We spoke to new Sterling Energy CEO Tony Hawkins about the latest changes happening at the company. Watch the full video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East and have access to Premium Chat. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Fed to let inflation rise + Gold/Silver hedge.
Also Usd falling so also Gold/Silver usually rise as a hedge, and for stability.
I now see World Markets looking towards Gold as the current live price is USD1956.97 & Spot per Bloomberg NYSE Usd1957.
Good luck those in here as we are more than likely going to move up quite nicely.
Currently trading at $1945.31
High of the day $1945.59
Equities on major European stock markets ticked higher in premarket trade on Friday as investors' optimism over economic recovery from the coronavirus crisis increase. Member of the European Central Bank's Board of Governors Member Francois Villeroy noted that the recovery is "so far in line" with expectations, while ECB's Chief Economist Philip Lane said the central bank stands ready to ramp up its efforts to weather the pandemic impact on the Eurozone's economy.
Meanwhile, traders were more enthusiastic over containing COVID-19 continentwide after the European Union's deal with AstraZeneca on purchasing 300 million doses of coronavirus vaccine came into force.
The DAX gained 0.44% at 7:38 am CET, while the CAC 40 and the FTSE 100 climbed 0.46% and 0.58% at the same time, respectively. The euro went up by 0.38% at 7:39 am CET to trade for $1.18673.
Breaking the News / GA
In this week’s rundown of the gold and silver markets, Andrew Maguire breaks down the far-reaching market implications of the minuscule fine the United States Department Of Justice handed the Bank of Nova Scotia last week.
In other market news, the precious metals expert looks beyond the upcoming Bank of International Settlements options expiry, and sets the scene for an expected rally in gold next week.
Gold Price Erased Wednesday’s Gain as Investors Wait for Powell’s Speech, Expecting the Fed to Loosen 2% Inflation Targets
Thursday, 8/27/2020 13:40
GOLD PRICES declined this Thursday morning after climbing during the last session while the markets await today’s highly anticipated speech from Federal Reserve Chair Jerome Powell writes Atsuko Whitehouse.
Spot gold dipped 0.7% to $1939 per ounce after gaining 1.2% during the last session, while the dollar index - a measure of the US currency's value versus its major peers - held the level just above a two-year low.
The yield on 10-year Treasuries - the world’s benchmark bond - remained flat, after rising each day this week.
Now I wonder how much is going to be made by the inner circle & Bank Cartel who may well have the thumbs up on Powell's speech?
Yes I am sure we all hope so Pipedreamer!
Tomorrow likely BIS futures settlement day. - Once out of the way, gold could potentially start a run.
Keeps bouncing off it.So lets hope it continues doing it,and punch up well above it and stay there.
Buffet has obv a lot of experience and a lot of data. On the equities side...my note book jottings
the strength in the US equities market is dominated by the out-performance of the monopolistic tech stocks, all of whom have outrageous P/E
the rest are medicocre.
global growth hard to imagine with the virus impaired loistics/supply chain impediments.
hard to imagine becuase of increasing unemployment, and underemployment
chinese trade positions are being managed now from a position of strength
regulations are increasing exponentially, which impedes money flow, products and services flow, plus investment decisions...
some gold producers still challenged at these prices (e.g. St Barbara Gold)
no new tier 1 gold discoveries
increasing social unrest in highly gold prospective countries (e.g Mali, Peru, etc)
so I am with Buffet
European shares were subdued during premarket trading on Thursday ahead of Federal Reserve Chairman Jerome Powell's Jackson Hole address.
Investors will closely monitor the Fed's annual symposium, particularly as it is expected Powell will introduce a new tool to help support the economy in the aftermath of the devastating coronavirus pandemic.
The DAX, the CAC 40 and the FTSE 100 were all flat at 8:00 am CET. The euro was down just 0.02% against the dollar at 8:10 am CET, buying 1.18286, while the pound declined 0.03% versus the greenback, to go for 1.32058.
Breaking the News / JC
By Gary Wagner ,Kitco news.
An interesting read,very relevant especially today with Powell's speech from Jackson's Orifice ,. Not that it will change the circumstances long term.It's just another opportunity for the insider trader's to make a quick buck.Again!
