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The People's Bank of China revealed at the weekend a further 30 tonne purchase of gold in December, following on from its first reported monthly purchase of 32 tonnes in more than three years in November.
Traders are now looking for signs on how persistent inflation will be to gauge the outlook for monetary policy. Phillip Streible, chief market strategist at Blue Lines Futures, a brokerage, said that gold could break through $1,900 per troy ounce if the US consumer price index data on Thursday are weaker than expected.
"Once you get in the 1900s, it becomes a gravitational pull towards $2,000," he added.
MKS PAMP, a precious metals group, predicts an average price of $1,880 per troy ounce this year with the potential for an even higher price in the case of continuing volatility in the financial markets, lower global growth or faster cooling of inflation.
"Gold has been down on a hawkish Fed fighting inflation but it is not out with upward trajectory from here on out," it said.

However, James Steel, HSBC's veteran precious metals analyst, added that retail investor demand for gold, particularly for jewellery, begins to bite when prices rise above that level, capping gold's potential rise.

And some are cautioning that a less aggressive
Fed policy has already been largely priced in.
BC analysts warned that market expectations of
Fed rate cuts from mid-year "are not yet a foregone conclusion".

https://www.ft.com/content/0cfdf85b-83b8-4737-a66e-72b90218af30

Precious metal has jumped 15% since early November

Gold prices have ripped higher over the past two months as expectations that the US Federal Reserve will slow its interest rate rises boosted the precious metal.
Prices of the yellow metal have risen 15 per cent since November 3 to almost $1,900 per troy ounce, reaching the highest level since April 2022.
The rally comes as the market increasingly expects that the Fed will slow the pace of its increases in borrowing costs as inflation eases off its highs. Higher interest rates make gold, which unlike bonds provides no regular returns, less attractive.

"Broad financial market expectation that the Federal Reserve will need to pull back on aggressive monetary tightening is helping to support the gold market even as Fed speakers show no sign of turning yet," said analysts at
Emirates NBD.
Analysts also said slower Fed rate rises compared with other central banks, such as the European Central Bank, could put downward pressure on the US dollar, which rose sharply last year. A weaker dollar tends to benefit commodities, including gold, since it makes them less expensive for buyers outside the US.
Gold's latest 50-day run marks its best since the coronavirus pandemic shook global markets in 2020, which sent prices above $2,000 per troy ounce.

Gold prices slid sharply last year after hitting a record high in March as central banks around the world moved to raise interest rates to stymie inflation and the dollar was boosted by the strength of the US economy.
That weighed on investor appetite for gold with a second consecutive year of decreasing demand for gold ETFs. Investors sold $3bn worth of physically backed gold ETFs in 2022, a 3.4 per cent decrease to $202.7bn of global holdings at the end of December, according to the World Gold Council, a trade body.
Analysts say gold prices were still resilient given how fast the US central bank moved to rate rises thanks to record levels of central bank buying and strong retail investor demand as cryptocurrencies and tech stocks dropped.

Cont.

Stock exchanges in New York closed with gains on Wednesday after Boston Federal Reserve President Susan Collins said she would support a 25 basis point rate hike that would allow the central bank to "assess the incoming data before we make each decision." One of the most important economic reports for the Fed, the latest consumer price index data, will be released an hour before the stock markets open tomorrow.

The Dow Jones Industrial Average index was up 0.80%, or 269 points, at the close with Microsoft, its best performer, rising 3.02%. The Nasdaq 100 advanced by 1.76% as Lucid Group jumped 10.29% at the end of the trading session. The S&P 500 closed 1.28% higher. GE HealthCare Technologies pulled up the index after soaring 8.32%.

The euro was up 0.16% compared to the dollar to change hands for 1.07546 at 3:59 pm ET.

