Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Interesting day(s) ahead.
Chartwise, trend is in place but Gap could be filled with a drop down to 23.1 or support at 23.7.
FTSE is opening 100 points down and we've all seen how PAF can rise and fall with the general market tide.
However gold is still at record highs and PAF are raking it in.
IMO we're for another drift&consolidation before another leg up but I wouldn't bet loads on that.
Here's Gary Savage on market movements, https://www.youtube.com/watch?v=rN5OwNXXV1o
(He's been correct many many times hence how he has subscribers but saying that, he's still clearly not retired yet and believes in conspiracies due to his maths being poor, go figure)
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Question to investors on the forum. What is the portion of your portfolio in PAF? I try to keep it in the range 25 - 35%.
Gold trading back up to near record high at time of writing ( 8.15pm) - no real surprise, but the dips
https://tradingeconomics.com/commodity/gold
Seems decent value and bought some today for exposure to rising gold price.
Gas fee wait till the financials come out, we will see a huge leg upwards esp with Mintals around the corner, I’m not selling a share till we are in the 50s and I been riding this since 13p so well in profit. This is too cheap at these levels and current gold price.
Gold price had a profit take yesterday during the US opening, price went from the crazy highs of over $2400 back to the ridiculously high $2342. I was out in the world not watching but I guess the enthusiastic demand shown at midday eased off. That slice at 24.7 was good. I did one the other day at 23.5 (a limit order that I'd forgotten about when the price was around 18p executed) to buy back in at 23 the following morning. If PAF does retrace it might only go back to 24p.
IMO this rush isn't over. Gold miners have now well and truly appeared on investors radars last week. Any news release with an update on January to June H2 progress , we expect phenomenal figures.
"The bottom line is gold is extremely overbought today, warning of high risks for a sharp selloff. But even after rallying so far so fast, this powerful gold upleg still looks to have lots of room to run. Mostly fueled by big Chinese investment demand so far, gold-futures speculators have plenty of buying firepower left. And the American stock investors who drive monster gold uplegs haven’t even started chasing this momentum yet.
Though gold miners’ stocks are starting to catch up, they have greatly lagged gold’s big gains. That has left gold stocks anomalously low relative to gold, not materially overbought. But traders are increasingly returning as bullish financial-media coverage grows awareness. Deeply undervalued compared to gold, the gold stocks are likely to skyrocket again in another huge upleg like the last time gold achieved new records."
https://www.mining.com/web/gold-miners-overboughtness/
https://www.cbsnews.com/news/gold-investments-that-could-pay-off-with-inflation-rising/
https://www.sharecast.com/news/risers-and-fallers/ftse-250-movers-gold-miners-shine--16591650.html
Tangible Gold. Gold's impact in a bigger picture involves who owns it, the USA at Bretton Woods in 1944 had the reserves and could call how the future would be i.e. the Dollar was backed by Gold. Being a reserve currency bestows many bonuses. Russia is actively trying to reduce trade using Dollars. China resents the Dollar's reserve currency status and the free gifts that it bestows, such as exporting its inflation. China despite its statements re owning only 2,000T of Gold probably has around 30,000 T looking at past purchases and their own production which is not available for export. Gold is where it is at when the day ends.
Sliced today and sold 152,833 shares at 24.7572p. Nobody can predict world events and there's been a hell of an upwards run, so its probably prudent to take some profits. Sliced a few of several other Gold miners today; with the thought that a retrace may bring a dip worth buying into. Who knows what will happen?
well if ****coin - which has no intrinsic value at all - can go from $5,000 to $70,000 then why can't something real and tangible like gold?
I can see actually investors been suspicious about this meteoritic rise....
Thing is gold as asset can freely double from here without causing any major impact on economies, not like oil or ather commodities...
This is silly gold future at 2443 and climbing ????
Index up or down, USD up or down CPI.....Noting is stopping it.
Any retrace is short lived FOMO is here imo.
Earnings upgrades in order.
Those selling here are doing so with shares only trading at 3x forward earnings.
Question is can this repeat what Sylvania Platinum in 2021 when rhodium prices shot up as gold is doing now.
The thing is with miners not Truely following the gold share price is that the miners are an unloved sector that have struggled for a number of years. Wages and energy cost are high etc. But when updates come in with higher profits because of the high gold price investors should start to notice.
For me this is a long term hold off 5 years or more. I only see gold getting higher in time but with a small pull back and consolidation. I’ve loaded up in the last year to take advantage of the high dividend which has already returned 10% of my holdings. If people think the current gold price is good, wait 5 years and wonder what profits Paf will be making when gold is above 3000. And in the mean time, as long as gold stays above 2000 paf’s profits will still be good and the dividend will rise with the profits.
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Hold..I just got an instant quote to sell £100,000 worth ! An extreme amount for me.
These shares are in demand.
At these levels, with Mintails and post tax.
P/E still only THREE!
Its amazing to see POG going so high and the producers lagging behind but that's the way it was the last time there was pm bull run
Just looking back at passed comments, well done all those who held n added from the darker days of 12p , Mulder ( 7th Aug) PatryK ( Cheap ) and Elias Jones ( golden cross), for me I will have to be content with pittance of a freeride n dividends...atb
PAF profits at current gold price should be huge! This will take off pretty quickly after quarter news!
Have to admit didn't expect POG to make this push higher after CPI....This is going to take everyone by surprise, and what about if at this rate we go past $2500 psychological levels?????
Then the sky is the limit, and lost of FOMO taking place.
Not saying will happen but at this rate....
Resistance broken at last. Great end to the week!
Sector due a rerate or is it happening?
“ According to Business Insider, gold miners experienced their best performance in a year in March 2024. During that month, the gold mining sector outperformed all other U.S. industries, surpassing even the performance of semiconductor stocks.
Still, physical gold has outperformed shares of gold-mining companies over the past three years by one of the largest margins in decades.”
https://elements.visualcapitalist.com/gold-price-vs-gold-mining-stocks/?utm_source=VC+Elements&utm_campaign=e67df38863-VCE_Email_APRIL_09_2024&utm_medium=email&utm_term=0_f3fdb4328c-e67df38863-47046010
Trek
Bang on BlueD The East is driving this
Forward P/E down to 3 now?