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It was to be expected Razors Edge.
This week was the perfect opportunity for the FED ,no matter what their figures showed to push Gold lower. Its Year of the Dragon ,chinnese New Years holiday ,.
Those in the 90's are now all closed.
Precious metals traded with losses on Tuesday, with gold falling more than 1% and silver plunging over 2% after the latest report showed that US annual inflation was 3.1% in January, which was higher than investors' forecasts. The latest figure seems to have raised concerns about what the Federal Reserve's next steps might be.
At 9:33 am ET silver dropped 2.15% to sell for $22.21 per ounce. Gold lost 1.11% at the same time to stand at $1,997.30 per ounce, hitting below $2,000 for the first time since December 13. A minute later, platinum declined by 2.50%, selling for $861.51 per ounce, while palladium sank 1.18% to go for $882.06 per ounce.
Baha Breaking News (BBN) / DD
Gold currently - 1.49% $1991.04
My post from the 8th below... alas so and the numbers not supportive:
SteveJones999- US Data8 Feb 2024 14:50
There some CPI seasonal revisions tomorrow, initial jobless claims showed employment still strong.
Next Tues is most likely (outside any surprise RNS here), the next potential move day- it’s monthly CPI data.
GLA.
European stock equities traded lower in the premarket hours on Tuesday in anticipation of new data releases, including an employment report in Britain, consumer inflation print in Switzerland, and a survey into economic sentiment across the euro area and Germany.
London's FTSE 100 was down 0.15%. The Euro Stoxx 50 dropped 0.25%. Frankfurt's DAX dipped 0.08%. The CAC 40 slipped 0.06%.
The euro was flat against the dollar, going for 1.07708 at 7:52 am CET. The pound sterling lost 0.06% versus the greenback, trading at 1.26209.
Baha Breaking News (BBN) / AB
*Behind every smile, there’s teeth.
Gold currently $2024.37
Hi Siko,
Firstly I am no supporter of PM Rishi Sunak or the majority of his parties foreign policies , or their UK policies come to that!
Just to reassure you I am not trying to discredit Eygpt or anyone else, unless of course it is justfiable to do so, which is why I am trying to ascertain if there is any truth in the allegations made in the media posts which I have provided the links to.
I think what is happening in Gaza and to all the people and other living creatures trapped there is appalling and that the NGO's and aid agencies should have unfettered access and shouldn't be subject to financial exploitation by corrupt border control officials.
People charity contributions should be used to support the cause, not line the pockets of spivs and and gangsters who always seem to profit during times of conflict and suffering the world over!
As a matter of interest if you care to listen to the BBC world service there are a growing number of Israelis who are against the way the Palestinians have been treated by their Israeli government .
Yael Noy and most of the Road to Recovery volunteers have continued to drive Palestinians from the West Bank to hospitals in Israel for cancer treatment,
Yael refuses to dehumanise them, or equate them with Hamas, which is classed as a terrorist organisation in the UK and other countries.
https://www.bbc.co.uk/news/world-67592468
https://www.goodpeoplefund.org/program/road-to-recovery/
https://www.euronews.com/2024/01/13/meet-the-israeli-charity-supporting-palestinians-amid-the-gaza-war
I have written to Centamin and to Capital Drilling's representatives as a shareholder to make them aware of these allegations making them aware that I have written to my MP asking that he raise these allegations of corruption with the responsible UK government departments. (see below abridged version of my letter)
Andrew Lewer MP
House of Commons
London
SW1A 0AA
12th Feb 2024
Dear Andrew,
I would be grateful if you could ask the relevant UK government department representative if there is any truth in these allegations of the responsible Eygptian government officials being complicit in such an appalling extortion racket on the Gaza border which if true are not only the exploitation of the already suffering people of the region, but also the charities and their generous and well meaning supporters.
http://tinyurl.com/yyhextmp
http://tinyurl.com/a2euur4b
http://tinyurl.com/yeyre4r4
I look forward to your reply on this at your earliest convenience.
Yours Sincerely
My Name & contact details
Gold mining is an energy-intensive process, potentially creating significant carbon dioxide, but recycled gold has a carbon footprint that is more than 90% smaller than mined gold.
Apple (Nasdaq: AAPL), said it plans to use 100% recycled gold in its circuit boards by 2025.
“Outside of financial services, there is increasing awareness of the importance of recycled gold,” the firm said in the announcement.
“Gold can be infinitely recycled with no degradation in quality,” the firm said. “This allows investors to access gold while reducing the emissions footprint of their portfolios.”
https://www.kitco.com/news/article/2024-02-12/uk-listed-rmau-has-half-its-holdings-recycled-gold
Hi Mr T,
Before I reply to your post, and so that I reply appropriately if needed..
