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Goldman Sachs forecasts that gold prices could top $US1,850 an ounce in the near term if the outbreak of COVID-19, the infectious disease that reportedly originated in Wuhan, China, can’t be controlled by the second quarter.
Gold up to 110.7k rubles/oz. Up over 5% today.
The price of gold has surged to its highest level in seven years as worries about the coronavirus led investors to seek a safe place for their money.
Gold prices climbed more than 2% on Monday to levels not seen since February 2013.
The price for immediate delivery went as high as $1,678.58 an ounce before falling back slightly.
Reuters news
Shares drop, gold surges as investors scurry for safety
More significantly gold up to 109.6k rubles /oz, or up over 4% today. The alarming spread of COVID-19 in South Korea, Italy and Iran, is driving this IMO.
237.80 GBX +8.20 (3.57%)
24 Feb, 08:00 GMT · Disclaimer
looking for another good day here
You can get this when it goes into auction. Happens on big swings.
Maybe it wants you to get a better price tomorrow!
Getting this message "This security cannot be traded online as a market order at present due to current market conditions. Please attempt the order again as a market order, or place as a limit order"
Why would it do this?
Gold over 106k rubles/oz, or $1,646/oz
Yes that sounds right, quarterly results a couple weeks after that. Last year we rose into this period when gold was trading between $1290-1320/oz. I'd expect to see at least 20% from these levels in the coming weeks.
Gold flirting with $1650/oz
i think next news is full year results in April if not wrong.
Good reasons to keep buying here and other well managed gold producers. Hold for the quarterly results and subsequent market rally.
Average volume 741.81k
Shares outstanding 363.90m
Free float 204.58m
P/E (TTM) 14.56
Market cap 794.31m GBP
EPS (TTM) 0.1499 GBP
Annual div (ADY) 12.40 GBX
Annual div yield (ADY) 5.83%
Div ex-date Dec 19 2019
Div pay-date Jan 17 2020
Data delayed at least 20 minutes, as of Feb 21 2020 09:44 GMT.
HGM next target is 249.60 ,i think it will get there sooner than later .
Gold now up to 105.1k rubles /oz or $1633/oz
and the share price is going up
224.00 GBX +6.40 (2.94%)
21 Feb, 08:13 GMT · Disclaimer
i have seen many people chasing shares of a companies without any income , i think they should buy HGM ,profits,dividend money in the bank what not to like. nice.
In H1 2019 operating profit was $57m, at a gold price of $1,308/oz, on production of 142k oz.
If we achieve an average of $1,608/oz in H1, 2020, that could roughly add $42m to the operating profit, an increase of over 75%.
Now extrapolate the share price during H1 2019, which was bounced around £1.60 to £1.65. An increase of 75% puts us in the range £2.80 to £2.90.
Now add in forecasts by pundits that we will go over $2,000/oz in the next 12 to 24 months, and a share price exceeding £4 during 2021 is quite possible.
Some assumptions have been made, and this is a very crude estimate. It hopefully demonstrates the potential though.
DYOR
A lot of algo sell action still going on.
Why would anyone be selling here now ? We should see the yearly high being attacked again before long.
Gold just topped 104k rubles/ oz
yes you are right mate ,HGM share price will be 250p soon, again.
Gold now at the highest ever price in Rubles / oz. Also rising strongly in all currencies including USD and GBP.
Yes, a share that provides growth and an excellent dividend are rare.
Echo your comments on both HGM and POLY, rylidan - if gold embarks on a tear from here, POLY should do especially well, as it's the ONLY gold miner in the FTSE 100 right now and the Instos / trackers, etc., will have to go there for exposure...
These two are my favourite picks in the pm space, fwiw and their decent divds add to their appeal, of course, in this low yield environment - sasa.