Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Thanjs Mr T,
Many are banking on this happening.
I predict end of 2022 when finally the US futures market will really feel the pinch.
"The #ArabianShield is a very big un-prospected #geological terrain which links to the #NubianShield across the Red Sea," Bristow said. "Centamin's Sukari mine in Egypt is a massive, Tier 1 #gold deposit. This proves that this region is elephant country, and we want to be here.
We’ve recently invested in Egypt & have committed to local leadership."
https://twitter.com/RGNonline/status/1481567680998121472
RGN took part in an exclusive media briefing led by @BarrickGold boss Mark Bristow at
@FutureMineral. In the Q&A session, Bristow talked about Barrick's growth ambitions in the Middle East, and Saudi Arabia's opportunity to become a regional #mining leader
$ABX $GOLD #FMF2022
---------------------------------------->>>>
Any doubts Bristow isn't in the region to visit Sukari?
Also, I wonder what "we've committed to local leadership" in Egypt means.
IMO those 4 former Barrick employees now working at Sukari speak volumes...
Ep.58 Gold and Silver Price Outlook 2022
Andrew Maguire shares his gold and silver price trajectory projection for the year ahead and explores the bullish momentum, triggered by the Basel III implementation that is now carrying through the market.
The precious metals expert drills down the evidence of a tightening physical supply and analyses the liquidity providers’ behavior, in anticipation of the explosive changes that are looming on the financial horizon.
00:00 Start
01:55 A summary of the past few weeks in gold
08:20 Where is the selling coming from?
11:11 What to expect in the gold market now?
15:05 Basel III now goes fully into effect!
17:15 Could March 2020-style EFP blow-up be repeated?
25:05 Changes to CME performance bonds requirement
28:55 An exciting update for Silver Stackers
31:00 EFP and the Refinery supply issues
Please note The opinions expressed in this video of Andrew Maguire and any guest
Red to blue so far today.. sp slowly but surely creeping up since the broker buy recommendations at 88/9p area.
Pog + $31 this week. Test and break of 1830 resistance hopefully next week. Currently $1823
Politicians will always side with the populous for obvious reasons GN.
Thanks Mr B.
I have invested in properties, and made a reasonable return, but never as an invesment - a lifestyle for my wife and myself and family? I also have provided homes for our many childen, but this is part of the giving back campaign, as I now know I can take very little into the next world.
I think property investment is a hardish game, that now is harder with "rent forgiveness" as being the newest political innovation (apart from deporting Djokovic, more later). Controlling timing is hard, and I dont like this concept. Lots of fees, and unknowns appear on your doorstep.
I like liquidity. A sadder statement is, that itieasier now to make a living out of financial trading this and that on line. Work from home or anywhere. Work when you want. No HR department, easy to keep the books. Its attracting the brighter minds, work on your termers as they now explain themselves, and I would be with them. Why do the grind stone routine, 9-5, work for someone else for peanuts, HR departments, dry team meetings, doing not what you like necessarily, nor when you like it nor where you like it. I like the new world, and appreciate it will look nothing like the world that I grew up in. Cest la Vie !
Yes our marvellous breath-taking politcians have decided to deport Djokovic, using all of the extravagant intellect and qualifications they are endowed with and that are nauseatingly on display 24/7. Another step down in my opinion. They serve not the people who elect them, but I cannot complain as I have not bothered to encourage them by voting.
The cricket is getting more exciting, and I do hope you people int he UK watched the first 10 overs of day
(continued) So are there any reasons gold should now emerge from its funk?
The behavior of the US dollar. In recent days, the US dollar has started to roll over, with Wednesday’s release of December’s US CPI print appearing to have added to the US dollar’s decline. Beyond the US CPI number, US growth stocks are no longer outperforming. This is a problem for the US dollar. The US runs massive twin deficits. For the US dollar to be strong, US capital markets must consistently attract large inflows of foreign capital. When US growth stocks were outperforming, it was easy for the US to attract large sums of foreign money. But if US stocks are no longer perceived to be “special” and worth large valuation premiums, then to attract capital, the US economy will have to do what other economies do: attract money through a deeply undervalued exchange rate.
