Member Info for booboouberbear

In the gold markets is once in a generation stuff. I'd think COMEX will record an all-time record amount if trades by close of trade today. Its moving 2% within a few minutes which is unprecedented.

To me looks like a battle of demand for physical deliveries against the paper shuffled on COMEX, could be any number by close of play, up or down by close of play its that wild.

Expect the RNS at 7am then on resource update.

There is zero chance rates are going to go up, looking at the Atlanta Fed GDP Now Forecast, the US is barely growing as it is <1% for the Quarter, they aren’t raising rates substantially into that and causing a serious recession, and that is before we even get to the debt pile, any interest rates rises will be lip service, as inflation is seen as the lesser of two evils.

If anything I’m preparing myself for QE5 for the US Fed.

Correct, inflation is the story here, and reading some articles this morning the West is already preparing for hyperinflation and what that entails...

Everything's went ape**** on opening...

When you look at the sheer broadbased delerium in commodities today you have to think we are about to get him with a massive inflation bomb.

And in that circumstance anything can and will happen.

The volatility in Gold is off the scale, this is (in theory) a $14 trillion bullion market with the vast majority of bullion held in vaults that is now acting like a Junior investment market.

More top results. Just need to wait for the resource update.

https://www.reuters.com/business/finance/russian-central-bank-resume-gold-purchases-domestic-market-monday-2022-02-27/

Could ger interesting tomorrow.

Russian Invade Ukraine and the Fed's preferred inflation measurement continues to outperform the expectations, and what does gold do...have it's worse two days in a month, it's a crazy old world that makes less and less sense to me as time goes on.

You've just bore witness to this generations appeasement.

The looked down the barrel of the market response this morning and made a decision between Ukrainian's democracy or our consumerism and living standards and we've seem who won out, no restrictions on the O&G or Commodity Sector, no removal of Russian SWIFT access lots of laughable sanctions that mean nothing.

Nothing to see here, look away...

The play for gold is inflation and the dollar falling over. That's why I'm here. Short term trends won't save the deep seated long term trends in the dollar coming under massive pressure in due course.

Happened the last time at $1950+ in 2020, he cashed in physical tonnes for hard currency. He'll 100% need to do it again to pay for this charade and the crippling sanctions that will follow.

I would also imagine there will be a massive flight to cash going on.

Once the dust settles (whatever that looks like) we will be left with hyperinflation, a massive recession and a complete mess and with it a wholesale return to having more gold in more portfolios.

And another very smart recovery in AUX again today. The sheer strength out there has to be central banks I would have thought.

The updated resource statement will be out this / next week, the stated aim of the drilling across the three phases (which will go into 2023) is to convert the NI 43-101 Compliant ‘Inferred’ Mineral Resource Estimate of 1,182,000 ounces gold grading 12.6 g/t into a higher confidence ‘Indicated’ Resource Statement.

The resource update of 20 Sept 21 converted these ‘Inferred’ Resources to ‘Indicated’ at a rate of 130% for Isulu and 110% for Bushiangala, so it will be interesting to see if that trend continues / can be bettered with this round of drilling and resource updates to the ‘Indicated’ levels.

Of course we will also have maiden resources at Ramula and a remodelled compliant resource at Bumbo to add on to the above.

They are obviously confident which is why he stated ‘as the West Kenyan resource expands toward a multi-million ounce gold district comparable with other prolific greenstone belts in the world.’ So I am hopeful for a bump up in the ‘Inferred’ confidence factor.

IMO a farm-in will happen, I guess its a matter of timing for the company to extract maximum value from it while also understanding the need for future CAPEX that WK will undoubtedly swallow, I think it will be H2 this year when the fundamentals become crystal clear, starting with the updated resource report due out in the next couple of weeks, where we can hope for significant conversion rates about the base numbers.

They’ve given AUX another go at moving it down and straight back it’s come again in the afternoon trade. Very resilient at the moment, any dips are being mopped up.

Agree, this is a macro (inflation) based rise and has been building for a while, the last 2 / 3 months has seen serious inflows into Gold ETFs and Central Banks are buying physical reserves at decades highs, it’s clearly just took time o filter through into the frontline price.

Nice to see some colour come back into our Shanta cheeks again.