Baha Breaking News (BBN) / MS

Should see a positive day tomorrow

Some may find this interesting.

https://twitter.com/barrickgold/status/1613137252980236288?s=46&t=sOz4Cj-zQue9w5qKUz1cXQ

https://twitter.com/centaminplc/status/1613141452984385536?s=46&t=sOz4Cj-zQue9w5qKUz1cXQ

Thank you Mrtibbles and again remarked upon in another “influential column”.
I had both the premarket rant and the Telegraph article ready for posting at 7am but the LSE website was down, bleeping frustration, all I could do was go back to sleep.
Centamin’s ducks seem to be lining up nicely.
Previous sell targets and analysts predictions will all have to be reassessed if any half decent results appear from court or company.
Bol

Update: Centamin
The gold price is firming and so is the share price of Centamin, which is benefiting not just from fresh interest in the precious metal but also from better news from its Sukari mine last month.
This is most welcome as three years of patience with the FTSE 250 stock is so far yielding a low single-digit percentage capital return, thanks in part to subsidence at Sukari in summer 2020 and subsequent output disappointments.
An upgrade to measured and indicated resources at the Egyptian site represents the first such gain in excess of mine depletion in six years, extends the life of the mine and justifies the investment in additional drilling planned for this year.
The new exploration work and a pre-feasibility study in the Doropo site in the Ivory Coast are potential catalysts for performance in 2023, alongside any further gains in gold prices. Centamin could yet shine after three years of dull performance.
Hold.

https://www.telegraph.co.uk/investing/shares/mining-stock-could-worth-weight-gold/

Morning y’al no pre opening data this AM due to LSE outage still glad to share this comment on Centamin from today’s Telegraph.

I totally agree Rebess. The outcome of Saturday’s cc if it carries the correct ruling will by default make the Centamin cc void.
I’m sure Martin Horgan is delighted that the case is being heard a week prior to the company’s conference call.

Recent email from Superdry ir regarding your question.
————————-

Dear Xxxx,

Thank you for your email and your interest in Superdry.

In the last two years, we have released our interim results on 19th January 2021 and 20th January 2022, and are aiming for a release on a similar timeframe for the FY 2023 interim results.

I hope this answers your query.

Kind regards,
Hamza

Ken23 if I may.
Siko posted these two regarding the Centamin court case last November.
—————

Court Case

15 Nov '22

Hello everyone,
I'm in Egypt now..
Do you still remember the court case?
Do you remember how it has been suspended because of an appeal in the Supreme Constitutional Court (SCC) against law
32 which prevented appeals against state contracts?
Well, I have been told that the SCC has finally decided to deliver the verdict on 14th January 2023.

———————-
Court Case

15 Nov '22

Hi Steve,
The SCC commissioners report has not been published yet, which of course will give a big hint about the verdict.
Last time their recommendation was to cancel the law as they thought it was unconstitutional. Seems like the SCC did not like the commissioners recommendation and asked them to reconsider their recommendation and re write the report.
The SCC does not have to agree with the commissioners or accept their recommendation, but it would be odd to go against their recommendation.
If the SCC decides that law 32 is constitutional, then no one could appeal against state contracts, then Centamin court case gets cancelled altogether as if it never existed because the law applies to all existing cases where no final verdict was delivered.
If the SCC decides that law 32 is unconstitutional, then the Supreme Administrative Court (SAC) starts Centamin case again at the appeal stage.
Remember that the initial court ruling was only to limit the area allocated to Centamin to 3km sq area because no signed contract was submitted for the 162km sq area, which Centamin has submitted later during the appeal (I sent a link here for the signed contract).

Major stock indexes in Europe traded lower on Tuesday, as concerns over global economic prospects continued to linger. Despite some upbeat data reports that came in a day prior, bullish remarks made by certain Federal Reserve officials seemingly dampened the positive mood as interest rates are expected to remain in the restrictive territory for a while.

The DAX declined 0.40% at 8:00 am CET, while the FTSE 100 was flat at the same time. The Euro Stoxx 50 tumbled 0.87% at 8:01 am CET and the CAC 40 slumped 0.79% simultaneously.

