Just bought a tea from Greggs. That's the umpteenth time the tea bag has bust. If Quality drops the customers disappear and competitors fill the space. Oh dear!
The combined weakness for gold is, China's on Holiday all week. The dollar is slightly up. Financial news is pretending Deutshce bank is OK and any talk of banking difficulties has disappeared from the press. Plus other bits of media reporting.
looks as if the gold backed Chinese Yuan is slowly taking over from the US Dollar as the worlds reserve currency. From the 1st of October 2016 it's in the elite basket of reserve currencies in the Special Drawing Rights (SDR). I've heard Russia and Asian countries are using the Yuan as the only international trade currency in town and Japan are having to follow.
I may be wrong but I'm sure Amanda Van Dyke said something like- she expected NMG to be in production by the end of September. That she had invested. That they had a huge resource. That the company would be very big.
These are the German institutions to watch. .Allianz, Munich Re, Hannover Re, Deutsche Bank, Commerzbank and Aareal bank, the contagion could be immense.
Morrisons is the second largest food producer in the Uk after Premier foods. It has its own, mostly everything, from Field to Fork which gives it more control, flexibility and a much shorter supply chain than other major supermarkets. I don't know how Tesco and the others can cope just being 'middle men' with a cumbersome business model of third party suppliers that's out of date.
If the US keeps interest rates as they are gold will rise. To break out from the vice like grip of the dollar, gold needs something extra like a European banking collapse, maybe starting with Italy.
Well, that wasn't much of a drop. I was salivating at the prospect of picking up more shares at a bargain. I suppose good quality stock always fetches a premium.
With Shanta being a steady company I hope everybody has stocked up on the other more exciting gold shares that are about to re-rate in the next couple of months?
One mentioned by Amanda Van Dyke and others mentioned by Others.
A weaker dollar yesterday prevented gold from finishing below $1333. It's up to $1351 this morning. With US manufacturing down and embedded in it looks like we're heading for $1375 and beyond. I liked Amanda Van Dyke's interview and especially on;- Shanta's production levels, it's stability and historical annual rises in the gold price September/October. At the moment Shanta is heading for 12p+.
Not too concerned about the opening price of gold which is so close to $1333 but I would like to see it close below that tonight or Tuesday and then start to helter skelter down. If shanta follows I'll have a chance to buy back in sometime in August.
Everyone is locked out of the market until Monday. Lots of Thinking Time. Gold price Tantalising close to $1,333 where the trap door opens and it drops further. People worried about a further drop in the gold price should stew on it over the weekend and panic sell on Monday morning.