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It's up to $2364 now!
Https://www.lse.co.uk/rns/CEY/2023-annual-report-and-notice-of-agm-zkelsnju5s2j3hg.html
European stock indexes traded flat to lower on the premarket session on Tuesday as investors awaited the release of the key CPI report from the United States, which is set to be published tomorrow.
The DAX and the FTSE 100 were flat at 8:05 am CET. The CAC 40 lost 0.10% and the Eurostoxx 50 decreased by 0.32%.
At 8:06 am CET, the euro and the pound sterling traded flat, to sell for $1.08596 and $1.26594, respectively.
Baha Breaking News (BBN) / RR
Gold currently $2345.66
The word they do not mention is Mercury, like used by the illegal small scale mining in Mali, Burkina Faso, Guyana, Peru (etc, etc)., but is otherwoise considered illegal and outlawed internationally. Like so many great global ideas, UN, World Bank, International Court of Justice etc...next to useless except for spending lots of OPM..... There is nothing small scale about this mining, the environmental devestation is horrific, and long term (intergenerational - thanks Dad!) issues very serious ...
the Gnome
T21A,
This conflict is yet another that is contributing to the general global uncertainty and the Myanmar military junta is involved in supply of illegal gold to help fund their corrupt regime which is certainly contributing to the detrimental effect on the POG from regulated mines and their overall value.
There has been a rapid expansion in illegal gold mining in Kachin State since the Myanmar military’s 2021 coup, with illicit gold mines operating around Myitsone, the confluence of the Mali and N’mai rivers, as well as along those two rivers and in Sumprabum and Putao, the northernmost towns in Myanmar.
31 Mar 2023
Aggressive and unregulated gold mining since Myanmar’s military coup two years ago has ravaged the land around Indawgyi Lake.
https://www.youtube.com/watch?v=iRji0vrzWmA
Illegal gold mining expanding unchecked under junta in Myanmar’s Kachin state
Residents say administrators take bribes to look the other way as their livelihoods are destroyed.
By RFA Burmese
2023.02.14
Share
Illegal gold mining expanding unchecked under junta in Myanmar’s Kachin state A gold mining site in Kachin state, Myanmar, Feb. 14, 2023. Mines are supposed to have a minimal environmental impact on the local population.
Screenshot from citizen journalist video
A rapid expansion in illegal gold mining since the military coup is poisoning the water supply in Myanmar’s Kachin state and destroying the livelihoods of residents who say the ethnic Kachin group that administers the region has failed to police the sector.
Illegal mining of gold, as well as jade and rare earth minerals, is rampant in Kachin state, where successive governments have failed to regulate the industry for generations. However, the number of unsanctioned operations has ballooned since the military’s Feb. 1, 2021, takeover amid conflict between junta troops and armed resistance forces in the region.
Residents of Sumprabum township told RFA Burmese that illegal gold mines had “nearly doubled” in Kachin state since the coup and are devastating the environment, despite local protests.
“They used to dig in areas farther from our village but now they are digging quite close,” said a resident of Hpon Ing Yang village who, like other sources in the area, declined to be named citing fear of reprisal.
https://www.rfa.org/english/news/myanmar/mining-02142023165243.html
Authorities have suggested a crime syndicate looking to evade taxes in Japan may have been behind the operation.
Hong Kong is one of the world's largest gold trading hubs and prices of the commodity have been rising amid geopolitical uncertainty.
https://www.bbc.co.uk/news/world-asia-68761514
Although Western investors continue to ignore gold even as prices continue to hit record highs, they are no longer actively getting in the way of higher prices, which means the current rally has legs to run higher, according to one market analyst.
In an interview with Kitco News, Robert Minter, Director Of Investment Strategy at abrdn, said that gold’s rally to record highs above $2,350 an ounce is just getting started, and it's only a matter of time before retail investors jump into gold-backed exchange-traded funds to kick off the next major leg higher.
https://www.kitco.com/news/article/2024-04-08/gold-price-nearly-19-rally-you-havent-seen-anything-yet-abrdns-robert
We're doing very nice now everyone that's held this for last 6 months so I've now made a nice little profit here.
It seems a great company on the turn and making some good money with gold above 2000 and I'm looking forward to April 18th if it drops ill just add a few more fore the next 12 months
GLA
You guys waited a long time jow being rewarded...wish I had bought in at sub a quid ....gerrrŕ.....u guys 👦 think it can ceack those 2 quid levels again??
PCI was I programme I implemented for a FTSE company years ago when compliance was mandated.
Opps typo Mr T- "PPI" - "PCE" is the key only allegedly the FED value most
The latest trade data shows hedge funds continue to pile into gold and silver, and while prices have pushed significantly higher, some analysts have said that the precious metals still have room to move higher.
https://www.kitco.com/news/article/2024-04-08/gold-and-silver-are-still-not-overvalued-hedge-funds-add-their-bullish-bets
What's PCI?
Of course gold is not a stock but same applies- gold gaps DO NOT ALWAYS GET FILLED.
Regarding CEY- if the first quarter results fall below expectations and other bad news then CEY could well fall below to "fill the gap".
If CPI and PCI rise way higher than expected and other non-supported DATA gets release then gold will drop and "fill the gap" in CEY will occur.
