Gold

[JBmurc]

“Investors are selling anything with a bid and running for cover, and that includes typical hedges like gold,” said Brien Lundin, editor of Gold Newsletter.

“We saw similar behavior during the 2008 financial crisis, however, and once investors understood and appreciated the scope of central bank stimulus coming down the pike, they began buying gold,” he said. “The price more than doubled from the lows thereafter.”

https://www.marketwatch.com/story/theres-a-simple-reason-that-gold-is-falling-along-with-coronavirus-afflicted-global-stocks-2020-02-28

[Aaron]

Back to $1,600, haven't sold. Ignoring the noise but I guess anything can happen. Hopefully Brien Lundin is right.

[airedale]

https://thepatientinvestor.com/index.php/2020/03/02/gold-why-is-it-falling/
Another measured response from Colin Twiggs.

[Aaron]

https://thepatientinvestor.com/index.php/2020/03/02/gold-why-is-it-falling/
Another measured response from Colin Twiggs.

sadly members only on your link. POG going better today, so far anyway, hope it flows through to the miners.
As I write this I realise "hope" is part of my speculative strategy, which is concerning.

[airedale]

Hi Aaron, Twiggs said that the recent fall in POG is due to traders selling anything to meet margin calls. His advice was still to buy the dips, and last nights fed cut of 50 basis points will further strengthen that advice.

[Crypto Crude]

Balance has very vocal opinions on cryptocurrency as a scam...
I'm very interested to hear what he has to say about this?
Balance?
https://www.google.com/amp/s/www.cnbc.com/amp/2020/03/06/as-gold-prices-gather-momentum-scammers-are-looking-to-capitalize.html
:cool:
.^sc

[Aaron]

Balance has very vocal opinions on cryptocurrency as a scam...
I'm very interested to hear what he has to say about this?
Balance?
https://www.google.com/amp/s/www.cnbc.com/amp/2020/03/06/as-gold-prices-gather-momentum-scammers-are-looking-to-capitalize.html
:cool:
.^sc

I haven't read his argument against cryptocurrency but this article isn't about the validity of gold as a currency but about how people try and rip you of when you want to buy it. People will always have more faith in fiat money backed by govts (which in this day and age is just on a computer) rather than crypto currency created by some individual(s) somewhere. I would have thought crypto's would also be as unlimited and as worthless as govt currency (not worthless yet but about to get tested in the near future) I understand bitcoin was limited by the programming and blockchain programs possibly provide an audit to avoid tampering but people don't even understand money that we already have, it is hard to see them having faith in cryptos.
That said I am a dinosaur so who knows.

[Bjauck]

NZD gold shooting up to over $2700/oz. I wonder if we will see $3000 this year.

‘My old holding - NCM Newcrest - has had a good rise today!

[ynot]

NZD gold shooting up to over $2700/oz. I wonder if we will see $3000 this year.

‘My old holding - NCM Newcrest - has had a good rise today!
Easy see $3000

[Aaron]

QE5 was supposed to put a rocket under the price of gold.

If this article is correct Thursday was one big margin call which will affect everything as everything gets sold to cover margin calls. That is the theory we were working on the other day.

Hanging tough on my gold producers, the price of oil is a positive for them but I guess if US shale producers go to the wall fairly quickly the price of oil will jump back up.

Here's hoping the price of gold jumps back up or I will be watching 100-150% gains evaporate pretty quickly and after that I get really scared and sell at the bottom.

[JBmurc]

AUD GOLD $2500oz now with 97% chance FED goes to zero next week GOLD will spike hard I see AUD $3k mid year if not sooner ... Mass FEAR will TURN to GREED very soon as CASH under the mattress won't look to smart when the BUYERs chase the LONG term NO FEAR Holders .... I'm certainly not giving up any of my Gold companies at these insane levels ...

[Aaron]

Hey JBmurc looking at

https://goldprice.org/

Not sure if I am reading it right but gold seems to be bouncing but my producers EVN, NCM, NST & RMS getting hammered again today.

I would like to take the plunge but I already have a lot of my portfolio (for a speculation) in these companies (and suffering badly). I wonder if there is a gold futures site where I could get an idea of likely overnight price movement for gold.

Your thoughts on the immediate outlook for the price of gold and company share prices would be appreciated.

[JBmurc]

Hey JBmurc looking at

https://goldprice.org/

Not sure if I am reading it right but gold seems to be bouncing but my producers EVN, NCM, NST & RMS getting hammered again today.

I would like to take the plunge but I already have a lot of my portfolio (for a speculation) in these companies (and suffering badly). I wonder if there is a gold futures site where I could get an idea of likely overnight price movement for gold.

Your thoughts on the immediate outlook for the price of gold and company share prices would be appreciated.

My fav site to keep up to date with exact PM prices in AUD (which all your companies invested will be selling GOLD in)
https://goldprice.org/gold-price-australia.html

Well what we have currently is a FEAR induced selling of shares across the board investors needing to liquidate

[Joshuatree]

Its bizzare. NST down another 17 odd % today!:confused:

[JBmurc]

https://www.youtube.com/watch?v=n_h-5H421MA

explains how the Big futures traders control the price of the PM's nothing to do with demand or production

Who controls the paper price >> the 4 Biggest traders are short 39% of all GOLD some 56 days of production ...

[Aaron]

Should have gone with my gut and bought yesterday afternoon. Missing the bounce today but I am too chicken so likely I will buy eventually but miss most of the rebound.

[Joshuatree]

Call $5 up a bounce:scared: after re a $113 drop from the 9th?What entrails are you stirring?

[Aaron]

Call $5 up a bounce:scared: after re a $113 drop from the 9th?What entrails are you stirring?

I should clarify, not the POG but companies like NST have had yesterday's falls cease. not sure the terminology to use maybe a wee bounce back, a hop, skip or jump from yesterdays carnage.

[Joshuatree]

Thanks. If you have conviction on Gold and Goldies buy near a bottom, trying to pick bottoms only gives dirty fingers so to speak.

[Bobdn]

Gold bugs take a bow! In NZD terms (now that the NZD is worth next to nothing) gold has just this moment reached an all time high at NZD $2655 an ounce. Great stuff and shows the power of diversification.

I have 9.5 per of my net worth (financial assets) with the Perth Mint Gold Fund and have built up my position over the last two years on the "advice" of investing legend Mark Mobius.

In NZD terms gold has increased 35% over the last year.

