RE: WEIRD DAY6 Jan 2020 22:42
I too thought we would get off to a flyer but whereas the dollar Gold price is now up 2.71% the GBP Gold price is virtually unchanged. However whilst the World is uncertain of next events I do not see the Gold price falling away quickly. Today we appeared to hit an upward resistance at the USD1588 level, but if we do break through that level I feel we will rise further to a higher level.
The Endeavour supporters who were CEY shorters started to get very worried in early trade buying back and reducing their shorts, but later om they could see there was no panic for them as they went back short once more. I do not feel we will see much change for a few days until another World event takes place. However the current Gold price is in a good position for Centamin to provide a very healthy set of year end figs, and pay a very generous divi, or share buy back to retain independence in fact I am sure Endeavour would not have anticipated all of the Gold price rise.