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So Basel 3 will bring sweeping changes ?
Looks like LBMA are sticking two fingers in the air, whilst blowing a Raspberry.
lol.
Yes Mr Bond. It is looking like that. Hopefully things will change soon. I read the board and have done for years. I remember "making hay" seeming to trade very well but then missed th rise from aroung the mid 50's all the way up over £2. (Wish Id sold a pile then and kept my nerve to get back at these prices).
Andrew Maguire has been banging on for years and hopefully he will be proved right soon! Kinesis doesnt seem to have made much difference either.
I wish had the money that some on here do to "Top up" every time the share drops and the foresight to sell when i have "made a nice little profit" .
I remember D. Ryan a few months back (who i think did get in and out quickly with a profit) saying then that he expected £1.30 in the short term, from the price then of around £1.10.
And who can forget Sotolo's call last year , around this time of reaching £3 soon??? :-)
Hopefully the current call will be as wrong and we will get the rise.
The amounts of debt are mind blowing and you would think at some point gold will take off? Maybe , a bit like in the Hitchhikers guide to the galaxy , we will adopt the leaf as currency and burn forests to stop inflation? I HOPE NOT!!
I like your analogy Paul ,ha ha a leaf and getting rid of inflation.
Very funny.
Basel 3 looking like Basil Fawlty ,at the moment.
GLA.
The price action for the $US doesn't suggest to me that it is about to have a huge rise at the moment, which would make gold sink below the recent lows. We may get a short dip in gold, to $1750 ish perhaps? and then a decent bounce at least to $1820s. Silver isn't suggesting it's about to sink either, so I reckon the spivs are getting ready to load up on miners, for the short term as a minimum. Centamin a buy at £1, maybe? Unemployment figures for the US on Friday could be the catalyst for a rise. A bloodbath phase for mining stocks is being manufactured here, I think.
Basil Fawlty - don't mention the Germans.
Redsparrow
The other possibility is for gold to put in a higher low just above 1762 either today or tomorrow. I suspect heavy Chinese buying of gold on Thursday when a new monthly trading book opens up in Shanghai and we start H2. I could be wrong, but will at least know for sure in a few days.
Yes, Tony, that's very likely too. I keep coming back to gold's 'correction' in £ terms from the August high last year. It's a perfect ABC move. Since the bottom, the first leg could be over or this is a 4th wave before the final 5th wave higher and then another 3 waves down - for wave 2 and then a large 3rd wave up.
https://www.bullionbypost.co.uk/gold-price/5-year-gold-price-chart/
The worry is that I think tech stocks could be about to reach escape velocity and go vertically upwards. Once that crashes, does it bring everything else down? At the moment, I'm looking at a 3 waves move upwards for the $US from its recent low, with a corresponding 3 waves down for gold - maybe reaches $1700 after a nice climb up from here?
Having said all that, I've just had to shoo 6 magpies off my damson tree - they were upsetting the blackbirds. I believe it's 6 for gold? (Magpie TV programme from 70s). That may be a better indicator of what gold will do in the near term!
Hi Paul,
Good to hear from you again,
Don't get to disillusioned, difficult at times I know , but don't forget one can be whomever they desire to be on here and indeed claim great trading prowess and the success of getting in and out at just the right time!
But hindsight is a great thing, in reality if some were as successful as they claim to be then wouldn't they have been sailing off into the sunset by now, rather than attempting to portray themselves as market guru's on here?
In the end all the chart's and algorithmic trading programmers are as dependable as a chocolate teapot, in fact the best use for the charts would be stuffed down the trousers of some poor old down and out sleeping rough in the doorways of the City, at least that would keep somebody warm!
For those of us that are genuine admit that we have been taken for granted in the past by a lazy complacent manegment team nice and comfy in their Jersey board room and that our trousers were taken down by the past deceptions and professional ineptness of Andrew Pardey and the former Egyptian policeman that due to family nepotism and rather than professional aptitude was appointed general manager of Sukari!
Market experts aside, it is apparent to anyone who is honest enough to admit it that the market's indeed the worlds financials systems now so corrupt and blatantly manipulated to such an extents that that they no longer abide by any regulation, or indeed conform to any what may be cliamed as logical movement or behavior, they are simply and openly manipulated which ever way the Cartel wants them to go!
We are powerless and certainly now any right or wrong decision we might make is down to the sheer luck of the spin of the corrupt casinos wheel or the throw of the weighted dice!
Hi Red,
Glad you are looking after the Blackbirds, although the Magpie's in many ways remind of those that manipulate the markets!
Don't take this the wrong way, but when you think about it all these charts and trading programs/predictions are based around artificially suppressed prices and manipulated markets of the past.
How can a gold chart be relied upon as being accurate when it isn't really an indication of the true or fair value of gold ,but an indication of the exchange some physical bullion and the majority being of paper gold contacts traded in the past?
Just like paper dollars the supply of paper contracts its seems s is limitless,where as in comparison the supply of gold bullion is limited by its physical availability!
I wonder how many shoppers would be content if their 2.5kg bag of potatoes was made up of 1kg real potatoes and 1.5kg paper potatoes, or when they shop on line if instead of receiving a 4kg chicken 2 kg was real chicken and the other 2kg was a paper contract, this difference of course wouldn't be reflected in the charts of potato or chicken sales !
I am not invested here...just to clarify things.
My is just a general comment on the sector, I see a lot of inverse correlation between the dollar and the main indexes.
Meaning that when the indexes go up is risk on and when the dollar does up indexes go down and is risk off. The question is where gold fits in this relationship. Historically it was very much inversely correlated to the $ but more recently imo it lost this rapport and is now in the limbo, exacerbated by the event of cryptocurrency. All this to say that today even more than anytime if investing in gold sector imo is paramount to look at the single companies fundamentals, including geopolitical risk, cost of production and diversification of assets.
Of course it's easy to forget these AU PRICES, are based on paper prices.
It likely, lot this is being off loaded to traders ,who think they are in for a quick profit.
They will be in for a nasty surprise.
There is really only physical prices, for coin or bullion ,that matter.
This off loading will continue now.
IMO.
Hi Mr Tibbles
Sorry for not getting back earlier but I've been out this afternoon.
Charts - that's why I put my magpie reference in. It's also why I tend to drip feed money into a share. That way I don't miss any rise and if it falls, as Centamin has done since my 107.36 buy, then I'm not down too much. I do get a sense of where the price of gold will go by looking at charts but finding the tops and bottoms is beyond me. I do look to see if the crooks bring about bloodbath phases and other little tricks to guide me. I see gold got to the $1750 mark today. Does it rise now to the $1820ish level or higher? Let's see.
I don't follow football but I see England beat Germany. Well done England.