[Bobdn]

https://www.youtube.com/watch?v=tkVyVzqNtos

Wayne Gordon, executive director for commodities and foreign exchange at UBS Global Wealth Management, talks about gold, the dollar and oil. He recommends buying gold.

Not that that advice is all that useful for New Zealanders. Looks like most bullion dealers have now run out of gold and silver.

[Bjauck]

https://www.youtube.com/watch?v=tkVyVzqNtos

Wayne Gordon, executive director for commodities and foreign exchange at UBS Global Wealth Management, talks about gold, the dollar and oil. He recommends buying gold.

Not that that advice is all that useful for New Zealanders. Looks like most bullion dealers have now run out of gold and silver.
A field day for NZ bullion suppliers. I think some dealers have increased the minimum purchase quantities too. So small investors have been put to the back of the queue. Unlike toilet paper, gold is being reserved for the big stockpilers! Although to be honest it would be less effective for cleaning the derriere.

[SPARKY]

how do those interested in gold feel the producers will be affected by the virus. I fear the impact on producers and developers may not have been factored into the share prices yet. IE. Many of the mines are fly-in fly-out , Will they be impacted and how badly?
i am Housebound (nearly) now, (too old ), so will likely spend more time trying to gain a few $ playing Mr market. BEAR, BBUS, BBOZ, among others
cheers, and be careful out there, too many people are not taking this seriously enough,

[Aaron]

how do those interested in gold feel the producers will be affected by the virus. I fear the impact on producers and developers may not have been factored into the share prices yet. IE. Many of the mines are fly-in fly-out , Will they be impacted and how badly?
i am Housebound (nearly) now, (too old ), so will likely spend more time trying to gain a few $ playing Mr market. BEAR, BBUS, BBOZ, among others
cheers, and be careful out there, too many people are not taking this seriously enough,

Could be bad but most of the workers will be younger so it might be like a bad dose of the flu for most of them. I would generalise that mine workers are probably the sort not to take it seriously and to not take care so more likely to get infected and spread it. Debt levels and any need for finance may be more terminal for any companies in the near future. If oil is down and the POG recovers then it could work out quite well. I would not really know and I am just making assumptions/guesses.

[Stranger_Danger]

how do those interested in gold feel the producers will be affected by the virus. I fear the impact on producers and developers may not have been factored into the share prices yet. IE. Many of the mines are fly-in fly-out , Will they be impacted and how badly?
i am Housebound (nearly) now, (too old ), so will likely spend more time trying to gain a few $ playing Mr market. BEAR, BBUS, BBOZ, among others
cheers, and be careful out there, too many people are not taking this seriously enough,

This is an important question, and a bit of an unknown. At one extreme, mines could close for a while because of an outbreak or an inability to get miners.

On the other hand though, these jobs could become extremely attractive. A lot of retail workers - whether they admit it or not - probably like the idea of getting Government money for a few months, even if it is slightly less than their wage. For mining workers, I suspect it will be a LOT less than they're used to.

Additionally, two drawbacks of the job have been remote locations/isolation and, in many cases, FIFO and being away from families, as often the partner and kids don't want to be living in the middle of nowhere, and the high wage allows them to live somewhere more conventional.

It is possible in a Coronavirus environment the location and isolation is suddenly an upside, and some of the families want to come along for the ride!

So yeah, I can see it both ways. I could see mines closing and people not wanting to work. But think about it - this is one of the few industries where the product is in higher demand and increasing in price. It also pays pretty well. I could also see an environment where people are MORE keen to work in these jobs and live in these areas than they were before.

The truth is, like so many things currently.....we just don't know.

[JBmurc]

Gold bugs take a bow! In NZD terms (now that the NZD is worth next to nothing) gold has just this moment reached an all time high at NZD $2655 an ounce. Great stuff and shows the power of diversification.

I have 9.5 per of my net worth (financial assets) with the Perth Mint Gold Fund and have built up my position over the last two years on the "advice" of investing legend Mark Mobius.

In NZD terms gold has increased 35% over the last year.

Great work AUD just about as weak which is just insane as Aussie is the biggest Gold exporter in the world ... AUD Gold $2600oz !!

Mines closing well one would think the miners would have programs in place...many base metal miners might well go on C&M as prices are so low hardly any margin much like the O&G producers..

For sure Gold miners would be doing everything possible to keep operating

I personal work on a fishing vessel and hope people keep eating !!!!!

[JBmurc]

Barrick Gold is projected to have $9.5 billion revenue, $1.3 billion net income and nearly $1 billion free cash flow. They’ve reduced debt 75% and raised it’s quarterly dividend 40%. #GOLD miners will be one of the only industries showing strong earnings growth this year. $GOLD

[airedale]

I have 4 OZ gold stocks on my watchlist of 48 stocks and the goldies are the only ones showing positive today.

[JBmurc]

I have 4 OZ gold stocks on my watchlist of 48 stocks and the goldies are the only ones showing positive today.

Yeah wish I shifted to Gold producers sadly holding Explorers which of course have been smashed .. only positive is AMG,MEU,RXL all have production plans i their sights and will re-rate much higher .. CWX far to good of ground and J/Vs with majors to stay this low forever ...

Personal think COVID19 will be cured this year maybe even the worse over pre - mid year ... but economics will take much longer as the Virus was just the icing on the cake to the DEBT bomb and bubble economics we have in place ..inflation is coming forced by Central banks QE

[Bobdn]

Thanks JB but just to be clear I've lost a ton of money overall. I went into this meltdown with 52 per cent shares. Gold is really the only bright spot. I do find that gold helps my mental health. In dark times I think "there's always gold!" (assuming the Perth Mint doesn't collapse and I can sell my PMGOLD units).

This appears to have helped the gold price:

https://www.cnbc.com/2020/03/23/fed-announces-a-slew-of-new-programs-to-help-markets-including-open-ended-asset-purchases.html

[Aaron]

Yeah wish I shifted to Gold producers sadly holding Explorers which of course have been smashed .. only positive is AMG,MEU,RXL all have production plans i their sights and will re-rate much higher .. CWX far to good of ground and J/Vs with majors to stay this low forever ...

Personal think COVID19 will be cured this year maybe even the worse over pre - mid year ... but economics will take much longer as the Virus was just the icing on the cake to the DEBT bomb and bubble economics we have in place ..inflation is coming forced by Central banks QE

Still time to buy. Looks like gold caught a bid after QE to infinity last night but surprisingly it looks like the S&P might end down this morning. The Fed put has been declared (increased to new heights) so it should be risk off today and off to the races for shares but it could be investors have lost faith in the Fed and the dollar. Although that would mean productive land (farmers & fishermen receiving a new level of recognition in these difficult times) gold and I would suggest shares in companies that provide something of benefit to society for which they can charge people money.
I am tempted to top up my producers today, Ray Dalio is right cash will be trash, just not sure when that will be.