This will have zero to do with it's a gap and therefore will get filled.
It has EVERYTHING to do with the DATA released.
It's really that simple...
Gold is not a stock.
Gaps in equity stocks may not get filled in the event of an RNS. So any gaps in the charts have to be rechecked that no RNS was issued. A gap can happen at the very beginning of a major move higher that is subsequently bullish move higher or at the very start of a significant down trend. Gaps in Centamin that can be between a buy and sell price of 0.10p would be ignored.
Gaps in ETFs that work across different time zones have to be ignored all the time as they arise so frequently.
Gaps on AIM stocks with precious little liquidity and trading volumes also have to be ignored.
Centamin has a gap chart of significance on 28 March at 112.9 to 113.6p. We shall see if it gets back filled.
Do Stocks Need to Fill Gaps?
Importantly, gaps do not always fill. Traders should never assume that a gap will fill without understanding the reasons for the gap and monitoring trading activity around the gap. Breakaway gaps often do not fill, or fill only partially since the broken support or resistance area serves as resistance or support during gap filling action.
Cut from:
https://centerpointsecurities.com/what-is-a-gap-fill-in-stocks/#:~:text=First%2C%20remember%20that%20gaps%20don,an%20eye%20on%20trading%20volume.
Steve
I certainly believe a retreat is likely to happen and the gaps in the charts get back filled for gold and silver. I can not give you a firm date, but I would not be surprised if it happens in the coming weeks.
I took my profits for the last financial year on 2 April. I have chosen to stay out of this move. I think you have misquoted what I said before. I commented that prices often form peaks in early April and then fall off around the second week. It may have something to do with ISA investments or new investments from funds or whatever. Then quite often stocks retreat to lower prices afterwards. I am sitting mainly in cash and will wait for entry prices that are low enough for me to sell higher later.
Gold is now very expensive and what is going on in the physical market supports that view, whether it is recycling, miners finding more ounces to supply, western and Indian jewellery not selling, mint coin and bar sales not happening despite big cuts in premiums.
Tony
So if the “ What the all time chart currently reveals on gold is that the current upwards move is parabolic and it became that way after spot prices passed $2320 per ounce” then why did you say that gold gaps in the charts always get filled and the fallback is “inevitable” and you always stay out first 2 weeks in April as Cey always falls?
The FTSE's top 10
Company
Market value
Sector
1
Shell
£168bn
Oil and gas
2
AstraZeneca
£164bn
Pharmaceuticals
3
HSBC
£122bn
Banking
4
Unilever
£95bn
Consumer goods
5
BP
£80bn
Oil and gas
6
Rio Tinto
£73bn
Mining
7
Diageo
£64bn
Consumer goods
8
GlaxoSmithKline
£60bn
Pharmaceuticals
9
Relx
£59bn
Media
10
Glencore
£58bn
Shell has threatened to quit the London Stock Exchange for New York in what would be the biggest blow to the UK’s struggling stock market to date.
Wael Sawan, chief executive of Shell, said the oil and gas giant was looking at “all options” for its listing amid concerns it was under-appreciated by investors.
He said: “I have a location that clearly seems to be undervalued.”
The comments will spark fears that Shell, which is the largest company on the FTSE 100 with a market value of roughly £180bn, could become the latest to flee the London market.
The index has traditionally been dominated by oil and gas companies, as well as mining and commodity stocks.
But a growing focus on environmental, social and governance (ESG) measures among investors has begun to threaten that status, with major companies starting to defect to the US, which is now the world’s largest oil producer.
Steve
Charts are not all hindsight. Fibonacci levels do give useful data and like it or not RSI and stochastics, MACD and bollinger bands all have a use. What the all time chart currently reveals on gold is that the current upwards move is parabolic and it became that way after spot prices passed $2320 per ounce. Any way Steve you have a successful way of trading and my way is successful for me and other people have their own methods. The key is working a formulae that fits your own strengths and copes with own weakness. All the best Tony
PS It is handy that lots of people have different methods otherwise we would all buy and sell at the same time.
Https://twitter.com/wahidniazi/status/1777193660188348501?t=saV6dqyIThW2llCUMb7dDQ&s=19
Burmese officials fleeing to Thailand today
Mr T,
While I applaud you for keeping up with world events but this forum is not the place to share it. Lets try and keep this space specifically for news and views on our favorite investments, Gold and Centamin.
Thank you
Yes Mr Bond.
China buying gold is also "data".
I push up the links to the US Data as it creates swings directly at points in time that can be traded around- it's a far harder (but agree does impact the medium to long positions) to do this with this "data type".
Geo-political is also a "data type".
All of these has impact at different times- it's complex and depends on your horizons.
One thing is key- events (data) causes change, all the other looking back is just irrelevant noise- of course they can be correct as stocks and assets can only go up or down- but data understanding and watching is the way to improve the odds.
Remember the famous MacMillan quote "Events, dear boy, events"...
Kitco,
Experts,? even more bullish than retail investors despite sharp post payrolls plateau.
IMHO, the real reason being Chinese buying every day.
But a new record price for Gold, means a new record to be hit ,if not now ,in the future.