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Interesting programme on the BBC world Service last night where they discussed the way that Algo's which now drive the markets often get things wrong because although they can supposedly read the headlines they often misinterpret the information and then other Algo's which are less intelligent just latch onto the trend , this often results in knee jerk and overdone corrections. Of course the tweets from that idiot Trump don't help! https://www.bbc.co.uk/news/av/business-11876811/bbc-world-news-business-headlines Goldman Sachs fined for short selling again!
Hi Rebess, Good post and I agree completely.- In the past i have visited a few casino's and used to try to beat the house at Blackjack by counting cards -( ended up even ) - so fascinated with equations and systems. -- Have the mms and cartel got a system wether corrupt or not !?, -- wounder what Tibbs thinks!.
Hi carlywarly - There is so much now outside of supply and demand metrics that controls/influences the market as we know it. - Conventional economic-wisdom is side-lined in todays manic market-place. Stuff is happening that isn't even taught in the 'Science' of economics. - Algo-bots are responsible for much of market-momentum.. Even the 'Law', put in place as a protective measure, stands aside, turns a blind-eye, whatever, as part of the phenomenon/equation that has become 'Economics' controlled by a handful of elites. - Forget conventional-wisdom in trying to make your calculations, it's no longer an entity IMO. - Where does that leave us? - Frankly, I don't have an answer. All I know is that we can't do any thing about it.
December has not been good for gold in the last three years, and with triple witching day approaching the re-balancing of ETF's could the mm's take us down to a new year low! ?, Nothing would surprise me with this share.
WASHINGTON (Reuters) - U.S. President Donald Trump on Tuesday reiterated his criticism of Federal Reserve Chairman Jerome Powell, saying rising interest rates and other Fed policies were damaging the U.S. economy, the Washington Post said.
“So far, I'm not even a little bit happy with my selection of Jay,” the Post quoted Trump as saying in an interview, referring to the man he picked last year to lead the Fed.
If helpful this is from the 1sr nov quarter 3 results saying the production situation in Sukarno is resolving and going forward looks good: a month earlier, in Sept preliminary results, the company was still worried “operational improvements have taken longer than planned to materialise;” but the Nov results said “September was a significant improvement on July and August, producing 48,511 ounces, driven by good underground grades and reduction in stope dilution; Underground operational improvements have taken longer than planned to materialise and are expected to continue to flow through in Q4;”. The problems seem to be passing, confirmed by others posts on ounces shipped, now we are at the vagaries of the gold price, as shown today
Egyptian billionaire Naguib Sawiris has outlined plans to build a new African-focused gold company and said he is keen to buy any gold mines on the continent put up for sale by Canada’s Barrick Gold following its merger with Randgold Resources.
Speaking at the Mines and Money conference in London, Mr Sawiris said he wanted to use Ghana-based gold miner Golden Star, in which he bought a 30 per cent stake in August, as a vehicle to acquire underground gold mines, mainly in east Africa.
Mr Sawiris said he was looking for deposits that could produce between 150,000 to 250,000 ounces of gold a year for a minimum of ten years mine.
He also told reporters he had met Barrick Gold’s executive chairman John Thornton recently in a lift in New York, and had expressed his interest in buying some of the company’s African mines.
“It makes sense for us,” he said, about acquiring any unwanted assets from Barrick,” said Mr Sawiris. “We can extend the mine life.”
...China imported 400 tonnes of gold directly from Switzerland between January and October – 60% up on last year. Thus the Hong Kong data paint a distorted and overly negative picture of Chinese gold demand, in our opinion...
An amazing effort by our team in #Centamin Chairman’s Challenge marathon (Egypt), they came 2nd in a time of just 18.15 hours (avg 13.2km/hr!). The 240km course begins in Edfu and finishes in Marsa Alam. Every team member ran a minimum of 25km, congratulations to all participants
Can you believe it , this is the 15th conference of this group and what exactly has Egypt achieved!
One mine which they then allowed a criminal to throw under a legal bus and couldn't be bothered to even call for an ambulance despite this one mine contributing more than 3% to Egypts gdp.
Al-Sisi opened the 15th Arab International Conference on Mineral Resources and its accompanying exhibition, which will be held in Cairo for three days under his patronage. The meeting will be chaired by Minister of Petroleum and Mineral Resources Tariq Al-Mulla under the slogan "Mining Investment and Economic Development in the Arab World" .
Minister of Petroleum and Mineral Resources Tariq Al-Mulla stressed that the presence of the Sisi president and his sponsorship of this important regional event for the mining industry on the land of Egypt reflects the support of the State and its interest in the mineral wealth sector. And a clear vision in recognition of the importance of this sector.
Minister of Petroleum and Mineral Resources Tariq Al-Mulla stressed that the presence of the Sisi president and his sponsorship of this important regional event for the mining industry on the land of Egypt reflects the support of the State and its interest in the mineral wealth sector. And a clear vision in recognition of the importance of this sector