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Hi All. The recent fall is engineered by the banks to get ready for the Basil111 rulings in June 2021 for the world and 2022 for london. ETFs will have to hold real gold, COMEX traders will have to have the gold to sell. The paper markets will not be able to bend the game. If you do not understand what is happening do not worry most "experts" do not either. The POG/S is being depressed to allow the bullion banks to shrink the derivative trading positions in PMs. London (LBMA) has a massive problem with contracts being settled in physical metals with a tight market for physical. This will not end well and if you are thinking of preserving your wealth with gold/silver it is best to do it now not later. This is excellent news for our SP going forward. ATB Speedy
Speedie the gold price is getting smashed because bond yields are rising. Traders are selling gold because they think that rising bond yields signal high inflation, they are pricing in the FED raising interest rates, which should will then strengthen the dollar.
The FED can’t raise interest rates because it will cause the house of cards to collapse and the FED knows that, but traders haven’t worked that out yet.
When traders and investors work this out and they realise the only thing the FED can do to stop bond yields rising is by upping its QE programme, that is when the price will fly.
It has little to do with short positions..
If gold breaks the lower trend line, which it's playing with now, it could be a big, sharp fall. I've seen $1350 on a few analyst vids on YouTube but they all say the same thing that it will be a third wave correction and then there will be a monster re-rate.
BUT.... If it stays in the range its in now for another week, then it's on the re-rate next and the market won't be able to hold it back as their squeeze will collapse.
I'm no expert, just watch what I can. It's held all week, so looks ok at present.
Spy - GGP as you know will not be getting any significant gold at the ground for at leat 18 months so the gold price doesn't bother me ...I dont own any gold coins - only stale chocolate ones left over from Christmas :0) - But agreed the PM market will break out out and when it does - most experts believe it will be a massive bull run! GLA
Sorry should have said I am holding some digital currency as a hedge! GLA
Andrew Maguire Explains Gold and Silver Manipulation on COMEX
https://www.youtube.com/watch?v=bKLQGJ_GGZk
I seen 1600 but nothing lower, but they have also said to expect it to drop and then a massive upturn to new highs
Speedy I retract my statement
There is a plethora of reasons gold is dropping in price. But we also all know that there is a plethora of reasons why gold will and should be rising:- when will the tide turn
Get your head around POG 'Smoke & Mirrors' ,all done deliberately of course in order to shaft you.........:O)
However, gold investors are slowly learning via education etc, thanks Speedie!
https://www.youtube.com/watch?v=YGjagnwc7Wk
Anyone have any views on how low this my go. Gold prices still tumbling, at what value will the mine become uneconomical.
Gold is always a safe haven when the economy looks bad, it’s going to be a sharp economical progression now so it’s possible there could be a sharp fall in gold price
I think the more pertinent question is how much lower can this board sink? Thanks to you and all your de ramping mates trying to spread project fear Joey.
Joey,
I'd assume this is why NCM have used the very conservative figure of $1400/Oz in their calculations surrounding the MRE.
It means these current gold price fluctuations have no impact on the economics of the mine. If they had used $2000/Oz in the calculations that would be a different story.
Either way, even at current gold prices there is upside to the calculations used. If gold breaks out as is being suggested then there will be huge upside to the calculations used.
oilMonkey that is exactly right if they uses 1800 and now its dropped below they would look unprofessional and in a way any one that uses current gold price to justify mining the gold you want to be cautious of. This is the sensible way to cost and justify to go ahead to mine and tells you there is no doubt they will mine. GLA
I'm really not sure how many people understand the economic disaster that the world is facing .In my view as I have said before -world debt is horrendous - a couple of trillion dollar QE is not going to make a dent in that .The massive personal debt is different -not borrowings to invest ,make profits and payback debt but for survival,food,rent, mortgages and then for some who cant afford them ,pandemic rebound holidays/cars etc .unemployment hasnt really shown its ugly head -YET .In this country the NHS is on its knees -staff are drained, some will leave , mental health in the nhs staff and population at large hasnt surfaced .people who perhaps could afford to spend -wont -fearful of the future -UK for example is a consumer society - if people choose to re-evaluate their lives and not spend on things that arent essential then the economy is in big trouble -you can have as much QE as you like but if people dont spend it and banks wont lend to those they consider to be bad risks then the economy wont recover - it is a case of when will gold price rise not if - that is the key question and with china /russia etc buying a lot -economic battles on ahuge front could happen -and fear is a great incentive to buy gold
This is the Basel III 2021 ruling Speedy is referring to.
https://kinesis.money/blog/basel-iii-rules/
Andrew Maguire believes that central banks will be able to pay off massive swathes of debt by revaluing gold. According to the precious metals expert, gold would not only act as a cash asset, but would also behove central banks to revalue the dollar price of gold.
What does this mean for the gold?
Andrew Maguire believes Basel III rules will lead to a sanctioned gold reevaluation, while ultimately driving a more physical market. In this week’s episode of Live from the Vault Andrew Maguire looks at how Basel III rules will affect the price of gold and reveals the level at which he estimates the precious metal will be revalued.
Agree OM, but if the POG continues to drop and some say to 1050 usd oz before taking off again in the bull run, NCM will want to push ahead even faster to have the ore ready for processing so Telfer gets the benefit much sooner. Ciao DM
Hi Bancal if gold is revalued to 20000 uds oz then all world debt is covered, revaluing gold basically devalues all fiat currency thats why FDR did it in 1933, dollar devalued 60% and paid all USA debt off especially as he bought all the gold first off the population before the revaluation. Ciao DM
Came across this video yesterday , about an hour , but worth a listen if you have time .
Old hands here probably already watched , but I'm catching up fast .
It was only half way through that I realised it was recorded in 2016 .
Everything he is saying then becomes almost prophetic - uncanny .
And as if we didn't already know how things get engineered...
https://www.youtube.com/watch?v=WmuiAY2WiIU&t=2701s
Nice to see the sp holding up well as NCM did today. And breathe.........