Chinese policies. In 2021, China was an anomaly in that local policymakers sat firmly on their hands. When they didn’t, it wasn’t to provide help to a Covid-infected economy, but to gun down industries—education, internet platforms—that had got into the leadership’s crosshairs. This is now changing. In 2022, Chinese policy is likely to be more supportive of growth and markets. This should be good news for the broader emerging market space. And as we’ve seen, good news for emerging markets tends to be good news for gold as a derivative play on emerging markets.
In short, as 2022 gets under way, a number of trends appear to be unfolding:
US dollar weakness;
US growth stock underperformance;
Emerging market outperformance (see Playing Emerging Markets In 2022);
Easier Chinese policies;
A US Federal Reserve that remains well behind the curve.
Each of these trends by itself would be favorable for gold. Together, they could make for a potent combination. This may help to explain why for the first time since the spring of 2021, gold is trading above its 200-day moving average, while the slope of the 200-day moving average is once again positive.
Looks to me like reality is appearing at last, as the Fed has played itself intoa corner of self realisation of its head in the sand policies, and now the chickens are coming home to roost.
Just when Ray Dalio is predicting civil unrest in the US (yes, he has been doing this for a while, jus out on the timing by a year or 2, but watch)
https://www.forbes.com/sites/maneetahuja/2021/11/29/ray-dalio-says-americas-decline-will-upend-lives-not-just-portfolios-the-billionaire-investor-paints-a-dire-scenario-in-his-new-book/?sh=170306203c4f
Good luck.
Spare a thought for gold bugs, like me. Go back a year to the beginning of 2021, and the gold bugs’ reasoning was clear. Inflation was coming. With all the money-printing and fiscal stimulus across the rich world, inflation would breeze past the 2% rate the consensus was expecting at the time. From there, it would be just a short skip and a jump to higher gold prices.
As we now know, inflation did indeed breeze past 2%. But the skip and a jump to higher gold prices never happened. Gold bugs were left with the depressing spectacle of rapidly rising inflation eating into the real value of their gold holdings. To add insult to injury, gold prices actually fell. Through the second half of the year, as OECD inflation kept powering higher, gold repeatedly ran into resistance at US$1,830/oz, to end the year down -3.6%.
what went wrong? The most obvious explanation is that gold’s relationship to inflation is hardly one-to-one. Sure, over the very long term gold is an inflation hedge. But this doesn’t mean the relationship holds true over every quarter, or even over every year. Instead, as Gavekal has long maintained, investors should look at gold as a derivative play on emerging markets.
Nowadays, most of the world’s demand for physical gold comes from India, China, the Middle East and Russia. Over time, this demand for physical gold can create powerful self-reinforcing feedback loops, either to the upside or to the downside.
For example, a strong US dollar leads to tighter financing conditions across the emerging markets, and so to weaker growth. In turn, weaker growth leads to weaker demand for physical gold among poor emerging market consumers. Sometimes, liquidity conditions can even get so tight that rich Indians, Chinese or Russians are forced to cash in some of their gold holdings for US dollars. This pushes the price of gold down and leads to an even stronger US dollar. Wash, rinse, repeat.
In the upside feedback loop, strong growth in the emerging markets leads to higher disposable incomes in the local economies. Local savers put some of their money into gold, which rises in price. As the price of gold goes up, more savers part with more of their US dollars to buy gold, and the US dollar falls. In turn, the weakness of the US dollar leads to easier financing conditions for emerging market economies, which leads to stronger growth. Again, wash, rinse, repeat.
Between 2002 and 2011, the world experienced the second kind of feedback loop: emerging markets boomed and gold prices went through the roof. Since then however, emerging markets have struggled and returns on gold have been dismal, in spite of negative real interest rates and accelerating OECD inflation.
So are there any reasons gold should now emerge from its funk?
(to be continued)
European stocks were lower in premarket trading on Friday as investors awaited an array of economic data, including trade balance figures from the Eurozone and the United Kingdom.
The FTSE 100 fell 0.56%, the DAX slid 0.78% and the CAC 40 dropped 0.87%.