[Bobdn]

Yes, Ray Dalio was too early on the cash is trash call. But it must be getting to that stage...

[JBmurc]

Thanks JB but just to be clear I've lost a ton of money overall. I went into this meltdown with 52 per cent shares. Gold is really the only bright spot. I do find that gold helps my mental health. In dark times I think "there's always gold!" (assuming the Perth Mint doesn't collapse and I can sell my PMGOLD units).

This appears to have helped the gold price:

https://www.cnbc.com/2020/03/23/fed-announces-a-slew-of-new-programs-to-help-markets-including-open-ended-asset-purchases.html

Yes I think your safe with Perth mint their business is BOOMING like all Bullion dealers and you don't go broke making a profit ... different story for most sectors.

hopefully I can sell the rest of my O&G play today ...along with a Nickel company ...both great companies but I just don't see the upside in their commodities for some time with HUGE stockpiles ,,,

I've always tried to keep Fundamentally based ... I try not to buy/hold HOPING for a turnaround esp. with the picture so bleak ..why would I risk it ....

I'm pretty much at 80% Gold focused companies(most of course have copper/nickel interests as well)

With AUD Gold up $91oz at present $2660oz the ASX Gold space is just simply the best sector to invest in at present as it has been for some time and when you look at the overall picture developing why would you #1 sell out of the GOLD sector 2# buy other sectors outside staples

Yesterday I pumped $28k AUD into OBM hopefully today I'll be able to shift more funds into the near term Gold Producer..

the fundamentals are very straight forward with OBM like many ASX Gold producers ... personal I've removed most of my funds from WWI (another potential God producer but based in the high risk SA!!)

OBM- AISC from last Fes.study on 100koz au gold production=AUD $1300per oz (when fuel prices were much higher) so if say they hedged forward production at current Spot price OBM would see $130mill pa in free cashflow least first 3yrs (as they have over 100mill in TAX credits)

OBM currently sitting on only a $30mill EV(20mill in cash) .... that to me is a great buy Vs anything else at this point in time..

[JBmurc]

AUD GOLD $2751oz !!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[Aaron]

AUD GOLD $2751oz !!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Hope you bought some producers. Change your investing from extremely risky to just very risky.

Which company would be the largest silver producer on the ASX?

[JBmurc]

Hope you bought some producers. Change your investing from extremely risky to just very risky.

Which company would be the largest silver producer on the ASX?

LOL to late for that but I do have many near term producers that are being priced as explorers only.. my CWX explorer will open up 25% it will all feed downwards from here like it does in Gold Bull markets.. I'm not stressed about my risk profile I have funds spread across 10+ companies ..

from here we will see Majors go up 100% NCM,EVN,NST etc but spec plays with sub 50mill caps we will see 200-1500%+ etc

[JBmurc]

Largest Silver Producer S32.asx

[Bobdn]

I have s32, has been beaten to a pulp...but in other news

https://www.marketwatch.com/story/goldman-sachs-says-it-is-time-to-buy-gold-the-currency-of-last-resort-2020-03-24

I'm not buying at these levels but not too keen to sell either.

[JBmurc]

I have s32, has been beaten to a pulp...but in other news

https://www.marketwatch.com/story/goldman-sachs-says-it-is-time-to-buy-gold-the-currency-of-last-resort-2020-03-24

I'm not buying at these levels but not too keen to sell either.

Yes the FEAR just keeps ramping up now the states awakening ... personal see the ongoing mad demand for Gold Silver investments continue for some time right when we have the many global giant miners slow down to stopping production.. perfect storm for spikes higher

Purchased more of what I believe is one of the best leveraged Gold Companies on the ASX currently>> OBM (major T/O chance)

And more IVR the best Silver on the silver price moving higher ... looked over a chart and IVR has a history of following and well outperforming ETPMAG -Silver bullion ETF

getting out of Nickel-O&G

[JBmurc]

Gold swap dealers on Comex still in the hole for a net short of 171,750 contracts. Managed money longs holding firm with 152,482 net longs, unchanged from 31 March. Stalemate continues and bear squeeze presumably resumes next week

[airedale]

I see that the April futures are still showing above US$1700.

[JBmurc]

Yes and just touched 1700oz couple hours ago 1695oz at present .. likely will push past 1700 tonight ... $1750oz this week ??

[JBmurc]

the Gold standard how it works
https://www.youtube.com/watch?time_continue=630&v=8V9tmvoqTzM&feature=emb_logo

[Entrep]

11294

Gold finally gets its time in the spotlight. All it took was 10 years, unlimited money printing and a global pandemic

[JBmurc]

11294

Gold finally gets its time in the spotlight. All it took was 10 years, unlimited money printing and a global pandemic

What you talking about have you even looked at a GOLD chart ?? when GOLD broke $1000oz it never touched $1000oz again it came down to 1044oz etc from the BEAR trend 2012-16 ..

Talking about GOLD going over the T/A looking at the weekly- Supertrend( 7,3) GOLD has been in a BULL TREND since start of the year so around 4.5 months in ....$1250 to present $1720oz ... I personal think this bull-run will be much stronger and longer than the last one ..

>>The Last Bull trend in the weekly GOLD ran for 35 months Gold went from the $900's to $1920oz

Of course for many me included AUD Gold is much more important ... and that has basically been in a BULL Market for 20yrs outside 2yrs which it pretty much went sideways breather period with small pullback ..

[JBmurc]

Gold trend is strong ... will 1700 hold ... will we see another crack at 1750


11301

[Bobdn]

Gold now at $2850 nzd an ounce. An all time record. Investing but not having any gold in ones portfolio is like driving without a seat belt (it's dangerous :) Not sure why most investors still don't get that. Not that I'm adding just now - my insurance policy (ie gold) was bought and paid for sometime ago.

Gold is now up 51 per cent over one year in nzd terms.

Perth Mint Gold Fund charges just 0.15 per cent fees. Easy and inexpensive and pretty much like a savings account of last resort. this assumes that markets don't suddenly close down and my paper gold becomes useless.

