London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
"It's nevertheless good to see some action on Gold today"
And once again, the 'action' disappeared back to a 0.17% rise. WTF is going on with gold! This is becoming a joke and on looking at how much gold miners have fallen from the peak, compaed to gold itself, it's a joke. I don't even want to think what would happen to the gold miner prices if gold actually dropped 5%. At this rate, CEY and the like would drop another 20%. This is more extreme than bitcoin.
Not true, although depends on what you mean by clamping down- since China made its announcement Bitcoin has risen a lot.
Bitcoin has also risen a lot since Powell made his comments-
This is what Powell said:
“ U.S. Federal Reserve Chairman Jerome Powell said he does not intend to ban cryptocurrencies, but said stablecoins need greater regulatory oversight.”
When asked by Budd directly whether or not he intended to “ban or limit the use of cryptocurrencies,” Powell’s response was a resounding “No.”
“[I have] no intention to ban them,” he said.
Powell’s remarks come just two days after he asked Congress for consultation and legislative support to develop the digital dollar. Some in the crypto community have speculated that the establishment of a U.S. CBDC would lead to bans on private crypto, as was recently seen in China, but Powell’s remarks suggest otherwise.
When asked about stablecoins, Powell compared them to money market funds or bank deposits.
“They’re to some extent outside the regulatory perimeter, and it’s appropriate that they be regulated. Same activity, same regulation,” Powell said.
I've been thinking this for some time now. I think it just makes precious metals, (and stocks in general), and bitcoin potentially more volatile as the big boys play between them all to maximise profits
Also they have said recently they would clamp down on bit coin as the Chinese have done. I would prefer to be in a GBP derived Precious metal miner than bit coin to be honest. Future now looks like support for Gold/Silver and less for the USD.
Fed will be very restricted now and they cannot stop the limit growth their is. They need the participation rate to rise first - no sign of full employment where the employment level has in fact reduced by 700k. Gold/silver will be supported form some time yet IMHO. It will be good to see where we are in a months time.
Looks like a classic head and shoulders move on gold and silver forming in the minute charts. I pulled out just in case for the short term play. GLA
OK, it's not just a theory.
JP Morgan says that Institutional Investors are taking money out of gold and putting it into Bitcoin. It's nevertheless good to see some action on Gold today. Hope it last as all my gold miners are underwater and have been for several months.
https://www.nasdaq.com/articles/jpmorgan%3A-institutional-investors-are-favoring-bitcoin-over-gold-2021-10-07
I doubt it too
Big miss on the non-farm jobs data in the US. Inflation is lasting longer. People not going back to work quickly enough, possibly a slower US economy recovery implied. US taper potentially pushed back to 2022, but I doubt it.
Have they hit for the time being hit full employment with less job opportunities? Unem rate down to 4.8 from 5.1 but expected to find 500,000 jobs and only 190 found. USA economy lagging - spot golds should rise and dollar should fall? Could be very good here for Fresnillo as well as Hoc and Cey.
Any theories on the sudden surge of the POG since NY opened?
Yep, I banged 10% of my portfolio value into CEY and POLY on the announcement. Immediate return.
In the title
Sotolo,
Really can't see the divi being cut and confident it will easily be covered!
Read Goldgnomes post and stop worrying!
n this week’s Live from the Vault, Andrew Maguire explains why he believes gold is coiled to breakthrough crucial resistance and silver is extremely structurally bullish.
With Options Expiry price-capping playing out exactly as predicted, the precious metals expert reveals that Russia and China are seizing the opportunity to grow their already substantial physical gold reserves.
Shifting to the COMEX, Andrew Maguire crunches the numbers on the tonnes of gold and silver demanded for delivery into the October contract.
https://www.youtube.com/watch?v=0cbafHgqtZ0
Sotolo please note --The opinions expressed in this video of Andrew Maguire and any guest, do not purport to reflect the official policy or position of Kinesis.
