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News & Analysis
Buy Gold ‘Right Here and Now,’ Top Wealth Manager Says
By Bloomberg - Mar 20, 20204
(Alliance News) - Highland Gold Mining Ltd on Friday said its mining and processing plant operations, as well as its construction projects, have so far avoided disruption from the Covid-19 outbreak by virtue of their remote location.
TSG also announced similar guidance today. Note the following applies to us:
"Current events have resulted in material changes to commodity prices and foreign exchange rates, which are expected to impact positively on the overall profitability of the Group. The Company's dollar-denominated revenue from gold sales remains strong in a supportive gold price environment. The recent oil price decline is expected to considerably reduce the Group's energy costs, and the connected devaluation of the Russian rouble is equally anticipated to contribute to overall cost improvement, as the majority of the Group's operational costs are rouble-denominated."
At a time like this the quality companies will shine brighter. Encouraging measures adopted by this one, leading the field in terms of response. With the company operating in such a remote part of the country it has yet to experience any disruptions and I'd expect sentiment to reflect that when compared to say CEY.
Mine employees and drivers at Highland Gold's operating subsidiaries already undergo pre-shift and pre-trip screening upon entering the workplace as part of a ground-breaking health monitoring system implemented last year. Special diagnostic equipment measures a range of parameters such as temperature, blood pressure and heart rate, with those exhibiting health issues restricted from work and others at risk identified for future monitoring.
1st gold pour at Kekura. Comparatively safer than HOC in light of their recent mine closure.
18/03/2020
Gold
1,499.75
-26.05-1.71%
Several smaller goldminers saw decent rises today.
AZZ / CEY / PAF
HGM looks ready for a move north, does anyone with a more in depth knowledge of the Co. know why its lagging atm.
Cheers
G
Fed just announced they will support commercial paper market to help restore liquidity in the market and stem the outflow of capital. The Fed’s interventions could thus help avoid a repeat of 2008 when money market funds “broke the buck”
Suddenly up to $1537. Could be a reaction to the ongoing stimulus packages that are being announced. Can't see anything new on reuters
Gold
1,516.95
+30.45
Gold bouncing back this afternoon
When margin calls reduce, it looks the place to be.
HGM coming off today's lows also.
G
Absolute carnage today! Should have sold the entire lot last month. Everyone is taking on more debt so perhaps the answer is to take on debt and deploy it into gold stocks once gold confirms the next major uptrend.
Gold over 123k rubles / oz. This will considerably improve profit.
https://www.youtube.com/watch?v=8Lm8ujv_YpQ
Bill Murphy, co-founder of the Gold Anti-Trust Action Committee. 15 mins
Echo that, Bingo - this has been asleep for quite some time, while gold has been on a bit of a tear, of late, so some catching up is well overdue; maybe that's starting to get underway now...
Also agree about the much higher AU price now applicable to comfortably accommodate the anticipated increase in capex - the next figs. should be good enough to see the sp regain the previous 'high', at least, I'd have thought - sasa.
Been switching more of my funds into HGM. This situation is not going to be resolved quickly.
In commodities, gold was quoted at USD1,670.63 an ounce early Friday, higher than USD1,658.87 late Thursday. Brent oil was at USD49.63 a barrel, down from USD50.91.
"After last week's big drop, gold has staged a sharp rally and looks set to break to a new high for the year. Investors are ignoring concerns over physical demand for the precious metal and instead concentrating on its appeal as a safe-haven commodity," said TradingCandles analyst Fawad Razaqzada.
Typo 112.4k rubles
Gold up to $1,667 / oz or 113.4k rubles. Up over 3% today. The US have started to buy gold big time.
When we get final results this should jump with production up by 12% and average price per ounce up by 11% since last year end only fly in ointment cap ex to rise for new mines but gold price now even higher than the av for 2019 which was $1395 so should be well covered.
1,635.70 +40.90
Gold
1,610.75
+44.05+2.81
Gold
1,598.45
+31.75+2.03%
Reportedly - now there's an interesting one. It started 20 miles from Wuhan at the BSL4 facility when they accidently let out bats carrying covid-19 and control bats carrying bird flu. Hey presto plagues of both. the world doesn't want to play a blame game so lets start by switching the terms to "reportedly". Before you know it they'll be saying it started in the jungles of Vietnam. They can say whatever they like - if it smells like it, tastes like it, looks like it, and was found outside a kennel that says "it" made here - it's "it"