Member Info for BuggerTheBanks

Gold is up...silver is up big, but my basket of (trans-Atlantic) miners are all down 5%...& things aren't much better here.

What's going on?

I would suggest SOMEBODY (i.e. the usual suspects) already know the job numbers (before publication) & THAT is what is driving the sudden spike in the PMs prices.

We'll know ourselves come 1:30pm.

This is some ride. At this rate the GSR will be under 70 by the middle of next week.

Nice to have something good with which to remember 2020.

It's not just FRES. Gold was steady overnight & silver up 3%, & yet (pretty much) the entire sector is down? WTaF????

Meanwhile, across the pond: Chesapeake Gold (that was up over 19% on Tuesday) was up another 16% yesterday. Yes: I'm comparing a mostly gold play with a mostly silver play, but silver is outperforming gold right now. It says to me that the market does not yet buy the rise in the (physical) metals.

Me? I do (grins in satisfaction).

We're down 6%, so it seems that the market doesn't like our drill results, even though gold is steady overnight & silver is up another 2-3% (rolls eyes).

This is turning into some week! Let's hope it doesn't get spoiled by something.

JPM now seem content to sit back & "let 'er rip". If that's the case, you won't hear me complaining.

"I love the smell of burning fiat in the morning".

I believe that article was slightly deceptive. If I understand correctly, China has banned their citizens from buying paper contracts & gold derivatives: Chinese citizens are still able to buy the physical metal. Which they do in quantities.

From 20:51:45 - 20:57:00 the gold price was frozen at £1,557.57, the silver price was held at £20.57 & the platinum price was stuck at £739.81 before they all slumped at 20:57:00 precisely. It's almost like trading was suspended.....but it wasn't. NEVER seen anything like that before.

Anyone got any ideas?

What's it worth with gold at £4,000 & silver at £135 p/oz? Can somebody with enough knowledge about the company & their reserves work that out?

Holding: not trading. My original plan was to hold to £20 (I'm in at £6.60) but as the world continues to go to **** day by day, I'm now looking beyond that. Haven't yet chosen a new target, but if someone with the numerical & balance sheet skills can tell me (approximately) what FRES is worth with £135 p/oz silver, that would be my target.

GLA (as always).

Dipped immediately, then straight back through it.
Dipping again now...

Maybe not paramount for a gold miner, but every little helps.

That being up 20% in five weeks would be "disappointing"??? I'm rather embarrassed to say it, but with PMs soaring, despite a great run from late March to the end of June (when I bought-in at £1.02), we've really lagged the rest of the sector since then. Across the pond, Chesapeake Gold was up almost 20% yesterday alone, & whilst that's not typical of my portfolio, the likes of Gold Mining Inc, Centerra Gold & Coeur Mining were all up over 8% yesterday.

Given that the bulk of the move in the PMs price occurred AFTER the UK market closed, & that it's up AGAIN overnight, I was expecting us to fly this-morning like **** off a stick!

Why so lacklustre?

Silver just bounced off $26 THREE TIMES in the last 20 minutes. THEY really don't want a close above that level.

Let's not get too excited: remember what happened Monday night / Tuesday morning of last week...$2 smashed off an oz of silver. They'll do it again (although I'd LOVE to be wrong).

Looks like I was premature...

"That's not a monkey hammer....THIS is a monkey hammer!"

Silver off 50p in 20 minutes. ****ers!!!!!

So it seems that 2020 will be the year that gold reaches $2,020.
And $2,100....

Will it also be the year that it reaches £2,020???

Gold isn't hanging about, either.....pushing on to $2,004.

And there's the monkey hammer! Silver off 30p in less than 4 minutes.