Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
Hi Polythene Pam
1. There is a possibility that gold tops out this week. If it does and we see a retreat it is likely to rally again later in the year and could go higher. If you sold some you could be a trader and jump back in, but do not expect it to be at 80p as a price re-entry for centamin as an example. Some of us regard this kind of move as creating free carry profits. (If you bought at 102p and ran the lot you sold again for another run to 120p you would have gained on that stake again.
2. A profit is a profit whenever you book one and trying to get a top and bottom price on any stock is a mugs game.
3. Always have exit strategies for any investment.
4. Always have a watch list for other investments.
5. Company CEOs and CFOs can screw up any company. It is truly amazing the fouls up they can make and they can come out of the blue any time. Hence never have all the investment eggs in one company basket.
Tony
Steve for anyone buying 1 ounce gold coins in late March, they have recovered all the premium and are in profit. If they bought a coin at the beginning of 2023 they are 40% up. In fact in 2022 you could buy 7 one ounce gold bars for £10,000 and today it is just 5. I wonder what this rally is telling us. We should know more next week. Gold daily RSI 84. Weekly RSI now at 77.
Down to 15 for RBW. Inverse of gold were the daily is going for 84.
Can not buy any more just tried.
Can not admit being a shorter on the stock just pumping out garbage to support the position. See this many times before.
Reetech
There is not a brilliant and perfect rare earth company out there. Why be so pedantic and aggressive towards the company. It was interesting that you posted another company doing what rainbow rare is trying to do with K-Tech. If anything it gives confidence that the project is on the right future track. Can you tell us if you are an investor here or not. If you are shorting this stock be honest about it. Incidentally find me a CEO who does not sell their company to would be investors, they all do it unless they are solely a private company owner. Tony
2281-2285
2257-2267
2238-2249
2187-2193
2170-2175
They always get back filled. Anyone missing this rally is missing the elevator drop later. If you made some money and have not predicted the the top be happy with the success you did get. Like playing tipping point. Enjoy the mystery prize and being in the game as long as you dared. Tony
(In the hospital yesterday, wife okay but it sure gave me a reminder of what is truly important).
Quite happy for gold to rocket Steve. However, I sometimes wonder about the consequences generally when it does. I also have enjoyed a great run on the gold miner ETFs, CEY, HoC, Shanta Gold and more recently FRES. Have sold them all on the early side but have another positive year on the portfolio.
The pump and dump game is only a possibility and it is not just gold, a lot of things have stretched valuations at that moment.
When everyone gets on one side of the boat I often become a bit more contrarian. Sentiment is so high that the greed indicator is sky high and fear is near zero.
I hold a small position in Shanta with no votes attached and await to see the outcome. If the institutions voted against then I assume they will buy more shares and if it goes ahead there is a 4.5% to bag in just a few months which equals best bank rate for that time period.
Unless I am mistaken, the reserve grades of ore have dropped significantly from last year. I recall it being 2.97g/t very close to 3g/t. Now down 2.7-2.88 g/t. At 2.4g/t Luika needs a new ball mill and kit to deliver more ore and production goes down to say 56k ounces. They are signalling Luika is an old complex probably with 6 years mine life. Strong message to institutional holders to agree a deal. Kenya assets still do not have a mining licence granted and they will want to deal with a private company is the hint on that recent approval. Gold likely to have hit a spring time peak and may go on a retreat. All the best Tony
Radomski bought a gold long yesterday on Gold eagle news. End of the rally.
The gold price has moved £105 an ounce since 20 March only two weeks ago. The last two occasions this kind of increase arose arose was after the Brexit vote when the UK currency dropped significantly and during the August gold rally peak that formed in 2011. Zero hedge has a gold article tonight trying to work out what is going on as so many sources are not buying gold and some are selling into this rally.
The precious metals recycling especially gold will be loving this. The physical gold buying outside of China has collapsed. This is a paper gold price not a physical buy. It is one thing to have daily overbought at 80 RSI to have the weekly over 75 is nuts. The miners will get hit if the jewellery business stops taking gold orders. The rise is to much to soon. A semi detached house in many parts of southern UK is now under 400 ounces last arose back in 2011. An indicator that gold is becoming expensive.
I am out with gold weekly RSI approaching 75 it will retreat at some point. Like running in front of a steam roller to grab a few pennies.
Gold RSI Daily 79.3 Gold RSI weekly 74.51. Stochastics have been on 100% for awhile. As night follows day this will severely correct. Gaps in the charts all over the place for a number of gold miners and ETFs. They always back fill when we have no RNS. Last few days of the rally and it can retreat any time and it might do a quick double top and go back down. Time to take profits imop.
Taken a chunk off for nearly 8-10% profit. This look a top of the market peak going through. Still have a good slice on and watching where this goes.
Steve, I have lost track of how many times gold and Centamin have peaked in the first two weeks of April. Selling off at this time has made me a packet in the past. Some kind of double top in gold and then we go down in hundreds. Lovely cheap Centamin shares say in six to nine weeks. Tony ( lets see if I get it right again)
Sold off remaining Centamin. Will be back in after the inevitable big pull back. Not trying to get the exact top or bottom.
It allows smaller share holders to manage HZM share losses over two financial years. In the UK the capital gains tax limit is only £3,000. Two years ago it was more like £12,500. The HZM loss is being used as a CGT asset against likely gains in other parts of their portfolio.