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I think 1.20 is a good re entry point
Gold will drop further over the next few weeks I think, it is well overdue a pull back
If we assume that full year dividend will be about 10 cents then 1.20 sounds like a reasonable valuation, it's also approximately the 50% retracement from low to high
Currently $1456...
Chinese devalued the RMB fix below 7 and suspended US agriculture imports overnight
Next stage in the trade war...
Looks like all the major currencies are in a race to the bottom which should be good for gold, the only problem is that when you try to realize your profit it will be toilet paper.
Well said pushmepullyou! I agree with your fair value calculation method Let's just hope that the 3 year plan doesn't contain any nasty surprises ... Base case should be 500k oz 's, any less than that will be taken badly in my view
Just placed an order to buy at 92p, possible it has more to fall, double bottom at 87? Regardless I am happy to hold for decent yield. Fair value is probably about the £1 mark or slightly above if you take the cash pile into account