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Well it happened when NY opened, whatever it was. A strong boost to the dollar index and an increase in the $pog which suddenly went in reverse and swung sharply the other way. Much more than a gold dollar trade-off however. Gold up in sterling and euros by around 1% in the day.

for �7.50 about five years ago. I have been in and out of it since then, usually at a profit. This time around I sold about two thirds at �12 and held on to the rest. My view is that the civil engineering government outsourcing is a bit of a mess, together with some other areas of government outsourcing, which has resulted in low margins. You all know about Carillion and Capita. Stagecoach and Virgin on the East Coast Mainline are another example The government must be aware of the nature of this problem which is placing too much of the risk taking in uncertain situations on the private sector and creating a bidding system which squeezes margins. Renationalisation of some of these services may be a good idea to resolve these difficulties in some cases, but not, I think, in the case of civil engineering and public sector building. The question is, will the government continue to manage the bidding in such a way as to squeeze the private sector, or will they ease back to allow the sector to recover.

Women are just as good at investing as men, but is the testosterone that draws us to the share market

Hi Carzy, UnfortunatelyIi don't know anything about SOU so it is difficult for me to advise you. I am holding quite a lot of CEY at the moment and intend to carry on doing that for the next few months at least. If you are genuinely unsure, why don't you sell 10% of each? Sotolo, I see your counterindicator is talking gold down at present. Good news!

Or even more difficult - real positive after tax interest rates

UK inflation is tailing off now as the result of a lower value for the pound has fed through an annual cycle now, and as the pound starts to regain some strength. This recovery in the � is unlikely to be strong because of Brexit uncertainties, but I think inflation will drop back towards the target rate of 2%. Only gradual increases in UK base rates are likely - about 1/4% at a time. US rates may be another matter. Trump likes low interest rates because he likes to help corporate borrowing. It also puts continued downward pressure on the dollar which is good for jobs - a key deliverable from his manifesto. The expansion of the US economy may put some inflationary pressure on the Fed to increase interest rates however. Even after yesterdays drop, the DOW is still over 20% higher than it ws a year ago. By contrast, the FTSE has dropped to roughly the same level it was a year ago (which is a 3% drop in real terms).

is not displaying correctly here on LSE. I know its a difficult day on the ftse today, but get your act together guys!

Rebess, the whole market has been marked down with nearly all sectors affected. This is a knee jerk reaction to the DOW drop and the Far East market reaction to that. The city is following its normal approach: panic first and think later. I still don't know what they are going to think about gold. It could go either way.

which may account for some of the recent fall. The big drop in the DOW is translating into a fall in the ftse today, but what will it do for gold. On the face of it fears about higher interest rates ought to move shares and gold in the same direction - down. On the other hand there is always the safe haven argument and $pog is up1% and �pog 2% so far this week. Could be very interesting. Sotolo, our counterindicator could be right for the wrong reasons! Or spectacularly wrong

Well.... �pog is up today, but not particularly high. It has mostly been above this level over the last year. But then the counterindicator seems to have come up with a flawlessly stupid reason for his move. Having had a fairly bad trading experience over the last couple of months, I am holding all my shares for a while unless something clearly disastrous comes up and taking the consequences whatever they may be.

Gold has been falling since Jan 5th in JPY, Jan 10th in EUR and Jan 11th in GBP (relative to recent high points). It started falling in US$ from Jan 25th. The DOW reached its high on Jan 26th. The dollar index dropped sharply below 90 on Jan 23rd. The change in trend emerges in $ just over a week ago, European stock markets peaked a few days earlier. I think it is difficult to interpret what is going on in the markets based on events on Friday last week. Some new trends appear to be emerging throughout January. The dollar index fell just under 3% in January. The $pog went up just under 3% in January. The dollar index adjusted proce of gold (DIAPOG) has therefore been flat during the month.

Hi Tucson. Unfortunately I got back in but at a much higher price! Low 900s. I am holding for the medium term. I think you should probably adjust your model for the �/$ exchange rate which will lower the expected sp

forecasts for 2018 on my accounting model and it comes up with an eps of 18c at the current $pog after depreciation and profit share to the Egyptian government. This would give a share price of 190 with a modest P/E of 15 at the current �/$ exchange rate. Of course both the $pog and the �/$ rate could go anywhere over the next year!

an epsforecast of 9.3c, pretty close to the 9.5c actual. I will plug the forecast numbers into the model to come up with a profit forecast range for 2018 later today. Of course it gets more accurate later in the year as the av gold price and actual output outturn become clearer.

They sold the old mines and developed some new very low cost open cast mines going massively into debt in the process, then the copper price recovered and the markets started to realise that the mines were going to be successful and after a few years paying the debt down somewhat they would be able to offer a decent dividend.

net proceeds of the new bond issue has gone to pay off overdrafts. So that one is settled at least. I think this a good "steady as she goes" RNS and I am quite encouraged.

�pog 946 on 12/0718. �pog 951 on 26/01/18. Makes lots of sense. The sp is in pounds, so the the �pog is the right price to make comparisons

are wonky today, and price on the main page was also wrong last night. There must be a glitch.

nvrgiveup, can I congratulate you on your remarkable cogency whilst under the influence. The bonhomie is of course to be expected. Contrarian/Kenj, I have enjoyed both your posts in the past so keep them coming. Bond conversion? i have been too lazy to revisit this issue but it is of course becoming very relevant again. Whatever happens, the share price is enjoying a good run and we are higher than at any point since 2016. Raise a glass to that and smile!

lemmink, the share price is in pounds sterling. As I argued in my post yesterday, the price of copper is going down in poundsd so the profits in pounds will also be lower. Starting with the Brexit vote last year foreign miners had a massive boost from the weak pound. We are going through a reverse process this week as the pound rises ( against the dollar anyway). Bottled, thanks for the offer. I am sometimes down in London. What do you make of the kerfuffle over at CASP?