Is this your actual post? Or someone passed it on to you to post here on his behalf?
Also, is the aim of the post to show that Egypt is a corrupt country, which is bad for Centamin?
Or to show that Egypt is not helping the Palestinians, which I think this is not the place for it, but if some here think it's relevant, then I could reply in details from the ground, as I'm in Egypt now and involved directly in the relief efforts to Gaza..
One thing for sure, I liked the British minister's comment about the tonnes of aids sent to Gaza, while I saw before Mr Sunak getting off a military plane in Israel delivering huge offensive military supplies to help Israel..
Thanks,
Siko
Yes Mr Tibbles ,iti sad.
But as Esta Ranzen used to say "Thats life"There is corruption everywhere,even charities ,who take huge commissions from gifts ,they say are expenses.
Egypt is not much different than the West.
Where it is done by benefits or gifts to politiciians or party funds, maybe travel tickets ,holidays ,or inside information.
The brown envelope maybe ,but by agreement.
And to cap it all, tax deductable with a good accountant. ;-)
Centamin whilst carrying out its legitimate Eygptian business operations has gained some direct experience of the corruption that exists in some facets of the Eygptian government, so I thought these allegation's of an extortion racket being operated by those with close links to the with Mahmoud Al-Sisi, the General Intelligence officer and son of the Egyptian president may be of interest.
Mohamed Hamdan Dagalo, aka Hemedi has a strong friendship with Mahmoud Al-Sisi, the General Intelligence officer and son of the Egyptian president. this has opened doors to business with the army directly, without anyone’s supervision or harassment.
The charity, which does not want to be named to avoid obstruction to its relief efforts in Gaza, spoke to Middle East Eye in outrage at having to pay what it openly describes as a bribe to a state-linked agent.
A spokesman for the charity said: “We have worked around the world in times of war, earthquakes and other disasters, but we have never been treated like this by a state who is profiteering from the dispatch of humanitarian goods. It’s draining a lot of our resources and the bribe being paid is per truck.”
The charity said the money is being paid in the form of a “management fee” to a company affiliated with the Sons of Sinai, a construction and contracting firm owned by the Sinai businessman, Ibrahim al-Organi, and part of his Organi Group.
He heads the Tarabin tribe in the Sinai desert bordering Israel and owns a company that is a joint venture with two companies owned by the GIS.
The Organi Group is alleged in media reports to be the ultimate beneficiary of a lucrative sale of “fast-track” permits for Palestinians wishing to escape from Israel's war on the Gaza Strip.
https://www.middleeastmonitor.com/20240206-ibrahim-al-organi-is-the-crossing-broker-and-friend-of-sisis-son/
The charity’s statement to MEE is the first concrete evidence of Egypt or Egyptian government-linked parties demanding a cut from the humanitarian aid going into Gaza, which already is subject to weeklong delays incurred by Israel.
Earlier this month, James Heappey, the British minister of state for the armed forces, said that over 150 tonnes of humanitarian aid delivered to Egypt by the Foreign Commonwealth and Development Office (FCDO) is waiting to be transferred into Gaza.
The humanitarian situation in Gaza is bleak. More than 26,000 Palestinians have been killed since the war broke out in October, and on Sunday, a UN expert said famine in the enclave was “inevitable”.
Last week, Middle East Eye spoke to five families from Gaza who all confirmed that they had paid fees in the thousands, mostly in US dollars or euros, to mediators who then facilitated their exit from Gaza.
https://www.middleeasteye.net/news/war-gaza-egypt-charity-intelligence-linked-firm-aid
An international charity, known for its emergency relief efforts in conflict zones, has exposed a staggering demand of $5,000 per truck
Hi J.W, without wishing to possibly appear pedantic Centamin entered the FTSE 250 index in June 2010.
British index investors are often caught in a battle between choosing the FTSE 100 or the FTSE 250. Both indexes contain top-notch UK shares listed on the London Stock Exchange. Yet their historical performance and volatility levels contrast drastically.
The FTSE 250 index contains the 101st to the 350th largest UK shares by market cap on the London Stock Exchange. It’s a relatively newer index than the FTSE 100, launched in October 1992. Despite containing 250 stocks, the diversified nature of this index hasn’t provided much immunity to stock price volatility.
The smaller size of its constituents means the index is largely made up of mid-cap and even some small-cap stocks rather than the large-cap stocks found in the FTSE 100. This makes the index prone to price fluctuations and limited dividends. So much so that the index only represents around 9% of the total value of listed UK shares.
However, the smaller size of these businesses opens the door to superior growth potential if a firm is successful. As a result, despite the increased volatility, the FTSE 250 has historically outperformed the FTSE 100.
