lot like the 1970s – on steroids.
But something happened to gold in the 2000s. Its growth was cut short.
Markets follow logical courses. In the 1970s, gold grew from the physical to the paper to the miners.
That’s how things are supposed to work. When the physical gets too expensive, traders migrate to an more efficient instrument with increased risk.
But that never happened. That’s how we knew the cycle had been interfered with.
But now it seems to be returning to the arc we would ordinarily expect.
The golden bull must follow its path. Gold and silver both must surely grow stronger – until finally the buying fever sets junior miners on fire.
Some say ETFs will interfere with miners’ progress. That the historical pattern has been short-circuited. This doesn’t sound right to us.
No, prices will probably go up – and up – until they cannot. And then the market will implode as it has before. This may take months or years.
Conclusion: Those who buy on time and sell on time can make fortunes. The trick, as always, is in the timing. Alberto Bailleres obviously understands.
If you have questions about Golden Arrow, you can reach representative Shawn Perger here: Shawn: 1-800-901-0058 or 778-686-0135. See the website HERE. Please consult DB’s disclaimer before making investment decisions. This is not an endorsement.