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I bought back in at 100p yesterday ..but not a big holding...not been in for a couple of months or so ..
Basically it appears to be a bet that the FED wont end up being as aggressive as some might think.....despite them suggesting they will throw everything at inflation... plenty of people would love a recession and some bankruptcies in order to get hold of cheap assets of course
The question of inflation lies in supply problems rather than in high productivity within an overheating economy ..
China wants to get moving again and that means improving supply again.....getting the supply chain back in shape once more..
The big question remains energy prices...which is much more of a political problem than a technical problem
High energy prices etc are a big drag on mine inflation of course
Politics still a nonsense in Peru mind you
Dark you are rightI did buy more last time it came to a pound but a. I didn’t expect gold to enter a bear market and b. V sadly only added a small part to my Hoc, I have just under half a million of them at an ave price of over £1.60 so pretty painful. I continue to hold in the hope that Hoc will survive till prices improve and you can near guarantee that if I am finally so scared that I sell it will mark the turn, as I am not selling yet I expect it will carry on down. If you don’t understand the madnesses and irrationality of private investors I am sorry. The only winners it seems to me are those like Ernesto who look like they see it coming, don’t tell us and sell
Sotolo why are you here invested in hoc ? You must be making money. You constantly talk this down. I know you bought below a £1 last time and sold around 150 and now bought in again. Yet it's always doom and gloom. Just go and invest elsewhere mate and be done with the volin. I am Invested here because I believe PMs will go up a lot regardless of hoc performance in the short term. Mate you have good opinions but you are like Dr death. You make money here and then talk it down. Sounds dodgy to me takes your credibility away. And supercharge you know mate death can come to you at any time and you shouldn't boast about your wealth. Try to be humble. I am glad you are doing well but someone caste an evil eye on you well let's say ...
Slater for people who live in U.K. which is a lot of this board’s contributors, it is U.K. inflation they need to keep pace with, if you want to be countryless measure gold against a weighted currency basket when it had still done better than inflation, though not as much, but is neither here nor there measuring a basket for U.K. resident with average spending on imports etc. - even less of course against the dollar. However I. very much hope you are right and I am wrong and that gold doesn’t now fall in sterling to get back where it should which would knock Hoc (quoted in STERLING) as above.
If Hoc finally went horizontal it would be great and a huge improvement on the long fall, sadly I am expecting vertical like Bolland, after this short dead cat bounce, but vertically down. As a very high cost miner, we are exceptionally exposed to the combination of tumbling gold price and higher inflation. At least the coming Peruvian tax hike won’t affect us if we aren’t making profits the next couple of years, by which time it might be reversed as mines close and the government take falls
bolland07 Hahaha, talking to me 3 year old son and typing durrrr. Vertical.
Comeon
Vertical would be even better!
Hoc about to go horizontal, and ( FRES) though i see bigger returns here.
Afternoon.
USDJPY plummeting - it's priced in 67 rate rises already and is now looking wobbly whilst awaiting a decision by the Fed in June as inflation destroys all value before it - not quite all value of course as Gold inverts against that.
Still got my feet up for a new ATH for Gold in H2 ...
manufacturing and employment data a little grim in the US reported and gold does what it is supposed to do as people take to bonds and yields go down. Good for gold !