Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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long may it continue and the UST 10yrs down nearly 5% wow...
5% or 150 basis points LOL depends on your chart LOL
As I said last week they are walking gold back down again for Fed hike bets buying opportunity or not, you choose.
No Halfpenny- you said that when gold was ~1694- it's up since you made your statement on this last Weds night.
halfpenny
$ dominanceWed 20:37
Looking like gold will be punished until at least tomorrow week ffs
You write some foolish nonsense SJ.
My money is on pog seeing strength in the later part of this week so let's see who's right.
See FT piece on gold miners today, Newmont just reported near 20% inflation in costs, near halving of profits, however their aisc is still$300 below ours, the FT sees gold falling considerably further as rates continue to rise, hitting miners hard. I think Halfpenny is probably right and first there should be an immediate bounce, then I expect the FT is right about a sustained further fall which should bankrupt some high cost weak balance sheet miners, but Cey should ride through to new gold highs as long as it keeps the balance sheet strong now, which means not paying a dividend that is more than earnings, Imho
Hang on Farthing I just correct your nonsense, you don't half contradict yourself with your drivel. Now your reversing your prediction! Now let's see who's right? Lol, since when did I say which way gold was going? I merely corrected your incorrect assumption- I'll repeat, less hawkish FED is good for gold and reverse is true.
"Zimbabwe's central bank has launched gold coins in an effort to help curb soaring inflation amid a slump in the country's currency.
The central bank's main interest rate was more than doubled this month to 200% after the annual rate of inflation rose above 190%.
Each coin will be priced at the international market rate for an ounce of gold plus 5% for production costs.
As of Friday, an ounce was worth about $1,724 (£1,435).
It will be possible use the coins in shops, if they have enough change, according to the governor of the Reserve Bank of Zimbabwe, John Mangudya"
https://www.bbc.co.uk/news/world-africa-62298319
They can be used in shops if they have enough change. Oh boy that’s a good one! The average retailer here goes into a meltdown if they see a £50 note, can you imagine the reaction of slapping one of those bad boys down on the counter ??
Yes the Zim story is a very interesting story which I have followed very closely, and sometimes too closely. It is a tragic reminder of the failure of democracy, the failure of the Kimberley process [diamonds], the failure of intelligent people to build a sustainable future in a land of abundant natural resources. It is the tragedy of what happens when trust walks out the door of a nation, and ideology and empty rhetoric walks in.
The gold coin? Great if the value of the gold is the content of the gold, but what is the "arbitrage" on the difference between the value of the contained gold, and the value of the coin which it is contained in (recall the debasement of currency at the back end of the Roman Empire some 2000 years ago!). Who measures the content of the gold, when trust in the government has departed? Who certifies the content. Really it is the lurch of a government who ...knows not what they are doing. The smart Zim which are a large part of the population smell a rat...or at least the room for a rat to nibble at the their assets.
Governments and agencies in so many nations, at all levels are falling over themselves to talk the language of inclusiveness and openness to community feedback and rising expectations of government service {I picked up a new sticker it read...."AM I INTERUPTING ANYTHING IMPORTANT?...IMPOSSIBLE I WORK FOR THE GOVERNMENT"]. Trust and transparency are supposedly the new currency to gain community acceptance, but unfortunately as noted above, trust in the governments walked out the door a few decades ago.
Make sure you convert your paper promises into real assets, and bunker down. It will probably be a cold winter for many
best
the gnome
So the printing presses turn, money appears out of trust, but trust has left, but ... the printing presses still turn. Like a boxer who has been hit onto the ropes too long, too many fights, which he has lost most, but won enough to keep him coming back. He doesnt know what new to do, nothing esle in the kit, so he goes into the ring, to repeat his folly, and lose again.