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Example of what is happening in main street USA besides the epidemic in shop lifting off retailers.
https://www.zerohedge.com/markets/another-one-fails-subprime-auto-dealership-faces-collapse
Meddling?…you mean trading. I don’t know why some here assume that large funds need to hold forever. It’s a money game. Where there’s a seller, there’s a buyer.
It"s time that CFD's were also banned in the UK doing so would help create a more stable market and stop funds such as Blackrock from meddling !
Gold and silver prices are down a bit in subdued early U.S. trading Tuesday. A firmer U.S. dollar index so far today is a negative outside market element pressuring the metals markets. Metals traders are anxiously awaiting a U.S. inflation report on Wednesday. December gold was last down $6.90 at $1,940.30 and December silver was down $0.058 at $23.325.
https://tinyurl.com/248nmkp8
JEREMY GRANTHAM , The US economy is “beginning to unravel” and a recession is a 70 per cent probability. He would be “very careful with real estate all over the world” given “20 years of declining mortgage rates have driven real estate to really crushing high multiples of family income”.
And just to top it all off, he sees only a 50/50 chance of coming through the huge range of long-term problems the world faces with “the relatively steady civilisation that we’ve enjoyed for the last 70 years”.
Cest la vie ?
the gnome
Engineer Tarek El Molla, Minister of Petroleum and Mineral Resources, issued a new appointment motion that included company presidents and the CEO of a company in the petroleum sector.
The ministry said, in a statement on Monday, that this movement aims to support petroleum sites with the necessary competencies to achieve future goals.
The movement included occupying some positions that were vacant; It came as follows:
- Mohamed Mahmoud Ahmed Mahmoud, Chairman of the Executive Board of Directors of Al-Sukari Gold Mines Company.
- Engineer Muhammad Ali al-Din Ali Deghaidi, Chairman of the Board of Directors and Managing Director of North Sinai Petroleum Company.
- Engineer Mahmoud Ahmed Ahmed Al-Sayed Tolba, Chairman of the Board of Directors and Managing Director of Al-Alamein Petroleum Company, in addition to his original work.
- Engineer Walid Muhammad Muhammad Muhammad Al-Aasar, Chairman of the Board of Directors and Managing Director of PetroSinaa Company, in addition to his original work.
- Engineer Muhammad Sadiq Hassan Alyan, Chairman of the Board of Directors and Managing Director of Al-Waha Petroleum Company, in addition to his original work.
- Engineer Walid Ahmed Al-Desouki Mahmoud, Executive General Manager of the National Petroleum Services Company (NPSCO)
Even though the gold market lacks direction ahead of the Federal Reserve's September monetary policy meeting, prices will make a move and hit $5,000 an ounce within three years, according to Michael Lee, Founder of Michael Lee Strategy.
The stagnation in the price action is partly because of the strength of the U.S. dollar and the market's interest rate expectations. But the macro data the market is basing its estimates on looks manipulated or flawed by design, according to Lee.
"For a lot of the United States, they're already in recession," he told Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco News. "You've already seen some massive deterioration in the labor market, although it's not certainly not being reported that way."
https://rb.gy/1cnkn
Yes indeed they have.
But its the resoning and reality of the US economy ,thats important.
Deception eventually gets monotunus and becomes questioned.
As with the non real news in the media ,or boring propaganda that is constantly being peddled.
With help from massaging statistics.
Crying all is good ,far to often.
Time will tell.
Hi Razor's,
Note the is purchase is by CFD, although it's possible to trade CFDs in the long term by adopting a buy and hold approach. Traders will usually do this if they think that an asset's value will increase over a long period of time, which is known as position trading.
Most traders do not consider CFDs appropriate for a long term investment because CFDs incur high fees if held for long periods of time,so traders usually consider them only as short term trading instruments.
Because the industry is not regulated and there are significant risks involved, CFDs are banned in the U.S. by the Securities and Exchange Commission (SEC)
A CFD is an equity derivative under which the holder generally does not have voting rights or a call option over the underlying shares. For an overview on forward and futures contracts, see Practice note, Derivatives: overview: Forwards and futures.
So this purchase shoes no real commitment or belief in CEY by Blackrock they will likely reduce their position before long!
What is needed is some stock buying by the BOD!
Haven't they been predicting that for 15 years?
Any rise on pound value from higher wage data is quickly disappearing. Other reports are showing problems.
