Member Info for bonker99

5 minutes then peeps - whatever happens, Gold is coming back to $1,806 but if that ends up being the new floor then happy days.

BTW - re China/Russia settling in Euros:

This may be what Brexit was about because in the new order, weakest currency wins and that suggests that Europe is taking the fall.

Again.

"The New Russia-china Gas Deal Will Be Settled In Euros - Source"

Wow.........

Look where Turkey is in this list:

National Gold holding changes 2010-2020 - top 10 buyers vs top 10 sellers:

https://twitter.com/zhanglifang/status/1489552092541108228?s=20&t=6umLY3dPo2gdSbOv8-C7Hg

"Putin and Xi have a meeting in Beijing at now today. One of the contents is the decision to establish an independent financial settlement system to exclude the impact of economic sanctions from the third country.

Gong Xixiang, Secretary General of Xinhua news agency, said that gold will play an important role in the process of restructuring the world industry on December 3 at the 2021 Boao Forum"

BOE GOVERNOR BAILEY: WITHOUT RESTRAINT ON WAGE RISES, INFLATION RISKS GETTING OUT OF CONTROL.

BOE'S PILL: WAGE INCREASES OVER COMING MONTHS TO BE `ELEVATED' (boom)

BOE'S PILL: OUTLOOK IS FOR INFLATION TO BE BELOW TARGET IN 2-3 YEARS (so five+ years then)

UK Construction PMI Jan: 56.3 (est 54.3; prev 54.3)

Morning.

Yup - interesting.

Brent at $92 - getting closer to the c$108 target I charted in Spring 2021 - possible headwind at $93 IMO, hot daily RSI and an expected terrible US "jobs" number at lunchtime so I wonder if that may cause a "sell-off" on oil or whether it just keeps on going cos must..have..inflation.. and maybe the Russia nonsense gets used to get that extra $15 on top.

Who knows - interesting times though ...

Expect volatility - soon - not necessarily here but in the macro.

I charted Brent oil to c$108 in Spring 2021 and it's $92 as I type.

Possible headwind/reversal at $93 though IMO - terrible US "jobs" number expected tomorrow lunchtime which should push back at rate rise expectations but it's impossible to call of course as it's all so manipulated.

They want and need the inflation which is why we're getting it - the upshot of that is they can keep pumping oil as they have done (with zero fundamental reason behind it other than must..have..inflation..) to offset the economic downturn and the game-breaking prospect of deflation but they'll have to smooth it out somewhere along the line - certainly before the US mid-terms in November.

When they've pumped oil enough they'll pivot into Gold, I'm pretty sure of that - when it will happen I don't know but sometime in the next six months IMO although it could be tomorrow for all I know.

"Producer prices in the Euro Area jumped 26.2 percent from a year earlier in December of 2021, the most on record"

https://tradingeconomics.com/euro-area/producer-prices-change

It's really quite the response - I know Bloomberg said there was a bank sponging at $1,800 the other day which I'm happy to take the reverse-read on as it's Bloomberg but this reactive hourly candle is a bullish engulfing so far - interesting stuff.

Really very interesting action on Gold right now ahead of tomorrow's trainwreck US "jobs" number ...

Because it would be illegal for them to buy shares knowing that a placing was coming.

A placing in the future?

Sure but I'm guessing that won't be lower than 25p post-Dugbe DFS in April.

Contrived or not, it guarantees us that there'll be no placing before the Dugbe DFS drops in April which is good enough for me.

That's more like it ...

Well it's nice when the TA and the fundamentals line up and if you like the sector then you've got to give it serious attention - as I clearly have these past months.

I've pointed out how firesale valuations of Kouroussa and Dugbe (post-DFS in April) should net us a c40p/c£150m mcap as a new base with Gold @ c$1,775.

The c$180m of cash in 2023 Dan referred to, if realised, should add another c30p to the SP/mcap which takes us very nicely back to the next obvious technical target, as seen on the chart back in the day, of c65p so with a bit of luck we'll see that around the end of next year. If Gold takes off ahead of that, however, then we could see it a lot sooner than that as the market is forced to price-in forward revenue/profits on top of bare asset valuations (both will increase at the same time with a higher Gold price ...).

The market always knows this stuff well ahead of PIs knowing (or seeing it) which is why the TA chart stuff can be so useful - *if* the fundamentals/macro/sector aspects also line up :)

We've likely got an awful US "jobs" number dropping tomorrow lunchtime so I suspect that'll certainly not do any harm to the Gold price as rates rises get pushed back yet again in the market's minds.

@apr - I'm sure we've all looked at charts of 10x baggers and wondered how/why etc but the reality is that they're on offer all the time. You don't get to realise that 10x though if you don't identify it at the right time/price (even better!) and then sit in and simply wait for it to unfold over time.

I've no need to sell this to anyone, the numbers speak for themselves and I simply will not sell c3.5m ounces of gold reserves to the market at <$20 per ounce in a hyperinflation environment :)

As pointed out the other day, factor in a really modest $200 per ounce of profit per ounce of Gold over the coming decade and that's c£500m of profit thrown off, it's as simple as that and that's your 10x bagger from right here, right now.

If that ends up being $500 per ounce because Gold rockets in the coming years (looks pretty likely to me) then you're into a telephone numbers/Centamin level of mcap and a genuine pension maker for anyone who simply ignores the short-term noise and rides it out.

At the current price/mcap, Kouroussa is priced in and nothing else - that *will*change upon the Dugbe DFS in April.

We'll have to sit through lots of this drama from the buyers over the next few months chaps - dig in ;)

Fisticuffs after-market by the look of it - 13p will be the new floor at some point but not tomorrow if they can help it :)