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Dow ends more than 430 points higher as stocks take back a chunk of Wednesday's rout.
It has to happen!
Gold looking better, hopeful for up day tomorrow
Read Jim Wicoffe on Kitco news .
Gold Bulls step in to buy in the dip.
Razor your time is spot on.
At this moment Dollar flat but predominate buyers.
Plus $5 since 4:30pm
It would be great to see the week end with a positive gain.
I think there’s every chance.
https://www.msn.com/en-gb/news/uknews/cameron-admits-big-economic-interest-in-greensill-but-refuses-to-reveal-details-of-pay/ar-BB1gHbBx?ocid=msedgdhp
David Cameron was today told his reputation was “in tatters” after a parliamentary committee heard that his campaign of messages and calls to ministers and officials was “more like stalking than lobbying”.
You may recall, but when Centamin was going through some very rough patches years back we discussed everything and anything, as well as Centamin, that's partly why the board develpoed s it did had such a varied and well informed group of members
I don't recall telling the others what to think, I just provoke debate and it seems this annoys some who feel that life is about things being slotted into boxes with barriers around them.
If the present government had been voted in under an electoral system based proportional representation then one could accept they had been democratically elected, but unfortunately isn't the case.
I appreciate that some are under the impression that the UK territorial system is truly democratic, sadly that is far from the truth .
Now the the present government intends to try and force through legislation first past h e post for Mayoral elections because they are aware that this will give them an advantage over othe'sr that stand, it will!
Absolutely agree Mr Bond , I came to the some conclusion some time ago, it's all about the spin on social media by the celebrities that get the social & media coverage at any one time.
The stock Market operates just like "Bet Fred!"
For a few years they jumped at the twitters of Trump.
Now he's gone they listen to Musk.
CEO of a company that continues to haemorrhage money ,but still has an overpriced valuation, where is the rationale ?
There is little of that, why ?
They are only interested in short term, and a big fat profit. Whether the market rises or falls.
They are certainly not investors.
They would not agree, of that I am certain.
Just a market down day. Good recovery on gold price in the afternoon.
Mr Tibbles, I really think you should cut back on the stuff you are posting. I accept we all have views and like to post them, which is your right. However.....this is a gold mining board. Post stuff that relates to gold but please can you cut back on the anti UK Pro EU stuff. WE voted to leave in 2016 for goodness sake. Accept it, that's what a democracy is. I don't like the current government but I have to accept it as it was voted in. By the way slightly off topic...Bitcoin is far from finished. You call me foolish for investing but I have increased the value of my holding 10 fold! CEY whilst I have faith in the company comes nowhere near this. Please show some respect for the views of others. Thank you Mr T.
Hi Lynn,
Thank you for asking that Tibbles character to pipe down with the politics. I had to filter him in the end. This is a CEY board not a forum for political blow-hards like him to bore everyone with his narrow views.
Mr Dribbles woo! Sorry of course you know it all being a union man and talking to the man on the train. The rest of us poor mortals know nothing.Why don't you Just keep repeating the same old gibberish and crying you want the E U see how that works for you. Good luck Lynn
Nigel Farage tweeted today "US inflation figures today tell a story. Governments will inflate their way out of Covid debts, you have been warned!"
It looks like gold and silver prices are going to start moving sharply higher very soon?
Yes,agree.But as we know "the news follows the stock market,the stock market doesn't follow the news".If gold had soared today they would have cited todays news as a reason for it.How will they explain the fall today ?.They will probably put it down to "profit taking after the recent rise".
When you find out what is common to the rises and the falls,then you have cracked it.
So the present government listens to you does it, I think not.
The present government is only in power because the present first past the post electoral system and the way the ward boundaries are arranged is advantageous to the Tory party and denies the smaller parties of taking any seats, hardly democratic
I'm still waiting to learn of the great advantages the people of the UK have gained since leaving the EU.
What happened to the £325 million a day we were going to save, Oh sorry I forgot Boris & Farage lied, although now Farage denies ever making the claim.
So Lynny what have you got to tell us about gold then?
Have you ever takenthe trouble to write to Centamin about anything , probably not..
What have you ever contributed to this forum by way of debate or discussion, nothing apart from the same old boring or spiteful prattle that is on most of the other forums.
Perhaps you should take the trouble to read what some of the other forum members post, it's not solely or directly about gold or Centamin, but never the less very interesting and possibly related in other ways.
Why not join in, you might enjoy it, or possibly even learn something,
Only the big nuggets left!
No surprise really, most of those that have sighed aren't in the same class as those that are still negotiating final terms.
Of all the licenses awarded the key ones are those who have the resources and capabilities to actually build new mines, and Centamin, Barrick and B2Gold are precisely those!