Cowichan I like your use of language,especially ,"ostensibly".
High of the day $1954.35
Thank you Cowichan,
Perhaps that nice Endeavour crowd will be making a take over bid for this one?
Here's a look at the timeline Perseus followed to build it's latest mine set to come on line in December. CEO says COVID has had little effect on operations. Expresses confidence in Cote D'Ivoire Gov't, safety, see video link on latest results.
Full-scale construction commenced in September quarter 2019
• US$265 million capital budget. As at 30 June 2020, US$204 million committed, US$166
million expensed and US$156 million paid
• Construction with 3.0 million LTI free hours worked by early July
• Overall progress 67% with engineering, procurement, off-site fabrication all 100%
complete, plant construction 72%, concrete 85%, SAG and ball mill installation scheduled
• Tailings Storage Facility 75% complete, bulk earthworks 98% complete with lining
activities commenced. Target completion date late Sept Qtr 2020
• Power supply on track for completion in early Dec Qtr 2020
• Perimeter fence complete, water line complete with water intake 88% complete
• Permanent Camp accommodation complete. Capacity for 637 in construction phase and
227 during operations
• EPSA mining fleet being mobilised to site and operational readiness well advanced
• On track for ‘stretch target’ of first gold in December 2020
My Thoughts: Comparing what has been built to date Centamin is poised to be a giant in West Africa gold production
Swiss gold exports
"With 62t in July, deliveries to the U.S. have totaled 411t so far this year, accounting for 60% of total Swiss exports (compared to a mere 1% over 2014-19)
“Since March, gold held in COMEX-approved depositories have risen by over four-fold to record levels.”
My Thoughts: Never write off the USA - with ostensibly the world's largest gold reserves the US dollar could be resuscitated post-mortem given the right strategy... Bride of Frankenstein anyone?
Hi Mr Gnome,
I like your rhetoric, certainly Buffett seems to have embraced gold , he must have access to some of those running the show !
Good points Herbie!
Warren Buffet - always late to the party and hasnt always walked away with a profit in the latter years. However Jackson Hole should give us a direction to follow. This one rising even when gold pulls back is a good sign IMHO. Is it goint to a low ball take over like HGM ? I guess the clue is HGM was dropping and dropping before the takeover so no - but happy days here whatever happens.
Interested in Buffets move. Between 1985 and 2016 gold miners’ shares went nowhere in absolute terms. In relative terms, miners underperformed both the broad US stock market and US treasuries—except “Keynesian periods”, when the Federal Reserve kept interest rates artificially low in an attempt to promote growth.
Since the beginning of 2016 gold miners’ shares have outperformed. Today, they are not merely outperforming both the broad stock market and treasuries over the whole period since 2000, they are also outperforming the gold price itself, and even the index of monopolistic technology companies. In fact, since 2016, the gold miners’ index has outperformed almost everything in sight.
Now, it would be strange to see Buffett embrace trend following and becoming a momentum player. So, why buy gold miners now? Two possible answers, either or both of which could be true.
>He expects the price of gold to go much higher.
>He expects gold to become part of the international payments system once again.
The second possible answer is far more interesting. Selling Wall Street financial engineers is tantamount to selling by proxy the fiat monetary system from which those financial engineers have benefited so greatly.
Meanwhile, buying gold miners may be playing the return of gold to a role in the monetary system. Assume that gold does make a comeback as an internationally recognized reserve of value. If it does, then the gold price would have a firm floor, at which the world’s central banks would be buying. But there would be no ceiling.
As a result, gold miners would be transformed from very short duration assets to very long duration assets, being the equivalent of a very long duration bond indexed to the price of gold. The price of a gold miner’s share would therefore consist of two components:
>The guaranteed repayment of principal at the floor price for gold.
>A free call option on gold.
Given the current uncertainties about the reserve value of money—we will be in a Keynesian period for as far as the eye can see—gold miners could instantly turn into the equivalent of the gold-indexed Giscard bonds (Gold-linked bond offered on the French domestic markets. The timing was perfect since, following the issue, the price of gold subsequently rose significantly. In retrospect, probably one of the most expensive emprunts d'état (state borrowings) made in recent times.) issued by France in the early 1970s. If so, then gold mines will be the sort of investment a ot of sophisticated (in fact any!!)investors like the best: the type where “heads I win, tails I don’t lose”.
