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USA finding it difficult to get pog below $1900 so far today with their paper contract shuffle..
Fiat verses Gold .
For the US is very important.
For loss of confidence in the petro Dollar, they will do anything to avoid it happening.
This war has been going on for a few years now.
It all depends on China , they need to trade ,the rest of the world needs their low priced producuctivity.
Difficult to see where and how it will end.
IMO.
predictable selling pressure now that the States are open
it really is a fiat vs gold east west divide
100 is psychological for humans not computers- 100 exceeded
astro999,
Because of strong selling in the high 99 range. 5% rise in a day is good for CEY perhaps traders ( read Blackrock ) think it could drop back a bit.Not if POG goes through $1965 INMHO !
Seem to have alot resistance 100 mark ?why?
Almostdone,
A number of Cental Banks have been buying gold, but notably China and Russia, I beleive this is to challenge the Petro-Dollar, with talk of a Gold Backed Petro-Yuan going back some years. Looks like now could be the time this plan is put into action.
Russia and China have been buying gold and reducing dollars, especially Russia. Still I think there’s only so much they can do
Oil prices swung higher once again, with the price of a barrel of Brent crude oil lifting 3.42 per cent to 101.28 dollars.
However, the situation was far more dramatic in Russia, where the country's central bank raised its key rate in a desperate attempt to shore up the plummeting rouble and prevent the run of banks amid crippling Western sanctions over the Russian war in Ukraine.
The bank hiked the benchmark rate to 20 per cent from 9.5 per cent.
It followed a Western decision yesterday to freeze Russia's hard currency reserves, an unprecedented move that could have devastating consequences for
https://www.dailymail.co.uk/news/article-10559545/BP-shares-slump-4-faces-25BILLION-Russia-hit.html
I’m sure last year it had been reported that Russia and china have been buying gold. If true, they could have been preparing for this outcome for some while.
Once over the weekend, and again this morning, I visited the Royal Mint website to check the spot price of gold. On both occasions I’ve had to wait in a virtual line to get on to the website which I haven’t experienced before.
Got to be a low key bullish indicator?)
Halfpenny, gold is gold so where it is from makes little difference, if the Russians need money and lower their asking prices they will be able to sell gold. Who would have thought the Russians would raise their nuclear war footing, and gold would be back below 1900? However better than the post on the advfn Cey board “ Nuclear war would kill millions in the first week. ..but gold would rise. We gold investors could do with such a lucky break.”. Lucky…? It is been heartening to read so many decent posts here. I still believe that low real interest rates and high inflation will in the end help gold as long as Russia doesn’t/isn’t able to flood the market.
European stock exchanges traded with losses in the premarket session on Monday as the situation in Ukraine remained in the focus of investors. Kiev and Russia are set to hold negotiations later in the day after the European Union announced new sanctions against Moscow yesterday.
The DAX declined 1.36%, London's FTSE 100 decreased 1.62%, and the CAC 40 lost 0.71% at 8:01 am CET.
The euro was 0.94% lower against the dollar at 8:02 am CET, trading at 1.11580. The British pound was 0.31% down compared to the American currency, going for 1.33709 a minute later.
Baha Breaking the News (BBN) / MS
Happy Monday y’al
An update from...Oz?
https://www.youtube.com/watch?v=whnhIrtd9Fc
From about 7:50, Dirty Laptop, Biden, Censorship, US Elections and Ukraine - what is possible?
https://www.youtube.com/watch?v=5TBn4Fy7jMo
It does make me wonder just who knows whats really going on ...
The continual breakdown of trust is a great thing for gold ....
Just my humble opinion
the gnome
Ha Ha.
Think about it ,Gold will drop , .
Who will they blame .
No prizes for guessing.
The perfect time.
We will soon see.
I love that 10 year Cup and handle...eventually it will break out...maybe not now but this year at some point
I am bewildered by the majority price predictions expecting a lower gold price by end 2022 -However given the likely rapid inflation and despite higher interest rates - I am still waiting for the bull market promised by soothsayers as a result of vast money printing . Can anyone quide me ?
No one will have a chance of buying Ruuin Gold.
It is more likely its exports of wheat wiii nead to be paid in Gold, they are enormous, with only Ukraine close to the volume.
If you doubt ,look at the statistics.
That of course along with fuel.
Who's going to buy Russian gold just now?
This implies the opposite.
https://www.reuters.com/business/finance/russian-central-bank-resume-gold-purchases-domestic-market-monday-2022-02-27/
Thanks Halfpenny, Lovely chart but also depends on what gold does, Does anyone have any idea it if it will shoot up tomorrow, with the increased sanctions, or conversely if the worry will be the Russian central bank starting to sell down the huge gold warchest that it has amassed for this eventuality, with other reserves frozen abroad, as it attempts to defend the rouble. I am of course hoping the former?
On the daily chart, even with yesterday’s action, the short, medium and long-term averages are all sloping up and in golden alignment. The trend is up.
On a weekly chart the averages have all coiled and converged, they are starting to slope up and gold is starting to break out.
On the monthly chart, we have the most beautiful of cup-and-handle set-ups formed over 11 years. This is widely agreed to be a bullish price pattern.
Moves to Canada to work for Barrick (as previously noted)
https://www.facebook.com/Hemlo.Barrick/photos/a.109650610693267/458730072451984/
Jan 11, 2022
Barrick Hemlo is thrilled to announce that we are building our Geology team.
We would like to welcome two new members Hebert Oliveira and Christopher Le Cornu!
Also, said employee just checked out my LinkedIn posts regarding Centamin/Barrick employee swaps, HiSeis survey, pit wall incident, etc.
Wonder if former Centamin employees can still face consequences for shall we say 'questionable' actions and/or sharing privileged information?
"Our policy is to treat all shareholders equally. Therefore, we do not hold discussions with analysts nor large institutions. Whenever possible, also, we release important communications on Saturday mornings in order to maximize the time for shareholders and the media to absorb the news before markets open on Monday."
------------------------->>>
My Thoughts:
The rather new phenomenon of ESG manifestos - or the practice where companies toot their horns about how 'woke' they are - doesn't hold a candle to that short & simple Berkshire policy
Such a policy is the necessary foundation of shareholder engagement and accountability upon which all ESG frameworks can then be built
PS --> Centamin BOD's - this would be a HIGHLY beneficial policy to adopt if you are serious in regaining shareholder trust
https://www.cnbc.com/2022/02/26/read-warren-buffetts-annual-letter-to-berkshire-hathaway-shareholders.html