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Paper, silver, and gold get a bad press; however, it's still the basis of how much you get for the physical!

Even after the sell-off of the past few months of both Gold and Silver, spot prices are still more than double where they were this time last year. Revenues are still healthy at these levels and, provided there are no further downward corrections in spot prices, and subject to no major shocks in production data due in July, profits will become apparent at the next set of results. IMO, the SP is currently in oversold territory.

I offloded 75% of my BP holdings over the last 90 days or so at prices which seemed totally out of reach only a few months prior. Long may the peace last. With the spotlight on oil supply constraints, BP clearly has a bright future. Good luck.

SP, therefore, disappointing - why?

PM's are up and have been steady in recent weeks. It's a little worrying about the weakness of the SP on a day when the miners are quite buoyant.

Spot prices are holding above levels where the markets are currently pricing the miners. At current levels, share prices should go higher, and if spot prices were to increase from current levels, shares will head north from current levels. imo

Should a negotiated peace plan be confirmed, inflationary pressures should ease, enabling the prospect of an interest rate cut by central banks.

Spot prices are holding up, and a late-closing trade valued at £2m at 5.91, should be very supportive. imo

Spot silver at 78.50 and gold at 4550. Still very profitable for HOC to justify a higher sp. imo.

Dollar strength is possibly the cause

At the start of trading today, HOC traded up to 703 ish before falling back during the day.

Post market close - Gold trading @ 4700, Silver at $89 plus. HOC ended the day plus 1.7%, slightly disappointing after opening 5% up at the open and slightly below its finish relative to its peers. Should be a strong open, providing PMs retain current levels.

Gold at 4500, silver at 72 dollars, at these levels the sp is well supported. All indications are that interest rates will ultimately fall, which would fuel PMs. Shareholders here need to keep the faith and take a 3-month view. IMO.

Ps just noticed a £16 million value order went through after hours - promising!!!

If production figures beat market expectations, the sp could fly, especially if there's an Iran Agreement at some point this week.

Meoryou

Yes, a very good point. I'm surprised it's not already on the table for the basis of discussion for some form of truce. Hopefully hostilities will soon cease, and we BP shareholders then need to brace ourselves for a correction in the sp?

Sold 30% of my holdings, equating to a 23% profit over an 18-month timeframe. Can't help feeling Trump will strike a deal to enable him to exit with a corresponding relief rally, possibly resulting in a lower SP? Happy to partly close at these levels and happy to still have exposure as BP's future prospects are looking promising. IMO. Good luck all.

Trump announced to the world only a few months ago, after the bombing of Iran's alleged nuclear installations, that they and Israel have dismantled Iran's nuclear infrastructure for many years to come. So a few months later, here we are again!

Let's all hope for a peaceful outcome, but should hostilities break out, I would imagine the SP would start heading north, but if a peace prevails, do we get to see a fairly substantial lower SP?

I suspect and hope the sp will continue to rise and over time be substantially higher than current levels. Fingers crossed!