RE: Gold price30 Jan 2021 10:26
Hi Sotolo,
Alas, as stocks, if there was to be another March2020 scenario, the same result would occur- pretty much everything got hammered along with CEY, so the the answer is NO- there was a rush to liquidity also, hitting gold too. However, cash rich etc, don't see CEY going under so can easily survive as their core product, gold is always a wanted product. The past 12months have been very interesting, many many times, lots of analysts have said sell- more pain to come, but each time the markets get going up (blips in June and Oct). At the time from April I posted on other boards, no crash, as stimulus, low rates, most "listed companies" have deep pockets esp with govt help (eg furloughs, loans etc) and could keep going. Many analysts got whacked and lost their clients a lot, a real lot of money on the rises. The scenario now is still more stimulu with low rates, and with the vaccine rollout in full swing and another one being announced last week, recovery is more clear (although as efficacy slightly less not received as well). People need somewhere to put their money with poor rates at banks and the non-listed companies who dreadfully went, and continue to go under, get mopped up by the bigger surviving companies, and when the customers return in greater volume, they will make more with their increased market share. The last week, the markets have taken a dip, some would say given some back correctly (retail investor thing and vaccine likely trigger), but will it be like last March? Unlikely, as back then the new virus appeared and no one knew much on it's transmission, who would be most badly impacted and how many, and whether or not there would be a vaccine quickly- Bill Gates said 10years... timing is everything, and how so many of us wish we bailed last Feb2020, gone back in April 2020 etc etc- hindsight eh?! For CEY, we need the markets to be up. Good luck, I'm holding here and see no reason to sell, especially with all this retail investor mucking around going on- bid on gold anyone lol. Plus with a more settled market in the future, I see gold rising over time, good for us here.
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