Just like the UK’s flagship index, the FTSE 250 is weighted based on market capitalisation, with its biggest constituents having a greater influence than its smallest.
The FTSE 350 is a subset of the FTSE 100, consisting of the next 250 largest companies listed on the London Stock Exchange after the top 100. It is a market capitalisation weighted index which means that larger companies have greater influence over the value of the index due to their higher market capitalisation. The index aims to represent around 85% of UK market capitalisation and therefore provides an accurate snapshot of performance in the UK stock market.
Major European stock exchanges traded mostly higher in the premarket session on Monday as investors are expecting another week full of earnings reports from major companies around the globe. In the continent, ThyssenKrupp AG, Commerzbank AG, Renault Group, Eni S.p.A and National Westminster Bank will publish their respective business performance for the most recent quarter during the week.
Optimism may be fueled by comments from European Central Bank officials about the possibility of an upcoming interest rate cut.
The DAX traded flat at 8:00 am CET, the FTSE increased by 0.20%, while the Euro Stoxx 50 advanced 0.26% and the CAC 40 went up by 0.09% simultaneously. Both, the euro and pound sterling traded flat against the dollar, changing hands at 1.07915 and 1.26316, respectively at 7:58 am CET.
Baha Breaking News (BBN) / AC
Happy Monday y’al
Gold currently flat at $2023.75
Only a few weeks wait, ought to come to Australia, might be good for a few months, and then good luck if you need a specialist.
Then there is the US, with the most expensive Health Care systems, and also one of the worst.
prevention is the best cure. ...
the gnome
Thanks Mr T
Funny old world eh? You might be interested in the findings and opinions of Justice Brandeis in 1908-1912. Its a murky world and we have learnt so little from history, even when it is well articulated.
https://louisville.edu/law/library/special-collections/the-louis-d.-brandeis-collection/other-peoples-money-by-louis-d.-brandeis
Quantitative easing and rising interest rates have encouraged central banks to reconsider their gold reserves
And so have economic sanctions…
Since the 1970s, currencies have not been linked to gold, nor have economies settled their deficits in bullion. But 50 years later, central banks seem to be getting back into the metal...have we learnt or what?
Data shows that central banks have been net buyers of gold since 2009. Yet momentum has accelerated over the past couple of years: according to the World Gold Council, central banks bought 1,037 tonnes of gold in 2023 – just shy of the record amount.
This is a significant change, but one that has been easy to miss. According to economist Meghnad Desai, gold has “crept back as a major force in world money” – yet there have been no big policy announcements to herald its return. Instead, a rethink has come about almost as a side-effect of other policy decisions. These include interest rate hikes, quantitative easing (QE) and even economic sanctions.
good luck gold...
....
Why,now in BRICs. do they need $ s.
Buying food, pay in local currency and change their suppliers.
I am sure they will find accomodation.
May peace and blessingsbe upon you and your people Alhamd.
Safeya Mounir , Friday 9 Feb 2024
Said Zaghloul, a member of the Butchers Division of the Giza Chambers of Commerce, attributes the phenomenon to the current dollar shortage. Hard currency is needed to import raw materials or other inputs that go into food production, he said. Traders and producers with the means to do so sometimes resort to the black market to obtain dollars at an exchange rate that has recently hit LE75 to the dollar.
People across the country were stunned by the sharp hikes in food prices last week.
https://rb.gy/6et0cb
Tibbs
Enormous outflows of gold from the COMEX and towards global central banks, reviewing current price action and evaluating silver in the short term.
http://tinyurl.com/3amvs9yd
If true , that Gaza will force to cross border into Egypt , suffering will continue for my country
i read today inflation in Egypt may not be high now , may be extreme , how can the Gaza people live to cross the border by force ?
from steve hanke , not an idiot mind you ,
The Central Bank of Egypt released their official inflation rate for Jan. 2024 at 29%/yr.
This official inflation rate is RUBBISH.
Today, I accurately measure Egypt’s inflation rate at a PUNISHING 120%/yr. That's over 4x the official RUBBISH rate.
so i say pray for Egypt Centamin shareholders all , Allah can help , to prosper , it is getting hard to find enough food to afford for its people , hard is not the proper word , Sisi to give wisdom from heaven soon
Are you asking which to buy or sell?
Both, one or neither?
Source Thee Kings Fund 18 December 2023
Agency and the Office for Health Improvement and Disparities.
Policy, finance and performance or the NHS in a nutshell!
How has spending on the NHS changed over time?
