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Shalateen mining discover huge gold reserve ,so Endeavour talks with government suspended .
This is important news .
Not off topic at Tiger, very much part of the bigger gold picture, unfortunately the US elected a bigoted and very dangerous clown as president and it won't be as easy to get him out of the White House which he has now infested with his family of Trumptons .
Trump has access to so many ways of manipulating the election and which he is already using to deny the American people of a truly democratic election process.
I can understand why Trump is seen as someone our present UK government (Gove ,etc )as a partner that they can strike deal with, the present UK cabinet and government are like the republicans in many ways, deceitful, manipulating, bigoted ,greedy and unfit for office .
(In the UK despite the environmental impact and destruction of local communities the government carries on building with a HS2 £ 68 billion railway line to get people to the outskirts of a northern city 20 minutes sooner, CoVID 19 working at home with new technological communication aids has shown that so much business actuarial commuting is unnecessary )
The present Covid crisis has exposed the political myths peddled to the masses, this and Brexit will bring about another UK recession and the downfall of the present government.
What will follow and will it be for the better is anyone's guess , but radical change is certainly needed and long overdue not only in the UK, but worldwide.
Interesting programme shows just how out of touch Trump is-
US presidential election: Focus on Texas
This from the FT: ...there are still some who valiantly struggle to form their own opinions on the basis
of evidence. John Maynard Keynes is often quoted as saying: “When the facts change,
I change my mind. What do you do, sir?” This seems a rather minimal standard of
intellectual honesty, even if one no longer widely aspired to. As with many remarks
attributed to the British economist, however, it does not appear to be what he actually
said: the original source is Paul Samuelson (an American Nobel laureate, who cannot
himself have heard it) and the reported remark is: “When my information changes, I
alter my conclusions.”
There is a subtle, but important, difference between “the facts” and “my information”.
The former refers to some objective change that is, or should be, apparent to all: the
latter to the speaker’s knowledge of relevant facts. It requires greater intellectual
magnanimity to acknowledge that additional information might imply a different
conclusion to the same problem, than it does to acknowledge that different problems
have different solutions.
But Keynes might have done better to say: “Even when the facts don’t change, I
(sometimes) change my mind.” The history of his evolving thought reveals that, with
the self-confidence appropriate to his polymathic intellect, he evidently felt no shame
in doing so. As he really did say (in his obituary of another great economist, Alfred
Marshall", whom he suggests was reluctant to acknowledge error): “There is no
harm in being sometimes wrong — especially if one is promptly found out.”
To admit doubt, to recognise that one may sometimes be wrong, is a mark not of
stupidity but of intelligence. A higher form of intellectual achievement still is that
described by F Scott Fitzgerald: “The test of a first-rate intelligence,” he wrote, “is
the ability to hold two opposed ideas in the mind at the same time and still retain the
ability to function.’
I wonder if this prediction is right ?
But there is no harm in being ready !
On this island there has been a jump in CV19 cases.
In the past few days there has been a large increase in illegal emigrants in lots of small boats, the majority virus infected.
It seems they are being brought to the edge of territorial waters and then transferred into these smaller craft at night.
Much more difficult to spot on radar. The larger vessels cannot be touched in international waters . Mafias.
Good morning Sotolo
I agree with you , this 'Golden hobby' of ours is indeed fascinating and like you I suspect, one that creates an interest that makes every day stimulating and interesting. Made even more pleasurable by the friends with whom we share our interest. - An important element I feel in elderley life.
Of the markets by govt scaremongers , nothing new there . At least gold is where people run to when the printed money isn't working
Sorry this post was meant to be directed to Sotolo.
Your posted prompted a search resulting in seeing this article. I find it interesting.
“Some people are more certain of everything than I am of anything,”
This suggests intelligence.
I seen a quote the other day, “The ignorant can be instructed. It is the incurious who are in trouble.“
My two main struggles in life the price of shares in comparison to what I paid for them and trying to get my 22 yo son understand, he doesn’t know everything... (or sometimes anything)
Good article if you’re interested
Your Whitman quote is a line I use all the time (to ennoble my humble indecisions and vacillations). Always beware the man of one book, or of one fixed idea!