[JBmurc]

Gold now at $2850 nzd an ounce. An all time record. Investing but not having any gold in ones portfolio is like driving without a seat belt (it's dangerous :) Not sure why most investors still don't get that. Not that I'm adding just now - my insurance policy (ie gold) was bought and paid for sometime ago.

Gold is now up 51 per cent over one year in nzd terms.

Perth Mint Gold Fund charges just 0.15 per cent fees. Easy and inexpensive and pretty much like a savings account of last resort. this assumes that markets don't suddenly close down and my paper gold becomes useless.

Don't hold any paper gold or physical >> but 100% Gold sector shares on the ASX.... many of my holding s very undervalued

like my Biggest holding OBM.asx has 2MOz Gold resource owns its own 1.2Mtpa Gold plant plus all the infrastructure .... 20 mill in cash .. only needs 30mill in CAPEX before heading back into Gold production should run at 100-120Koz pa believes it will have AISC $1300oz leaving $1400oz profit per oz + 5yr LOM Gold reserves goal in the short term (140mill EBIT pa) ...current EV only $80mill

[Crypto Crude]

Gold now at $2850 nzd an ounce. An all time record. Investing but not having any gold in ones portfolio is like driving without a seat belt (it's dangerous :) Not sure why most investors still don't get that. Not that I'm adding just now - my insurance policy (ie gold) was bought and paid for sometime ago.

Gold is now up 51 per cent over one year in nzd terms.

Perth Mint Gold Fund charges just 0.15 per cent fees. Easy and inexpensive and pretty much like a savings account of last resort. this assumes that markets don't suddenly close down and my paper gold becomes useless.

Having no gold would be like driving needing a wheel alignment...
Having no crypto would be like like needing to upgrade the car from a river hack...

[JBmurc]

Having no gold would be like driving needing a wheel alignment...
Having no crypto would be like like needing to upgrade the car from a river hack...

Makes no sense ...One a store of value for thousands of years that most Central Banks of the world hold the other a tech play thats losing mass market interest


How to Build a Recession-Proof Investment Portfolio (Gold should be 20% of ones portfolio this is backed up by intensive research over the last 40yrs)
https://www.youtube.com/watch?v=SkfgEZtJ9LA

For you one eyed Crypto bugs go to 24mins .. gets to the crux of the thesis of the Recession-proof investment portfolio backed up by facts over the last 40yrs

[Bjauck]

Gold now at $2850 nzd an ounce. An all time record..... Good insurance policy! NZ Dollar dropping today. Gold now over $NZ 2900/oz. NZ may have flattened the epidemic curve, but the NZ economy with its biggest tourist sector will take a hammering.

[JBmurc]

Good insurance policy! NZ Dollar dropping today. Gold now over $NZ 2900/oz. NZ may have flattened the epidemic curve, but the NZ economy with its biggest tourist sector will take a hammering.

and most of the retail + hospo heard we will be in level 3 for most of MAY now ??

[arc]

Makes no sense ...One a store of value for thousands of years that most Central Banks of the world hold the other a tech play thats losing mass market interest


How to Build a Recession-Proof Investment Portfolio (Gold should be 20% of ones portfolio this is backed up by intensive research over the last 40yrs)
https://www.youtube.com/watch?v=SkfgEZtJ9LA

For you one eyed Crypto bugs go to 24mins .. gets to the crux of the thesis of the Recession-proof investment portfolio backed up by facts over the last 40yrs


Agree, crypto is currently more closely associated with scams and other criminal activities.
Websites that let you buy coins but not sell them
Sites that post prices that are false/misleading
A system that lets two robot algos play off against each other to seemingly increase the price while no one has actually purchased anything
Crypto servers that are running in some persons bedroom pretending to be a large corporation
Software hacks/malware that can change the ownership of a folder and take possession of someone else's coins

Not a market to be in...

The block chain technology behind it may eventually find a use one day.

Thanks JB for the video link... watching it now

[Entrep]

Go read my thread and posts on Indophil (IRN). Read my first post and than go read the T/O announcement on IRN in the ASX. And yes I do live near the beach, but no I dont own a yacht cos I am not into sailing.

http://www.sharetrader.co.nz/showthread.php?t=6490&highlight=irn


Agree, crypto is currently more closely associated with scams and other criminal activities.
Websites that let you buy coins but not sell them
Sites that post prices that are false/misleading
A system that lets two robot algos play off against each other to seemingly increase the price while no one has actually purchased anything
Crypto servers that are running in some persons bedroom pretending to be a large corporation
Software hacks/malware that can change the ownership of a folder and take possession of someone else's coins

Not a market to be in...

The block chain technology behind it may eventually find a use one day.

Thanks JB for the video link... watching it now

Another one that has done no real research and otherwise simply can’t understand it

[Drew95]

My Biggest holding OBM.asx has 2MOz Gold resource owns its own 1.2Mtpa Gold plant plus all the infrastructure .... 20 mill in cash .. only needs 30mill in CAPEX before heading back into Gold production should run at 100-120Koz pa believes it will have AISC $1300oz leaving $1400oz profit per oz + 5yr LOM Gold reserves goal in the short term (140mill EBIT pa) ...current EV only $80mill


Just wanted to say "thanks JB" - I understand nothing about gold so I rely on your expertise for when I decide to dip my toes into the gold market. On the basis of this I bought a few OBM. Up 65% in a month!!

[JBmurc]

Just wanted to say "thanks JB" - I understand nothing about gold so I rely on your expertise for when I decide to dip my toes into the gold market. On the basis of this I bought a few OBM. Up 65% in a month!!

Great to hear drew(I see OBM touched 22c yesterday !!!) ,,,thats what its all about on ST helping other make some fat profits in the markets .. I certainly wouldn't have gone down the share market road if it wasn't for sharetrader back in the early 2000's that spiked my interest to get the trading bug ..

I hope you hold OBM till after the DFS 2H20 as I really think we will see a take-over offer like we seen at EAR from a major Gold producer wanting to add 100koz pa production profile ... my pick is around the 40c depending on the Gold price later this year ...

another Gold play I jumped on is PDI ... i got a chuck of the opts for 4c PDIOA 1.8c ex price DEC 2022 expiry end of last week ... go and check out their recent exploration results just speculator(SP went up 700%+ in a day!!) ... you just don't often find these kind of gold mineralization widths from surface if they continue at depth (as they have only drilled down 50m in this project,,,

[Drew95]

I see that Bank of America agrees with you re POG.

https://www.bloomberg.com/news/articles/2020-04-21/bofa-raises-gold-target-to-3-000-as-fed-can-t-print-gold

It took for a little while to realise that they are talking about the POG in USD, not AUD!

