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Can't even hold 95p which is key I think
Whilst we all like to think of ourselves, as sane, emminently rational and highly intelligent, the evidence does not seem to support this. I am still plowing through THE PSYCHOLOGY OF STUPIDTY - AS EXPLAINED BY SOME OF THE WORLDS SMARTEST PEOPLE, and I must say it is rather sobering.
As for peoples belief in democracy (admittedly of various flavours) as being the "way to go", the fact that it serves up a never ending set of numb skulls like Boris (and I wont mention the lovable lumps down under) does not seem to be that disturbing? And so back to my Psychology book !
Damn odd place, damn odd race
best the gnome, .... sorry must race back to the pub!
I have my dividend and I near the bus stop at the end of the world. Watch the bankers, and the brokers, and the pollies....
good luck, off to the pub to spend a few bob on a cold beer!
the Gnome
But bankers have always loved the idea of using other peoples' money to lend out to others or help themselves for a couple of weeks.
I'm with Barclays too and haven't received my dividend yet. I called to ask why and they didn't know!!! They said they aim to pay within 10 days of the payment date. Thanks Barclays!
I haven't received it yet from Barclays
Barclay's have a reputation for not always being the fastest divi payers, it should be in your account by now you should ring them and complain.
Hi Charles,
Most certainly once market confidence is restored which should happen when it becomes apparent that Martin Horgan's new strategy at Sukari is working, which shouldn't be too far off!
As Rebess said a lot depends on the Q£ report, although I feel optimistic about that!
I have not got my dividend paid yet. Has anyone got their dividend? My broker is Barclays.
Mark59's,
Since you took a place on this forum note the the omission of anything of interest or relevant to Centamin, or gold come to that from you , just a load of boring pap that one might find on most of the other wful spiteful traders forums.
That said sir I don't care for the cut of your jib and care not a fig for what you think!
I don't often mention BREXIT- the evidence is there 100% which is why I dropped my main pension which is equity based down to a very small percentage after the vote in 2016- look at the other indices- DAX for example up ~43%, FTSE flat over same timeframe. I recently bought some race parts from Germany and got hit with 20% extra charge, had to pay £100 for a flipping carnet to transport a bike, the insurance also went up. the only benefit I've found so far is I got a stamp on my passport when I went into Spain :-). And why are we paying an extra 1.25% on NI? Doesn't make sense as it will raise about £10bn per annum, which is the same amount roughly as the £350m for the NHS we were told we would get on BREXIT- so where is this?
Boris & his Brexiteer's aid calling the public stupid was wrong. Until the public started panic-buying petrol.
It was, the occupiers of the moral high-ground said, sheer condescension to suggest anybody who voted for Brexit did so without fully understanding the implications for both themselves and their nation.
Nobody, it seems, was thick at the ballot box.
But when people sit in a two hour queue outside the nearest Shell garage, then suddenly their intellectual abilities come under a more forensic scrutiny.
Britain is suddenly full of eejits.
Piers Morgan, ever-coruscating to anyone suggesting Brexit voters might not have deployed their entire allotment of brain cells at the ballot box, told Twitter: “Judging by the ridiculous scenes at petrol stations all over the country, there is a massive brain cell shortage.”
(Also Piers Morgan: “If you demonise the Brexit supporters, if you tell them they are idiots and ******s and buffoons and so on, it just makes them stronger.”)
Dan Hodges, Mail On Sunday political columnist, told his Twitter followers: “There is no fuel-crisis. There is no Brexit crisis. There is a people-acting-like-idiots crisis.”
(Also Dan Hodges: “Remainers should carry on mocking the “thick” people who voted for Brexit. That will show them.”)
Dan Wootton of GBNews: “There is no shortage of fuel and if there hadn’t been the media hysteria from the usual suspects it’s unlikely we would have seen the panic buying that has caused chaos and carnage at the tanks the past two days.”
(Also Dan Wootton of GBNews: “They treated Brexit supporters like numbskulls who didn’t know what they were really voting for.“
You can’t have your cake and eat it, chaps. Either you believe in the wisdom of British crowds .. or you accept that they’re as susceptible to dumbness and media manipulation as anyone else.
And if you accept that, then please spare us all your man-of-the-people pontification about how “the will of the people must be respected” etcetera etcetera.
If you can’t respect the people’s will to drain the nation’s petrol dry, why should anyone have to respect their voting for the very thing that caused the lorry driver shortage in the first place?
Clearly, people are prone to making lousy decisions based on nothing more than a gut feeling that may, or may not, bear any resemblance to actual reality. Like queuing up for 2 hours at a petrol station. Or voting Brexit!
