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Forget all that- US CPI data in a few mins ago, that’s why gold has now risen up to 2027 as I type plus markets up…
1979-1984
1989-1991
2006-2019
This is not looking good for gold as we come up to inflation news. if it goes down after 30 seconds you know where the futures chart gaps are.
111p
Interesting. Newcrest has some marginal mines, does not need a lot to go seriously wrong. I would not be parting with this sort of money, unless I was desparate..and there lies a story, a growth story...
There are remarkably few large scale tier one gold ore bodies, very very few, and it will not get any better.
best
the gnome
The new proposal of $19.5 billion came after Newcrest rejected Newmont's previous $17 billion bid in February. Under what Newmont calls its "best and final" offer absent a superior one, Newcrest investors would hold a 31% stake in the combined company.
https://www.investopedia.com/newmont-boosts-its-offer-to-buy-newcrest-to-usd19-5b-7404858
Hurdles loom for Newmont's $19.6 bln bid for Australia's Newcrest
Newcrest's board, which in February unanimously rejected Newmont's previous offer of 0.380 shares for each of the Australian company's shares, has opened its books to Newmont for due diligence but has not given its recommendation to shareholders on the offer.
"Importantly, board recommendation and (an) independent expert report still remain key hurdles," Morgan Stanley analyst Rahul Anand wrote in a report to clients on Wednesday
https://finance.yahoo.com/news/hurdles-loom-newmonts-19-6-054052757.html
Major stock indexes in Europe traded mixed in the premarket on Wednesday as investors readied for the latest inflation data from the world's leading economy to be released later today.
Yesterday, the International Monetary Fund (IMF) slightly revised its global economic growth outlook for 2023 to 2.8%. Meanwhile, it was said that the gross domestic product (GDP) growth in the Eurozone is expected to stand at 0.8% this year, and 1.4% the next year.
The DAX was flat at 7:12 am CET, while the CAC 40 increased 0.09% and the FTSE 100 lost 0.09%. The Euro Stoxx 50 declined 0.11% simultaneously.
The euro was 0.12% above the dollar at 7:13 am CET, selling for 1.09267. The pound grew 0.10% against the greenback and went for 1.24366 concurrently.
Baha Breaking News (BBN) / AY
Pog currently + .7%
Happy hump ya’l
Financial Times: The world’s largest gold miner Newmont has raised its offer for Australian rival Newcrest to $19.5bn
Subscription only:
https://www.ft.com/content/11d0a48c-a62e-4508-99fb-f8de697036e3
No one can predict events but anyone can interpret charts- so if charts are correct, why isn’t everyone millionaires??? I say it’s cos events make SPs and charts just reflect the events …
Trading algos now are so complex- charts are old hat these days - the tech is way too advanced now
Yes but even if it takes years people say the backfill was there- trading on this and charts is simply madness - I trade on events, these are then reflected in the charts- it’s events that make and drive SP, the charts simply reflect the events.
Steve
Some news will come along and the probability of backfilling by Friday is high. Sometimes it happens asap and occasionally it is a few days later. The news is likely to be pro USD.
Glad all went well Tony.
But you now have to replace the phrase "always gets backfilled..." as gold rose and didn't fall at the US opening, and is still up as I type.
Hi folks
Had to take my wife into hospital and just got back with problem solved. Yours truly on cooking,nursing and slave butler duties for a few days at least.
My rationale for gold is that we have a large gap in the charts between $1989 and 2003. Gaps in the gold chart always get back filled if those gaps are with USA market. We are getting closer to May and I have lost count of the times it has been a bad month for gold. I will still hold Shanta and HOC for different reasons. Centamin is very promising for Q3 and Q4.
What's the chance of 99p was the bottom,and now we start the 5th Elliott wave up ?.I posted before that i didn't know if 100p was the bounce point,or Naively suggested 90p a possibility ( 90p would have penetrated wave 3,so a stupid suggestion from me).
Hope you guys out there can put me right, as i see that you're very smart and don't tolerate nonsense posters like on Boohoo !!!!.Or for that matter that OTHER site !!!!!!!!!.
What is your rationale for an expected pull back at the US open ?
Very odd timing Tony- S&P, Nasdaq, DJ all up on the futures market- US CPI on Weds... but each to their own.
I was back in earlier this morning after selling last Thurs- (don't like being in miners over a long 4 day timeframe, in case something happens...). I sometimes drop half before major info like CPI so it's quicker for me to react either way- but I can see no logic for pull back when the USA opens- of course I could be wrong, but I work on logic.
GL.
ISA retained, trading account sold off. Expecting pull back when USA opens. Positions in Centamin and AAZ to be taken in the summer. Holding on other miners. Wish all luck. For trading accounts CGT limit is £6,000 in UK for 2023/24.
