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Added as well.
Am I correct in thinking that WorldQuant started shorting this when the SP was approximately 100p?
If so they might consider trying to close out soon.
Or is that just wishful thinking?
Worldquant llc increased their short position from 0.49% to 0.55%. This was disclosed on 24th June and is lower than the 0.81% they had in April 2021. No other shorts reported.
I'm a little disappointed tbh at the PoG with global inflation figures pointing up. Basel 3 didn't much either albeit it is early days and so far only applies to Euro banks. Still, CEY has a world class asset in sukari, no debt and growth potential in WA.
Nice try would be, shorter.
82p was good target by the looks.
Probably Quant .
I think the same is true for most gold stocks - my Canadian miners have had a terrible beating in the last couple of days. I don't know if this is a bloodbath phase to shake me out of the miners (no chance) before a rise, or people are selling their miners and putting it into tech stocks, since tech seems to be on the move up again.
Anyway, I need to add some more Centamin at some stage - looking at Fresnillo too.
MarquessR, quite right that Cey is quite good value now, however looks like gold is about to take another tumble which means it could plumb sub 80p again, of course hope not but I wouldn’t be buying just now as we are in a long downtrend that hasn’t reversed imho
In at £1.029. Thank you.
I believe Centamin has moved ahead of any downside to the gold price. Last time it was 104p Gold was around $1730 an ounce.
You could do a refrain for the next few weeks. It would go something like this
The higher equities market is driven by debt
The higher housing market is driven by debt
The marvellous economic recovery is driven by debt, and debt of such magnitude that it will take to 2060 to recover in Oz (mid you lots of assumptions here!?)!?
Debt is fine as long as you own it (not to a foreign supplier), and that the arbitrage driven by unscrupulous middlemen does not become rampant. But who can keep them out. No one has done it so far.
Some like those that live in the fine City of London, are protected by an unscrupulous government.
Watch gold, and watch the companies who are strongly leveraged to gold and are not immersed in debt (that word again), royalties and other encumemberances.
Tier ONE gold assets are not found every day, and not even every 10 years..or much more. But they are sought after, as they are... TIER ONE.
I do expect Centmin to be entertaining visitors for sometime.
If you cant find 'em, you gotta buy em, to GROW. And if you dont grow, then the SP goes down, you become undevalued, and someone helps themselves to your assets....
best
the Gnome
I certainly did mean support Tornadotony, that will teach me to post before I’ve finished my coffee!
You mean it has hit plenty of support at the £1 level.
I am looking to increase my holdings today.
Looks like the SP has met plenty of resistance recently when hitting the £1 level. Looks to be plenty of upside from this position, even if the entry is a couple of pence out.
Shares on major European stock markets were slightly higher during premarket trading on Tuesday as investors awaited more economic data and monitored the coronavirus pandemic.
The consumer confidence indicator for the European Union was set for a release later in the day along with the EU's business climate index. Finally, Germany's consumer price index was also scheduled for a release amid growing talk about when to wind down the European Central Bank's loose monetary policy.
The DAX was up 0.07% at 8:00 am CET, while the CAC 40 was flat. Meanwhile, the FTSE 100 rose 0.10%.
Breaking the News / JC
*no currency prices
Yes 5 children, married a fine Irish Roman Catholic Las!
Well, the FBI need to find the grave marked 'Unknown' in Sand Hill Cemetery near Santa Fe, before this fella gets there.
This is one of my brother's favourite films. There is some beautiful music in this film, and this is the best piece, I think. No, Cowichan, it's not off topic - it's the Ecstasy of Gold.
https://www.youtube.com/watch?v=ubVc2MQwMkg
FBI hunt for Civil War gold detailed in unsealed affidavit
The gold ingots were painted black and hidden under false bottoms, so that the wagons appeared to be carrying ordinary freight...
Knights of the Golden Circle which operated in both Union and Confederate states during the Civil War, “buried secret caches of weapons, coins, and gold and silver bullion, much of which was stolen from robberies of banks, trains...
the FBI hired a contractor to survey the site with a microgravity meter, which detected a “large underground mass” with a density matching that of gold and having a weight of up to nine tons...
the story continues...
https://www.mining.com/web/fbi-hunt-for-civil-war-gold-detailed-in-unsealed-affidavit
https://en.wikipedia.org/wiki/Knights_of_the_Golden_Circle
--------------------------->>>
Not much news to report today - but there is always interesting history!
Sorry typo, should read-
"Rioting in the streets!"
Some of the long term members will remember that the share price was at this level when there was righting in the Cairo streets , the POG was lower, Sukari stage 4 was a dream, Capex was still to be repaid and profit share, not to mention a divi were just going to happen sometime in the future!
So no market manipulation today, My ar*e!
Still Basel 3 active today, that seems to have got the buggers on the run,Not!
Hi Goldgnome
If I'd had 5 children, it wouldn't matter if the medicine was shaken or stirred - just as long as it came by the bottleful.
Well done to you and your wife for keeping your sanity.
Sorry for not providing the link to the INTERGENERATIONAL report, for those Monty Python fans who are doing it tough in these times, and need additional entertainment of a certain kind.
I love that a lot is indexed in the CPI, or Consumer Price Index. A quick check on this by govt defintion
"The CPI is often used to measure changes in the cost of living, but it is not an ideal indicator of this. While the CPI measures price changes, costof- living inflation is the change in spending by households required to maintain a given standard of living." Well OK, nothing is an ideal measure so how did we go.
Alcohol and Tobacco prices weigh in at 8%, Health 6% and Education 4%. I lll let you do your won analysis and come to your own conclusions, but mine are without doubt heretical.
https://www.rba.gov.au/education/resources/explainers/inflation-and-its-measurement.html
Good luck to the next generation ... booze and tobacco may make you get through the night
I am off t take my medicine (scotch, shaken not stirred?)
best
the gnome
Quite likely in my opinion. Expecting gold and centamin edge up a little as we head into July. Gold sometimes catches a bid as we enter a new month.
Thanks Red,
There is a poem of sorts from yon years which used to do the rounds of our house, ... which could well have been inspired in part from the Central Bankers new outcome focus. But can one really seperate the outcome from the process ... ?
Lord make Me an instrument of Your peace
Where there is hatred let me sow love.
Where there is injury, let me sow pardon.
Where there is doubt, let me sow faith.
....
Where there is sadness, joy.
O Divine master grant that I may
Not so much seek to be consoled as to console
To be understood, as to understand.
To be loved. as to love
For it's in giving that we receive
And it's in pardoning that we are pardoned
And it's in dying that we are born...
To eternal life.
Aaamen...
and its in ....
best
the gnome
Mildly amused at the new world metrics.
The bull equity markets are driven by low interest debt
The housing markets driven by low interest debt and what a bubble emerging
and ...
The marvellous economic recovery (at least in Australia) can now be measured in debt extending out to 2060. Talk about kick the can down the road? This is one hell of a kick! 2 + generations, come catch the ball (with gloves on please!)
My 5 children are not impressed. "You Boomers are leaving one hell of a legacy!"
enjoy your retirement, as there are quite a few who wont be able to ... for decades
best
the gnome