Blencowe Resources: Aspiring to become one of the largest graphite producers in the world. Watch the video here.
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Hi Sotolo,
Will you be putting your questions forward at the Retail Investors Forum tomorrow?
Sorry posted wrong link !
This is the right link
https://uk.finance.yahoo.com/news/ftse-100-live-sterling-focus-064625195.html
FTSE 100 Live: Sterling in focus as stagflation fears stalk UK market
Graeme Evans
Wed, 29 September 2021, 10:08 am
he stagflation fears behind sterling's worst session of the year and the prospect of higher interest rates in the US are likely to lead to another nervy session in London today.
Worries over whether the impact of the fuel crisis is contributing to an outlook of low growth and rising prices left the pound at its lowest point against the US dollar since January.
Corporate highlights of today's session include Next's latest upgrade to profit guidance after it sales performance in the past eight weeks materially exceeded its expectations.
FTSE 100 Live Wednesday
Stagflation risks pressure sterling
Next raises profits outlook
Morrisons auction date set
Sterling stuck at January low
10:08 , Graeme Evans
The stagflation worries blamed by some investors for sterling's worst performance of the year continued today as another surge in natural gas prices added to the jitters.
Fears over the toxic combination of inflation and a stagnating growth outlook have been fuelled by rising oil and gas prices and the possibility the Bank of England may be forced into an earlier than expected rise in interest rates.
Sterling remained at its lowest level since January today, having dropped from around $1.37 on Tuesday morning to $1.35, a level not seen since January 11.
End-of-quarter rebalancing is likely to be part of the reason for the weakness, but the situation comes with natural gas futures up another 5.5% at 218p a therm today and Brent crude close to the $80 a barrel threshold.
A sharp rise in US borrowing costs on expectations for tighter monetary policy also put upward pressure on the US dollar. Wall Street's S&P 500 was down 2% last night on big losses for stocks in high-growth sectors such as semiconductors, media and software.
There was a similar story in Europe, but the FTSE 100 index largely bucked the trend thanks to support from its dollar-earning stocks. The blue-chip index fell 0.5% last night but was up 63.63 points to 7,091.73 after Next's bullish interim results helped sentiment.
US-focused building supplies firm Ferguson posted the biggest rise, up 295p to 10,530p, while there was buying in mining after Anglo American and Glencore added more than 2%.
Royal Mail was the biggest faller after analysts at UBS scrapped their “buy” recommendation and downgraded their price target from 590p to 440p.
Their caution reflects the impact of increasing cost pressures at a time when the pricing power in the industry is likely to decline as more parcel sortation capacity is added in 2022.
Shares were above 600p in June but fell 5% or 26.4p to 452.8p after the downgrade.
https://www.lse.co.uk/ShareChat.asp?ShareTicker=CEY&share=Centamin-PLC&thread=94501523-2730-4AC5-8B10-41F10BC2610D&reply=true
Hi Sotolo,
Are we not in a Bull market for PMs ? Your view does depend on what time frame you're looking at. I would concur that over the last 12 months the Gold market has been bearish. But over the last 5 years for example we had lows of approx $1041 and highs of $1391 ( pre June 2019 ) post September 2019 we had lows of $1444 and post May 20 we only saw lows of $1665.
Sotolo tell me something I don't know.
Like where you buy your Crystal Balls.
Good night Sweet dreams.
Mr Bond, there were quite a few predictions that gold would fall, including from some members of this board and there still are. Many pundits, like Andrew Maguire talk gold up, but the truth is it is in a bear market and a tumbling stock market and recession may not immediately help. My view is that although it has lower to go if inflation takes hold, falling real rates will lift gold, but maybe the recession will turn out to be big enough to hit gold, who knows but for now if the trend is your friend it is on down as for the last year sadly. However hopefully cey will up ounces and lower costs lifting it from current low profits despite the gold fall. Just imho
Hi Mr Bond,
Exactly that, its the opinion amongst wholesale traders that there is a type of unofficial amnesty until early next year for the Comex clearing bank's to cover their unallocated open paper positions for fear of the consequences to the sector and the markets of just pulling the rug out from under their feet!
There is still the div yield to.encourage buying at these prices. Some of the best in ftse
Yes Razors strange times.
When you look back at all the predictions for Gold prices in 2021 , none wewe right.
I think Basel 3 and the dumping of paper to cover the institutions until end of year is playing a major part of it all.
We shall soon see.
But what do I know?
Apart from better times ahead for Centamin.
I bought a lot of Centamin last December thinking they were cheap at circa £1.12
I’ve lately gotten access to available funds but because I’ve been watching Cey stagnate for nearlya year, I don’t feel any motivation to buy today. Gold isn’t going to turn because I’ve bought some cheap miners shares.
I remember watching for months at $1300 and couldn’t believe it continued to rise to $2k.
I sort of feel Centamin will spirt on the 30th but will loose it’s legs in a day or two with gold out of form.
Strange sitting with funds and the share price cheap and I seriously don’t feel like jumping in.