The euro traded flat versus the dollar at 7:59 am CET, selling for 1.07342. The pound traded 0.07% below the greenback to go for 1.21713 at the same moment.

Baha Breaking News (BBN) / AY

Major stock indexes in Europe traded lower on Tuesday, as concerns over global economic prospects continued to linger. Despite some upbeat data reports that came in a day prior, bullish remarks made by certain Federal Reserve officials seemingly dampened the positive mood as interest rates are expected to remain in the restrictive territory for a while.

The DAX declined 0.40% at 8:00 am CET, while the FTSE 100 was flat at the same time. The Euro Stoxx 50 tumbled 0.87% at 8:01 am CET and the CAC 40 slumped 0.79% simultaneously.

The euro traded flat versus the dollar at 7:59 am CET, selling for 1.07342. The pound traded 0.07% below the greenback to go for 1.21713 at the same moment.

Baha Breaking News (BBN) / AY

Gold currently flat at $1872.00

Shore: Opportunities for Boohoo, but valuation ‘full’

Online fast-fashion retailer Boohoo (BOO) is performing better than feared and there remains some opportunity, according to Shore Capital.

Analyst Eleonora Dani retained her ‘hold’ recommendation, expecting some positive read-across from Next’s strong trading update last week, and the shares rose 3.3% to 40.25p.

Dani believes Boohoo will have ‘performed somewhat better than feared’ while still trading behind ‘multi-channel business models’.

‘While we think Boohoo played Black Friday relatively well, higher return rates will likely constitute a drag on profitability,’ she said.

‘Our outlook for 2023 is cautious, particularly for value offers, but we continue to see an opportunity in Boohoo, which we prefer over Asos. However, with shares trading on a full-year 2023 enterprise value/Ebitda [multiple] of 7x, we see the valuation as full, noting a lack of catalyst in the short term.’

Shares in Europe traded lower in the premarket on Monday ahead of the important data on the unemployment rate and investor confidence in the Eurozone, as well as industrial production in Germany.

The DAX went up by 0.25% at 8:00 am CET. At the same time, the FTSE 100 rose by 0.31%. The CAC 40 gained 0.48%. The European Stoxx 50 advanced by 0.58%.

The euro grew by 0.34% against the dollar at 7:58 am CET to sell for $1.06824. At that minute, the pound sterling increased by 0.43% against the greenback to change hands for $1.21468.

Baha Breaking News (BBN) / JR

Happy Monday y’al

Shares in Europe traded lower in the premarket on Monday ahead of the important data on the unemployment rate and investor confidence in the Eurozone, as well as industrial production in Germany.

The DAX went up by 0.25% at 8:00 am CET. At the same time, the FTSE 100 rose by 0.31%. The CAC 40 gained 0.48%. The European Stoxx 50 advanced by 0.58%.

The euro grew by 0.34% against the dollar at 7:58 am CET to sell for $1.06824. At that minute, the pound sterling increased by 0.43% against the greenback to change hands for $1.21468.

Baha Breaking News (BBN) / JR

Happy Monday y’al
Gold currently + .57% $1878.01

Dividends shine as gold stays strong 
Centamin is another dividend paying gold miner. Based in Egypt, the company has grown from a cash-strapped exploration business in the 1990s to a fully-fledged, profitable producer today, generating more than 400,000 ounces of gold each year.
Midas recommended the shares in 2015, when the price was 62p. 
Today, the stock is £1.26 and should deliver attractive rewards over the next few years. 

Recent times have been hard for this business. Annual production exceeded 500,000 ounces in 2016 and 2017, but output fell as the company faced operational and production issues. 

New management came in during 2020 and the group then embarked on a serious investment programme at both of its mines, open pit and underground. The shares, which had climbed to more than £2.30 in 2020, plummeted to below 80p last year amid concerns that the company would deliver little or no growth as the business regrouped under new boss Martin Horgan. 
Today, the outlook seems much brighter. Horgan has a history of success in the gold mining industry, he has addressed investment challenges head on and the results should steadily improve over time. 