The euro added 0.23% against the dollar to sell for 1.14781 at 7:09 am CET and the pound rose 0.22% compared to the greenback to go for 1.37338 at the same time.
Baha Breaking the News (BBN) / NP
Have a good weekend y’al
Maybe that is why Gold and prodcers are being kept down ?
good post.Thanks Mr Goldgnome.
You forgot about investing in properties and rental,but only if you have good bouncers.
And the law does not change, preventing rental increases, as happened in the 1930 s in the UK/
where the tenant .if they paid, was secure with their contract, Till Death do us Part.
Maybe off topic a little ,if so sorry. ;-o ,
Interesting analysis on the magnitude of inflation, and the rate of inflation, produced recently. What has had the greatest impact on investment returns, and what would one invest in?
The first key finding derived from the anlaysis is that abnormally low interest rates will always cause a collapse in productivity. When inflation eventually emerges, P/E ratios must shrink due to the resulting fall in the structural growth rate, which will drag corporate earnings lower. The SandP 500 Shiller P/E Index near all time high, and when this has happened it collapses (see black Tuesday, 1929)... about to turn down, fast?
https://www.multpl.com/shiller-pe
If this is true, then monetary policies followed by Europe since 2000 will be the main cause of the collapse in European structural growth rates and Europe will face a depression—not despite low rates, but because of them..vicious cycle? as low rates will lead to low growth, leading to even lower rates... The system will eventually break down, not because growth picks up, but because prices do.
...second key finding is that abnormally low interest rates will always spur higher inflation (unless a deflationary crisis hits the economy). As a result, the central bank will eventually be obliged to raise those rates.
Overall, this finding seems to work from 1938 to 1958, and again from 1982 to 2002... two notable exceptions:
1966-1972: inflation was on the way up, even though real rates were positive. This was likely due to the US government’s “guns and butter” policies...Vietnam war and the Great Society program. An external shock occurred when the US decided to float its currency in 1971, after which inflation really took off...
2009-present: US real interest rates have been negative through the period, until last April there had been no significant rise in inflation...over the last 12 years there have been three massive deflationary shocks: the great financial crisis, the euro crisis and the Covid crisis. These three successive crises kept prices suppressed.
..today situation looks similar to 1975, one year before US bonds began their worst ever bear market.
Now? inflation is accelerating; real rates are negative. The central bank is way behind the curve. Impact: bearish for long-duration assets...ANSWER: avoid losing money: hold cash in a good currency, hedge with gold, WELL POSITIONED GOLD MINING STOCKS and take fixed-income positions only in serious bond markets, if you can find them.
Additonal worries:
1. Productivity in key areas like manufacturing, all time lows,
https://www.bls.gov/lpc/prodybar.htm
2. Disruption to work force practices (work from home,--> cafe, bar?), supply lines/ logisitics (etc) ... caused by flow on from government covid managment protocols..they known not what they do.
Happy to have gold exposure in these times, good luck to us all we may need it!
best
the gnome
Absolutely agree with Mr Gnome, although there isn't any chance of Bristow tripping over his ego, it is after all the size of Everest!
After closing in the green, European activity ahead of Thursday's session was flat. Spain added a new record number of daily COVID cases in the previous session, and France reported a near-record number. Data releases and more news on inflation are expected throughout the day.
At 7:26 am CET, the three major European indexes were flat, with slight differences. The DAX was losing 0.02%, and the CAC 40 was down 0.05%, while the FTSE 100 fell 0.07%.
The euro lost 0.08% to the dollar to sell for $1.14407 at 7:34 am CET, as the pound sterling stood flat, going for $1.37072 at the same time.
Baha Breaking the News (BBN) / JGA
Goldgnome - Australia sounds a lot like Canada! Damned if we can get a natural gas pipeline approved in under a decade (if ever.) Interprovincial politics at odds with each other. Good for little carbon tax and emission caps driving away investment. What these geniuses in power fail to appreciate is that there is no alternative to heat one's home (besides burning wood!?) in the winter living through minus 30 degree winters. I'm all for green initiatives except that all the green is on the government revenue side with 60% of a tank of fuel going to all the various taxes. Between the red tape and ill-conceived climate plans I think Egypt and West Africa are looking pretty good for investors.
