The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
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World’s Central Banks Buy $24,000,000,000 in Gold in Three Months, Setting New Record.
Central banks are in the midst of a gold buying spree, according to new numbers from the World Gold Council (WGC).
The organisation says central banks added $24 billion of gold, weighing 290 tonnes, to their coffers in the first quarter of this year.
That’s the strongest level of net demand for any quarter on record, using data that dates back to the year 2000.
The WGC says China, Turkey, India and Kazakhstan are driving much of the demand for the precious metal.
“Many have attributed central banks’ ongoing voracious appetite for gold as a key driver of its recent performance in the face of seemingly challenging conditions: namely, higher yields and US dollar strength. And despite the high bar set in the last two years, the voracious buying has continued into 2024 in the face of the renewed gold price rally…
Not only is the long-standing trend in central bank gold buying firmly intact, it also continues to be dominated by banks from emerging markets. Ten central banks reported increased gold reserves (of a tonne or more) during Q1, all of whom have been active over recent quarters.
The WGC says the previous quarterly record for net demand was set in Q4 of last year, weighing in at 286 tonnes.
The group says more data is needed to determine whether gold’s recent rise in price will have an impact on central bank purchases moving forward.
“While the recent price rally may have impacted trade execution, for those central banks that manage their gold reserves more actively, we do not expect it will derail any strategic gold accumulation plans they may have.”
Gold has moved from around $2,000 at the start of this year to $2,347
It was a great Midlands meet on Saturday, well worth attending. Thank you Rotherby for organising and thank you Bamps for sharing your knowledge and opinions. It was good to listen to the views of others (and the banter) face to face; I came away feeling hopeful, more confident and very excited for what's to come.
Best wishes and good luck everyone.
Hi Freddie,
There is a misunderstanding about POX here. Direct cyanidation methods lead to low recoveries cited here. POX has been used on large scales for decades by major companies (Barrick, Newmont, Anglo Ashanti, Agnico-Eagle) to treat ore before cyanidation. This oxidises sulfides to "liberate" the disseminated gold.
Key concerns around POX are higher capex and opex costs. Recovery factor at Hemi is above 90%. De Grey have planned a small POX circuit because their flotation circuit concentrates the gold effectively.
The payback on their raise is estimated to be less than three years and is a highly competitive return. Their AISC is low because it is not a complicated metallurgical process and it is a high grade mine (by bulk mining standards).
De Grey plan for first ore in 2026. It is not a long wait for a >500,000 ounce per annum mine.
Well blow me down with a feather Freddie. Make your mind up ! For as long as I can remember, you’ve put Hydro in the category of one of the biggest conspiracy theorists of all time, even rivalling Roswell ! Now you’re saying he’s now one of the good guy’s. I knew I was onto something last week when I posted “Freddie calling Orson, come in Orson”.
As they used to say at the end of Crimewatch "Don't have nightmares, do sleep well".
Night night Freddie 😂
I'll let him know when I get in the office Freddie cheers
A good post over on ggp by hydrogen re de grey mining and their new pox hub , petropavlosk spent almost 8 years building theirs , all be it with a cost restricted break in the middle of it . it was then taken back by putin before we ever new how successful it was , does anyone know the outcome and how successful it proved ?
The posters and readers of these boards are only the top of the iceberg, lots of investors in all areas.
Investors that attend social function like meets or a Town Hall with Shaun are only a small proportion of the posters.
Yes it was great meeting Investors from Yorkshire, maybe there will be more from Wetherby next time!!
Glad there's at least 2 of us from Wetherby awaiting the rewards of GGP!
Hi Rotherby. Glad the meet went well, bit too far to come from Southend, but maybe next time. ATB Speedy
Can I thank all that made the effort of making the Meet just south of Derby yesterday (11/5/24) a success.
I had no expectation and there may not have been a second one, but it exceeded my expectations
We had people from afar
North from Wetherby,
South from Malvern,
East from Gainsborough
and
West from North Wales
And points in between.
A very large geographical area.
If you have not been in touch to date but would be interested in the future, please get in touch.
While the location was very well received, there is the possibility of other venues to provide more convenience to any cluster of investors.
Thanks again.
Rotherby
ggpmidsmeets@gmail.com
Thanks Rotherby for arranging the meet up, I was made very welcome. A very enlightening meeting, hope we can do again sometime.
Nice to put faces to names.
Rob
Well done rotherby, great to see a nice gathering!
Onwards and upwards as they say!
All the best Ben
Thanks Rotherby for a great meeting. Useful information and chance to meet up other GGP investors.
Enjoyable meeting nice to put faces to names thanks to Rotherby
Thanks Rotherby for arranging a great meet up.
Was good to meet so many new faces 👏
Pottersfield another late shift at the public toilets i see , how many 2p’s did you get last night!
Maybe we should run a sweep stake, I’m going for 70p!
Ignore benrumpson. He is on Prince Andrews side.
Look at his previous posts and the proof is there.
Build a plant? Are you mental?
Https://twitter.com/robert_ivanhoe/status/1788599152869544380
We’re united in that Rotherby and you’re right it is one helluva team at GGP with true strength in depth - did anyone notice (worry) that our CFO departed? Fingers crossed the rewards for all Lthers and newbies comes to pass soon.
Have a great weekend!!
Red,
It is not only the BOD's, the management team are of such high calibre that most would automatically have a seat on the board as most company's development mining companies.
These personnel could walk into other positions, I would say tomorrow but it is Saturday, they could most likely make the call tomorrow (Today in WA now) and have a job on Monday morning.
There can only be one reason they are with GGP, and it is not the current situation, it would not surprise me if some are worse off with GGP, but know they will reap rewards in the near term.
Agreed Rotherby - there are some real egos assembled at GGP and not one of them would like to be associated with failure and would have enough experience to know whether they were joining a dog, or something on the cusp of real success. I am more comfortable because of the BoD in place.
I have to agree with you about BOD's, and it would not be the first time that have got the Board in place , it then removed the Managing Director.
I do not think that will happen here, Shaun has assembled a great board of directors and I think that it was getting Mark Barnaba on board that was the critical action and only after he was in did the others bits including Twiggy drop into place.
Shaun is the person that has brought this high powered board into existence, and they will ensure that GGP is a success, their names will only be attached to success, be assured.
Are you drunk or having some kind of break down? You're waffling on about nonsense!