Friday Comex
In contrast to Comex gold speculation, Thursday's reversal in gold prices left the SPDR Gold Trust (NYSEArca: GLD) unchanged in size at its smallest since April, heading for a 2nd consecutive week of net liquidation by the giant gold ETF's shareholders.
The giant iShares Silver Trust (NYSEArca: SLV) meantime expanded by 1.6% yesterday as silver prices rallied, putting it on track for a 2nd week of net investor inflows.
With global stock markets heading for their steepest weekly fall since January, down over 3.1% from last Friday ahead of the US opening, silver prices like gold reversed the last 2 weeks of losses for US investors, trading at $22.40 per ounce after touching 14-month lows a whole dollar lower on Wednesday.
While gold priced in the Dollar reversed last week's 1.6% drop, the UK gold price in Pounds per ounce today headed for its best Friday finish in four, albeit 1.0% below an overnight spike to £1307.
Gold prices for Euro investors also showed strong week-on-week gains, heading for the highest Friday finish in three at €1510.
Friday, 10/01/2021 14:03
GOLD PRICES headed into Friday afternoon's London benchmarking auction around $1754 per ounce, reversing the last 2 weeks' drop as global stock markets extended their worst run of daily losses since the Pandemic Panic of February 2020.
Wall Street yesterday sealed its first losing month of 2021 and its worst calendar quarter since the Covid Crisis began in early 2020.
With China shut for the National Day holidays – marked by yet another incursion of PLA fighter jets into Taiwan's air space – Australian stocks today lost 2.0% and Japanese shares 2.3%, closing at 3-month and 1-month lows respectively.
The EuroStoxx 600 index then sank 1.5% at the start of Frankfurt and Paris trade as new data put inflation in the 19-nation Eurozone at a 13-year high of 3.4% – led by energy costs jumping 17.4% per year – and the European Union suspended trade talks with Australia over its controversial Aukus defense deal with the UK and US.
European shares then cut that loss to 0.3% but headed for the lowest weekly finish since mid-June, putting the MSCI World Index of major-economy equities on track for a 6th consecutive daily loss, the worst run since February 2020's Pandemic Panic.
Emerging markets fell less steeply to less notable lows however, with the BSE Sensex in gold No.2 consumer nation India down Friday to a 2-week low only 2.2% beneath Monday's fresh all-time high.
Gold No.5 consumer and Nato alliance member Turkey saw its Borsa Istanbul 100 index trade flat for the day by lunchtime, unchanged for 2021 to date after President Recep Tayyip Erdogan met Russia's Vladimir Putin to confirm Ankara's purchase of S-400 missile systems and discuss buying further military hardware including warplanes and submarines.
Thursday's 1.2% drop in New York's S&P500 only just comes in the worst 100 days of the last 5 years.
It saw Comex gold futures volumes jump to the heaviest in 2 weeks, with volumes in options – more leveraged again as a play on future prices – reaching the heaviest since 17 June, when gold bullion suffered its 8th worst-ever daily plunge following what pundits and analysts called "hawkish" comments on monetary policy from the US Federal Reserve.
Fed taper-talk and interest-rate forecasts have put government and corporate bondholders on track for their worst annual loss so far this century according to the Bloomberg Global Aggregate Index.
But with Western governments continuing to issue new debt at a near-record pace, investors are also lapping up unprecedented quantities of corporate debt and equity issuance, the Financial Times reports.
"The feeding frenzy, including more than $1tn worth of share sales and nearly $4tn of bond issuance, involves the biggest names in the corporate world," says the FT, "including Apple, Walmart, Baidu and Volkswagen."
THE ARGUMENTS ABOUT THE LATEST SOCIAL EXPERIMENTS IN THE USA CONTINUE, JUST AS 60,000 PEOPLE GATHER ON THE MEXICO BORDER. GOOD FOR THE US DOLLAR? ALL GOOD FOR GOLD?
Democrats, working to unite around a far-reaching social policy and climate bill, are weighing two different approaches to reduce its overall cost: eliminating proposed programs entirely or cutting their duration.
Democrats’ debate over the two options took on fresh urgency this weekend after President Biden said Friday that they would have to shrink the size of the legislation, projected to spend $3.5 trillion over a decade to expand and create education, healthcare, climate and other programs.
Centrists opposed that amount of spending, questioning the cost and the potential impact on inflation. Mr. Biden told House Democrats that, after negotiations with centrists, he expects the overall tab to fall between $1.9 trillion and $2.3 trillion, according to people familiar with his remarks.
