The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Major European stock exchanges traded mostly with gains in the premarket on Wednesday as the attention turned to the United Kingdom and British Chancellor of the Exchequer Jeremy Hunt, with investors awaiting the spring budget announcement. Meanwhile, later this week, the European Central Bank will be revealing its interest rate decision.
The DAX was flat at 8:00 am CET. At the same time, the Euro Stoxx 50 added 0.08%, the CAC 40 increased 0.10%, and the FTSE 100 rose 0.25%.
At 7:59 am CET, both the euro and the pound were flat against the dollar, exchanging hands for 1.08599 and 1.27046, respectively.
Baha Breaking News (BBN) / AY
Gold currently $2127.69
Happy hump y’al
Lol Mr Bond and Sotolo :-)
104 by Friday
Sotolo ha ha ,more like the golf course, possibly in his Ferrari if he has space for the clubs.
Aha Steve knocking off at 2pm, how lovely, are you a British workman, explains a lot x
Some gold swings- see you all tomorrow, lots of things moving around- good luck to the traders and good luck to all the long term holders.
Trade in time.
Gold @2,135!
Thanks Sotolo.
When will the news be released anyone?! - Thanks!
Well said Rebess, although I do feel a bit of excitement in seeing the SP move up.
Fingers crossed after many years this will be the real thing.
Aw c'mon rebess we go through so much disappointment on here great when we get a boost and no harm saying so
You know the drill:
https://www.marketwatch.com/economy-politics/calendar
Historically, it doesn't pay to crow too loudly about a Centamin uplift. - It's usually ephemeral and In the blink of an eye it all changes. - So, cut the 'Jinx' chatter guys, - please. :)
Dumped the lot in tranches at £1 when limit hit.
Think a lot further to run but megga happy for now.
GLA- whatever you decide to do.
Waiting US to open.
Sold all my 90p tranche. Thanks Centamin, it only takes a bit of patience, she always glitters.
I'm still down, but i sold some at 99.5 hoping to get them back at 97.5 --------so thank me for any rise!
So i cannot wave my W-ly about like some do on here!
My 97p is finally in profit..
The £1 breached :-)
Well, we're on the way... GP now 2125
Gold now at $2122 with high of 2123 ,to think not long back struggling at 1920.
But it is so volatile,the market that, is that no smoking or naked lights please.
European stock exchanges were mostly lower during the premarket trade on Tuesday in anticipation of key data releases slated for publication in the coming hours which will include the euro area's producer inflation and an insight into the region's services sector activity, as well as separate reports on German and British industry.
Bayer AG also shared its closing quarter earnings for its fiscal 2023, noting that it saw €11.9 billion in revenue.
The DAX declined 0.12%. The CAC 40 was flat. The FTSE 100 was down by 0.45%. The Euro Stoxx fell 0.23%. The euro slipped 0.06% against the dollar, selling at 1.08486 at 8:02 am CET. The pound sterling slid 0.07% compared to the greenback, changing hands to 1.26806.
Baha Breaking News (BBN) / AB
Gold currently $2115.56
Blimey, this is a decent read also on Kitco today:
(Kitco News) - The gold market is seeing solid follow-through buying activity following last week’s record closing price. The precious metal has pushed above $2,100 an ounce, and according to one market analyst, it has room to run.
In an interview with Kitco News, Jess Felder, founder of the Felder Report, said he has been looking for gold to break to the upside as the price action has generated some very bullish technical patterns.
“Gold is forming consistent bullish flag patterns. The price spikes higher, consolidates for a period and then we see another price spike higher. Gold has been looking to break higher for a while now. From a purely technical standpoint, it looks to me like there's a projected target of a couple hundred dollars higher for gold in the short term, but longer term, we're looking at $2,700, $2800, perhaps over the next year or two. Technically, gold just looks very, very good.”
Along with gold’s technical outlook, Felder said that the precious metal has a robust fundamental outlook as he does not expect the Federal Reserve will be able to bring inflation down to its 2% target.