I hold some BTC. I hold some CEY. I can see pro's and con's for BTC and AU. Nothing wrong with diversity.
Ahh. Got it.
Yeah, I'm in BTC and the BTC miners. I finally realised that they are no more risky than CEY......
Ultimately, all miners are like a call option on the underlying commodity and if that commodity drops, it gets nasty. I keep telling myself that gold is about to have its day, but the market does not agree and I am concerned that a lot of big investors have moved to BTC. e.g. even George Soros holds it and the trading volume is gargantuan.
At least CEY pays a decent divi.
Equally may buy more if it goes up (eg gold goes
Up)- but it’s tricky as gold can whipsaw on data coming out as other data eg wage growth, hours worked , sectors etc can alter the immediate move- as always do your own research.
Long termers can largely ignore as today is just monthly data points - unless they feel a trend… major long term impacting change as we all know comes from rns- like Oct2020
Bitcoin.
On cey I will wait until 13:30 before I increase or not today.
If it drops may buy more, but dependant on what I think at the time .
@SteveJones: "it’s nearly doubled since the low in July- just saying …"
Hmm. Are you talking about CEY? I don't see any doubling.
I like to tell myself that it's 'dropping less' and the gold *might* be about to shine, but it's a bit early for me to start increasing my position.
In the interest of balance (posts appear when it goes down)- it’s nearly doubled since the low in July- just saying …
Shame thatAndrew Sabisky did'nt spaek up rather than sitting on the fence if this superforecasting predicted what amess the UK would be in now Sotolo!
https://www.bbc.co.uk/news/uk-politics-51545541
https://fs.blog/2015/12/ten-commandments-for-superforecasters/
Goldgnome excellent summary.
Great posts, your post re your father’s poetry and grandmother reference was also excellent.
Thank you for your contributions.
Yep, just moved broadly in line with all other PMs.
Price most likely to move around 13:30 today when NFP comes out and with ensuing commentary on other aspects.
CI
What is the correlation coefficient between CEY SP, and the price of gold in the last 6 months?
What is the coefficient since Nov 1 2020?
What was the correction that happened at the end of October 2020? This essentially created a 20% instant drop in SP, and started a downward momentum reflecting loss of faith for a short period of time, after which the SP seems to have tracked the POG.
Recall: The reason behind the miner’s share price tumble today is that the company has announced it is reducing its production forecast for the fourth quarter of 2020.
In an operational update, Centamin advised that it has detected movement in a localised area of waste material in its Sukari mine. As a result, it has decided to immediately defer open pit mining operations in this zone. This decision is a preventative measure to protect the health and safety of its workforce and the long-term potential of the Sukari gold mine.
It expects that production for the fourth quarter will be reduced to approximately 70,000 ounces. That compares to preliminary gold production for the third quarter of approximately 120,000 ounces.
So to my childish mind, it seems that what is required is faith to be restored, and confident talking and articulation of strategy and action plans is one step forward of doing this in the short term. If the walk follows the talk, and we see cost savings realised, we see production stabilise and creep up, we see reserve expansion, we see monetarisation of the West African assets, we will see this as building positive SP momentum towards a true value of this company.
If this does not happen, the company in my opinion is undervalued, and as such is a takeover target for growth orientated companies who have competent confident management.
It is not analysts’ education, state school and redbrick/ex poly educated ones are just as bad, it is the nature of the job - read super forecasting, which posits that groups of informed amateurs, who argue their opposing views, are far better than analysts who follow the herd; , why all views are so important on these boards and tolerance of others is not only courteous but helps in seeing where a share will go. With Cey just now it is hard to tell, but if the financial year shows profits much reduced as expected, maybe another lurch down despite what the gold price does, unless investors are prepared to look at the recovery that now begins little more than a year off (if for once all goes according to plan). The other big question is whether profit will cover the divi and if, as is probable,it doesn’t whether and by how much the dividend is cut.