The company is targeting sustained annual production of 500,000 ounces or more from 2024 and costs are expected to fall as big investment programmes come to an end and canny decisions make their mark, including the use of solar power to cut energy bills. 

Even as Centamin has experienced operational turbulence, dividend payments have continued, with 5 cents expected for the year just ended, the same again forecast for 2023 and the chances of higher payouts thereafter. 

MIDAS VERDICT: Investors who bought in 2015 have doubled their money and received a decent stream of dividends too. They may now choose to sell some stock and bank profits while the gold price is high. Long-term holders may prefer to keep the faith, however. Horgan is a shrewd operator, gold is a handy addition to any portfolio and this business should gain ground in the coming years, handing out dividends all the while. 

Traded on: Main market Ticker: CEY Contact: centamin.com or 01534 828700. 

https://www.dailymail.co.uk/money/investing/article-11609587/MIDAS-SHARE-TIPS-Caledonia-Mining-treasure-trail.html?ns_mchannel=rss&ns_campaign=1490&ito=1490

Equities in Europe traded higher in the premarket on Friday ahead of a series of fresh economic reports, which include those on consumer confidence in the Eurozone and a preliminary one on inflation, factory orders in Germany, and house prices in the United Kingdom.

The DAX grew by 0.53% at 7:00 am CET. At the same time, the FTSE 100 rose by 0.30%. The CAC 40 gained 0.56%.

Both the euro and the pound sterling stood flat against the dollar at 7:19 am CET to sell for $1.05188 and $1.19160, respectively.

Baha Breaking News (BBN) / JR

Happy Friday y’al
Enjoy your weekend.

Equities in Europe traded higher in the premarket on Friday ahead of a series of fresh economic reports, which include those on consumer confidence in the Eurozone and a preliminary one on inflation, factory orders in Germany, and house prices in the United Kingdom.

The DAX grew by 0.53% at 7:00 am CET. At the same time, the FTSE 100 rose by 0.30%. The CAC 40 gained 0.56%.

Both the euro and the pound sterling stood flat against the dollar at 7:19 am CET to sell for $1.05188 and $1.19160, respectively.

Baha Breaking News (BBN) / JR

Happy Friday y’al
Enjoy your weekend.

Equities in Europe traded lower in the premarket on Thursday ahead of the freshest reports on Germany's trade balance, the United Kingdom's services and manufacturing sectors, and the euro area's producer prices. The markets also reacted to the United States Federal Reserve speaking against cuts in interest rates and in favor of new rises in 2023.

The DAX traded 0.23% lower at 8:04 am CET. The FTSE 100 fell by 0.12% at 8:00 am CET. At the same time, the CAC 40 dipped by 0.08%. The Euro Stoxx 50 declined by 0.13% at 8:01 am CET.

The euro stood flat against the dollar at 7:58 am CET to sell for $1.06058. At that minute, the pound sterling lost 0.27% to the US currency to change hands for $1.20256.

Baha Breaking News (BBN) / JR

Equities in Europe traded lower in the premarket on Thursday ahead of the freshest reports on Germany's trade balance, the United Kingdom's services and manufacturing sectors, and the euro area's producer prices. The markets also reacted to the United States Federal Reserve speaking against cuts in interest rates and in favor of new rises in 2023.

The DAX traded 0.23% lower at 8:04 am CET. The FTSE 100 fell by 0.12% at 8:00 am CET. At the same time, the CAC 40 dipped by 0.08%. The Euro Stoxx 50 declined by 0.13% at 8:01 am CET.

The euro stood flat against the dollar at 7:58 am CET to sell for $1.06058. At that minute, the pound sterling lost 0.27% to the US currency to change hands for $1.20256.

Baha Breaking News (BBN) / JR