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Adds Credence To Report Centamin Has Already Paid A Large16 Mar '20
sum to the EMRA (perhaps 40 million USD) to secure its concession of choice - we'll see if it was enough in four months...
Doaa A.Moneim , Monday 16 Mar 2020 An informed source at the petroleum ministry, speaking on condition of anonymity, told Ahram Online that the bidding will be carried out according to the taxes, royalty and free carry interest model.
Carried interest is a share of bidders’ profits from the gold mine which will be paid to EMRA as compensation, and it will be competitive, as the more the bidder pays in fees the bigger their chances of getting a concession, according to the source.
Gold held -its is true they are mining it everyday &16 Mar '20
If as I said the other day they held it all back with the other Gold miners the prices will rise. We need a Goldpec. However Barrick have been saying for some time there is going to be a Gold crises soon as demand exceeds supply in this market -anyway. I think I would myself hold some back and wait for the priced to come back even more but remember for the year we are still up 16% on the Gold price compared to last year - so no panic IMHO.
RE: Quadruple witching day, + Triple Witching HOUR16 Mar '20
Hi Chas! Yes, Friday should be unusually "interesting". The tide has gone out a long way, but so far we haven't found out who has been swimming naked. Judging by the crazy pace of liquidation, I'm expecting a few big boys to get thoroughly exposed over the next few days - I think some big hedge funds first, then some banks.
This cannot last - I am staying put in precious metals16 Mar '20
My 92 year old Dad who over the years has learnt a thing or two has always said "its times of crises everyone always turns to Gold. Sooner of later most will realize this I am sure. I also heard that Gold and SIlver bullion were at record level of sales this must come back soon. Barrick have been saying for some time that there will be a Gold shortage as when demand increases the supply cannot match it. Looks at other shares like Marstons, and Premier Oil, etc, etc I am glad I am in here. ok we are suffering buy not as much as others, and we know we have a Company with vast amounts of cash in bank and who pays a good divi.
On Atkinson's Bullion website: 16th March 2020 At this extraordinary time we are seeing unprecedented levels of demand for our products. I wanted to reassure you that our website and telephone orders are working as normal. We have additional staff in place to handle your enquiries between 0900 - 1700 Monday to Friday. Extra staff have also been drafted in to dispatch your orders in a timely way. As a family-run business we are extremely grateful that you have chosen Atkinsons as your preferred bullion supplier.
Hi Dansul and a most interesting article. At what point do you feel the ETF paper gold market completely breaks from the physical gold market and what effect do you feel this will have.
Currently my portal showing FTSE down about 6% and futures trading suspended in the Ameican markets as exceeding fall limits but currently being assessed at about 10-11% Equally CEY UP about 3.5-4% Still holding as divi more important to me than fluctuations in share price. Bob
I agree Sotolo, The difference now is 24/7 media coverage that has tunnel vision and concentrates on such a narrow range of topics at any one time and a social media system with individually tailored searches so people rarely get the full facts or evenly balanced opinion,
The funny thing is every other generation has lived through such upheaval, our parents when all food heavily rationed and many shot, our grandparents with trenches followed by even worse Spanish flu, and so far we has been so blessed not to.
Europe dips premarket as Italy COVID-19 death toll surges16 Mar '20
European stocks plunged in premarket trade on Monday, with losses posted in the worst selloff since 2008 set to extend into this week.
The number of newly discovered coronavirus cases is surging across the Old Continent, with Italy being the hardest hit by the outbreak. Yesterday, the Italian authorities reported as many as 368 new COVID-19 deaths, the biggest single-day increase in fatalities. Other countries have also reported a rise in new cases while media reports indicated that a further tightening of measures to stave off the impact on the economy is in the making.
The DAX fell 4.76% at 7:42 am CET. London's FTSE 100 retreated 3.60% at 7:43 am CET. The CAC 40 dropped 4.22% at 7:47 am CET.
The pound gained 0.67% against the US dollar, going for 1.23630 at 7:45 am CET. Meanwhile, the euro jumped 0.33% on the greenback, selling for 1.11432 at the same time.
RE: Great news for recovery of the Gold miners16 Mar '20
Sadly even zero interest rates can’t stop gold falling as investors and central banks raise cash. However on a longer term note I am reading a book on the 1918 Spanish (actually Chinese avian) flu. It killed the young and healthiest rather than us old costly pensioners, as it was your own immune system killed you. A third of the world is suppose to have died. So it was far worse. Despite this, checking it out it seems that the Dow index fell 30% and then after the 3 year epidemic was over rose 5 fold, through the roaring 20’s. So this REVENGE OF THE PANGOLINS as I call it, the planet fights back, may be fatal or debilitating for us or friends but will probably leave a stronger world. In between it will be horrid. I remain a long term holder (hopefully)