I also currently hold a 'watching' quantity of HMX and NST, while I get a feel for the market.

There are not many commentators I take a lot of notice in - but I do rate Colin Twiggs more than most, and he seems to be bullish on Gold too.

So I think I will be 'watching this space' with increasing interest.

So thanks again - I do read most of your posts with a considerable degree of fascination - it is obviously an area of passion for you, and an area of almost complete ignorance for me.

[JBmurc]

PDI gold spec worth reading latest presentation

http://www.aspecthuntley.com.au/docserver/02227207.pdf?fileid=02227207&datedir=20200422&edt=MjAyMC0wNC0yMysxMjowNzo1MCs0ODArODUzODQ4K2FuZH Jld3dlc3QrcmVkaXJlY3QraHR0cDovL3d3dy5hc3BlY3RodW50 bGV5LmNvbS5hdS9pbWFnZXNpZ25hbC9lcnJvcnBhZ2VzL3BkZn RpbWVvdXQuaHRtbCtodHRwOi8vd3d3LmFzcGVjdGh1bnRsZXku Y29tLmF1L2ltYWdlc2lnbmFsL2Vycm9ycGFnZXMvcGRmZGVsYX llZC5qc3A=

[JBmurc]

Yeah ‘The Fed can’t print gold’: How the yellow metal could hit $3,000 — 50% above the current record
Bank of America’s bullish call on bullion.... so if AUD/USD stays the same we could be looking at $4750oz AUD ... if so then the likes of OBM would be north of $1 per share

[Crypto Crude]

Yeah ‘The Fed can’t print gold’: How the yellow metal could hit $3,000 — 50% above the current record
Bank of America’s bullish call on bullion.... so if AUD/USD stays the same we could be looking at $4750oz AUD ... if so then the likes of OBM would be north of $1 per share

Not worth it unless it gets to 3k by next week...
:drool:cc

[Entrep]

What's the ASX equiv of GDX?

[airedale]

What's the ASX equiv of GDX?
Try the ticker code $xgd_ax Colin Twiggs advises to watch for a break out above 7,200
Good luck.

[JBmurc]

Try the ticker code $xgd_ax Colin Twiggs advises to watch for a break out above 7,200
Good luck.

XGD -7460 at present ... hit a recent low of 5140 in march

[JBmurc]

https://www.bloomberg.com/opinion/articles/2020-04-24/coronavirus-economy-the-fed-should-go-negative-next-week?sref=Kf0MXoXH

The Fed Should Go Negative Next Week
To fight a deepening recession, it should take U.S. interest rates below zero for the first time ever.....

Well that should spur USD Gold to break $1800 IMHO

[Entrep]

Try the ticker code $xgd_ax Colin Twiggs advises to watch for a break out above 7,200
Good luck.

Thanks but I meant a ticker on the ASX I can buy? Not interested in miners, just want pure gold price exposure.

[Drew95]

As a newbie to the understanding of where gold fits into the larger investment picture, I found this article by Ray Dalio to be very helpful ...

https://www.linkedin.com/pulse/money-credit-debt-ray-dalio/?published=t

[JBmurc]

Thanks but I meant a ticker on the ASX I can buy? Not interested in miners, just want pure gold price exposure.

Pure Gold exposure = PMGOLD.asx GOLD.asx

[Chippie]

Here is my experience with a miner called Monarch who from memory originally held the Mt Ida permit.

Sept 2007 purchased 25,000 MON shares for $9,028 (~36 cents per share). With an expectation they would be producing gold sometime soon.
Dec 2007 MON did share consolidation so I ended up with 8334 shares
Between 2010 and now the company changed names ownership to Swan to Eastern Gold Fields to Ora Banda Mining. Along with more share consolidations I ended up with 56 OBM shares (I did not sell any since my original purchase). Then I received $12 as part of the compulsory buy back for small holders since on only had 56 shares left.

So overall I lost $9K, and learned a lesson.

Not saying that OBM may not be about to turn things around. But be careful with promises from any small cap companies with promises of "soon to be producing gold". I am currently heavily into NTL so not sure if I need to be taking my own advice above :)

[airedale]

Hi Chippie, gold mining companies don,t always live up to the promotional hype. They have been described as a company which has a fool with a shovel at the bottom of the hole, and a fast talking salesman at the top of the hole ;). Having said that I hold Evolution EVN : Golden Road Resources GOR, and Saracen SAR, all on the ASX and they are all producing the stuff in a mining friendly country.

[Chippie]

I like the "saying" Airedale. I think it is probably right for some but luckily not all. Just have to spread the net wide to increase your chances. cheers

[JBmurc]

Here is my experience with a miner called Monarch who from memory originally held the Mt Ida permit.

Sept 2007 purchased 25,000 MON shares for $9,028 (~36 cents per share). With an expectation they would be producing gold sometime soon.
Dec 2007 MON did share consolidation so I ended up with 8334 shares
Between 2010 and now the company changed names ownership to Swan to Eastern Gold Fields to Ora Banda Mining. Along with more share consolidations I ended up with 56 OBM shares (I did not sell any since my original purchase). Then I received $12 as part of the compulsory buy back for small holders since on only had 56 shares left.

So overall I lost $9K, and learned a lesson.

Not saying that OBM may not be about to turn things around. But be careful with promises from any small cap companies with promises of "soon to be producing gold". I am currently heavily into NTL so not sure if I need to be taking my own advice above :)

Yes been there with a few stocks over the years purchased more CVR,NKE only days before going into trading halt to suspension that didn't lift for a year .... Sold out of NAV ,MON,BOK weeks to months before suspension .. just to name a few .. One thing I have learnt is never trust mgmt. and keep a very close eye on operations and cash balance Qtr reports etc ..I always re-access holdings from Qtr reports BUY HOLD or SELL

Out of the hundreds of companies I've traded only been caught out once in the Gold space and lost all of my funds invested in stock opts KBLO ... was a classic didn't spend enough time studying the books and history and listening to the PR hype BS ...luckier didn't commit much funds due to the risk profile

O&G specs has burnt me far more over the years

[RTM]

Hi....this may be a bit off topic. I have a friend who wants to put a portion of his money into gold for 5 or 6 years. He doesn't want stock in a gold mining company. He actually wants the physical GOLD.

He asked me if I knew how to best do this in New Zealand. Well, I have absolutely no idea but I'm imagining that some on here have a very clear idea on how this should be done.

