Listen to our latest Investing Matters Podcast episode 'Uncovering opportunities with investment trusts' with The AIC's Richard Stone here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
A year ago I bought 20 blocks of salt for the water softener and it was delivered to the home for £82. Today I got the same 20 blocks from same retailer and manufacturer for £89 but I had to go and collect it. Call it 10% inflation. A year ago gold was $1779 per ounce and if matched the same inflation as a bag of salt it would be $1960. The inflation rate in USA is actually higher than the UK from what I have heard in price increases and more like 20%. At some point gold is going higher than $1886 or so from today. Its laughable that a bag of salt is inflated higher than gold.
On the other hand, gold was £1270 per oz a year ago. Now it's £1500 ish and has come off an even higher level throughout the year. It's high against the Euro and Yen as well.
You'll be pleased you hold gold when the monetary reset comes - probably the salt too. Just take the dips in the gold and Centamin price as a gift. Patience is the game.
Can only hope production increases, the sp has been in the doldrums far too long for my liking
The Central Banks are well out of their league now, the tide has gone out and they don't look too good in their cossies. The Oz Central Bank has had inflation thrust into their mouths, and still battle to find the real interest rate to try and engineer a smooth trajectory( to wherever).
We have rampant House prices, out of control debt (and why not ) and the govt legalizes 5% down on a house purchase?
Laugh a minute, hang onto gold
realize that gold deposits are very hard to find and harder to find all the time, and a lot harder to find than to mint debt.
LOL
the gnome
Hi Red Sparrow,
Lovely to hear from you again!
Well and truly buggered this share at the present,, so possibly as it's on it bum anyway it wont drop too far from here!
I'm going to fill up the bird feeders now!
https://www.youtube.com/watch?v=DruNGZN4X44
Hi Mr T
Yes, I'm afraid it's all back to normal for me now that Covid really isn't the end to all humanity after all. I thought I'd look in on the board to gauge the sentiment towards gold and Centamin.
Most of the precious metal miners have struggled; even Barrick's price couldn't get near the high that it achieved in August 2020 during gold's more recent rise. My prediction of $2000 for gold for last Christmas was a couple of months' out! Sorry.
I'm more sanguine on Centamin than many of the writers on the board appear to be, although I share the frustration. It's been good for the traders, though. I think we may have a bounce soon - people will buy in for the dividend - but then a pullback. After that, I believe the agony for those who bought in at the highs may be over. I'm expecting a very strong uptrend in the gold price that should push the miners up fast - eventually. We may get to £1440ish for gold first, though.
I know you hate TA, but I noticed that platinum is completing its seventh downswing from its Feb 2021 high! I mentioned 7 swings down when gold bottomed around the $1670 mark way back (you'd have to look back in Arfur_Uggins posts around Feb 2021). So, platinum appears to be just over a year behind gold. The $US is so very high and the Euro so low that I feel it's getting the traders on the wrong side. We'll see. It's just such a tragedy that lives are being lost because of economic and political failures. Again.
I'm glad the birds are still being well fed in your garden. The cherry trees have been netted in my garden this year, much to the annoyance of the blackbirds. I suspect they'll find a way through, though.
Let's hope we are richer and wiser come Autumn.
Take care.
Redsparrow...if you ask me this drop is a short closing event from the smart money...they know gold can only go one way now and need an orderly exit...as soon as gold breaks the ath it will be off to the races....in a way we will be perfectly placed as we'll be seen as a recovery play in a heavily rising market. As far as I'm aware our bad news days and results are behind us now (fingers crossed) so I agree I think we'll end up seeing a new all time high quicker than a lot think. It's just sound destroying being patient and waiting
Hi Red Sparrow,
Enjoy Black Bird Sam Lee https://www.youtube.com/watch?v=dDQMVFgRv10
https://www.youtube.com/watch?v=wHyAzxTfE7M
https://thenestcollective.co.uk/includes/singing-with-nightingales/
https://www.youtube.com/watch?v=SsSOlghiKpg
Best
Tibbs
Well, now! Does RedSparrow talk truth or speak with forked tongue?
I've been waiting for that £1440ish gold price for some time and, low and behold, the moment is here. It's £1426 as I scribble.
It's very difficult to predict a bottom to all this, especially with all the currency debasement. Scarily, I read that Martin Armstrong has suggested that gold support stands at $1345. Just who can mine gold at that price and make a profit?
I can see gold spiking down to around $1640, but with a weaker £, that may not take us down much. So a wild guess is to £1400ish. It will probably happen overnight (again).
I feel we are in the zone for at least a good run up here for stocks, commodities and PMs. Perhaps after the next FOMC meeting.
The markets, including PM's are having pull-backs that are corrective in nature (I can here Mr T sigh), and I've got a buying list ready. I must be patient; I must be patient; I must be patient.
There's still no hope on the western political scene. The WEF reigns supreme.
Good luck all - beware the tiger hunters.
X
I can even HEAR Mr T sigh again!
Hi Red Sparrow,
Fantastic to hear from you again and thank you for sharing your thoughts on where things are going in the market.
From what my contacts show me its clear where things should be going, although I fear that the FED, Central Banks, BIS and others will have different idea's, so no doubt corrupt practice in the name of political expediency will win the day!
You know summed up just how I feel about market terminology such as "healthy correction " 'healthy pull-backs" 'the market got ahead of itself" and all the other bullsh*t jargon used to try and give the impression of respectability to the manipulative system employed to keep the stock market merry-go-round around turning!
Look after that garden and the birds!
Keep well!
Mr T
So true, Mr T, so true.
For what it's worth, the Commercials are very happy to go long at these prices! It's just a matter of time for the turn.
It's another great opportunity.
Q2 tomorrow- all eyes at 07:00...