Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
I sense the Azeri Government has boiled the AAZ frog for sometime. They need to start moving on this to allow the company to earn income and grow the business. Hopefully AAZ will not be drawn into other ventures abroad.
Currently Rainbow Rare is my largest portfolio investment outside of cash. May the recovery in SP continue.
Hi Mr Bond
With regards to my portfolio for this financial year, I have reduced it 18% overall thus far and put it into 5% interest fixed bonds. I am mainly in cash at present If Centamin does not pull back, I am likely to stay off and not chase the FOMO especially on the back of Chinese high roller speculators. For those holding I wish you all good luck. I will be writing less on the board as I hold no positions but will put in the odd message. Tony
No gold withdrawn from Comex yesterday. 32,000 ounces received as a deposit. Interesting to see how things now play out.
Looks like over 7 tonnes left Comex for delivery yesterday. 241,000 ounces of gold.
I suspect the drop to $2300 helped unload 8 tonnes of gold, 261,000 ounces out of Comex on Monday. Looks as if it may have gone to Hong Kong. More options to probably unwind in the next 24 hours. The delivery is equivalent to around 2% of global demand. However around 80% of global demand has shut down with the price action. Gold needs to find physical buying support in the coming weeks.
Centamin drop from 132p to 124p is in line with Gold retreat to date.
Not as bad as HoC but similar to Centamin on Q1 performance. 2-3% drop possible.
Pedro
As I only hold 4% of my Shanta holding Rainbow Rare earths is currently holding number 1 position in my portfolio. Rare earth sector has been utterly crushed in the winter months and is now on a bit of a rally. Everyone should do their own research of course and we do not know if Trump will support the rare earth sector. China has threatened to cut off the west as rare earths are used in missiles, drones, fighter aircraft and ships etcetera and its not just EVs and windfarms. Tony
Note for not.
121 to 121.6
112.9 to 113.6
109.3 to 110.9p
I am expecting all of these to get closed in the pull back. To not a gap above has been created and to note for summer rally. Ideally we do not want a rally to close that gap today to 126p.
As the options get sold back to bullion banks, physical order deliveries are not going to happen. Miners may well get a hit today. They are now reliant on the physical market to start buying coins and bars, jewellery or more central bank buying. Eventually that interest level will be met.
Earlier zero hedge articles I put on here were correct. Shanghai Chinese Future Options market in gold was capped over the weekend. We have seen today heavy selling in both gold and silver options. Likely to have heavy selling as we go through the week. $2300 gold unlikely to hold. Evidence of selling in the options market appears to have been taking place since 16th April. Gold rally for the time being is over and seriously over in silver.
Gold down $62 an ounce and unsure how this can hold up for much longer. Perhaps awaiting US open. Looks like options market are not taking physical gold deliveries.
A retreat in gold and silver is necessary. Very rarely do things go up in straight lines and go slightly parabolic. The rally has created future confidence in gold and silver and that will likely play through later in 2024. New highs are in place to broken at some future date.
Mr Tibbs
The entire issue is how one particular party rallied the gold price and ignored all other factors. It is not as if London, Shanghai and New York operated together to upgrade the gold price. It was only China. What may happen is that we see quite a drop in gold for two months and a gold rally over the whole summer unfolds where multiple parties work up prices together and physical jewellery buyers in June get a chance to re-stock on gold (which is often at the low of the year for gold). A rally has to be widely owned otherwise over time it will collapse as hardly anyone will make gold jewellery or sell gold coins and bars outside of China. Tony
Https://www.msn.com/en-gb/news/world/israel-s-strikes-do-little-damage-but-send-powerful-last-word-message-to-iran/ar-AA1nhRk1?ocid=msedgdhp&pc=HCTS&cvid=9ea8ffda094b46c9a950b9c1392e4d71&ei=37
Hopefully can de-escalate from here.
On the previous link.
Https://www.zerohedge.com/news/2024-04-18/ross-norman-golds-mystery-buyer
I agree with this article. Few minutes read.
So glad I averaged down when it was 9.4p. Still time tomorrow to pile more in.