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I think the same advice of exercising extreme caution and doing research can be said about most potential investments, even gold mines run on "Spoof"for short term gain to pump up the price by "Chancers and former policemen!
I seem to recall Andrew Maguire referring to this in several recent broadcasts!
'Unreported' Central-Bank Buying Boosts Global Demand
Tuesday, 1/31/2023 14:45
The GOLD PRICE fell and then rebounded from 2-week lows against a rising Dollar in London trade
Quite so Nofear!
Tuesday, heading into tomorrow's much-anticipated US Federal Reserve decision on interest rates just shy of $1920 per ounce after the world's largest gold ETF saw a small outflow overnight.
With the price of gold dipping within $1 of $1900 per ounce before rebounding, new data from the World Gold Council meantime made headlines by reporting the heaviest global gold demand since 2011 for last year as a whole.
"Colossal central bank purchases, aided by vigorous retail investor buying and slower ETF outflows, lifted annual demand to an 11-year high," says the mining-industry-backed WGC, now marking 30 years of its regular and widely-respected Gold Demand Trends reports.
Despite that rise in total demand however, gold prices were dead flat in Dollar terms in 2022, rising just 0.08% on the previous year’s annual average for gold's weakest price increase since the bottom of the bear market ending in 2015 thanks to large private investment flows to physical bullion turning negative, gold-backed ETF trust funds shrinking, and speculators cutting their bullish betting on futures and options contracts.
https://www.bullionvault.com/gold-price-chart.do
Trust me on this one!!!
Trust
I hope that you are right but you have said it 4 times so far this year.
Maybe you need a couple of more exclamation marks? !!!!!!!
Thanks Rebess, fascinating stuff and will certainly do my homework
Cheers Bob
KAU & KAG are hardly unique, they are just another stablecoin theoretically backed by a specific asset in this case gold & silver as opposed to the likes of Tether backed by USD. The addition of an ability to use a credit card to spend your gold & silver is just the same gimmick that was done with BTC backed credit cards which have largely proved to be uneconomic & simply add another level of fees to the card user.
My problem with stablecoins is that they are unregulated and the existence of the actual backing is often questionable.
KVT has all the hallmarks of a pump & dump Ponzi scheme. If they issue 300k coins at $1000 each the promoters walk away with $300M in exchange for a promise of giving a 20% share of a revenue stream which as yet does not exist - I know which side of that transaction I would want to be on.
All I am suggesting is that people considering investment in these products look closely at the business model backing the unquantified yield promises & exercise appropriate caution.
Good luck.
High Gold Price Strong on China's New Year Return Ahead of the Fed, But Sinks Indian Demand
Monday, 1/30/2023 14:46
GOLD PRICES in the US Dollar firmed on Monday as financial markets looked ahead to this week's interest-rate decisions and inflation comments from the Federal Reserve, the European Central Bank and the Bank of England, while the price of bullion in China and India, the two biggest gold consumer nations, rose to multi-year and all-time highs respectively, writes Atsuko Whitehouse at BullionVault.
With analysts and traders expecting the US Fed to slow, pause and then start reversing its interest-rate hikes in 2023 while the Eurozone and UK catch up, the Dollar index – a measure of the US currency's value versus its major peers – today edged down to near an 8-month low.
That saw spot gold steady above $1926 per ounce, down from Thursday's new 9-month highs near $1950 per ounce after the benchmark price in London – the precious metal's global trading and storage hub – just failed to make a 6th consecutive weekly gain on Friday afternoon.
"This gain [in gold] is believed to be largely driven by investors looking to mitigate risk and in anticipation of a slowing in / cessation of the Fed's rate cycle," says analysis from Rhona O'Connell at brokerage StoneX Group Inc.
Gold prices on the Shanghai Gold Exchange meantime began the new Year of the Rabbit unchanged on Monday from pre-Chinese New Year at ¥422 per gram, the highest since September 2020.
As China's financial and wholesale bullion markets reopened after the Spring Festival holidays, the price of gold in Shanghai continued to show a strong premium to London, increasing to $13 per ounce today, more than 60% above the typical incentive to new imports of gold into the metal's No.1 consumer market.
https://www.bullionvault.com/gold-news/gold-price-fed-013020232
The only way is UP Now!
Paul neither Kinesis nor Basle3 seem to have made much difference to the gold market unsurprisingly
Fair comments Paul, I was wondering the same!
Ive just turned on the computer and see gold and Centamin are down do far this morning.
Do you think that Basel 3 will kick in and make a difference or will it just be ignored and become another thing that people hoped would be a "Game Changer"? along with kinesis?
I remember it being talked about on here and Andrew Maguire had been bigging up the launch of it ---then it got cancelled or put back.
Has kinesis actually made any difference to the gold markets and will Basel 3????
Major stock exchanges in Europe traded lower in the premarket on Tuesday with another data-packed day ahead. Investors will be looking out for reports on the euro area gross domestic product (GDP), alongside the United Kingdom housing prices, and German unemployment change and retail sales.
In other news, UniCredit and UBS both posted their fiscal reports, while Spotify will follow suit and release its earnings at noon.
The DAX slipped 0.44% at 7:30 am CET, while the FTSE 100 and the CAC 40 both declined 0.33% at the same time.
The Euro Stoxx 50 fell 0.46% concurrently. Both the euro and the pound stood flat against the dollar at 7:32 am CET, selling for 1.08415 and 1.23447 respectively.
