Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
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No mention here of the way POG has been held down by paper sales!
https://www.bullionvault.com/gold-news/gold-inflation-060920212
"Gold is really not a perfect hedge " says Amy Arnott, a portfolio strategist at data and ratings provider Morningstar, missing the importance of interests rates on gold importance of interest rates on gold prices.
"There's no guarantee if there's a spike in inflation, gold will also generate above-average returns."
Over the last 50 years however, " only 16% of inflation in gold prices can be explained by changes in CPI inflation," says analysis from the mining industry's World Gold Council.
I agree Bonker, a waiting game from here. GL
I must say the gold price reaction to real interest rates, after that set of inflation figures, is truly woeful. Yamana Gold up 1.5C and MVIS (tech stock) up $2.8 (nearly 10%). Give it time, I suppose, but I had thought of adding to my Centamin but have held off for now.
A small slice of Battenburg I think.
Aye.
That's my trading over with on these plays - I'll simply hodl and wait it out now.
See you on the other side.
Now gone in deep on Cey and Fres: inflation is PM's friend, Basel 3 to come
Perhaps the Statisticians are Algorithms.
I wonder why they do not consider fuel and food in these Statistics ? ;-).
Then the true figure might, just might, be clearer.
Is that the Statisticians don't use gasoline or food ?
They are continuing with manipulation of Statistics as they have done for years.
Whether they give a damn about the country is questionable !
But you can be sure their personal will be safe, both UK and US.
Along with families and friends.
Politicians and nappies have one thing in common.
They should both be changed regularly,
And for the same reason.
Rebess & Mr Bond,
I too am surprised at the apparent laid back attitude by the comex cartel, possibly now that the Covid effect card has already been used then the the proposed worldwide leveling up of corporate taxes could be used a "Get out of jail free" card on the City of London monopoly game?
Whatever happens I would rather trust a rattle snake at a lucky dip than our lying self serving government or the City of London spivs!
Good morning Mr Bond
One thing that puzzles me in the current-climate, especially in respect of an accepted need for a monetary-system reset, the UK/Bank of England, with virtually no gold on the books, appears not to care about its gold-deficit.- Something doesn't seem to add-up here.- I suspect they, in cahoots with our close American cousins, definitely know something we don't know.
Hi Mr Gnome,
So the City of London wants an exemption from the the supposed levelling up of the playing field and the rules that everyone else is supposed to follow, what a surprise !
After Brexit the present governments answer to all the other businesses that are complaining is that they should adapt,become more competitive and go out and seek new markets!
So surely the City of London should do the the same and if it is unwilling or just unable to adapt then it should be allowed to go to the wall, just like so many of our other industries and the traders should seek new employment!
Lets face it the City of London produces nothing that is essential to anyone, admitted it shuffles the indices up and down for it's own benefit, but it serves no useful purpose, it is just an self serving and perpetuating over bloated and pampered parasite that the planet would be better off without!
The arrogance and greed tf the City of London has no place in the 21st century, in fact outside of it most of the practices that take place there would be regarded as criminal!
Same thoughts here Rebess.
Ominously quiet.
I expect a last minute postponement.
Or some very logical excuse, like no current method of enforcement, till at least 2023.
Hi CHRI55
Basel to change everything. - Really? - You would never guess. - It's just the same-old, same-old. - With less than 3 weeks to go, you would have thought there would be a scramble in the market to square positions. - No sign of it. - Unless they know something we don't. - So far, a bit of a damp-squib.
Yes the Market is Trader dominated for commission for the Brokers and quick buck for the Trader.
They know the amateurs will follow but most ,too late.
Yes, Mr B, it's amazing how the markets hang on the tiniest pieces of data, even though participants know the quality of that data is suspect. Madness? An economic forecast can only be as good as the data that was used to build the model.
Will Centamin go up, or down, or round and round? I don't know. I've got to the point where I'd buy at the price which I think is fair.
Major stock exchanges in Europe were higher in premarket trade on Thursday as investors prepared for the European Central Bank's decision on the Eurozone interest rates, set to be announced later in the day. In addition, traders will also monitor the upcoming inflation figures in the United States and their effect on European markets. The United Kingdom's market regulator will reportedly investigate Amazon's business practices on antitrust grounds.
The DAX advanced 0.15%, London's FTSE 100 increased by 0.30% and the CAC 40 gained 0.16% at 8:00 am CET.
The euro was 0.12% lower compared to the dollar at 7:58 am CET, trading at 1.21654. The British pound lost 0.07% against the American currency, going for 1.41104 concurrently.
Breaking the News / MS
US CPI and Inflation figures. Today we are waiting, for those, (Read Kitco World News)
No doubt they will be massaged.