The vast majority of public1 NHS funding comes from general taxation and National Insurance contributions (NICs). A small proportion of funding (1.0 per cent of the total Department of Health and Social Care budget in 2021/22) comes from patient charges for services such as prescriptions and dental treatment.
This excludes private income NHS public providers can earn, and Department of Health and Social Care spending on non-NHS providers.
What is the NHS budget?
Public funding for health services in England comes from the Department of Health and Social Care’s budget. The Department’s spending in 2022/23 was £181.7 billion. The vast majority of this spending (94.6 per cent, or £171.8 billion) was on day-to-day items such as staff salaries and medicines. The remainder was largely capital expenditure on long-term fixed assets such as new buildings or equipment.
Of the day-to-day spending, most (£155.1 billion in 2022/23) was allocated to NHS England for spending on health services. The remainder was allocated to central budgets of the Department of Health and Social Care and its other arms-length bodies such as the UK Health Security Agency and the Office for Health Improvement and Disparities.
Policy, finance and performance or the NHS in a nutshell
Source Thee Kings Fund 18 December 2023
How has spending on the NHS changed over time?
Since 1955/56, spending on the NHS has increased by an average of 3.6 per cent per year in real terms, but this masks substantial variation over time. As most spending on health is allocated from central government, it depends on the decisions made by the government of the day.
Looking more recently, since the Conservative party has been in power (2015/16), spending has increased by 2.8 per cent a year on average in real terms. But it is important to remember that this masks more substantial annual increases or decreases caused by additional investment during the Covid-19 pandemic.
The government’s most recent budget included planned spending to 2024/25. Between 2022/23 and 2024/25, spending on health and social care is projected to increase by an average of 0.1 per cent a year in real terms.
Where does the money go?
In 2021/22, the largest area of day-to-day spending was on staff costs, equating to 40 per cent of expenditure. Other areas of significant spending include primary care (general practice, dentistry, etc), procurement (supplies and services to deliver health care) and non-NHS health care (independent, local authority or voluntary sector providers
One in 20 patients has to wait at least four weeks to see a GP at a time when funding for family doctor services is falling, NHS figures show
.https://rb.gy/bin7fi
Major European stock exchanges traded mostly lower in the premarket on Friday as investors processed the latest data consumer prices index in Germany and the influx of earnings reports from the previous day. Thursday saw Unilever, Siemens, and Credit Agricole unveiling their respective business performance for the most recent quarter. In addition, AstraZeneca's shares dropped after the performance report.
The DAX lost 0.15% at 8:00 am CET, the FTSE went down by 0.09%, while the Euro Stoxx 50 decreased by 0.18% and the CAC 40 shrank by 0.16% simultaneously.
Both, the euro and pound sterling traded flat against the dollar, changing hands at 1.07735 and 1.26197, respectively at 7:57 am CET.
Baha Breaking News (BBN) / AC
Happy Friday y’al
Enjoy your weekend
Gold currently $2033.65
I cannot say if i agree or , if i do not , may Allah give to Sisi wisdom , and to us his people , gold is good ,i f that is , the wolrd is not upended
"Israel is like the United States' 'family jewels.' Is this logic clear now? What does China want to do? They are proposing a two-state solution with the whole world, a two-state solution involving two sovereign nations. Palestine becomes a sovereign country next to Israel, and then allows the People's Republic of China to station troops and establish military bases near Israel's borders. Just think about what this means. 'The intention of the drunkard lies not in the wine.' Just when you thought it was about Taiwan, it turns out to be about Israel. This issue is really quite significant.
"What does China need to do? To prove that the United States is the one violating the post-war order. China subsequently establishes a new order, which is great power competition. What is important? Tawain, this small shabby island, can be taken back sooner or later, but what is the key point? I [China] want to seize the world's order, that's it.
"What do you need to prove about the U.S now? The United States is a troublemaker. Once you prove that the U.S is a troublemaker, what do you do next? Change the order of the United States. If they don't change, you create your own order, it's as simple as that. This is the game of great powers.
https://www.memri.org/tv/chinese-social-media-influencer-big-wild-cat-foreign-minister-egypt-visit-taiwan-palestinians-new-world-order
Russian Defense Ministry announced on Thursday that, as a result of negotiations, 100 Russian servicemen have been returned from captivity in Ukraine, while the same number of Ukrainian prisoners have been handed over in return.
According to the statement, the released Russian soldiers will be taken to Moscow for medical treatment.
The Ministry noted that the United Arab Emirates was the main humanitarian mediator in this negotiation process.
Baha Breaking News (BBN) / DD
There some CPI seasonal revisions tomorrow, initial jobless claims showed employment still strong.
Next Tues is most likely (outside any surprise RNS here), the next potential move day- it’s monthly CPI data.
GLA.