Your direction would be most appreciated.
I should add that we live in New Zealand.

Thanks.
RTM

[Joshuatree]

The other saying is "A goldmine is a hole in the ground owned by a liar". Some people are doomed to make the same mistake over and over and i fear you are one of them chippie, holding NTL. "Fool me once, shame on you, fool me twice shame on me."
I hold NST, EVN and SLR Aus producers atm, am 72% to 156% up , Teranga on the TSX and have a spekky or two.

[jonu]

Hi....this may be a bit off topic. I have a friend who wants to put a portion of his money into gold for 5 or 6 years. He doesn't want stock in a gold mining company. He actually wants the physical GOLD.

He asked me if I knew how to best do this in New Zealand. Well, I have absolutely no idea but I'm imagining that some on here have a very clear idea on how this should be done.

Your direction would be most appreciated.
I should add that we live in New Zealand.

Thanks.
RTM

I haven't personally purchased physical gold RTM, but from what enquiries I have made, you pay quite a hefty premium to the USD per oz gold price. I think you would need to purchase from one of the various minting firms. There maybe an exchange of some sort for people who already hold minted product. But you need to be careful about what you purchase and have surety around purity, hence the need to purchase a stamped valid product that a reputable Mint can provide.

[JBmurc]

I haven't personally purchased physical gold RTM, but from what enquiries I have made, you pay quite a hefty premium to the USD per oz gold price. I think you would need to purchase from one of the various minting firms. There maybe an exchange of some sort for people who already hold minted product. But you need to be careful about what you purchase and have surety around purity, hence the need to purchase a stamped valid product that a reputable Mint can provide.

Yes and when he want to sell it back to the bullion house you will be doing well to get spot price ... at present you can buy 1oz Gold Bullion for touch over $3k NZD present spot price NZD =$2833oz .... so your paying a 10%+ prem .... Silver is even worse at present with the best I can find 20%+ over spot...

Personal If someone wants to hold Gold best dealing with the Perth mint and buy PMGOLD.asx

[JohnnyTheHorse]

Hi....this may be a bit off topic. I have a friend who wants to put a portion of his money into gold for 5 or 6 years. He doesn't want stock in a gold mining company. He actually wants the physical GOLD.

He asked me if I knew how to best do this in New Zealand. Well, I have absolutely no idea but I'm imagining that some on here have a very clear idea on how this should be done.

Your direction would be most appreciated.
I should add that we live in New Zealand.

Thanks.
RTM

This isn't physical gold, but is the next best thing. Use Hatch to purchase the etf AAAU - Perth Mint Physical Gold ETF. Low fees, backed by Australian Government and shares can be converted to physical gold.

https://www.aaauetf.com/

[RTM]

Thanks all for the responses and thoughts. Appreciated.
I've passed them on to my friend.
Food for thought for me as well.

[Entrep]

I know this is the ASX forum but is there a NZX ticker I can purchase for gold price exposure?

[ynot]

This isn't physical gold, but is the next best thing. Use Hatch to purchase the etf AAAU - Perth Mint Physical Gold ETF. Low fees, backed by Australian Government and shares can be converted to physical gold.

https://www.aaauetf.com/
With respect, imho bullion must be physical. It's insurance against a disaster. Paper is not suited to that scenario.

[Entrep]

The problem with US listed gold exposure is the FX risk. I can’t be bothered dealing / compensating for it

[airedale]

The problem with US listed gold exposure is the FX risk. I can’t be bothered dealing / compensating for it

It is easy enough to buy an OZ gold producer. Not too much of an FX difference. There are a number of OZ producers on an upward trajectory in a mining friendly environment.

[Joshuatree]

Yep way to go. With costs in $A and gold payments in $US its a huge boost in values.

[Entrep]

Thanks both, jbmurc mentioned PMGOLD.asx above. Thoughts on that?

I am only interested in pure price exposure really, not miners drilling or producing.

Despite that though, if OSH was a good barometer for oil, what would the equiv gold company be? Just checked NCM and the chart looks weird (haven't held or checked it for over 5 years).

Cheers

[airedale]

Thanks both, jbmurc mentioned PMGOLD.asx above. Thoughts on that?

I am only interested in pure price exposure really, not miners drilling or producing.

Despite that though, if OSH was a good barometer for oil, what would the equiv gold company be? Just checked NCM and the chart looks weird (haven't held or checked it for over 5 years).

Cheers
Pure price exposure is a reflection of the drilling and/or producing which is or is not taking place.

[Entrep]

Pure price exposure is a reflection of the drilling and/or producing which is or is not taking place.

Cool, happy to hear what you hold/are looking at too

[airedale]

Gor, Evn, Sar, all on theASX have put me in number 2 in the ASX competition. You could start by looking at those. But do not rely on my advice. My daughter lost confidence in my ability when I gave her a bunch of penny stocks which are still worth a penny after a few years.😂

[airedale]

POG has been hovering around the US$ 1700 mark for the last month or so has moved up to US$ 1716 today. Is it a breakout?

[JBmurc]

POG has been hovering around the US$ 1700 mark for the last month or so has moved up to US$ 1716 today. Is it a breakout?

Yes and $2000oz USD will be in the sights this year IMHO and I don't think it will rebound much before breaking 2K and staying above this level like it did when it broke the 1k level a decade ago ... FOMO will drive the Large-cap Gold sector shares to silly P/E levels of the past 50 etc

Holding tight my micro-jnr cap Gold stocks ... been along wait but think it will pay off much like buying into RMS at 5c many years ago (RMS 1.30+ at present)

[JBmurc]

USD GOLD continues to break new highs breaking recent resistance levels 1762oz

[airedale]

After four up days which took the SP from 1702 to 1762 it looked ripe for profit taking.

[JBmurc]

After four up days which took the SP from 1702 to 1762 it looked ripe for profit taking.

Yes having a breather before its next run to break 1800oz USD

[Drew95]

I have just been reviewing an article by Colin Twiggs - he suggests that the "Australian Dollar will fall if China executes on its trade threats. And if the Aussie Dollar falls, the POG in AUD will therfore rise. If the AUD POG rises, Aussie gold miners would benefit as their revenues rise relative to their costs. He says "Gold (in AUD) is already in a strong up-trend, with narrow consolidation above $2600/ounce suggesting continuation." "The All Ordinaries Gold Index is headed for a test of resistance at 8650. Breakout above 8650 would offer a short-term target of 9500 but the long-term target is 11500."

