Centamin PLC Share Chat (CEY)

Jus so Tibbs but isn’t it ironic, as Tiger says, that all these bad things are good for gold, but peace and love would see it tumble; here we are, holders of Centamin , with our minds hoping it will soar as we read the politics right, but our hearts hoping we are wrong and the world will get a better place.

It is depressing that in the 21st century the US has Trump for president and the UK has Boris for PM , even if it is good for the POG!
https://www.kitco.com/news/2019-08-23/Last-week-of-August-could-rock-the-gold-price-as-markets-watch-Trump-s-response-to-China.html

Tiger you are wonderful

Hi Tiger Angel , are you talking about heaven? I thought we still living on earth! I am confused.....

GLTA,
Dan

Hi Parfett!
What's not to love? How about the world we live in?
I think I'd be happy to see the gold price plummet if only it ushered in a new age of peace, prosperity, love for our planet, and understanding.
Anyway, since there's not much likelihood of that new age dawning anytime soon, onwards and upwards goes gold!

Gold rising & dividend ex date next week, whats not to love.

Yes hi Razor I have just seen this myself and the price is starting to accelerate -good news for the Gold miners and CEY.

We also await now Jerome Powell's speech at Jackson Hole, perhaps he will have to cut rates further than the 0.25% anticipated and this will help Gold further.

Gold returns above $1,500 as China introduces tariffs

Gold rose above $1,500 per ounce on Friday, just minutes after China announced that it is introducing retaliatory tariffs on $75 billion of imports from the United States. As trade and recession fears overshadow the markets, the yellow metal rose 5.96% over the past month and 17.23% since the beginning of the year.

Gold traded 0.23% in the green and went for $1,501.73 per ounce at 8:18 am ET. Meanwhile, silver jumped 0.45% to $17.12 per ounce at 8:19 am ET. However, platinum and palladium both declined in the markets, losing 0.19% and 0.74%at 8:19 am ET as they trade for $856.29 per ounce and $1,476.56 per ounce, respectively.

Breaking the News / VP

Share price holding steady despite the weaker gold price ...

Most likely supported by Divi Hunter's

So when the music stops, be careful which equities you hold.
? Why would a smart investor old a stock in which they pay 21 times earnings, in uncertain times, where a lot can change in a week ...?

Historical P/e for the S and P 500
Date Value
Aug 22, 2019 21.75 estimate
Jan 1, 2019 19.60
Jan 1, 2018 24.97
Jan 1, 2017 23.59
Jan 1, 2016 22.18
Jan 1, 2015 20.02
Jan 1, 2014 18.15
Jan 1, 2013 17.03
Jan 1, 2012 14.87
Jan 1, 2011 16.30
Jan 1, 2010 20.70
Jan 1, 2009 70.91
Jan 1, 2008 21.46
Jan 1, 2007 17.36
Jan 1, 2006 18.07
Jan 1, 2005 19.99
Jan 1, 2004 22.73
Jan 1, 2003 31.43
Jan 1, 2002 46.17
Jan 1, 2001 27.55
Jan 1, 2000 29.04
Jan 1, 1999 32.92
Jan 1, 1998 24.29
Jan 1, 1997 19.53
Jan 1, 1996 18.08
Jan 1, 1995 14.89
Jan 1, 1994 21.34
Jan 1, 1993 22.50
Jan 1, 1992 25.93
Jan 1, 1991 15.35
Jan 1, 1990 15.13
Jan 1, 1989 11.82
Jan 1, 1988 14.02
Jan 1, 1987 18.01
Jan 1, 1986 14.28
Jan 1, 1985 10.36
Jan 1, 1984 11.52
Jan 1, 1983 11.48
Jan 1, 1982 7.73
Jan 1, 1981 9.02
Jan 1, 1980 7.39
Jan 1, 1979 7.88
Jan 1, 1978 8.28
Jan 1, 1977 10.41
Jan 1, 1976 11.82
Jan 1, 1975 8.30

