The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Agree, we have had 10 consecutive weekly closes of increases in gold price. i cant recall in recent times of this happening. In context, after 7 weeks of consecutive gains on the weekend 26th July we stood at 1901/oz. GL all
Let's not forget the stock markets are only doing so well due to massive artificial inflation.
The money printing and debt from governments is racking up.
Job losses have been delayed here with hugely expensive furloughs but they're starting to hit. That's a lot of people now not earning money to spend in the economy.
This is ignoring any productivity hit as a whole from companies coping with the virus.
Ignoring trade wars with China.
Ignoring Brexit soon to start impacting the UK, Europe, and probably the world.
And so on and so forth.
It's easy to focus on the recovery and forget about the mess the world is in right now.
Hi Rich, that's my point... It was completely necessary and also obvious
Considering adding more here, but not until tomorrow afternoon (so can see how this retracement goes).
JTS13 - I think gold had just become overcooked in the short term and needed to cool off (no bad thing).
As far as I can see it's been trending up for quite a while like this: https://pbs.twimg.com/media/EfNDE7tXsAAzyj8?format=jpg
The markets currently just look for any excuse to have a big rally for a few days and then they do the opposite and start focussing back on the real world messes that haven't gone away. If the markets had a mental state at the moment you'd have to describe it as bi-polar.
Looking like a good play already rich! Shan de Paul’s ladle purchase is looking a bit shaky though
(technically I did in the end :p)
That's ok, just thought you added two lots. Nothing wrong with that;-)
Do think the reaction to gold is close to comical. The charts and 'analyst' articles widely accessible were all shouting about a retracement starting either Friday or Monday. It happened and then that exploded with the later sell-off on Tuesday. The ferocity yesterday was quite severe to be sure, but hardly unexpected. Everyone has their own targets, most I've read seem to be somewhere in region of 1800-1850 (depending upon Fib rules, moving average rules, support rules, or which ever "rules" someone looks at). Personally I've bought back a few, but am expecting a bit more decline after US open before a consolidation and slight improvement before the weekend as traders books their profits from the shorts.
But why comical? The commentators. Yesterday the story is all about how the uncertainty of US stimulus crashed gold. Can you believe it. The uncertainty of stimulus? 'Uncertainty' and 'stimulus', the very fabric of both being bullish for gold. News commentators seem to say whatever their paid to and are shameless to even attempt to hide it... Has the UK officially just started a recession today? Has this Russian vaccine cured covid overnight? Are US elections over already? Has the US-sino trade war disappeared? Have central banks stopped QE policies? ... Oh, wait a minute. That last one is bad for gold now, right?
Then HUM. Gold "crashes" to all time highs (besides this past week) and HUM drops 15%. Everyone panic! Annual EBIT has just dropped from $120m down to $100m and it's game over...
Oh wait? Almost every broker thinks golds going to rise back to all time highs before Christmas. Nah. Sentiment today is bad so let's just sell it all today and buy back when prices are back to what they were 48 hours ago
Sorry folks. Just find it satirical
Urgh - sorry for double post. First one vanished then reappeared.
Just added another batch. Nothing goes up in a straight line. Was hoping for this.
Just added another batch. Nothing goes up in a straight line and this is what I was hoping for.
Pog is also going up and never got to 1850 haha, shandy missed the boat! No three panner for him! Reckon he will still get the ladle though ;-)
Morning chaps,I repeat if the POG stays above $1800 then it is all gravy.
Look at the figures for Q2 and if we go through Q3 with an average sell price of $1800 then those figures are smashing the Q2 figures which where good positive numbers anywho.
I too think it is a known practice of taking profit and a subsequent pull back in the gold price. Particularly with such a record rise in a short space of time. We are not alone, other gold miners have not seen the benefit of a decent rise on the back of POG, but we are seeing a disproportionate drop with the pull back. Have a look yourselves. Imo all good just a blip.
Hummingbird is still a cash cow producing gold at a much higher value than last year.
World banks are still in a mess.
Can’t think of many businesses with a better future.
It’s late and I’ve had a few beers & a couple of glasses of wine ( nothing new there), it’s been a loss day as well so not all is rosy, but blaming it all on the board is not the right approach in my opinion.
I’m not sure how many investors here have run a public company or even a private limited company with all the day to day pressures?
I’ve only been invested in HUM since last December. Before that I was invested in AAU 100% and all I can say is that that the engagement with shareholders is completely different, but for me the difference with AAU is the willingness to engage in discussion with the Board.
The impression I have here is that there are too many dissatisfied shareholders, who invested at a higher price when so much was promised and not achieved in terms of the share price. As a result, so many decisions have been criticised. I suppose that’s inevitable, but put yourselves in the shoes of the Directors trying to steer this in the right direction. Ok, I understand that they are well paid, have cheap share options, but surely they are geared up to criteria that we want from company?
However, as shareholders, we now have a company that is heading in the right direction, which is what the BoD set out to achieve, but that engagement still doesn’t really exist.
Maybe some old wounds need to be healed and better engagement is required going forwards. It works both ways and what’s to lose?
Cheers, Ash
Hum never seems to rise enough on Golds rise and falls more than it should as Gold corrects
It’s the Board that makes that difference