Member Info for carvegyber

Well, the stimulus is still keeping a lot of people away from seeking work so the numbers is really misleading. I think if there is less, then it would be good excuse for gold to surge because it already wants to. If more, I don't think it would hurt much. The real story now is inflation. I remember 6 months ago trying to convince people here that inflation is on its way and there were quite a few non believers. Now, everyone has changed their tune.

The real acid test is wage. Private sectors in California is already having to pay more. Uncle Biden wants to raise minimum wage. When wage inflation gets underway properly, then the feedback loop will get underway and we will have inflation rates of 3-4% like the 2000s. Nice for gold. That was a great bull run for gold up to 2011.....6-12 months away.

Hold tight to your golden tickets fellas.

May 1st raid seems to have taken effect. PSLV has added 15m oz to their vaults in the last 2 weeks! Still going up. Raids on the bullion dealers continue to flood in across the pond.

Even SLV which has seen outflows since silver squeeze 1 has now added 1m oz from 3 days ago. Looks like investors are reversing the outflow to silver etfs.

I am guessing the reversal is gathering steam. It will gain more momentum now because when the focus on bitcoin and commodities wane, PM will start being picked up again and gold (and silver) will once again be king.

Perhaps it is to do with early 2010s when loads of junior explorers went ballistic and subsequently folded. Once the gold bull resumes in proper manner outside of the pandemic, this sector will become irresistible even to british fund managers.

DBNO, you are a joke! Can I just ask the BB whether anyone here takes this guy seriously.

Somehow had a hunch this would go today and there you go....decisively as predicted.

Hello 900s. Good to see you again. There is good volume the last hour and the half confirming buyers back in the market. This is now confirmation of gold bull returning. Should start to see investors now being convinced of the inflation story and benign fed.

Gold has legs for $2000 in a few months in this environment. Throw in cod war 2 and China invading taiwan.....wow

Be good to see fres start with a 9 or a 1 again.

I get a feeling 1800 will go convincingly today. When you get repeated testing of a resistance, the break is often decisive.

OMG, I step away for a moment and vaccine war has broken out on this chat. All I have to say is respect each other's opinion because I think this is one of the most knowledgeable board on LSE.

I am pro vaccination not because I think it is safe or effective but because it resets the thinking of liberty robbing governments so that they will finally let us out of lockdown. Countless lives have been ruined by lockdown just as much as covid has caused.

DK, it could be they want US dollar to remain important and dominant. When the narrative of gold gets too strong, people lose faith in dollar and start using alternatives. When the whole worlds stops using dollar as virtually the only exchange for trade, the US is done for.

Thought Powell sets the rates being an 'independent fed'.... got to laugh.

Looks like another fund took a beating with wall street crash this pm and had to liquidate their gold for margin call I reckon.

This barrier is repeatedly rammed by gold and looking at the volume and momentum, I think it will fall in the next few hours. That would serve as good confirmation of gold bull resuming. More people are convinced of inflation now....

Silver busted 27 briefly. We need to it to close above.

https://twitter.com/Sprott/status/1389364644129693697

Since Feb, PSLV has added almost 50moz of silver to their vault. That is around half a month's global silver consumption.

If they ever zero rate silver VAT in UK like gold, I think there would be a surge of physical buying here too....

I have been tracking PSLV since last week and it has added 5moz since late last week. Today's holding stands at 138.4mOZ which is yesterday's holding. It would be interesting to see what the number is on monday. From Feb, this has added around 50mOZ but SLV has shed 100moz. I wonder what this raid will add to PSLV by next week....

Let's see if people power has any effect with Comex. All the buys will take a day to kick in so all those buys you have done today will be reflected in the silver price on sunday night. Thanks for joining in fellas. GLA

Subnote: it is worth buying NYSE traded stocks because their valuation is much better and most importantly, the costs are low. Free to buy and literally pennies to sell. No stamp duty and all that malarkey. Everyone here should make sure you can trade us stocks.

Sharem, that's it. Buy from your stock broker but if you have never bought shares from US/NYSE before, they may ask you to fill in a disclosure form.

Alternatively, I believe there is a PSLV equivalent here but I can't remember which. I think it is PHAG

DK & PB, For what it is worth, I am prepared to stand up and be counted. I bought £2000 worth of PSLV this morning. There is 99,999 more people to go. LOL.

Let's see where this May 1st raid takes us and how much the needle moves. Even if silver falls 10%, which is a great deal, I will lose £200. A day out with the family...

Let's all chip in.

My trading pot has an average price of 933p. My longer term pot has average in the 700s. I am well and truly a seasoned long termer.

Trading wise, aside from the 933p, I had picked up many many 000s£ from the volatility in the past 2 years. The run up in august and silver squeeze has been particularly kind. Looking for another.....

Look PB, if you can't come up with a good reason, and the volume has been unspectacular of late, which points to no large scale institutional selling, then it has to be MMs right?

The only thing that confounds me is that there are not more derampers here because the two go hand in hand. We only have you and DownB

Yup. That is correct. It can also rise very quickly so it is tricky timing the best buy. If you stick with medium and longer term timing, you will be well rewarded.

Gold ETFs has had record outfall since August as tech and other commodities take centre stage. This effects the metal price more than the record buying from China. This has stabilised and we are in a good place to see gold rally from there due to inflation (negative real rates) and money printing.

Looking back at the posts, it is safe to say that the vast majority of holders here are confounded by the large drop yesterday. Unfortunately, it was egged on by the drop in gold price but seriously, it was a good production report that in net form was actually 3.5% up on Q4 but big 11.9% up over 1q20. It was a good departure from the lower ore grade and lesser ore processed production reports of past. I don't think any of us (except a few) expected the large drop.

It is becoming more undervalued by the day and for such a well managed PM miner that is on FTSE100, I do find it staggering.