By contrast,.....funds are limited in their ability to make markets by adjusting prices. Their ability to buy and sell is dependent on the flows of investible funds.
Large inflows necessitate buying, as most fund have limits on how much money they can keep in cash. At the same time, since most funds offer investors the chance to withdraw their money on short notice, redemptions obligate funds to sell.
Where investors are leveraged, the need to meet margin calls restricts liquidity and trading activity. This further limits the ability of investors to provide market liquidity just when it's most needed.
Other investors are constrained by mandates and investment rules. ETFs, which are now a major influence, must adjust holdings to reflect the underlying benchmark, irrespective of value or price considerations.
Algorithmic traders compete with central and commercial banks in chasing safe and highly liquid assets. Perversely, this diminishes liquidity for those assets.
Diminished trading liquidity has several implications for investors. Their ability to trade is increasing fragile. Volumes can evaporate quickly when volatility rises, as investors turn from buyers to sellers and algorithmic traders withdraw.
In effect, providers of liquidity then become users, destabilising markets. Price discovery, which underlies all trading and valuations, becomes unreliable.

The different focus of investors in the current cycle complicates matters. Investors searching for return have invested in riskier, less liquid assets. As investors in Argentina have discovered, a quick exit is sometimes impossible in emerging markets.

There's also heightened risk of investors being unable to exit "gated" funds where redemptions are suspended. The three largest UK property funds froze over $US12 billion in assets in the aftermath of the Brexit vote.
More recently, the Swiss fund manager GAM Holding and iconic UK investor Neil Woodford have blocked redemptions.Bank of England governor Mark Carney has warned that investment funds that promise to allow customers to withdraw their money on a daily basis are "built on a lie".
There are broader implications. Illiquidity may precipitate fire sales and large asset price moves, resulting in sudden and sharp tightening in financial conditions.
In 2007, then-Citigroup head Chuck Prince made an ill-fated comparison to investing as a game of musical chairs: You kept dancing while the music played.
The problem, as traders are rediscovering, is finding a chair when the music stops. Investors are underestimating and under-pricing the risks diminished market liquidity could pose in the next downturn.
PE Ratio (TTM) Range, Past 5 Years
Minimum 9.917 Jan 27 2016
Maximum 20.70 Sep 04 2018
Average 15.47
Date Value
Aug 22, 2019 21.75 estimate
Jan 1, 2019 19.60
Jan 1, 2018 24.97
Jan 1, 2017 23.59
Jan 1, 2016 22.18
Jan 1, 2015 20.02
Jan 1, 2014 18.15
Jan 1, 2013 17.03
Jan 1, 2012 14.87
Jan 1, 2011 16.30
Jan 1, 2010 20.

Investors should be worried about the music stopping
Investors are underestimating and under-pricing the risks diminished market liquidity could pose in the next downturn.

Satyajit Das

Several factors are roiling world markets right now, from fears of a possible US recession to erratic policymaking, trade tensions and general uncertainty.

But the unusual size of the moves -- regularly on the order of 1 per cent to 3 per cent -- is being heightened by something else: the struggle to find someone with whom to trade.

The decline in trading liquidity is evident in several metrics. Volumes have declined. Since 2007, average daily trading in US Treasury bonds (measured as a percentage of market size) has fallen by over 60 per cent.

Trading in traditionally less liquid corporate and high-yield bonds has shrunk by similar amounts. The number of small trades (under $US1 million) has grown, suggesting a lack of partners for larger deals.

Over the same period, US equity market turnover has also shrunk. Goldman Sachs estimates that in 2018, by some measures, single-stock liquidity fell 30 per cent to 40 per cent.

Other telling indications include significant intra-day moves, frequent price spikes, higher volatility of bid-offer spreads and the proliferation of flash crashes such as the sharp increase in the Cboe Volatility Index or VIX at the end of 2018 and the Japanese yen flash in January 2019.

Structural changes are driving this trend. For a variety of reasons, traditional market-makers such as banks and dealers have become less active; bank trading assets have fallen from 40 per cent of total assets in 2008 to half that figure.