Baha Breaking News (BBN) / AY
Cheers- will be 25bps , but key will be the ensuing commentary from Jerome- no one expects anything like a pivot/any suggestion of incoming pivot, but a subtle move to wait and see will make a big difference on this path, although not that likely but you never know :-). The market will be hyper sensitive to any dovish tones- here's hoping
Steve I don’t say much when you mention that gold will probably see some action because of FED data etc simply because I’ve nothing to add but I do appreciate your heads up. Ty.
Wisdomtree Gold 3X Daily Leveraged
Wisdomtree Silver 3X Daily Leveraged
Tickers are
3SIL
&
3GOL
Hi Bob
Yes you can transfer physical gold into a Kinesis account but it has to meet a QAF standard equivalent to LBMA good deliverable bars. - There are of course the logistics and attendant costs involved in doing this. - It's why you probably need to be cautious and learn more before such engagement.
One thing that might interest, Kinesis has a contract with an African gold-miner for supply. - How ironic if it turned out to be Centamin. :) - I don't know who it is btw - that hasn't been revealed. - Cheers.
Hi Rebess
Many thanks for your time spent in informing the board and myself re Kinesis
Your generous offer is also much appreciated. I do hold physical gold which presumably would be acceptable.
Time i think for some further research
Many thanks again
Bob
https://stocknews.com/news/gfi-celtf-drd-3-gold-miners-stocks-to-buy-for-2023/
Centamin plc (CELTF - Get Rating)
CELTF, headquartered in Saint Helier, Jersey, explores, mines, and develops gold and other precious metals in Egypt, Burkina Faso, Côte d’Ivoire, Jersey, the United Kingdom, and Australia. The company’s principal asset is the Sukari Gold Mine project, covering an area of approximately 160 square kilometers located in the Eastern Desert of Egypt.
On January 16, CELTF announced a ruling by the Egyptian Supreme Constitutional Court (SCC) in its favor. The court upheld the constitutionality of Egyptian Law No. 32, which provides that third parties are prevented from lawfully challenging contractual agreements between the Egyptian government and an investor(s), such as the Sukari Gold Mine Concession Agreement.
The judgment was welcomed by CELTH, which would now be in a position to apply to set aside the 2011 third-party challenge to the validity of the license issued under the Sukari Concession Agreement.
During the fourth quarter of the previous fiscal year, CELTH commissioned the 36Mw Sukari solar plant. This helped the company to deliver immediate cost savings and reductions in carbon emissions and went a long way towards providing access to a $150 million sustainability-linked revolving credit facility providing greater flexibility to fund growth.
During the fiscal year 2022, CELTF’s gold production increased 6.2% year-over-year to 440.97 Koz. The company’s gold sales increased 7.7% year-over-year to 438.64 Koz during the same period. At the realized price of $1,794/oz., the revenue came in at $788.4 million, up 7.5% year-over-year.
CELTF’s revenue for the fiscal ended December 31, 2022, is expected to come in at $800.27, translating to an increase of 9.1% year-over-year. Analysts expect the company’s revenue to increase by a further 2.7% during the current fiscal to come in at $821.75 million.
CELTF has an overall B rating, which translates to a Buy in our POWR Ratings system. It also has a B grade for Stability, Value, and Quality.
CELTF is ranked #3 of 39 stocks in the Miners – Gold industry. Additional ratings for CELTF’s Growth, Sentiment, and Momentum can be found here.
Good Morning Evanescent,
I very much appreciate your kind gesture in supporting our friendly and somewhat different from the rest forum.
I appreciate that some may find our conversations and debates somewhat different from the usual boasting and spitefulness s that prevails on so many of this type of forum and we all have differences of opinions at times, but that said I doubt any other forum can boast such wealth of information on Centamin and indeed many other related and non related matters, but possibly most importantly it is a friendly forum where members aren't ridiculed for asking a question or making a trading mistake!
Keep well and good luck with Centamin!
Thank you Tibbs - That is much appreciated.
Rebess, I also meant to say,
That is a very generous offer of yours which demonstrates your personal commitment and trust in Kinesis and I can certainly vouch for your integrity!
Best
Tibbs
I reported it...no call for that sort of abuse
I agree entirely Rebess, unfortunately, it will take some time and mean some investors losing money on the alternative unbacked Crypto currencies before they come to realise that Kinesis is quite different, in fact unique!
Tibbs
Good morning Spoonington
I agree with your philosophy of caution - of course - always. - KVT is not a coin that can be spent like the Kau/Kag. - There are only 300k of them in circulation and that's all there ever will be. - The 300k of KVT's are entitled to 20% of the yield-pool, a pool that is created through the fee-structure linked to trading. - It's more like a dividend payment that is paid monthly in proportion to the number you hold, divided by 300k x 20%. - So you are right, it is not backed by gold/silver as Kau/Kag is, but rather backed by the yield-pool. With regards to caution, it's why I have made the offer, so that you can at least tune-in - observe - learn and take it from there if you want to. - It won't cost you anything. - I should stress that it is in it's early stages of development and that your gold/silver deposits are on the basis of bailee/bailor conditions. - That is to say that ownership and legal-status of balances is always your property and not the property of Kinesis. - I'm not making a recommendation to Join Kinesis, - I'm saying if you want to find out, this is what I'll do for you.