[JBmurc]

I have just been reviewing an article by Colin Twiggs - he suggests that the "Australian Dollar will fall if China executes on its trade threats. And if the Aussie Dollar falls, the POG in AUD will therfore rise. If the AUD POG rises, Aussie gold miners would benefit as their revenues rise relative to their costs. He says "Gold (in AUD) is already in a strong up-trend, with narrow consolidation above $2600/ounce suggesting continuation." "The All Ordinaries Gold Index is headed for a test of resistance at 8650. Breakout above 8650 would offer a short-term target of 9500 but the long-term target is 11500."

Yes I could see that happening .. IMHO AUD Gold will break $3,000oz

Gold Shares are the place to be currently and for the rest of the year IMHO .... my biggest Holding OBM which I paid 10.2c average during March20 touched 24.5c yesterday .. has a BIG next 6months coming up before heading into Gold Production 1Q21 .... going off peers and AUD Gold outlook one would think a conservative SP would see 40-50c

[ynot]

Is this a first ? Craig's promoting gold investment.

https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12334526

"We like gold, it's a good, sensible choice to have in a portfolio," said Mark Lister, head of private wealth at Craigs Investment Partners.

[airedale]

Cautious Craigs might be a bit late to the party. If you draw a monthly chart it shows the POG in US$ rising since early last year. The OZ$ gold price looks even better. Mind you the party could last for a long time given the amount of Quantative Easing taking place around the world.

[JBmurc]

Yeah well better late than never ...I guess

I see 90 countries are requesting bailouts from the IMF>>>

Silver a better Bullion play

[jonu]

Is this a first ? Craig's promoting gold investment.

https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12334526

"We like gold, it's a good, sensible choice to have in a portfolio," said Mark Lister, head of private wealth at Craigs Investment Partners.

Point them towards NTL!

[ynot]

Point them towards NTL!

I prefer EVN. :-)

[jonu]

I prefer EVN. :-)

But if you want exposure on the NZX and a dual listing it's NTL all the way!

[peat]

I see very bearish patterns forming in gold and silver at present.
11630


as I do with many share charts and indexes at the moment

[airedale]

Hi Peat, that looks like one of those butterfly gartley patterns which were popular with the traders on the Forex page a few years ago. There will be ups and downs on the way but I think we could see $1800 at the end of the year. Your pattern is up against QE.

[Joshuatree]

But if you want exposure on the NZX and a dual listing it's NTL all the way!

Traders stock only, sell a million for .001 c and make a quick thousand then buy back a point lower, rinse and repeat.Check the 1 year chart. So obvious and transparent, pity the poor sucked in mug investors.

[morphs]

Can anyone comment on the NZ Tax implications of holding PMGOLD on the ASX? Would it be caught by the FIF regime?

[airedale]

Hi Peat, that looks like one of those butterfly gartley patterns which were popular with the traders on the Forex page a few years ago. There will be ups and downs on the way but I think we could see $1800 at the end of the year. Your pattern is up against QE.

Hi Peat, a drop in POG to US$ 1711 overnight. What is the time scale for your butterfly pattern. I see the price testing support at $1700.

[younga]

Any thoughts on MML......gold miner in the Philippines....off the top of my head, the market cap is $150 million at 70 cents and my projected net profit after tax is over $50 million....in my eyes, too cheap. I bought $1000 at 64. Anyone know why it's so cheap?

[zero]

Look at the country risk for the Philippines, I suspect a few investors would be discouraged from what has occurred with foreign miners there in the past. I believe Tampakan is still waiting for a mining permit?
Sorry can't work out how to delete a post.

[zero]

Look at the country risk for the Philippines, I suspect a few investors would be discouraged from what has occurred with foreign miners there in the past. I believe Tampakan is still waiting for a mining permit?

https://www.mindanews.com/special-reports/2020/01/special-report-2-smi-gears-up-to-mine-mammoth-tampakan-copper-gold-project/

[zero]

Any thoughts on MML......gold miner in the Philippines....off the top of my head, the market cap is $150 million at 70 cents and my projected net profit after tax is over $50 million....in my eyes, too cheap. I bought $1000 at 64. Anyone know why it's so cheap?

I had a quick look over the stock, put it on my watch list. It is cheap with the PE and cash. Should get over a dollar soon I would guess. But investors are wary of Philippine stocks and the management don't look inspiring. I am guessing the AISC at around $1200 is higher than it need be. The Filipino miners would be getting 10% of the wages of miners in Aus. I would guess a fair amount of expenditure would be to keeping various groups happy. There always has been quite a bit of corruption in the Philippines, wether Duterte is getting it under control or not I don't know. The Muslim seperatists must be in the area. Social expenditure in the surrounding community. I would guess investors are spoilt for choice of gold miners in the ASX. A lot of the best mines seem to be overseas, but come with sovereign risk. WAF is an example. I am trying to buy some MYL this morning. Good luck.

[JBmurc]

Look at the country risk for the Philippines, I suspect a few investors would be discouraged from what has occurred with foreign miners there in the past. I believe Tampakan is still waiting for a mining permit?
Sorry can't work out how to delete a post.

Yeah rather not have my funds at risk in any of these nationalistic nations if economics and unemployment gets worse likely in 2020's Depression then for sure foreign companies making millions will be attacked first ...best case higher royalty taxes ..worse case you lose the project you spent mega millions on..

.... have been burnt in South Africa ...we are really lucky having Aus next door with many of the best miners in the world and great prospective country why take the risks ....

[Joshuatree]

Im a minimalist at charting but the Gold price is looking pretty rocky atm


Gold (https://tradingeconomics.com/commodity/gold)

[JBmurc]

Im a minimalist at charting but the Gold price is looking pretty rocky atm


Gold (https://tradingeconomics.com/commodity/gold)

Close to short term daily support .. we see it break and 1640 might well be the next support11665

[airedale]

Yes it does look a bit shabby in the short term. There was a lot of resistance at 1700 and that was taken out by about 3% when it went up to about 1750 on the weekly chart. Then it retraced back through support at 1700 to 1684, which is about 1% below 1700. I think that POG will try and regain 1700, but it depends on US$ index and Trump etc etc. I am not panicking yet. Draw up a monthly chart, it has been rising since the beginning of 2016.

[Jaa]

Nothing a few days of volatility couldn't fix. 1yr trend looks very good for gold.

[airedale]

POG shaping up for another monthly high and closing in on $US1800.

[airedale]

With POG closing overnight above US$ 1774 at the end of the quarter that is the highest ever quarterly close. There is still significant resistance at US$ 1800.

