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Thanks Mr Bond your honest thoughts on the situation are as always greatly appreciated by me and I am sure by many others on here.
Keep well
Tibbs
Yes Mr Tibbles it is right to celebrate,IF, gold rises.
The voters got they asked for, and will suffer the consequences.
CENTAMIN will benefit, especially if the stock market plummets ,as it could do,given a little more time.
All the virus did was to light a long fuse. The dollar printing is the TNT.
IMVHO.
Mr Gnome,
its really sad,also worrying that despite having 24/7 news and the opportunity via their smart technology to search or question the facts they remain blissfully ignorant of the truth and instead fall for the spoon fed the strategically written and politically biased propaganda fed to them by the government.
Most of the plebs can't seem to understand that when on facebook or using google so much the information they receive has been algo tailored via their past searches to give them the answers they have ready decided on ,rather than the actual true facts!
Consider the unelected creature that is steering governmental policy in the UK, https://www.dailymail.co.uk/news/article-8124045/BBC-air-Taking-Control-Dominic-Cummings-Story-kind-look-chief-adviser.html
Dominic Cummings, now the prime minister’s most senior adviser, for the “end of the BBC in its current form”, branding the broadcaster the Tories’ “mortal enemy”.
https://www.bbc.co.uk/news/entertainment-arts-46540442
Speaking to The Spectator earlier this month, the Sherlock star described Cummings - a former advisor to Michael Gove - as "a hell of a role" and that he had felt "a responsibility to get him right".
Over the course of the drama, Cummings is seen out-thinking and outwitting the Remain campaign with sophisticated data-mining techniques and a central slogan - "Take Back Control" - that cuts through to voters.
Graham says the message, while "relatively simplistic... captured the national mood" in a way that Remain's - "Britain Stronger in Europe" - did not.
"It was an easy and digestible message that captured a broad coalition of anger, doubt and frustration," he goes on.
"Even the Remain side would admit they couldn't come up with an equivalent."
The mainstream media did a hatchet job on the Labour leader and the other opposition candidates and the people thought they were electing a funny game show host "Boris"i, but nstead the people have unwittingly elected "Cummings" who aims to play a key role in reshaping the nation, our economy and government.
https://www.bbc.co.uk/mediacentre/proginfo/2020/11/dominic-cummings
Its very depressing really that the UK is now in a very bad place, the government obviously intends to drop out of Europe without a deal and Boris will try too blame the EU for the financial and social consequences, no doubt so many of the public will fall for it, post Covid the UK can forget trade deals with the rest of the world, Trump has ruled out China, so the UK becomes dependant on the US an its chlorinated Chicken!
Of course when the UK economy collapses, austerity measures are imposed and the money printing gains momentum it should be good for the POG, but in those circumstances is it right to rejoice?
Thanks for this, but the fundamentals are astounding. Print money like mad, no accountability here, plug the massive holes that cannot be plugged...move the lot down the road..and in the never ending anxiety driven 60secs/60mins/24hr/7days... news cyce, the lemmings will be ...none the wiser.
the Gold Gnome
Very very simply if profit is price gold is sold at less cost to dig it up, explore for more and admin etc then each 1% rise or fall when gold is $100 above aisc is around 10% on profit, when gold is $300 above aisc it is about 3.5%, now gold is $750 above our aisc the multiplier is down to a bit over 2%. It is why high cost mines can rise most in a bull market as can go from loss to profit, let’s see what happens to hoc when silver rises enough for Arcata mine to be started up again. Conversely look at Orosur which had an aisc of $1350, when the gold price stayed resolutely below that it had to close the mine. The gearing is great in miners on the rise, painful on the fall as last week.
@sotolo
How on earth did u come up with those profit figures? Look at the profit forecast for this year and figures related to assumed price of gold and current price of gold.
CEY at current POG levels is smashing it’s turbover/ profits forecast
Hi goldgnome, there is a lot of sh.t still to happen as you suggest, any monies held in banks etc. will just depreciate. Best to keep invested in companies that are essential.
Inflation will be interesting? If the interest rates go up, in a world where productivity has gone through the floor, then debts will be unserviceable.
So many people unemployed and underemployed, hard to get your head around it. A government stimulating the economy in these times...print money like mad!
The paper money is going to devalue massively..no choice
best
the gnome
Quite so Tiger, if only we could go back!
https://www.youtube.com/watch?v=SWBRcWDsHkk
https://www.youtube.com/watch?v=MfF58NuCTZM
According to Peter Schiff there will be a small period of deflation followed by hyper inflation.
I was always envious of the 1970's 'we bought our house for 3 grand' people. Hope i now become one, when my mortgage disappears due to inflation. And ill still have my gold stocks.
Hi Sotolo!
Thanks. I've been pondering this question of what comes next - inflation (actually, stagflation) or deflation.
I think there may be a short period of deflation, at least in certain sectors where inventories are high and demand has collapsed.
But then inflation will begin. It will be all very 1970s again - back to the heyday of Status Quo!
Interesting analyses Sotolo / Tiger. I had to sell another stock to buy more CEY today. I also bought very heavy into POLY yesterday. I think it is oversold a little at the moment, and a bit of knee jerk. The first day POLY dropped, it was up enough the next day to have a good profit, although I didnt sell, but just saying as there might be a bounce here on Monday. Id take it if that was the case, especially as no stamp duty on these.
HI Mr. Tibbles!
I'm a bit dyslexic, so I occasionally get the wrong end of the stick when I first read things.
E.g. Currently I'm enjoying the image of Rick Parfitt and the rest of the band standing on the steps of Downing Street as they take office. All power to the Status Quo!
Hey, Rick's blonde and shaggy-haired and only knows one chord on his guitar. I mean, would we even notice the difference? It might be an improvement!
You did the right thing, I wish I was not fully invested or would have done so too.
Gold in sterling(that counts for us) is down 9% from the top
That reduces Cey profits by about 23%, so shares should be down around 23% from 190 which is 146. It is just about there so still PE of 12 and around fair value with no other news
However reading Crispin Odey’s monthly report today he concludes that the only thing being made in the last couple of months is money, so more of it will be trying to buy fewer things, so inflation is coming very soon
Good for gold and good for your new purchase Tiger
Quite so Tiger, this is what's wrong with the world , corruption and manipulation by those at the top who want to keep the Status Quo to stay in power!
So, gold down 2% or so on some pretty incredible US employment figures - a RISE in the number of people employed when all expected a big fall.
Alas, it seems incredible may be the operative word. After Trump trumpeted the results in a press conference, the government agency responsible for the numbers (the BLS) has already admitted to a huge error (of 3%) in the numbers, and there may be more "revisions" to come.
Is the USA turning into the USSR, where even official government numbers are shamelessly faked? How long till the facade of this Potemkin village collapses, revealing a wasteland behind its painted fronts?
I'm not quite sure I did the right thing, but I added quite a lot at the close. Time will tell...