He added that persistently higher inflation could cause investors to lose faith in the U.S. central bank, weakening the U.S. dollar and making gold an attractive asset. At the same time, Fleder said that a weakening economy will force the Federal Reserve to at least reintroduce quantitative easing as it maintains its restrictive monetary policy.
“If you had both of those things at the same time, that would be the ultimate bull case for gold,” he said. “If it turns out the Fed hasn't done enough to sustainably bring inflation back down, that's going to worry people that way. The whole soft landing narrative is based on the idea that inflation comes down so the Fed can lower rates without a recession. But if inflation doesn't come down and they can't lower rates, that will impact the economy.”
At the same time, Felder noted that credit conditions within global financial markets continue to deteriorate. He added that sooner or later, the Federal Reserve is going to have to pump more liquidity into the market.
As good as gold looks, miners look even better
It’s not just the precious metal that looks good. Felder said that he is extremely bullish on precious metals miners as this sector hasn’t been this beat up since the bear market lows in 2015
However, Felder pointed out that the negative sentiment is not aligned with the sector’s solid fundamentals
“To me, this is a very powerful sentiment signal; it suggests that this is about as bearish as investors can get,” he said. “It’s the ultimate irony: miners are trading as if gold is in a major bear market, but gold is holding near record highs.”
As to what will entice investors back into the mining space, Felder said that he expects a rally in gold to create a lot of new interest. At the s
No hindsight trades and again I am not the kind of contributor who comes on here and is untruthful. I was astonished that gold was not going down through the floor boards. We could all question whatever you do is real or not and question your veracity, but what is the point and why be impolite. Only stupid people go around doing harm to themselves and other people. Most people who contribute on the Centamin Boards are actually intelligent.
Although I am not sure where it got 5.2% from.....
china stimulus hopes lift miners
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sterling climbs as uk economy picks up speed
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endeavour mining, centamin rise on liberum upgrade
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ftse 100 up 0.6%, ftse 250 adds 0.9%
jan 24 (reuters) - british equities touched a one-week high on wednesday, bolstered by china-exposed stocks following measures taken by the chinese central bank to support the economy, while sterling rallied after a survey hinted at high-for-longer interest rates.
the exporter-heavy ftse 100 ended 0.6% higher, while the domestically oriented ftse 250 index added 0.9%.
industrial metal miners rose 2.6% after china's central bank announced a 50 basis points cut in the amount of cash that banks must hold as reserves from feb. 5, in an attempt to shore up a fragile economic recovery.
miners anto***asta, glencore and anglo american climbed between 3% and 5.3%, leading gains on the ftse 100.
"today has seen prices edge higher on hopes that the new measures announced by china will provide an uplift on the demand side, although the fact that they are due to arrive just before chinese new year could mean that the pickup in demand might be delayed several weeks," said michael hewson, chief market analyst at cmc markets uk.
asia-exposed insurer prudential was up 2.2%, while luxury retailer burberry added 3.7%, lifting the personal goods index 2.5% on hopes of a demand refresh from china.
precious metal miners surged 4.7%, supported by positive news about all of its constituent companies.
endeavour mining jumped 4.4% and centamin gained 5.2% after liberum upgraded their shares to "buy", saying gold equities will shine this year amid global war and trade tensions if donald trump wins the u.s. presidential race in november.
in addition, gold miners fresnillo plc climbed 4.2% and hochschild mining moved up 7.5% following strong production numbers.
meanwhile, the pound rose after a survey showed britain's economy started 2024 on a stronger footing, prompting investors to reduce their bets on the bank of england moving quickly to cut interest rates.
among individual stocks, pest control company rentokil was the top decliner on ftse 100, down 2.3%, after bofa global research downgraded the stock.
tullow oil was among the top gainers on ftse 250 with a 10.7% rise on guidance for strong cash flow over the next two years. (reporting by sruthi shankar, khushi singh in bengaluru; editing by dhanya ann thoppil and jonathan oatis)