First Platinum, Now Gold: As South African Miners Strike Spreads, Thousands Of Ounces Remain In The Ground

I had a feeling platinum miners going on strike, seeking higher wages for the dangerous working conditions, would not be a unique situation.  Expect strikes, attempted wage controls and worker unrest in other parts of the mineral-extraction world.  And it won't be just platinum mines.  Expect higher precious metals prices--and it won't be just from currency debasement.  It'll be due to soaring demand and supply shocks, too.  But hey, everybody who doesn't know $hit from shinola about gold and silver keep telling me gold is in a bubble.  Of course, they've been saying it since the turn of the century.  Meanwhile, gold has risen almost 7-fold, and silver has soared almost 10-fold in that span.

Instead of recognizing and acknowledging they've missed the boat, the gold top-callers are hoping the fundamentals will just reverse themselves.  Today, there are more reasons to remain bullish on gold than a decade ago, when it was bouncing off the bottoms at $250/oz.--trillions of reasons, in fact.  So despite the nice decade-long run up, the bullish fundamentals of gold and silver remain in place, as strong as ever.

http://www.zerohedge.com/news/first-platinum-now-gold-south-african-miners-strike-spreads-thousands-ounces-remain-ground