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From yesterday...gold STOCKS tend to get sold off along with everything else when folks are nervous...ie..Syria Gold prices rise but miners plunge • 5:15 PM Gold (GLD +0.9%) benefited from today's risk-off investment climate but gold stocks are stocks first and gold plays second, as the miners (GDX -4.2%) finished among the day's worst performers; they also tend to get hit hard by rising oil prices.
Anglo American Plc (AAL) Chief Executive Officer Mark Cutifani will need to splash out on fine wine in October when he loses a bet that the Kibali mine won’t produce gold this year, Randgold Resources Ltd. (RRS) CEO Mark Bristow said. “It’s still on track and it’s still within budget,” he said yesterday. “I’m in no doubt that Mr. Cutifani is going to have to cough up for a very expensive South African red wine.” The two made their wager on when output would begin at the Democratic Republic of Congo mine two years ago at an investor conference in Miami when Cutifani was the head of AngloGold Ashanti Ltd. (ANG), like Randgold a 45 percent owner of Kibali. Cutifani offered to buy South African wine if it produced gold this year and an Australian vintage if output began in 2014. Bristow is South African and Cutifani from Australia. http://www.bloomberg.com/news/2013-07-10/anglo-ceo-to-cough-up-for-fine-wine-on-gold-wager-bristow-says.html
Blt....thanks for the heads up..been watching rio!....'Come On Murray' http://www.goldmadesimplenews.com/gold/are-gold-bottoms-born-on-the-4th-of-july-11120/?utm_medium=email&utm_source=Goldmadesimple&utm_campaign=2794628_Goldmadesimplenews108&dm_i=GR8,1NWCK,8BQGSZ,5UDAH,1
Goldstone Resources and Randgold start drilling at Sangola By Philip Whiterow June 24 2013, 7:36am Sangola is bisected by a major gold bearing shear zone known as the Main Transcurrent Shear Zone. Africa focused gold explorer Goldstone Resources (LON:GRL) says drilling has started at its Sangola project in Senegal, where it recently partnered with Randgold Resources (LON:RRS). Major gold producer Randgold has now commenced a 6,000 metre reverse circulation drilling programme to target the Tiobo surface anomaly. Tiobo is one of three elongated surface anomalies identified by Goldstone at Sangola. One of the others, Tiabedji, was partially explored in 2012. Under the terms of the joint venture, Randgold will fund all exploration costs at Sangola up to and including a pre-feasibility study indicating an economically attainable one million ounces of gold. In return, Goldstone’s stake will dilute to 49%. Sangola is bisected by a major gold bearing shear zone known as the Main Transcurrent Shear Zone (MTZ). This shear zone is host to Randgold's 3mln ounce Massawa deposit, which lies 30 kilometres towards the north-east of the Sangola licence area. http://www.proactiveinvestors.co.uk/companies/news/58295/goldstone-resources-and-randgold-start-drilling-at-sangola-58295.html
..lol..a man after my own heart!.. Got my pants burned this time though!....yeah shorts will have to go long at some point!... Cant stay in short trousers forever!... Well done or your ins and outs!...
Know depends on gold...but anyone care to guess just how low they think this will go!...
Really....how many shares is that for!!!!!...lol..blackrock have just exceeded 15%... I think....They dont have the best track record in my view!!!!,
I thought it was St Ledgers!... Lol
Guess only time will tell! http://www.bloomberg.com/news/2013-06-11/gold-triangle-signals-price-drop-to-1-250-technical-analysis.html?
THink theres a blockage in that fuel pipe!!!!...lol..ATB
Gold Mining Hedges: Bad For Gold Investors? As if gold investors didn’t have enough to worry about, now comes the possibility that gold mining companies, by putting on hedges, will bet against investors’ hopes of recovering this year’s losses. Gold producers are under pressure to hedge against potential further declines in gold prices, according to recent news reports. That action in itself, which involves pre-selling gold at a set price now, by its nature is rarely conducive to pushing prices higher. But after watching gold plunge some 17% this year alone, some miners want to reduce the risk that prices will be even lower later this year. For example, Petropavlovsk PLC, a Russian-based FTSE-250 miner, is hedging half of its second quarter 2014 production at $1,408 an ounce, according to The Telegraph newspaper. http://www.forbes.com/sites/ycharts/2013/05/30/gold-mining-hedges-bad-for-gold-investors/
Lol...no one seems to know where its going ATM....remember several kept saying £80...still waiting on that one 18months later!!!
Gold Has Double Topped... May 09 at 09:42 GMT 35 minutes ago Gold has Double Topped at the 61.8 Med term Fib and therefore we have every reason to believe we are going to trade a lot lower in this market. We are overbought on the daily charts and therefore we look to sell into any strength evident with 1486/87 seen as the topside and we would then keep any stops above 1493 as we do not expect Gold to trade this high. Now as we have a target of 1424 that is not to say that the market will go there in one move, even though we can see this sort of decline....There is more of a chance that we will hover in the 1445 area to unwind any short term oversold conditions. http://www.forexspace.com/forex-insights/2965/gold-has-double-topped?utm_source=forex-insights&utm_medium=rssfeed&utm_campaign=news_now Maltman....thanks for that..will try and have a look
The cat that got the cream! Thanks for the reminder!
Coppers worth a bob or two more!
Are you going to enlighten me?... Or have I got to find out for myself?