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Yes we need gold to start motoring.... Even without explicit YCC, all it take is for inflation to be reflected in official figures and gold will start climbing.... we are almost there. This summer will almost certainly see it. When lockdown ends in northern hemisphere, people will be flying and driving and out shopping.....
Tomorrow we will see some numbers should hopefully bring some clarity to the opportunity that all who are long and posting on this board see to be self evident. Until then and beyond if necessary I am happy to tuck these shares away in a buy and forget about it account (with no leverage) until such time as the market understands how much inflation is coming and looks to protect itself from this via a precious metals miner whose profits should be expanding at a healthy clip. YCC or the paper silver market pricing above $30 would also help. At the moment I see money chasing hot stocks such as airlines and travel companies who , in my opinion, have another year of tough trading ahead of them and significant debts to pay back before the profits can take off and dividend payments can resume. At least Fres should be in a position to increase its admittedly paltry dividend and paint a sunny picture for future payments tomorrow. If and when the silver markets crack to the upside it will happen so quickly that I don't think I have the ability to jump in with both feet at the right time. I will instead buy on the drip with funds I can afford to lose in the expectation that at some point in the next year or two I will be able to sell these shares for something close to an all time high and quite possibly a new all time high. From here that would be a 100% gain and more.
Tomorrow we will see some numbers should hopefully bring some clarity to the opportunity that all who are long and posting on this board see to be self evident. Until then and beyond if necessary I am happy to tuck these shares away in a buy and forget about it account (with no leverage) until such time as the market understands how much inflation is coming and looks to protect itself from this via a precious metals miner whose profits should be expanding at a healthy clip. YCC or the paper silver market pricing above $30 would also help. At the moment I see money chasing hot stocks such as airlines and travel companies who , in my opinion, have another year of tough trading ahead of them and significant debts to pay back before the profits can take off and dividend payments can resume. At least Fres should be in a position to increase its admittedly paltry dividend and paint a sunny picture for future payments tomorrow. If and when the silver markets crack to the upside it will happen so quickly that I don't think I have the ability to jump in with both feet at the right time. I will instead buy on the drip with funds I can afford to lose in the expectation that at some point in the next year or two I will be able to sell these shares for something close to an all time high and quite possibly a new all time high. From here that would be a 100% gain and more.
Pbear, you are spot on. Since 2011 there has been deflation and bond yields were high. Over 3%. That's why gold did badly. Now market is having a wobble when it climbs over 1.5% LMAO. What has changed though, mostly set off by Trump, is there is now trade wars and more nationalism so deflation imported from China is now reversing. Inflation has already set in despite what the figures tell you:
1. My mobile phones are not getting cheaper
2. Fuel prices are up
3. Tesco has stopped doing discounts. My shopping basket has increased 25-30% from 3 years ago.
4. Rent has stalled temporarily due to pandemic but my money is on it going back up big time once government removes the anti eviction rule and people start going back to work.
5. Energy prices are going up.
6. Car prices are going up
7. Copper and steel have more than double since 2 years ago. Building costs have gone up.
8. Builders are busier than ever and charging high rates. Anyone tried building any thing in their gardens? You will know this.
9. Freight rates have gone up 6 times.
How we will escape without inflation hitting at least 2%? Only thing that will save us a bit is Sterling has gone up. Inflation will exceed interest rate soon and that is when gold will fly and it will keep flying. I remember BOE had to raise rates to 5.5% when inflation hit 4% in 2007.
Not to be a pedant but gold has been a very poor inflation hedge since 2011, it's actually a hedge against negative real yields hence gold's strong performance last year. If 10 year yields remain elevated then gold is going to continue to be subdued. However, I suspect the Fed will implement yield curve control to push yields down closer to what we saw last year which will pave the way for another gold run. On FRES, I'm estimating an 8-12% bounce from results day, other thoughts?
Cheers carv, to think gold has fallen this much actually beggars belief. Bitcoin is not stable at all ..., makes you wonder where everyone will park their money when the tough gets going.
I have saved some cash to buy another 2k shares but at below £8 in a worst case so my average would be around the mid 8s.
Results on Tuesday hopefully be good news with no bad news of lower grades or depleting resources lol.good luck for next week.
Yields issue explained
https://m.youtube.com/watch?v=zH8Tg9nCzhc
Not wanting to egg you on but I think good buy. Feds will have to act sooner or later. Gold at this price will find many buyers because bond yields are rising because of inflation fears. Gold is an inflation hedge. When the selloff stops, money will pile back into go. It is hard to read how low it will go though but I am pretty sure we are closer to the bottom than the top. Hence good buy
Let’s goooooooo. Good / silver rediculous levels. Bounce coming.