Bloomberg commentary suggesting pound is now on the slide down. This makes it harder to predict how Centamin reacts to any pullback on gold as earnings when converted to pounds does not change much.
Correction… that being increased from 4.95 to 5.04%
Blackrock increased their holdings from 4.9 to 5.09 %
Equities in Europe traded with gains in the premarket on Tuesday. This comes as investors continue to digest the European Commission's growth forecast and inflation expectations.
During the day, data on the United Kingdom's unemployment rate and German economic sentiment will also be published.
At 7:38 am CET, DAX went up 0.18%. Both FTSE 100 and Euro Stoxx 50 increased 0.19% and 0.22% simultaneously. The CAC 40 gained 0.24% at the same time. The euro was down by 0.11% against the dollar at 7:41 am CET, selling for 1.07383. The pound was flat against the dollar and went for 1.25123 a minute later.
Baha Breaking News (BBN) / DD
Tuesday wrote Mr. Kipling…
Gold price to hit $5K in 3 years,watch the default wave kick off US recessionin Q4. Michael Lee.
5K ? 2.5 K would be more realistic, but worth a watch.
Good cpi on Weds and gold will go up- inflation drops not as good as expected and gold will drop-
Doesn’t matter what the charts say- SP is driven by economic data and events (and RNS of course)
Initially I thought it might be a pennant or a triangle in the weekly chart but the pattern during September looks like a flag formation with 3 weeks still to run. Happy to see other chart folk comment on what they can see. October is starting to look like a volatile month. I am not expecting that much to happen in September as we got pass USA Labour day with little follow through on direction. For this week we shall see if they pull back a bit on USD. If the markets pump USD, I suspect China and Japan to defend their currencies and not have imported inflation.
Thank you Tornado
Correction in previous
So if the company was earning 5 cents a share last year and it is earning 7.5 cents this year, the issue is the profit if the USD and pound sterling rate was the same and so we should have a higher share value (and currently they do not despite the pound barely increasing value against USD).
Its been in everyone faces for quite a long time .The figures the US have been using were odd.
How many revisions does it take for them to not learn from affecting the market prices.
But of course they dont really care as long as they can stop the precious $ from slipping.
Biden goverenment needed it to appear still in control till the next elections, the $ needed it to keep confidence in the Reserve Currency.
It is really fraud on a grand scale.
Sotolo the 3 to 1 ratio worked many years ago. What has changed for the miners was the host government take either on profit share, royalties or central and local taxes. It is not so much inflation but what governments leave the miner with to make money from the gold price.
A second factor for the miners is production growth and for Centamin it has run on a 5% increase for what will be two years running. Increased production equals higher revenue if the gold price was the same as the previous year. for Centamin the average gold price last year is far less than the current year. This is visible of the increased profits and earnings per share on the H1 interims. So if the company was earning 5 cents a share last year and it is earning 7.5 cents this issue as profit then the company if the USD and pound sterling rate was the same should have a higher share value (and currently they do not despite the pound barely increasing value against USD). The AISC last year is broadly the same as this year and centamin has managed out the negative impact of inflation through a vast number of efficiencies plus 5% increased production.
What has changed is the volumes being traded, the heavy shorting of gold miner ETFs in a less liquid market and the effect is to collapse the forward PE rate from 16 to around 7.5. The historical PE rate since profit sharing was around 15. The PE rate is now back at levels seen in 2014 when production was far lower along with the gold price and there was no profit share. When the profit share was fully introduced the PE rate was doubled in that year. The argument being made is that high interest rates should reduce the PE rate which appears to have been applied on gold miners and possibly bank stocks. All other sectors appear to retain high PE rates as they had before and await a future correction. I therefore see the down side on Centamin as being substantially delivered. It does not mean it can slip further down but this idea that it may fall 35% after falling 32% already this year does not suggest this share going to 56p. We have to note this share has been falling for months already.
Https://www.gold-eagle.com/article/gold-silver-are-facing-2008-conditions
https://www.gold-eagle.com/article/something-isnt-adding-us-debt-soars-2-trillion-2023
Is this he article Tornado?
The gold miners’ stocks just entered the autumn market busy season on the wrong foot, selling off as traders returned from summer’s last long weekend. That has fortified the bearish sentiment this sector suffered in recent months. With football on the mind, gold stocks’ back-and-forth action reminds me of plenty of big games. While a key drive to new upleg highs was fumbled, gold stocks are still in the game.
https://rb.gy/00rx0
Flaw. Apple spelling for me!