Regulatory changes have made trading more capital-intensive. Meanwhile, industry consolidation has reduced the number of participants. The trading inventory of government and especially corporate debt has fallen.
Trading liquidity has instead become dependent on different kinds of investors. Algorithmic traders now make up around 50 per cent of US equity trading.
Other providers range from pension fund and insurance companies to mutual funds, exchange-traded funds or ETFs, hedge funds and private investors.
The reason it works so well as a fear gauge is that SPY is the undisputed king of liquidity, with trading volume of about $US20 billion a day on average - multiple times more than any other equity.
This increased role for investors may be problematic. Investment funds and algorithmic traders are not natural providers of liquidity.

They channel investor money. Unlike banks, they do not have permanent capital to risk in providing liquidity or warehousing positions.
Traditional market makers, such as banks, can buy or sell based on assessed true value, building inventory and waiting for market fluctuations to subside. In part, this is made possible by the greater stability of their funding and capital base.

By contrast, ...see next post

Europe higher in premarket as EU looks to boost tech sector

Major European stock market indexes were trading with gains on Friday as a report revealed the European Union is looking to invest €100 billion into digital technology to counter firms from the United States and China in the field. Meanwhile, Brexit remained a hot topic after Prime Minister Boris Johnson met with French President Emmanuel Macron on Thursday while markets are preparing to learn more about international trade tensions and global geopolitical trends when the G7 summit starts this weekend.

The DAX jumped 0.47% at 7:28 am CET and the FTSE 100 was 0.40% higher at 7:26 am CET. The CAC 40 was 0.10% in the green at 7:30 am CET.

The euro was 0.10% lower compared to the dollar at 7:33 am CET, going for 1.10690. At the same time, the pound lost 0.20% against the US currency and changed hands at 1.22294.

Breaking the News / VP

Yes Prof, also gold which for the last couple of years only snapped up on bad world news, but quickly came back on any world good news following this more. Now it is happily for us doing the opposite, coming back a little with no bad news and Fed looking a little less likely to lower, but seeming to jump more on any bad economic or world news. As a result of my recent optimism, which started tentatively with some extra purchases around 80 , I naughtily bought a few more on Monday, 2662 ta 132.7, as cey took a temporary dip, to take me to a round 500,000, as I couldn’t resist. Now if the urge takes me to add more please tell me no, as I have far too many in this boat. But I remain a happy holder, I spent 2018 in gloom as I continually saw gold weak and our share price tumbling to 90 from 160 with lousy results; it fell further than. I predicted to 78,, but this board were cross with me for feeling negative, and some wouldn’t believe I was a holder, so I left for a while, as dear Tibbs once did, rather hurt. For the last few months I have felt positive like you, and still do. I do think that gold could take a tumble on good US China trade talks/agreement, but I feel with sentiment so strong if rates stay low ( a big IF depending on US economy), it will snap back up , and this has further to go. I do not post hoping to make the price rise from my tiny remarks on this board, the share is far too big for that, but I remain a long term holder first in at 50, not believing I can time markets, just adding but definitely now have enough. I very much appreciate others’ contrary views, which help me question mine and being honest in what they think. Finally it is a relief to me seeing gold take a breather as was getting too frothy, and can now hopefully build a base for further rises. And as you said Cey is looking even happier with happier news of its own to add to strong gold, look at Hoc and Fres both repeating us last year (tho helped by rising not falling gold) on production and cost figures.

... considering drift lower of POG.

Europe lower in premarket trade, ECB, Italy in focus

Shares on major European markets were lower in premarket trading on Thursday. More talk of a recession emerged as the yield on the ten-year US Treasury note fell below the yield on two-year debt for the second time in a week.

Furthermore, the Fed's minutes released on Wednesday revealed division among officials who cut rates for the first time in a decade at their last meeting. Later in the day, the European Central Bank will release its monetary policy meeting account. In addition to economic developments, investors continue to monitor the political situation in Italy.

The DAX lost 0.32%, the CAC 40 fell 0.19%, while the FTSE 100 dipped 0.34%. Meanwhile, the euro was flat against the dollar at 7:25 am CET, buying 1.10830, while the pound declined 0.04% versus the greenback, to go for 1.21230.