But the Market will follow them, no doubt.
The comments on Kitco sum it all up.
Great poem. The one my father used to recite to us had a verse that stuck in my mind...
"“The Moving Finger writes; and, having writ,
Moves on: nor all thy Piety nor Wit
Shall lure it back to cancel half a Line,
Nor all thy Tears wash out a Word of it.”
? Omar Khayyám
Sorry for getting off topic ...
best
the gnome
Well here we go. We have the new order, and this time it will be different. Great stuff on the International Tax set up, but of course the City of London wants exemption (sorry, this part of course is no different to the last 30 plus years!!! they are such fine upstanding and deserving peope).
Given the lags between the Fed policy and outcomes, this guarantees overshooting (!). By the time the economy finally reaches the point when the Fed starts to tighten, it will be smoking hot (at “maximum employment”) and, inevitably, getting hotter, probably blowing out steam?
That is what happened in the 1970s. In that case, the necessary disinflation was postponed until Paul Volcker took over in 1979. The experience was brutal, lives were changed, many for the worst. As a senior Federal Reserve official from 1975 to 1987, in addition to battling inflation, he sought to limit the easing of financial regulation and warned that the rapid growth of the federal debt threatened the nation’s economic health. (Hmmm....familiar?) He prevailed by delivering shock therapy, driving the economy into a deep recession to persuade Americans to abandon their entrenched expectation that prices would keep rising rapidly. The cost was enormous. Consumers stopped buying homes and cars, millions of workers lost their jobs. Angry homebuilders mailed chunks of two-by-fours to the Fed’s marble headquarters in Washington. But Mr. Volcker managed to wring most inflation from the economy.
His victory inaugurated an era in which the leaders of both political parties (elected) largely deferred to the central (Fed, unelected) bank, allowing technocrats (and unelected bureacrats and idelogues) to chart the course of monetary policy with little political (those elected by democratic processes of a sort) interference...and the world has never been the same since
Given the inevitable lags between tightening and bringing inflation under control, the costs are again likely to be severe. That would not matter to the US alone. Remember: the Volcker shock triggered the Latin American debt crisis as well as a few others.
Yellen tells G7 to keep spending, says inflation will pass
This time, there is much more debt around almost everywhere. A severe monetary tightening would create even more devastation than then.
Getting the world as a whole out of the pandemic crisis is far from a done deal. Much more still needs to be done.
Furthermore, the new approach to monetary policy of the world’s most important central bank risks serious overshooting.
By responding only to outcomes, it is nigh on certain to react too slowly. It is possible this will not matter, because expectations remain well anchored, whatever happens.
I pray this will be case. The alternative does not bear much thinking about.
regards
the gnome
Thanks Aoife.
People of today have no idea of the much glamourized past.
The mines inland were no different.
Though not talked of much.
It's mightily quiet on this board tonight, and the football hasn't even started yet - or has it?
Anyway, I am quite an optimistic thing on the whole, despite having to recite the following poem to my class in my formative years - at least Britain is a better place for most people today than for many during the time of Charles Kingsley.
The Three Fishers:
Three fishers went sailing out into the West,
Out into the West as the sun went down;
Each thought on the woman who lov’d him the best;
And the children stood watching them out of the town;
For men must work, and women must weep,
And there's little to earn, and many to keep,
Though the harbour bar be moaning.
Three wives sat up in the light-house tower,
And they trimm’d the lamps as the sun went down;
They look’d at the squall, and they look’d at the shower,
And the night wrack came rolling up ragged and brown!
But men must work, and women must weep,
Though storms be sudden, and waters deep,
And the harbour bar be moaning.
Three corpses lay out on the shining sands
In the morning gleam as the tide went down,
And the women are weeping and wringing their hands
For those who will never come back to the town;
For men must work, and women must weep,
And the sooner it's over, the sooner to sleep—
And good-by to the bar and its moaning.
I think you would find that HMRC have quite a different opinion regarding individuals tax returns.
You may be partly right about spread betting though, so many of them become addicted and try to keep their losses to themselves, no different to any form of gambling or addiction.
The US is having another REPO crisis - like the one in the summer of 2019. I can't find any reports in the MSM at the moment - what a surprise. It looks like the FED is intervening heavily to make the bond yields fall. Inflation report tomorrow in US - really nice accurate figures, I'll bet. No one knows where (or when) it will all end. At least holding some gold coins or bars will mean I'll have something left after it all.
I used to be such an optimistic person.
Whilst I'd expect Bitcoin to climb back up. If the govt wants to mop up Bitcoin CG it will probably have to weigh up what they think the likelihood is of it crashing hence allowing people to use it to write off gains elsewhere. It's the main reason they don't chase spread betting accounts as more people lose money.