A few months have passed and we were interested to see how silver miners have reacted to Eric Sprott’s open letter calling silver miners to arms last November. Mr. Sprott urged the miners to think about bit more deeply about their precious product.
Although the Canadian federal police have contacted the company to offer help in finding an anonymous author, the company appears to be defending itself well. The miner reports profits in Chinese subsidiaries and offers cash position proof.
It was an ugly day for precious metals. Gold and silver both fell as the Dow gained. Since gold and silver often play off each other, let's take a closer look at gold as it provides a clear reason for the pullback.