Breaking the News / JC

Europe trades mostly flat in premarket

European shares were muted in premarket trading on Wednesday as Italy's coalition row led to the resignation of Prime Minister Giuseppe Conte. Italian President Sergio Mattarella will now decide whether to call an election or form a new coalition.

In Brexit developments, UK Prime Minister Boris Johnson asked the EU to replace the "anti-democratic" backstop with a "commitment to put in place such arrangements as far as possible before the end of the transition period, as part of the future relationship." However, European Council President Donald Tusk dismissed the request.

The DAX moved up 0.10%, while the CAC 40 and the FTSE 100 were flat. The euro was flat against the dollar at 7:30 am CET, buying 1.10938, while the pound declined 0.12% versus the US currency, going for 1.21550.

Breaking the News / JC

At last Tibbs, the powers that be are rewarding people that follow the path of a vocational education and do well and putting them on an even footing as academics - at least that’s how I see it. Someone should have a knighthood for this: https://www.bbc.co.uk/news/education-49410325
The best bit of common sense I have heard for a long time.

https://www.bloomberg.com/news/articles/2019-08-20/swiss-gold-exports-to-u-k-hit-6-year-high-on-etf-surge?srnd=premium-europe

https://www.bloomberg.com/news/articles/2019-08-20/buy-gold-at-any-level-mobius-says-as-central-banks-cut-rates?cmpid=BBD082019_MKT&utm_medium=email&utm_source=newsletter&utm_term=190820&utm_campaign=markets

Europe slightly in the green in premarket trade

European stocks were slightly higher in premarket trade on Tuesday as reports suggested the European Union dismissed demands from London to remove the Irish backstop from the withdrawal agreement between the United Kingdom and the EU. Investors remained focused on global trade and the US-China trade talks after Vice President Mike Pence revealed Washington sees Hong Kong's integrity as a condition for a trade deal with Beijing. Meanwhile, a trade group, that includes major US tech companies, slammed France for introducing "discriminatory" digital tax on US firms.

German producer prices data the EU's construction output figures are due later in the day.

The DAX was 0.07% higher at 7:23 am CET and the FTSE 100 gained 0.06% at 7:22 am CET.

The euro was 0.04% up compared to the dollar at 1.10826 at 7:25 am CET. The pound was flat against the greenback, declining 0.02% to 1.21231 at 7:26 am CET.

Breaking the News / VP

Monday, 8/19/2019 15:14
GOLD PRICES slipped below $1500 in London trade Monday as global stock markets rose on fresh hopes of stimulus from Germany and China, while US President Trump said US and China are "talking!" about resolving their trade war, writes Atsuko Whitehouse at BullionVault.

Spot gold prices fell 1.2% to $1498 per ounce as the Dollar index, which measure the greenback against a basket of six other major currencies, steadied near Friday's 2-week high.
https://www.bullionvault.com/gold-news/gold-price-082220191

Aug. 19, 2019 5:25 AM ET|By: Yoel Minkoff, SA News Editor

There's a lot going for stocks this morning ahead of a week that's light on data and heavy on monetary policy, including FOMC minutes and the Fed's annual policy symposium at Jackson Hole.

President Trump further ignited sentiment by saying his team is "doing very well with China, and talking!" while stating Apple CEO Tim Cook made a "good case" against Chinese tariffs.

Add in some stimulus hopes, with the PBOC unveiling key interest rate reforms to help steer borrowing costs lower for companies, as well as reports of new fiscal stimulus in Germany.

We may be up soon, see link :-
https://www.bloomberg.com/news/articles/2019-08-19/germany-readying-stimulus-plan-as-contingency-for-deep-recession

Gold was down this morning but is now coming back fast and is only 0.91% down at 1498.81, hardly a fall at all. Talk about the ECB and Fed cutting rates will mean the price will rise in anything. Goldman Sachs actually feel the price will rise to USD1600oz. Once Trump starts tweeting and as the Iranians are threatening the Americans I do not see Gold falling much if anything at all. We may even go up by the end of the day!! Lets hope he has his fingers on the tweets.