Progressive Democrats, who backed the $3.5 trillion level, acknowledged Sunday the need to scale back the legislation to reach a compromise, though they said there’s no agreement on how much.
SO ON THE SHOW GOES, THE GREATEST SHOW ON EARTH WITHOUT DOUBT ...
Good luck to us all !
best
The Gnome
Equities in Europe traded higher in the premarket on Monday ahead of the release of the freshest report on the Eurozone's investor confidence. Earlier, the United Kingdom's Petrol Retailers Association (PRA) estimated the ongoing fuel crisis is "virtually at an end." Meanwhile, British Prime Minister Boris Johnson claimed the issues concerning supply chains the country is currently facing is due to it being the "fastest-growing economy in the G7 [Group of Seven]."
In the meantime, the French Foreign Ministry confirmed its head Jean-Yves Le Drian will meet United States Secretary of State Antony Blinken to discuss the tension between their two countries that emerged following the so-called AUKUS deal.
The DAX went up by 0.25% at 7:21 am CET. At the same time, the FTSE 100 advanced by 0.40%. The CAC 40 rose by 0.26%.
Both the euro and the pound sterling stood flat against the dollar, selling for $1.15982 and $1.35460, respectively, at 7:39 am CET.
Breaking the News / JR
What the experts do is spray enough predictions on the GP out over the course of time, that one of them is bound to be right, and then they claim divinity and immortality and so on. Its been going on for a while. I like to do my own research, watch the facts (not the jaw boning) ... money supply, real inflation, real cost increases, procurement/logisitcs, proper measurements of uncertainty...
best
Gold is an odd assett, been around for a long while..and it appears to do very well under a number of different investment environments (not all, but more than most other asset classes)
Valuing it is interesting, as it has so many different appeals, that it can be valued in many different ways...
The price of gold has increased substantially over the past 50 years, notably since 1970 when the us$ pegging of gold was lifted. Interesting to note the Two-tier gold system, an arrangement set up to protect international monetary reserves from the pressure of higher gold prices; under a two-tier system, monetary gold used as reserves would sell at a fixed price, and gold used as an ordinary commodity would sell at a freely fluctuating market-determined price. Abandoned in 1972, when gold was largely left to float on the market, although one wonders how free the market is, and how fair, transparent etc, and whether the proponents of the 2 tier system are still playing a game.
Like most commodities supply and demand is incredibly important, Mining supply is now led by China, and they dont sell much!? Otherwise gold reserves are shrinking, gold exploration is becoming less successful, and one can easily reason supply side will dwindle in the coming decade.
but gold also retains additional value. Government vaults and central banks comprise one important source of demand for the metal....central banks of Hungary and Thailand, who added 63 tonnes in March and 43.5 tonnes in April, and purchasing continues ... and continues ... why?
Demand: Investment demand, especially from large ETFs, is another factor underlying the price of gold. ETF purchases in US went negative in August, after weakeming in June and July. Arguments about strengthening US economy, and US$? Cant really believe the reasoning? but then tis makes me a gold bug LOL
Gold sometimes moves opposite to the U.S. dollar because the metal is dollar-denominated, making it a hedge against inflation. The M2 money supply has gone into the stratosphere, and no end in sight here, velocity through the floor, and more info at link https://www.longtermtrends.net/m2-money-supply-vs-inflation/
I think Gold is always seen as a real asset, and it appears so much in our speech and thoughts...imagine winning the Bitcoin Medal for coming first in the Olympics?
enjoy
best
the Gnome
Spot, that is also what I was trying to say, when all the pundits call gold up seems most are in and it falls and hopefully vice versa, yes they are the same pundits who were all calling for $2000 plus, hopefully they are as wrong this time.
Thanks you all of your comments .. indeed lots of insight into the history and conspiracy theories of the links between key personnel of both companies under various guises .
There are strong regulatory frameworks in place to prevent any conflicts of interest that may or may not exist and I will take it at face value that these are in place and functioning correctly.
The strategic review and associated due diligence exercise, is designed specifically to identify whether the acquisition of Capital would be in the best interests of shareholders ...reviews of this nature are standard practice and the formation of the team should comprise a cross section of independent members and external experts .
Dasut - you have made it clear that you can't see the benefits of acquiring a company which is only a sub contractor and pointing out the upheaval this would bring to the Centamin board during this period of uncertainty, and yes , that would feature strongly within the strategic review
My view is that it would be beneficial for the reasons I have previously stated ..namely that after the upheaval caused by the acquisition , Capital could continue largely as it does at the moment , as an autonomous subsidiary of the Centamin group. Capital is no longer just a driller, it invests in other companies which are aligned to its operating activities. Centamin could use Capital for drilling contracts of course which would effectively be.done at cost , because any profits capital made from the contract would accrue to Centamin, but as I said, awarding or not of said contracts would depend on the circumstances prevailing at the time.
