RE: "Shanghai -China trading GOLD at $2,368 & Silver at $29.29/oz."-Wed, 3 .4.243 Apr 2024 12:49
In ze world, there are 2 OFFICIAL GOLD EXCHANGES called COMEX & SHANGHAI GOLD EXCHANGE Yah. To know how an exchange works, type :Comex, Investopedia. Gold prices has SPOT and FUTURES. So, if I walk into a gold shop to buy gold coins, it will not be haggling. Same if one goes to Bullion By Post via online in the U.K. So, Gold follows the prices of price usually. A Cannacord fund manager now watches the SHANGHAI GOLD EXCHANGE as the trading hours are different to us and USA due to the time difference. Same with Bitcoin during American , European & UK time and Bitcoin trading during Asian time. You know, ze world trades on different time zones. So, at the moment, IF the CHINESE are buying gold be it their Central Bank or from shops especially the young want to buy gold beans, then it is predicated upon the EXCHANGE RATE. You know, its like you go to the CURRENCY BOOTH IN ASDA? You tell the man you want US$ and he has to look at the SCREEN to see how much US$ trades to the £. WHICH IS THE LARGEST GOLD EXCHANGE IN THE WORLD: It is the Shanghai Gold Exchange. ALL EXPLAINED BY THE WORLD GOLD COUNCIL: "MAJOR TRADING HUBS." It includes the LONDON OTC GOLD MARKET as well. Hope it clarifies. RRR --ASSETS--ARE MAINLY GOLD & RRR TWEETED THIS MORNING.
Yah? Solgold has ONLY ---GOLD ASSETS --MRE etc but NOT in production = NO INCOME. BUT MKT CAP £300m this morning and needs FUNDING like every other junior exploration co. Same with GGP and they only own 30% of Havieron and their Mkt Cap is £297m. A/c to 21 .12.23 Proactive, Havieron has 8.4MOZ gold 2.52MOZ for 30% stake. Again, GGP is NOT producing and also needs FUNDING to survive. RRR has a JORC 1.2MOZ GOLD IN KENYA [licences being renewed] but MKT CAP £1.94M. EVERYDAY, ONE NEEDS TO FIND OUT VALUE IN GROUND , SO RRR 1.2MOZ X US$2,368= US28.416M!!!! WH IRELAND FOR MANKAYAN does value in ground methodology ie what is the JORC MOZ x gold price. So, gold price is of interest, yah? Like house prices one needs to follow PRICES? Hope that clarifies. 3.4.24 NIA. Above to give examples.