Peter Williams was also a co-founder of Independence Group (now about $11b), was directly involved in setting up Papillion (5-6 m ozs, Fekola deposit) in Mali and Gryphon Minerals (5 m ozs, Wahignion in Burkina Faso) and is involved with African Gold in Cote Ivoire ...https://www.listcorp.com/asx/a1g/african-gold-limited/news/pegmatite-discovery-on-agboville-project-cote-divoire-2827441.html
as they say, been around a bit
TheGnome
Major European stocks registered gains ahead of Tuesday's session as investors awaited the March retail sales data for the Eurozone scheduled for release later today. Throughout the week, markets will assess March inflation data from Germany, Spain, and France.
The DAX gained 0.66% at 7:11 am CET, while the CAC 40 rose 0.72%. The FTSE 100 expanded by 0.60%, and the Euro Stoxx 50 climbed by 0.59%. Both the euro and the pound increased by 0.22% against the dollar at 7:22 am CET to sell for 1.08848 and 1.24094, respectively.
Baha Breaking News (BBN) / ND
Keywords: EUROPEAN MARKETS
After a “year on the ground” with the combined Elemental Altus Royalties, STEVEN J. POULTON, pictured here, and FREDERICK BELL are assaying an expansive folder of metals projects across Africa, the Americas, Canada and Australia.
The two, Steven, 46, and Frederick, 36, say they might transact an Egypt gold project via spin-off, mirroring a recent Morocco spinoff into a small London pub-co explorer. Or a clean spinoff into a new equity (shell). Or via a joint venture or multiple JV.
Elemental Altus ELE ELEMF controls something like 2,000 square km of concessions/licenses in Egypt. I just talked with the two, who are based in London.
“We are discussing the overall strategy with our company,” Steven says. "It's a timely question."
If the Arabian-Nubian Shield, with Egypt on one side and Saudi Arabia on another, and large miner Barrick all over the place, catch investor heat as precious metals prices (we believe) continue their climb, anything with an EGYPT address probably would appreciate.
Centamin Plc, a $2 BILLION U.K. gold miner, is the marquee miner in EGYPT. Elemental Altus also has marquee status of a sort in Egypt: La Mancha Fund, owned by Egyptian billionaire Naguib Sawiris, is an ELE investor.
Elemental Altus in addition to Wadi Dubur in EGYPT's Eastern Desert, has licenses in Ethiopia’s Tigray (where I have not been in 8 years), among other ‘Shield’ properties.
In Egypt, Heye Daun (also pub-co Osino Resources OSI OSIIF in Namibia) has kept his private Lotus Gold active with 10 blocks, 1,700 square kilometers, in the same area as Elemental Altus: Eastern Desert.
Pictured here: Lotus (named after the Egyptian white lily) drilling at site.
More to come. I have been purchasing ELE shares.
---------------------------->>>>
My Thoughts:
I have not been purchasing ELE shares.
Interesting to note Elemental Altus Royalties CFO David Baker was the key person behind Centamin's defence team from the hostile takeover attempt by Endeavour Mining while he was working at Tamesis Partners in London. https://www.tamesispartners.com/
Now he's working for an Endeavour associate company with Naguib Sawiris as the main investor in both... Mr Sawiris is persistent and if he can't beat you he'll get you to join him, eventually
And Peter Williams (now a non-executive director at Elemental Altus ) was a founding director of Ampella Mining and was present during the exploration/delineation of both the Konkera/Batie West deposit and the Doropo deposit - the latter still under consideration by Centamin
https://www.linkedin.com/in/davidbakermining/
https://www.elementalaltus.com/investors/presentation/
https://us5.campaign-archive.com/?e=[UNIQID]&u=d3a1417c9ff35564e0ddc31e9&id=0c6bea06bb
..have to say, although market are close today and we could have a completely different reaction comes tomorrow.....but look at what effect it has had a little rise in USD index on POG...now futures down almost 1%..
Interesting to see if this move is design to catch out stops, or is a more meaningful move downward...
I believe is more the second option.
Yes a pull back definitely on the card.
With no economic indicator till Wednesday, looks like market is picking up where it left on last Thursday....one or more Fed rate rise expectations .
I am just trying to figure out when POG $2000 level (ish) resistance will become support. For a mid long term investment view on miners, imv valuations have reached high levels if POG remain below the $2000 and yet many catalyst on macros are pushing for much higher POG... Best trade with caution right now.
Expecting a pull back to tests 50ma at circa 1900 in the short term, expecting a circa 2030 handle on spot, come the June contracts Expiry.
A chance to add or day trade.
...indeed as I am writing, USD index just shot up past 102, meaning that for gold price is not going to be so straight forward for a rise in short terms...
IMO POG needs more of changes in the geopolitics economies, than simply a correlation between USD, rates and the Fed,
unless bond yields don't get back down to very low levels (need a new QE..)