Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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@downbutnotout Never seen this site before. Maybe not a good idea to keep on looking at them. IF you think they give out a bad omen.
@astro
https://www.britishbulls.com/SignalPage.aspx?lang=en&Ticker=FRES.L
@downbuynotout Whos british bull?
british bulls gave this the kiss of death yesterday with a BUY signal.
@sharky1975 you been watching too much PM youtubers "GOLD and SIlver 4X this year !!!etc" :). Don't worry i was sucked in by them too...
If goes sub £8 I'm selling my granny, no wait I already did..
Don't really know what the problem is here, quite a few goldies now just starting to gain a little.
I am just wondering whether to add a few more at 808 because it could change a bit this afternoon.
Yeah noggers, the drop must be related to Morgan Stanely lowering their price target to £8.90. Sentiment in the PM sector has been pretty bad all year as well. Just hope that changes soon because my portfolio is full of PM miners!
drop lowest i seen since investing to this SP. anyone going add into the dip?
You can get a fantastic trading update but if the market doesn't like it they will bring it down, and 9 out of 10 times they always seem to do.
So is it fres company performance issue not gold price causing SP drop so much? polymetal and centiam didn't seem to drop so much?
We seem to be living in clown land. The Aug update should show massive progress on financial performance, but the SP is acting as though there is big trouble ahead. I guess we will find out who is right and who is wrong in 6 weeks.
Morgan Stanley cuts target price to 890 and equal weight, maybe that is why we are dropping so much today.
1 step forward 2 steps back.
Also QE will be continued under the guise of many different titles in the US for much longer, again fundamentally weakening the $ in which case US indices will keep rising and the $ falling albeit with bumps along the way.
PMs are finite while fiat is infinite, print twice as much fiat you'll need twice as much to purchase the same amount of PMs, unless you can create fiat gold/silver contracts from nowhere to manipulate the PM prices. What's been happening over the last few years is an ever widening disconnect between the manipulated paper price of PMs and actual physical, while these contracts weigh on the price of physical they are having less impact as confidence in fiat currencies erodes. Six years ago you could buy silver barely above the AISC of most miners, now the premium for physical silver over spot is around 50%, there's effectively a 2 tier pricing structure one paper and one physical and the market for real Ag is very strong right now and that will be reflected in our results.
Regards
Caino
I think it was Jim Rikkards who said when the US weaponised the dollar via sanctions via swift they sowed the seeds for the end of the dollar as the reserve currency. But short term idiot politicians like a thug in the street reach out for any weapon they can find ! A thug in a suit is still a thug
What you are forgetting is the US total dishonour(quelle surprise !) in dishonouring their agreement at Bretton Woods to sway the vote to make the dollar the reserve currency. They say the dollar is the best of the fiat I say the opposite as it has abused its reserve currency status and reneged on its commitment. It has effectively being getting a free lunch all these years...other countries need to sell goods or services to get dollars to buy dollar denominated assets....the US prints the stuff for the cost of the paper....they are a country of no shame. As the native americans found any agreement will be reneged on...as the iranians found out as well.. they are simply a country of total cognitive dissonance.
Now I know there has been no audit of the the US gold but i am curious....as they can print dollars to infinity ..surely it would make sense to see the russians and chinese building up gold reserves...and the US can literally exchange paper dollars printed at will for actual gold....mined and refined at great cost.
I am very curious about this but logic where the US is concerned often does not apply as many in power are literally idiots. It's quite clear dollar hedgemony will end some point soon withing decades 1 or maybe 2....if they don;t have gold their only way out would be theor war machine...but that to my mind is rendered neutered because their counterparts are too strong
Maybe so but when a vast economy like Russia made it known that they are dropping the dollar be certain that other allied countries will follow. USA not the economy it once was money now flowing to more amenable countries. Dollar heading back to .6 or even .5 this year imho.
The point is not one of investing in El Salvador. It is more about faith. Faith in something that the government can't deface like bitcoin or gold. If enough countries start trading in Bitcoin, then more and more will join in if you want to trade with it and don't want to use USD. Plenty of countries are sensitive about trading in USD such as Iran, Russia, etc.
I agree with your view that everyone is now practising currency defacement so it doesn't really matter but with the scale of money printing going on in the US, I wish someone or something could call them out.
effectively what the journalist is saying that while Fed say they would raise rates in 2023, market is saying that they won't be able to. So the only question that remains is that what will it take for investors to finally take stock of gold? Surely with all the money printing that is going on, USD can only go one way? It is only high because we still have faith in it? When will we start peeling away from it? El salvador has taken the leap to Bitcoin and I wonder if others will follow suit?
Powell speaking. little change in pm prices. DOW up quite alot though.
Real inflation in the US is running at over double that at about 12%. They're base rate of zero is about 10% and the Fed know it. It's been running at around 10% for years look at education fees and health insurance for example that's up well in excess of 2% year on year. The whole things a smoke screen tweeking rates is meaningless, just wait and they'll be telling us they're in deflation. It's same old same old as it's been for years now. It's total crazy crap..
A little excerpt below from a financial journalist on the recent gold price slide. I think this makes good sense and provides and understanding of what is going on:
The gold price wasn’t the only thing on the move. Remarkably, long-dated US bond yields fell as the Fed announced it expected to raise interest rates earlier.
This is an odd combination. The threat of higher interest rates in the future because of inflation should not lead to lower long-term bond yields…
Both rate hikes and inflation should raise bond yields.
Thanks to the moves, the gap between inflation and long-term bond yields widened to the largest since 1980.
Investors are buying bonds that pay 1.5% in yield while inflation is at 5%...
Again, this should be the ideal world for gold. But the gold price plunged.
A possible explanation is that financial markets are already pricing in a future crisis triggered by interest rate increases.
It could be that they’ve grown so dependent on excessively low rates, and so accustomed to rising interest rates triggering crises, that the threat of higher interest rates from central banks was enough to cause a panic.