Pan African Resources Share Chat (PAF)

Gold seen hitting $2,850 as further rally expected

Further gains should be on the horizon for gold and oil prices despite recent rallies having hit the brakes, according to UBS analysts.

Analysts from the bank forecast gold to hit US$2,850 an ounce next year, which would see the previous record around the US$2,680 mark smashed.

“Geopolitical risks are here to stay and will likely keep a risk premium in the prices of both commodities,” analysts from the bank said in a note.

“We also see fundamental factors that should guide both oil and gold higher in the coming months.”

For gold, demand ahead is expected to pick up as central banks continue to wind down interest rates.

Ongoing buying by central banks should also buoy prices, according to UBS, alongside a seasonal recovery for jewellery purchases and Chinese investor interest.

“Uncertainty around the fast-approaching US election should support the bullion” too, analysts said.

https://www.proactiveinvestors.co.uk/companies/news/1058076/gold-seen-hitting-2-850-as-further-rally-expected-with-oil-analysts-1058076.html

Zijin Quote:

“After study, the company is of the view that under the current and anticipated future gold price conditions, the project’s utilizable resources and reserves still have significant potential,”

The Chinese sound very confident about the gold price. I wonder why? :)

"https://www.mining.com/web/chinas-zijin-buys-ghana-gold-mine-from-newmont-for-1-billion/"

Huge buys after hours every day, either the funds are loading up or this is going to be taken over soon…:)

Good to have these regular dips so as to top-up

On interest rates, we may be missing the point here.

The market, not the Fed, sets interest rates over 6 months. And as Jeff Gundlach says those rates are only going to go up.

The Fed has to roll over $15 tr of debt in the next 14 months. Who's going to accept anything less than 4% for that?

If they do drop interest rates inflation will rise if they don't the economy is screwed either way we are past the point of return and I dread to think what will happen.

Eish- oh the Fed absolutely HAS to lower interest rates. It has no choice whatsoever. Forget about the economy, although that is a basket case. The real problem for them is to service the vast debt And the interest payments that are due on it. Over $1 trillion.

More than the military budget! That is NOT sustainable. Not to mention all the cheap money addicts out there suffering from withdrawal.

Interest rates are heading back down towards zero. They have no choice.

I guess we have had our little surge to nearly 35p?

Question is: When will gold move towards 3000? Not looking likely that the Fed will lower interest rates again in the short term, which naturally would be good for the POG.

Waiting here for our next healthy report!

No. Fast Fast, Fast! LOL!

AISC is under 1000$/Oz and gold at 2500 means Nett Profit 1500$/Oz

PAF's masterstroke gold operation get's going under budget ahead of schedule.

Quoting Loods: " So, we are producing more than 100,000Oz of gold per annum from these really low cost productions"

https://www.miningweekly.com/article/pan-africans-masterstroke-gold-operation-gets-going-under-budget-ahead-of-schedule-2024-10-03

Quiet on here considering.

Bought this on an ‘Investor’s Chronivle tip at 5p in 2009 or something.

Gold and hold.

Possible.

Would be in a net cash position this time next year.

Operational leverage is becoming significant for gold producers at these gold prices. For every 1% rise in the gold price this is multiplied in % terms when it hits the companies bottom line.

I can’t wait to see this year’s financial results!

Gold futures climb above $2,700/oz for the first time

Huge trades going through, could PAF be the next take over target ? Would make sense at this price.

Eish, I'm very enthusiastic about the price of gold and the performance and future share price of PAF. I. Don't often post because I don't have technical input but when enthusiasm is called for I'm your man!

Funds are adding which is really good news for PAF !! And it’s just the beginning …

Adding.

Should be a good day tomorrow, don’t know what this market is doing!!!

This is a link to the USA National Debt Clock....https://www.usdebtclock.org/

What's the significance ???...The numbers are whizzing away like an unstoppable fruit machine which means the dollar ..which is losing its value against Gold ...is in danger of collapsing as neither Presidential Candidate has no proper plan to tackle this problem a potential event that could make the 2008 Credit Crunch look like a minor blip in economic history..

I forgot to mention the Middle East, Saudi Arabia and perhaps others like Dubai, aligning themselves ready for a "new Gold Backed Currency". The article from the Jerusalem Post is interesting. I wonder if Crypto is a real contender, I doubt it! It's a shady slippery "currency" requiring a heck of a lot of power to operate. Has a dark side! Gold through the ages, bulky but best! LOL!

Interesting Article In Regards To Saudi Arabia Secretly Buying Gold https://www.jpost.com/business-and-innovation/precious-metals/article-821289

Highest gold today is 2631 and there is a possible war waging in both Ukraine and more worryingly northern Israel! Central banks buying gold, Indians love gold and Chinese always ready for a top-up as the fluid gold market moves steadily eastwards, away from the west (London metal paper market) and must soon control the POG in Shanghai.

What we can say about this board is at least it's not on the scale of being malignant like Solgold! Phew!!

Im puzzled as well, I see this hitting 40s this year and over in 2025 that’s if we don’t get taken out, share price is cheap and I’m sure majors are sniffing around Paf…

Just listened to Willem Middelkoop. His opinion is that the bull in gold miners has only now been underpinned by POG above $2500/Oz.