Planets aligned
It does not operate the way you may think in the gold market but what is really reliable is when long contracts have vastly out numbered short positions in the paper market. On top of that physical is not being bought so much in May for a host of reasons such as the India market awaits monsoon as well as getting on the pandemic down curve, USA market is redesigning their coins and they come out as new editions in the summer. It may take a month for the market to behave more like you would expect in the current circumstances, its that demand in paper contracts (already fulfilled) and physical market that is not aligned. Tony
Mr Tibbles You say Labour will oppose changes well that will reasure people. Labour tee hee Labour wouldn't know Labour if it walked up and smacked them in the face your problem is you can't see there is no credible opposition you can't see it can you. Open your eyes stop lecturing what's the point lecturing on here. Go out there you are so biased you can't see singing the praises last week of Charles Dr Gaulle someone who sat in London while his country tried to fight. This week singing the praises of Claude Junker what's it all about going on and on with yourself. As for Labour when people vote do you just disregard anything you don't like you actually should be standing for Labour you are the perfect Labour politician. Just ignore the voters and the tax paying British public. Just carry on trying to get the remain vote through that should work especially if you only lecture on a site that's dedicated to a gold mine. Have you nothing better to do. You haven't lectured very much today must try harder. Good luck Lynn
The corollary of this is that “value” stocks, which are either less reliant on low interest rates or positively benefit from rising ones (such as banks), are more resilient. Hence the “great rotation” continuing. For example, the FTSE 100 managed to end the day yesterday a little higher, despite the tendency of US stocks to set the tone for a day’s trading.
So what’s next? Well, three things can happen...
Read the whole of this article on the MoneyWeek website
Until tomorrow,
John Stepek
Executive editor, MoneyWeek
The last time US inflation was this high, you were a lot younger
Last month, the US “core” consumer price index rose at an annual rate of 3%. That was a lot higher than expected. Meanwhile, headline prices (which include volatile things not in the “core” reading, like fuel and food) rose by 4.2%.
All in, it was a big increase. And yes, you can pick at the argument. You can point out (rightly) that there are serious “base” effects here (in other words, prices collapse in April 2020 during the pandemic, so you’d expect them to bounce).
You can also point out (rightly), that almost all of the surge in prices was driven by “reopening” plays. As Michael Pearce of Capital Economics notes, the price of plane tickets jumped, the price of hotel rooms soared, and the price of car rental jumped by more than 16%.
That sort of price rise is a genuine one-off and it’s exactly what you’d expect. When you can’t fly anywhere, a plane ticket is worthless. When you’re suddenly allowed to go on holiday after being stuck in one place for over a year, a plane ticket is, if not quite priceless, as close as it’s going to get.
So it’s easy to see why this surge in demand meeting sectors that have been shut down for 12 months or so has pushed prices up so aggressively.
Still. All the analysts and experts already knew this stuff when they were making their forecasts. So either these one-off surges were just a lot more powerful than their models had suggested – or we’re on the verge of something a little more durable than just one-off rebounds.
There are certainly signs – as I pointed out earlier in the week – that US employees are demanding and getting higher wages, even while many people remain out of work. More importantly, they have the popular and political support to do so.
And it’s not just about inflationary forces. A deeper point, made by Louis Gave of research group Gavekal, is that many of the most powerful disinflationary forces – primarily, though not exclusively, the globalisation of trade and the massive expansion of the global workforce – of the 30 to 40 years or so, are behind us now.
In other words, there are plenty of inflationary forces and no obvious disinflationary ones to offset them.
Why tech stocks in particular don’t like rising inflation
We can argue about this all day and I suspect we’ll be doing so for some time. But what’s clear is that stockmarkets took the news badly. That’s because they’re worried that higher inflation will force the Federal Reserve, America’s central bank, to raise interest rates earlier than expected. And the worst-hit were the tech stocks, with the Nasdaq index falling hardest on the day.
This makes sense. The problem for tech stocks is that rising inflation is a losing environment for them either way. Even if the Fed doesn’t raise rates to combat inflation, the longer-term value of money still falls (because inflation reduces the value of tomorrow’s money).
Inflation in the US smashes expectations (equals widening negative real rates)
Israel fighting Hamas potentially leading to a ground war
Tesla no longer accepting Bitcoin for its vehicles
All bode well for gold, and yet we are down. Go figure
Hi Hedgehogg,
Anyone that is in Bitcoin must be very brave or foolish, anyone that is in gold is very wise and fortunate as things are panning out!
Coming back to Centamin its about 109p holding on a rising support line. Do not be surprised if we hit it tomorrow or early next week. Gold was overbought and its a shakeout until its oversold or just not overbought. This could take days or weeks.
On the verge of some big market moves. Bitcoin finally tanking on the way to its real value. Inflation looming, though people are trying to say interest rates will go up. Show me a government can afford to raise interest rates. Gold always been good for inflation, it’s the reason we are all here, because we don’t trust their devious ways. Big market swings like 2020. Let’s hope gold performs again like last year.
Well done Cowichan!
Thank you for all your hard work and taking the trouble to write on behalf of all share holders.