Shares on major European stock markets were slightly higher during premarket trading on Wednesday as the session in Asia progressed mixed.
A lack of major economic reports left investors focused on the coronavirus pandemic along with trade talks between China and the United States.
The DAX was up 0.22% at 7:38 am CET, while the FTSE 100 rose 0.15%. Meanwhile, the CAC 40 increased 0.23% in Paris. The euro declined 0.21% against the dollar at 7:40 am CET, to go for 1.18100. At the same time, the pound fell 0.17% compared to the dollar, buying 1.31286.
Breaking the News / JC
Hi Mr Gnome,
Very enlightening, although somewhat depressing post on the corrupt system that is self perpetuating and self serving, run to keep those that run it at the top of the privileged pile and the ordinary people (plebs) in their place at the bottom paying for any mistakes those at the top make, although allowed to move up a little if they behave and vote the right way in the undemocratic and biased political electoral systems!
Also shows just how much all these chartists and self professed market experts really know, because all the charts, past events and future predictions don't matter a jot if those running the stock and monetary market scam deicide to put in paper orders for a few billions any time they decide they want to move the markets up or down !
Regulated markets indeed, only regulation is by those who run the scam!
Major stock market indexes on the European markets traded higher in the premarket on Tuesday as the investors awaited the economic data from Germany scheduled for release later in the day. The report on the country's gross domestic product in the second quarter of the year will be released before the trading session's start, while the Ifo report on the business climate in Germany is scheduled to go out shortly after the opening bell.
The DAX rose by 0.63% at 7:30 am CET, while the FTSE advanced by 0.30% at the same time.
The euro gained 0.17% against the dollar, to sell for $1.18074 at 7:28 am CET, while the pound went up 0.26% versus the greenback, going for $1.30969 at the same time.
Breaking the News / BU
Sorry should be block G. ??
Interesting read for those interested in understanding the game on spoofing
and of course, the players play on
and now with debt ballooning like it is, and will continue to... a poignant time to review
the book “Debt and Delusion”., written in 2000
"What we see at present is a battle between the central banks and the collapse of the financial system fought on two fronts. On one front, the central banks preside over the creation of additional liquidity for the financial system in order to hold back the tide of debt defaults that would otherwise occur. On the other, they incite investment banks and other willing parties to bet against a rise in the prices of gold, oil, base metals, soft commodities or anything else that might be deemed an indicator of inherent value. Their objective is to deprive the independent observer of any reliable benchmark against which to measure the eroding value, not only of the US dollar, but of all fiat currencies. Equally, their actions seek to deny the investor the opportunity to hedge against the fragility of the financial system by switching into a freely traded market for non-financial assets.
It is important to recognize that the central banks have found the battle on the second front much easier to fight than the first. Last November, I estimated the size of the gross stock of global debt instruments at $90 trillion USD for mid-2000. How much capital would it take to control the combined gold, oil and commodity markets? Probably, no more than $200 billion USD, using derivatives. Moreover, it is not necessary for the central banks to fight the battle themselves, although central bank gold sales and gold leasing have certainly contributed to the cause. Most of the world’s large investment banks have over-traded their capital so flagrantly that if the central banks were to lose the fight on the first front, then their stock would be worthless. Because their fate is intertwined with that of the central banks, investment banks are willing participants in the battle against rising gold, oil and commodity prices.
Central banks, and particularly the US Federal Reserve, are deploying their heavy artillery in the battle against a systemic collapse. This has been their primary concern for at least seven years. Their immediate objectives are to prevent the private sector bond market from closing its doors to new or refinancing borrowers and to forestall a technical break in the Dow Jones Industrials. Keeping the bond markets open is absolutely vital at a time when corporate profitability is on the ropes. ..."
good luck all, goodni
The interesting package is in block E for those that have not seen it.
There is another more detailed map somewhere,but it still evades me.