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Very good point re Doropo Daz - but before then Q2 revenues are going to be rip-snorting. That is the technical mining term I believe.
Hehe love it!
117.90 close -
Probably inevitable, Steve. 😂
I thoroughly agree and have been following the GP closely today since topping $2300 and pleasantly surprised that it is resisting the drop below $2290 and wouldn't be surprised now if we see it pass $2300 again by the close.Major players now more invested in maintaining a high gold price namely the worldwide banking fraternity.
This share hasn't closed below the 10day since the 1st of march. Thats a pretty steady guard rail. let the trend be your friend.
I love the use of inevitable (which I mean sarcastically of course), nothing is inevitable apart from uncertainty, death and taxes.
I prefer probable and trade on probables.
GLA.
Go with the data.
Could be
I’m out until the inevitable fallback. Back when gold is around £2050 and miners fall. Many have hung on Centamin coat tails and got burned. If you’ve made a nice little profit, my advice for ears that can hear, let go of emotion, take your profit and be happy. Be patient. Long term, Doropo costs will someday suck the life out of this share and provide another good entry point.
Best wishes to the missus Tony. I'm still 60% in... and holding in case this is a one way trip.
Thanks Mr Bond, Didn't mean the top though, just next resistance, hopefully we consolidate around that price before moving higher, I always have the 8 day and 21 day as selling points but I can see this ultimately moving past the previous high of 220 over time, If GP holds above 2180 then it increases the profit massively over the next year or so, Resolute also starting to set up for me. GLA
Glad your wife is ok Tony.
You’ll be sitting here for a long time and doing nothing at all of your waiting for gold at 2,170.
(unless there is a radical change in data over the coming months and sudden worldwide peace).
You’ll be missing out on a lot trading opportunities.
That’s the consequence of charts- I recall someone here is still waiting for 97.5 to re-enter.
Gold can only 2 ways like an sp, up or down.
But I prefer data approach to lessen odds. All gaps and charts do is provide people the opportunity to give a reason for past prices.
Charts are “old hat” in this AI driven world- way more complex algos than there used to be.
2281-2285
2257-2267
2238-2249
2187-2193
2170-2175
They always get back filled. Anyone missing this rally is missing the elevator drop later. If you made some money and have not predicted the the top be happy with the success you did get. Like playing tipping point. Enjoy the mystery prize and being in the game as long as you dared. Tony
(In the hospital yesterday, wife okay but it sure gave me a reminder of what is truly important).
Hardly awful making about 3% in a day!
IDS is a waste of time- still got my £750 worth I bought when they floated lol.
Never traded them and worth a lot less now lol.
I was in and out of IDS quickly yesterday (missing most of the rise :-( ) and back in here at 115.4 . So i am marginally worse off that if I had just held.
My timing is awful!
Play the data, I simply don’t understand when a stock rises some people think it goes down-
Bizarre viewpoint, play the data , it’s not hard.
May not
Hi Herbie yep take your point, silver more an industrial metal these days. But also...it's shiny therefore I want some.
Equities in Europe traded mixed in the premarket on Thursday as investors geared up for the updates on services and manufacturing in Germany, the United Kindom, and the Eurozone, with the latter also revealing its results in producer prices. Additionally, the European Central Bank (ECB) will unveil the minutes from its latest monetary policy meeting.
The DAX and the CAC 40 stood flat at 8:00 am CET. The FTSE 100 advanced by 0.13%, and the Eurostoxx by 0.08%.
The euro and the pound sterling stood flat against the United States dollar at 7:58 am CET, selling for $1.084116 and $1.26512, respectively.
Baha Breaking News (BBN) / JR
Gold currently $2296.05
HI 3bear and all, yes saw an argument the other day that silver isn't at an all time high but gold is and they were saying buy silver, but silver is useful and gold is for jewellery so I'm thinking this really is the gold spiral everyone has long been predicting, and silver will lag behind because at the end of the day, its useful so in a market crash its less than useful.
Could it be the hedging that's holding this back?
May cool off again today, tomorrow
Hi3bear, That sea-change is what I have been expecting for the past few years but despite the debt levels it has not seem to come. Maybe it is different this time and this is what we are seeing. We certainly seem to have a turbo charged gold price at the moment even if the turbo effect seems to be missing in CEY's accompanying rise. Still hoping we see something similar to the spring/summer of 2020 when CEY when pretty much vertical.
Best wishes,
Prof
El prof, deeply suspicious that this is a sea-change flight to real money as the world gradually realises that 10 years of QE culminating in 2020's insane "print-our way out of covid" paper orgy has increased the price of everything and the value of nothing. Silver also topping $27/oz. I would be a massive silver stacker and have kilos of under the stairs if the UK govt didn't whack a 20% VAT charge on bullion and coins. Idiots, they would create a massive investment market if they took that tax off - but what investor can stomach a 20% hit on entry before you look at the spread. Ridiculous.
Love the "music" that comes from the US. Jobs? well having spent 6 weeks in the US, all I can say is there are a hell of a lot of jobs which are paid in tips, to be polite. One gets a lot of lovely stats, but whats behind them and how they are manipulated is well worth consideration.
"Better-than-estimated US data on job openings and factory goods orders overnight added to doubt about the pace of monetary easing in the world’s largest economy, with traders now projecting fewer rate cuts this year than the Federal Reserve."
The rally in commodities also adds to concerns that global inflation will be stickier than expected which could force central banks to keep interest rates higher for longer. Inflation in Australia is fairly well out of control, at least by my measure, and thats what really counts for me and my children. Ave houses now cost 8 x the ave salary, used to be 3 x, about 40 years ago. Make a difference? Everyone has their handout for more money, and they are getting it, but where is the productivity drivers? Oh dear, forgot about that stuff? And then there is the mounting entitlement payments, which have gone through the roof with no end in sight. However there is end in sight for the price of Iron Ore, and a lot of other commodities we rely on to make our economy go around. (thanks goodness for GOLD!!!) we laugh.
And the geopolitical backdrop is a tinge unhinged. We have Israel out of control and arguable guilty of genocide
https://www.un.org/unispal/document/anatomy-of-a-genocide-report-of-the-special-rapporteur-on-the-situation-of-human-rights-in-the-palestinian-territory-occupied-since-1967-to-human-rights-council-advance-unedited-version-a-hrc-55/
, also there are suggestions that the death of 13,000 children is collateral damage (or was it a screw up by the AI algorithm, Lavender?)! Not to mention the recent event "Celebrity chef Jose Andres said on Wednesday (Thursday AEDT) that an Israeli attack that killed seven of his aid workers in Gaza ...had targeted them “systematically, car by car”....and Iran vows revenge as it accuses Israel of deadly airstrike on Syria consulate in deepening Middle East crisis.
You have more than 50 nations who are technically insollvent, and who would have defaluted on debt payments if they werent bailed out by...more debt.
And the most serious is the ... Chinese gold purchases rose 30% in 2023, as the country's central bank bought the commodity to replace its dollar holdings amid tensions with the U.S. and individual investors seeking a haven for their assets as the economy stumbled (worth checking out chinese money laundering efforts, if you have the time and enjoy that sort of amusement?
So why is gold going up? Its going up in terms of a default global fiat which has been out of global control for too long, and is now being called out by some fairly powerful players. Expect more confrontational stuff from the US is my tip.
the gnome
Just been watching the live gold price for a while. After a few attempts it has just broken $2,300 to set a new record high. Heady times. As we were saying yesterday - will it hold?