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Take advantage, decide on what you want to make and trade it- GLA.
Full circle in little more than an hour.
Gold is now down for the session and cey is flat.
But my point is that the charts remain a complete coin flip- the vast majority of traders lose money and the vast majority use charts. I've used several trading platforms over the years, and the millions of people who post chart data is endless- all that happens is the vast majority lose- it's worse than flipping a coin. As I said before, algos are way more advanced than years ago, it's a simple way to mop up all the money from the chartists... I repeat, worse than coin flipping...
Steve,
The data move made little sense for gold to push higher in my opinion. Anyway I took profits from 97p to early on 109p 50% sold, but it was a double dipping play anyway. Managed to use all my CGT last year. Unfortunately the allowance is only £6,000 this year. All the best. Tony
Prices of precious metals rose on Wednesday following the release of the annual inflation data in the United States, which continued to show signs of cooling.
The consumer price index clocked in at 5% in March, with the figure dropping more than expected, which seemingly pushed investors toward the safe-haven assets as the data revived hopes that the Federal Reserve could slow the pace of interest rate hikes.
Gold jumped 1.16% to $2,026.06 per ounce at 8:36 am ET. At the same time, Silver surged 2.05% to sell at $25.56 per ounce, rising to its highest level since April 2022.
Platinum gained 2.17% going at $1,021.52 per ounce and palladium added 0.27% to $1,443.33 per ounce.
Baha Breaking News (BBN) / AB
Centamin real time currently 112.2
The data creates the charts NOT the other way around
And again- charts wrong,
They liked the drop in the inflation figure. Gaps remain.
Forget all that- US CPI data in a few mins ago, that’s why gold has now risen up to 2027 as I type plus markets up…
1979-1984
1989-1991
2006-2019
This is not looking good for gold as we come up to inflation news. if it goes down after 30 seconds you know where the futures chart gaps are.
111p
Interesting. Newcrest has some marginal mines, does not need a lot to go seriously wrong. I would not be parting with this sort of money, unless I was desparate..and there lies a story, a growth story...
There are remarkably few large scale tier one gold ore bodies, very very few, and it will not get any better.
best
the gnome
The new proposal of $19.5 billion came after Newcrest rejected Newmont's previous $17 billion bid in February. Under what Newmont calls its "best and final" offer absent a superior one, Newcrest investors would hold a 31% stake in the combined company.
https://www.investopedia.com/newmont-boosts-its-offer-to-buy-newcrest-to-usd19-5b-7404858
Hurdles loom for Newmont's $19.6 bln bid for Australia's Newcrest
Newcrest's board, which in February unanimously rejected Newmont's previous offer of 0.380 shares for each of the Australian company's shares, has opened its books to Newmont for due diligence but has not given its recommendation to shareholders on the offer.
"Importantly, board recommendation and (an) independent expert report still remain key hurdles," Morgan Stanley analyst Rahul Anand wrote in a report to clients on Wednesday
https://finance.yahoo.com/news/hurdles-loom-newmonts-19-6-054052757.html
Major stock indexes in Europe traded mixed in the premarket on Wednesday as investors readied for the latest inflation data from the world's leading economy to be released later today.
Yesterday, the International Monetary Fund (IMF) slightly revised its global economic growth outlook for 2023 to 2.8%. Meanwhile, it was said that the gross domestic product (GDP) growth in the Eurozone is expected to stand at 0.8% this year, and 1.4% the next year.
The DAX was flat at 7:12 am CET, while the CAC 40 increased 0.09% and the FTSE 100 lost 0.09%. The Euro Stoxx 50 declined 0.11% simultaneously.
The euro was 0.12% above the dollar at 7:13 am CET, selling for 1.09267. The pound grew 0.10% against the greenback and went for 1.24366 concurrently.
Baha Breaking News (BBN) / AY
Pog currently + .7%
Happy hump ya’l
Financial Times: The world’s largest gold miner Newmont has raised its offer for Australian rival Newcrest to $19.5bn
Subscription only:
https://www.ft.com/content/11d0a48c-a62e-4508-99fb-f8de697036e3
No one can predict events but anyone can interpret charts- so if charts are correct, why isn’t everyone millionaires??? I say it’s cos events make SPs and charts just reflect the events …
Trading algos now are so complex- charts are old hat these days - the tech is way too advanced now
Yes but even if it takes years people say the backfill was there- trading on this and charts is simply madness - I trade on events, these are then reflected in the charts- it’s events that make and drive SP, the charts simply reflect the events.
Steve
Some news will come along and the probability of backfilling by Friday is high. Sometimes it happens asap and occasionally it is a few days later. The news is likely to be pro USD.
Glad all went well Tony.
But you now have to replace the phrase "always gets backfilled..." as gold rose and didn't fall at the US opening, and is still up as I type.
Hi folks
Had to take my wife into hospital and just got back with problem solved. Yours truly on cooking,nursing and slave butler duties for a few days at least.
My rationale for gold is that we have a large gap in the charts between $1989 and 2003. Gaps in the gold chart always get back filled if those gaps are with USA market. We are getting closer to May and I have lost count of the times it has been a bad month for gold. I will still hold Shanta and HOC for different reasons. Centamin is very promising for Q3 and Q4.
What's the chance of 99p was the bottom,and now we start the 5th Elliott wave up ?.I posted before that i didn't know if 100p was the bounce point,or Naively suggested 90p a possibility ( 90p would have penetrated wave 3,so a stupid suggestion from me).
Hope you guys out there can put me right, as i see that you're very smart and don't tolerate nonsense posters like on Boohoo !!!!.Or for that matter that OTHER site !!!!!!!!!.
What is your rationale for an expected pull back at the US open ?
Very odd timing Tony- S&P, Nasdaq, DJ all up on the futures market- US CPI on Weds... but each to their own.
I was back in earlier this morning after selling last Thurs- (don't like being in miners over a long 4 day timeframe, in case something happens...). I sometimes drop half before major info like CPI so it's quicker for me to react either way- but I can see no logic for pull back when the USA opens- of course I could be wrong, but I work on logic.
GL.