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..a steady rise from 1pm low at 2290 and keep going 2318.60 new all time high every day...wow
I am looking at POG $2317/oz on the futures
Yes at 23 definitely a buy but also there was a recurrent sell trade going on.
Anyhow buy or sells I am looking at POG new record high, one every day now, this is unprecedented
even Forbes article today was recommending loading up on gold and miners..
And yet PAF close in red today, 2 £1mil buys is not a small amount.lets see what happens next few days,
all my other goldies are motoring up, come on Paf
Have to say retracement has been minimal.
I read few in the sector expecting a correction with support around 2150ish,
but the way is going up and staying up is remarkable.
It doesn't matter what the USD is doing POG keeps rising. Some saying that POG will go up also when there will be a correction in the market, I wonder if yesterday push higher was such case...with indexes coming down.
Interesting times but at this rate 25000 is definitely on the card.
AIMO
Wil PAF close higher tomorrow with Gold currently at 2297? lol
Have to say on my chart day candle it opened with a gap today, and retrace was inevitable, better fill the gaps now than later.
Price should carry on rising from here.
IMO
Wow gold at 2280, mind you it must be with very low volumes, RSI is overbought and a small correction/consolidation may be due.
Still mid long terms by the time they cut rates we could be way past 2500.
aimo
By the way PAF just close at new high for the year.
Next day close is 24p of 13/04/22 with 27.10 day been all time high.
As from lates interim result PAF was trading at forward PE of 6. Recent POG rise have reduced PE to 4 implying a 50%
sp appreciation in near terms with more upside coming from POG and production increases...
Definitely a new all time high sp coming IMO.
Have a feeling Gold will skyrocket the way price is moving.
Mind you there can be lots of volatility in the way but trend is very much upwards..
Conversely if/when the Fed will actually start to lower rates it could be when Gold has topped (buy the rumour sell the news) but this is very much months away and at this rate who knows POG may settle easily above $2500 with Gold miners doubling in price this year.
All my conjecture theories...but POG is telling the story.
Have position in PAF, CBX and GAU. For me the best miners out there offering fully funded growing production with good balance sheet and decent geographical risk.
It should be a good short term trading opportunity from here.
US CPI out at 13.30 HOPEFULLY will deflate the USD and then OPEC report is meant to support the POO.
Is it maybe 5million at 254.90 a short closing....wishful thinking?
Oil up and USD is done with rise from job report
Solid numbers, I make a projected PE below 5 for the current year, this without considering any further increase in gold price. More to come from POG and extra 50k/oz production by year end, no debt worries and plenty of visibility with reserves/resources. PAF imo is the best UK gold miner at the moment and for the rest of the year.
PAF is due for a re-rating.
According to data from Investing.com PAF is one of the best net profit margins out there at 20%, with gold price set to increase further, while the worries of increasing inflation and cost will subside.
Next year also production will increase, this is easily a double you money 12 months investment, I whish I bought more at recent 15p.
I am sorry downbutnotout
but the tone of your post make it sound like GS valuation is what the world should pay attention, when is actually the opposite.
We all agree that GS price targets from stocks to metals etc. are notoriously wrong and/or misleading, why should one take notice now......I suppose 260 is exactly when they are planning to close the shorts, but if it doesn't get there they will close them before that...
Goldman are notoriously misleading the market with their reports to suite their clients and own hedging and speculations, they've been caught out so many times getting it wrong on prediction and valuations, and yet because of its perceived aura behind their name, when they fart everybody pay attention.
Good timing from them to open some shorts....the deal still to materialise and recent production downgrade and here comes the report....this is the way these financial firms operate, I wouldn't be surprised to see a spike up as soon as the shorts are closed
.....Just to add, previous post was not a financial advise, indeed be aware of the technical of the Nasdaq right now, whereas RSI-Day is very much divergent from index and in overbought.
Sorry to intrude with a non directly related LLOY topic but.....hey! Are you keeping an eye on the US AI/Tech sector?
I am reading posters like "another good week" possibly thankful because LLOY share as not gone down, meanwhile there is a huge tech bubble in the making happening. I am sure some savvy investors on here "possibly the non Sun newspaper readers" have some holding on US tech but just saying.......yesterday AMD up 7%, again!!
POO has broken short term uptrend since 3rd Jan and heading for support at 70.45$ longer upward trend.
US macro data out today retails and tomorrow jobs and manufacturing and oil inventory, kind a pivotal point for POO.
Have recent talks of delayed rate drop being already baked in the POO, or more to come with negative macros?
Also AI/IT growth stocks seem too hot atm, but is another story....
Down 8% today on Q3 production number, this even if are better than previous quarters.
Hmmmm I am a bit concerned on the whole sector in view of this market reaction, I mean Barrick is trading at some PE of 37, a bit steep imo, and I wonder if a correction of the gold major, will affect also the smaller miners in the sector.