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It seems someone has been selling constantly today in any rises, I did see a tweet from the CEO saying everything is doing v well so nothing company related. Investors sell for different reasons, but this is clearly undervalued here
Why?
They're all relatively high cost producers and thus well geared to AU price rises...?
Any thoughts...?
Gold about to take the next leg up, looks like US recession imminent
$2,029.03 gold
You'll see a jump in buying activity tomorrow AM. Mew tax year and a different capital gains tax regime to take advantage off.
MYLES still holding not that it really makes a difference-nice move Shg - as I said stick to it producers - Ggp hardly moved and get even get over 200dma
Island girl - that was precisely my thought too
Good start for many of the beaten up gold producers this morning including Shanta Gold. My Serabi has also woken up from cryosleep
Problem with Myles he never says when he's sold or selling off position but very vocal when he's buying or adding (if thats the case). Look at Avacta lots of his followers stuck in that stock whilst Myles was selling. SHG very much a traders stock from beginning 2022 been ranging from 8.6p-13p.
With the gold price this high, Shanta should be over 20p only a matter of time, I believe 15p finish this week
For those of you interested in Tanzania's gold >> https://www.tanzaniainvest.com/gold
Moving up quickly here, investors realising how undervalued Shanta is
Finally the re rate we’ve been waiting for IMO
This should finish above 13 today with gold stable @ 2039s
We really need Eric to release full production for the year. It is imperative so the share price can re rate
Gold holding its gains!
Expect a big day here.
https://twitter.com/MylesMcNulty/status/1643256653293166599?t=yvsBBaShxMFtjgbPOcq8vQ&s=19
This is relevant because gold is the anti-dollar.
"Here Are 7 Signs That Global De-Dollarization Has Just Shifted Into Overdrive"
The author says "10 years ago, none of these things would have happened.
But now change is happening at a pace that is absolutely breathtaking."
from https://www.zerohedge.com/geopolitical/here-are-7-signs-global-de-dollarization-has-just-shifted-overdrive
Quotation - "Change is coming that hasn't happened in 100 years and we are driving this change together." - Xi Jinping "I agree." - Putin
The price of yellow metal broke over $2,000 on Tuesday, reaching its new one-year high following the release of data on the United States' labor market, which showed a large drop in the country's job openings.
The lower-than-expected job openings figure in February could indicate that the United States labor market might be slowly cooling off following Federal Reserve's aggressive monetary tightening to tame the raging inflation in the country. The traders will now shift their focus to nonfarm payrolls, slated for release later this week.
Gold jumped 1.62% to go for $2,016.40 per ounce at 10:16 am ET, hitting its highest level since March last year. Silver surged 2.73%, selling at $24.64 per ounce at the same time. Platinum gained 1.84% to $1,011.91 per ounce and palladium rose 0.86% to go for $1,464.13 per ounce.
Baha Breaking News (BBN) / AB
Calling it, shg will be in high 20s on this gold run
All IMO
They will ! Our day will come
lots of reasons that Currencies are going down and therefore Gold going up. The more gold goes up...the more sh2t in your life....but the more ounces you have....this will help....just wish SHG SP knew this too!
That’s all, no it’s not just some us data !!!! ! Gold is going much much higher
?? Central banks being forced to buy gold to improve the quality of their FX reserves;
?? Global gold production likely entering another secular decline and supporting the supply case, similar to the 1970s and 2000s bull market;
?? Failing 60/40 portfolios looking for haven-asset alternatives;
?? Inflation likely running higher than the historical average for this decade creating a need to own tangible assets;
?? Commodities being historically undervalued relative to financial assets;
?? The percentage of yield spread inversions in the US Treasury curve breaching the 70% threshold, making a strong case to own gold and sell overall stocks;
?? The ultra-conservatism by major mining companies returning more capital to shareholders than investing in current/future production of precious metals;
?? Lack of new gold and silver discoveries due to chronic underinvestments in exploration and the natural geological challenges to finding new mineral deposits;
?? ESG mandates and government pressure against the development of new resource projects;
?? Institutional investors demanding gold companies to focus on green metals rather than gold-only projects;
?? Record pessimism on precious metals due to interest in digital assets and unwarranted skepticism towards the credibility of gold and its history as a true monetary asset;
?? The fact that the US and other developed economies are facing a trifecta of macro imbalances:
1) The debt problem of the 1940s
2) Speculative environment of the late 1990s
3) Inflationary issues of the 1970s
Gold is going up because of many things , especially huge central bank buying
It's also being backed up by physical demand not seen in decades. The rise of gold is multi faceted.
Gold is going up because of some weak US data leading to speculation that interest rate rises will be paired back a bit. That's all.