The ownership arrangement would also allow Centamin to focus it's attention on its own gold mining business as it does at present
Bottom line, I don't like $300 million sat idle in the bank account earning zero return...yes I know it has earnarked some of it for exploration ..but consider this , Centamin earned 5 cents a share in the first half of the current year , Capital earned 1.5 cents . .this would accrue to Centamin..furthermore Capital is on a growth trajectory.. particularly in its investments and you all saw the anouncement on Friday about two of them
I think the acquisition of Capital merits serious consideration; that isn't to say that Centamin acquire it without any form of due diligence .of course not, and I am not going to prejudge the results of that
Ok ..I have said as much as I wanted to say about this , and I think it's time to move on.
Regards all and thank you all for your valued contributions .
It may be that some of the normally bullish pundits are thinking that gold might be in decline but are these not the very same pundits that said gold would be above $2000 this year?
I've come to the conclusion that no one really knows what is going to happen to gold as the normal economic rules don't apply at the moment the rule book is out the window for now.
My thoughts are that there's been several attempts to get gold under $1700 and they've failed each time,so it's my belief that most of the weak hands are gone and this is the new bottom until the next black Swan event, whatever and whenever that may be and gold gets the next leg up.
But what do i know its just another guess like the pundits.
there goes the geriatric tibbles again!!! we have all told him before-- we do not want his poison politics on here!! but he still tries to start an argument about his one sided beliefs. you lost old man, get over it and try to keep the conversation about gold. and keep them shorter, you are so boring . zzzzzzzzzzzzzzzzzzz
The $M2 money supply is going through the roof. This must cause inflation around two years after it first started to expand. Thus March 2022 in the USA will be critical. So far the inflation is not extreme so far because of the time lag and the exceptionally low “V” [velocity of money].
Low “V” is caused by low inflation expectations. Bottlenecks in the supply chains are causing inflation. This will naturally push up the “V” figure?. The whole world is absolutely sloshed in broad money because of QE. Gold prices closely correlate with inflation.
Mr Biden is starting a “Barber” boom in the states. So very soon the USA will overheat and inflation will sharply ignite. At least in the $ area. Central bank independence will slightly mitigate the inflationary disaster more than was the case in the 1970s?.Central banks simply can not afford to rise interest rates because of high levels of national debt everywhere?, [not just in the states]?. Crypto currencies have slightly stolen gold’s role as an inflation hedge. However they are very unstable and are perhaps facing taxes and other obstructions from legislators because many governments are not keen on them?. They do not want privatised control of the money supply?.Cryptos are potentially vulnerable to hackers?, might even be wiped out completely by hostile cyber actions?. They are very unstable anyway?.Thus gold will shine in an inflationary world after the cryptos crash?. CEY has production cost and output issues?, however higher gold prices would still make the company very profitable?. CEY is cash rich and the dividend is thus safe and secure. CEY is still a good bet and might even be a BUY at the moment?. Pundit Russel Napier is extremely bullish about gold prices!. Constructive remarks please!, I missed anything important?.
Sotolo,
The UK government dare not raise interest rate because the economy is in recession, there are shortages in the supermarkets, energy prices are at all times and the UK economy is buggered due to Brexit!
Gnome, have you noticed that even the optimistic pundits are turning south - Gary Wagner’s, usually on the mark, gold report depressingly says this weekend “ Based upon our analysis we see a high probability that we have entered a multiyear price decline in gold. This is based upon the study from 2009 to the former record top that occurred in the middle of 2011, the multiyear decline which took gold from $2019 down to $1040 at the end of 2015.”. Todd ‘bubba’, Sunshine etc similar. The only hope is that with such extreme negativity, the most I have seen in years, is everyone already out and are we due an uptick or will gold tumble as they all predict and will Cey be losing money next year? Please don’t shoot me, I am only reporting what most pundits (apart from the ever optimistic AM & a few) are saying, that both charts and fundamentals are broke and this is very reminiscent of the fall after the last quantative easing reductions? All Inhold on to is that inflation is real, so real interest rates will fall, but at the moment commodity prices that soared are tumbling back so maybe the Fed and market are right, it is only temporary, so the coming rises in interest rates won’t just be nominal but real? Thoughts oh wise ones….