Thanks Cowichan
I wonder if Mark Bristow sees Australia as risky place to invest, red tape going through the roof, more compliance, native title now moving into a compensation phase (thanks Twiggy Forrest and Fortescue! Rio! BHP!) etc. It will depend on how they see themselves as managing the different types of risk. The risk of CEO's tripping over their extra large ego's is another form of risk for investors.
best
the Gnome
The so-called ‘Arabian Shield’ is the perfect place to explore in the quest to find much-needed minerals and metals, a leading mining businessman has said.
Speaking at the Future Minerals Forum in Riyadh, Mark Bristow, president and CEO of Barrick, called for more investment in the mining industry from governments across the world.
But he warned that investors need to understand that returning to “safe jurisdictions” such as the US and Europe will not provide the supplies needed
https://www.arabnews.com/node/2002771/business-economy
-------------------------------->>>>
Mr Bristow putting shareholders on notice - jurisdictional risk is back on the table.
And as a side note: Mr Bristow is the third highest paid mining executive, according to Bedford’s 2021 survey - C$22.9 million
https://f.hubspotusercontent10.net/hubfs/9023719/Compensation%20Reports/2021_BedfordMiningCompReport_Published_Jan2022.pdf
Mr Tibbles governments seldom try getting involved in the judgments of judictiories.
For fear of being branded Dictadorial.
The Law is above Governments and permanent ,unlike Governments.
That may be part of the reason.
But the Law can at times can'BE AN ASS'
Thank you Mr Bond, lets hope they sort out the SCC, Law 32 and the still outstanding court case soon too!
https://enterprise.press/stories/2022/01/12/this-evening-macro-group-ipo-gets-green-light-from-egx-listing-committee-egypt-to-dig-for-gold-other-minerals-in-new-industrial-mining-cities-62577/
Egypt plans mining cities for extraction of Gold Copper and phosphares incluing refinery.
imo this stock is so cheap at the moment.. topped up several times and happy to hold while enjoying the dividend.. can see this back around £1.40 within 12 months. dyor..
Yes, there is discussion on a total ban on alcohol in Australia. Its a pandemic that has been raging for more than 200 years, and rumoured to have come out via the first ship from the UK? The Serbians are denying they started the rumour
Keep your senses of humour
the gnome
We are all going to catch it eventually. 90% won't be significantly effected, which means 90% of the resources we've thrown at this have been wasted. We should use a bit more intelligence and target our response.
https://gbdeclaration.org/
Major European stocks stood deep in green territory ahead of Wednesday's session, continuing positive sentiment from yesterday's trading in New York prompted by remarks from Federal Reserve Chair Jerome Powell.
In a hearing before the Senate Banking Committee, Powell noted that the high inflation will likely prolong at least until the middle of this year, adding the Fed could increase its key interest rates even more than planned if inflation risks remain elevated. In Europe, the coronavirus-related concerns seem to have eased despite the spread of the Omicron variant still pushing record COVID-19 numbers across the western bloc.
The DAX gained 0.76%, while the FTSE 100 rose by 0.63% and the CAC 40 expanded by 0.86% at 7:03 am CET.
Both the euro and the pound recorded slight gains against the dollar at 7:15 am CET to sell for 1.13740 and 1.36430, respectively.
Baha Breaking the News (BBN) / ND
Happy hump y’al
The prices of precious metals advanced on Tuesday, with both gold and silver gaining over 1% as the investors digested notions Federal Reserve Chair Jerome Powell came out with during his testimony before the United States Senate.
The so-called safe-haven assets were seemingly buoyed by a weaker dollar, as well as Powell's forecast that inflation will remain elevated "well into" 2022.
Gold rose by 1.05% at 2:00 pm ET, selling for $1,819.8 per ounce, while silver jumped 1.33% at the same time, to go for $22.77 per ounce. A minute later, platinum surged 3.3% to $975.21 per ounce, with palladium moving up by 0.34% and selling for $1,921.5.
Baha Breaking the News (BBN) / BU
…..
This article is marked “2 hours ago” since then gold closed at 9pm at $1823.07