My best guess is that there is a fall still to come in the US stock market (high yield (junk) bonds indicate as much), and that fall will drag down gold some more, at least initially. Note how the US markets often take a turn for the worse at 14.30 (their time); that's when the margin calls hit and investors are forced to liquidate assets (including selling their gold/ silver ETFs) to meet them. I make it that US investors are as overextended as US valuations are overstretched.
Once that selling pressure is washed out, IMO bargain hunters will step in and gold will rebound strongly, just as it did back in March. I don't think we're quite there yet, though. But if the US election turns into a bitter legal wrangle, (not to mention if China or Iran attempt to take advantage of the chaos in Washington), then I expect new all-time highs for gold in mid-November.
As a side-note, it's noticeable how Centamin is "outperforming" other gold shares on this downdraft. I assume that's due to expectations regarding the licence in Egypt, but it could be that we have a buyer building a stake behind the scenes (and if so, is that just a typical institution investor or could it be Barrick?)
Prof, I have just done the same on the Hoc board, strange when you refresh and can’t see your post, try again and it has come out twice.
All you lot are a great comfort, and actually good friends; as I gloomily contemplate another winter at home, maybe a year or two, it is great fun to have this funny golden hobby that we share, never meeting, perfect activity for Covid!
Thanks! Consistency is overrated (at least thinks our PM). One of my favourite lines ends the 456 page epic Whitman poem Leaves of Grass: “Do I contradict myself, very well I am large I contain multitudes” or to put it another way, as Keynes said, when the facts change I change my mind. So self contradictions and changing mind most welcome here, though as you point out neither the facts nor even the information has changed, hopefully the tree is just being very heavily shaken, but for how long?
First message didn't seem to post so paraphrased it in a second only to see the first one did. Think I was consistent.
Not quite relaxed but certainly not worried. I see no reason for the current fall in POG and lots of reasons for it to be high. Our SP is good considering gold at c1850. Feels like we are poised to move strongly upwards provided gold goes back to where it has been hovering for the past 2 months. Was even tempted to buy more just now. Might still do it.
To say I am relaxed might be a slight overstatement but I see no reason for the current fall in gold other than 'stuff' and noise.
SP holding up remarkably well for POG around 1850. I kind of get the feeling we are poised to explode to the upside provided gold recovers to where it has been hovering for much of the past two months.
Nearly bought some more just now. Might still do it.
Not really Sotolo, it was reported 2 weeks ago that gold may go down to $1850 before it goes up to $2300.
I will find the report and posted later.
Sotolo, nothing has changed with CEY.
We can expect this volatility with all that is going on worldwide.
FX Is not the place to be , paper is paper. Prefer the shiny stuff.
It's certainly a tad worrying as I can't really get my head round it, but I'm hanging on as the logic of $2000+ is irresistible and I can't think of anywhere else to go that offers safety. GLA
Gold is only off by .5%
JEFFERIES RAISES CENTAMIN PRICE TARGET TO 290 (240) PENCE - 'BUY'
Hardly cause for panic...
Anyone being frightened temporarily, all or partly as gold continues to fall. or all hanging on?
Down this morning, I’ll update you if it recovers.
Yes I noticed the same but no time frame. As usual.
A lot can happen in 6 weeks, it does not really change anything, but this is a very unusual time.
Anything can happen, without warning.
Value is how you judge the future.
One year ago ,no one could have predicted this situation.
So who can predict one more year.
No one ,this is a new market ,being manipulated by we all know who.
So take care all, from a person who trusts nothing, anymore.
Sad. But that is the rubbish that have influence to blame, and sheeple follow chased by wolves
Sorry about my rant. But not really. If you think about it , no logic is possible ,anymore.
Good night all .Sleep well.
...and finally something nicer to go to sleep with JEFFERIES RAISES CENTAMIN PRICE TARGET TO 290 (240) PENCE - 'BUY' issued today
Also Tiger what about Hoc, now a third down, Bustamente said his company very undervalued now compared to rivals
Question whether to bale for a bit now or stick with it? Tiger and others?
This time it is not tumbling stock markets as sellers need liquidity, but Powell not being stronger on latest asset purchases so expectation real interest rates may not be as low as expected.
I am not sure I buy this but depends very much on the other half of the equation, inflation.