[Aaron]

With POG closing overnight above US$ 1774 at the end of the quarter that is the highest ever quarterly close. There is still significant resistance at US$ 1800.

POG holding steady although with how well sharemarkets around the globe are doing I would have thought we would see a drop in price.

Also has sharetrader gone into lock down over NTL as you now need to log in to see anything.

[airedale]

POG nudging up close to US$ 1800 thanks to weakness in the US$ index. POG may well go higher some time this year.


POG holding steady although with how well sharemarkets around the globe are doing I would have thought we would see a drop in price.

Also has sharetrader gone into lock down over NTL as you now need to log in to see anything.

[Joshuatree]

Broken trough atpit. $1802.20 oz atm. re a 9 year high.

[JBmurc]

Plenty more to come $1900oz-$2000oz range the next step later this year....

[Drew95]

Dimitri Zabelin at DailyFx.com recently published this ...

https://www.dailyfx.com/forex/fundamental/forecast/weekly/chf/2020/07/05/XAUUSD-Outlook-Bearish-For-Q3-on-Financial-Risks-Covid-19-Pandemic.html

Colin Twiggs response was as follows:

Dimitri’s reasoning is:


Gold may fall if a second wave of the virus dampens inflation prospects.
Demand for safe haven assets could boost the Dollar relative to Gold.
Instability in financial markets could see a sell-off in Gold as in early March 2020.

My comments are:


Gold is driven by the strength of the Dollar, not inflation, and even does relatively well during deflationary periods.
Demand for safe haven assets would boost both the Dollar and Gold. Gold is the #1 safe haven asset and massive QE by the Fed is likely to diminish the appeal of holding Dollars, boosting Gold.
The March sell-off was a special case with risk parity funds forced to sell Gold as well as bonds and equities (https://thepatientinvestor.com/index.php/2020/03/19/risk-parity-funds-are-selling-gold/), and is unlikely to repeat, especially with the Fed now on the alert.

Finally, if we look at the long-term trend, Gold has outperformed the Dollar since mid-2019 and there is no sign of that changing.

[Aaron]

From a diversified portfolio perspective I already have too much invested in what is a speculation for me due to my ignorance of gold and gold mining but sorely tempted to double up and become a momentum investor in Australian gold producers. My understanding is that EVN, NCM and NST are the larger companies so I invested in them initially. I also have RMS which has done well of late but was sitting in a bottom draw for a long time.

Any recommendations for a scattergun approach to investing in Aussie gold miners. More of the same is my current thoughts (EVN, NCM & NST) but there may be other well established aussie companies with large reserves in safe political geographies.

[yabster]

Take a look at Gold Road - Mine in Aus, producing 300 ozs, split 50/50 with Goldfields- huge amount of ground and strong potential for more significant deposits. Seems the explorers are doing better than the producers - more risk though- with Gor you get both- disc been holding since 0.15 cents.

[Aaron]

Take a look at Gold Road - Mine in Aus, producing 300 ozs, split 50/50 with Goldfields- huge amount of ground and strong potential for more significant deposits. Seems the explorers are doing better than the producers - more risk though- with Gor you get both- disc been holding since 0.15 cents.

Thanks for that, I will check it out.

[Joshuatree]

Gold just gone under $1800 atm.

[airedale]

We didn,t panic when it dipped below 1700 a couple of weeks ago. Expect resistance, also the US dollar index was up today. Monthly chart still strong. Traders cautious going in to the weekend.

[ynot]

No confidence in currencies.
https://www.kitco.com/news/2020-07-14/Silver-prices-headed-to-25-as-worthless-central-banks-manipulate-currencies.html

[Joshuatree]

$1840 oz and rising.My goldies really starting to hit their straps.:)

[Yoda]

$1840 oz and rising.My goldies really starting to hit their straps.:)
Which ones do you go with JT.
I have AMI. BGL SVL . Thinking about GOR (thanks yabser)

[JBmurc]

$1840 oz and rising.My goldies really starting to hit their straps.:)

Yes many of my Gold holdings look primed to breakout to much higher levels ..my highest value holding OBM is moving towards Gold production at a perfect time 1Q21
great to take up some Entitlement shares 23c with the SP closing 30.5c looking to make new highs mid 30's on the next decent ann..

[Skene]

Does anyone have an interest in CNB? As far as I can tell its extremely undervalued at 12c / $12m MC.

Less than 100,000,000 shares on offer, great tenants, production beginning in 4Q2020 and ~$25m imminent cashflow from tailings being processed. Cash backing alone this little gem is sitting at a substantial discount. Happy to keep acquiring at these prices but just can't figure out what I might be missing.

[Stumpynuts]

Does anyone have an interest in CNB? As far as I can tell its extremely undervalued at 12c / $12m MC.

Less than 100,000,000 shares on offer, great tenants, production beginning in 4Q2020 and ~$25m imminent cashflow from tailings being processed. Cash backing alone this little gem is sitting at a substantial discount. Happy to keep acquiring at these prices but just can't figure out what I might be missing.



Although shallow drilling, CNB looks to have a much more narrow gold vein and with miniscule g/t grades along their strikes, compare it to say DEG's vein strikes.

Vermicelli rice noodle vs. Extra large jumbo wax crayon side by side.

[JBmurc]

Does anyone have an interest in CNB? As far as I can tell its extremely undervalued at 12c / $12m MC.

Less than 100,000,000 shares on offer, great tenants, production beginning in 4Q2020 and ~$25m imminent cashflow from tailings being processed. Cash backing alone this little gem is sitting at a substantial discount. Happy to keep acquiring at these prices but just can't figure out what I might be missing.

I agree most likely as they will look to raise some capital soon with only 1.8mill end of March prob 11c etc... insto's know this and are capping the price so they can get a better deal then add in the same insto's buying pressure and Gold production will see the SP well over 20c... seen it all before ....

[airedale]

POG at an all time high as the US$ index slides down. The index has dropped so quickly that there may well be a rally which will affect the rise in gold temporarily?

[Snow Leopard]

I am considering using ASX.GOLD to do a little gold trading.

Probably end up bailing at a loss:https://cdn1.i-scmp.com/sites/default/files/styles/768x768/public/images/methode/2018/05/23/b70f3e2e-5d99-11e8-a4de-9f5e0e4dd719_1280x720_095446.JPG?itok=G2BNVEjA
image from South China Morning Post (https://www.scmp.com/magazines/post-magazine/long-reads/article/2147271/snow-leopard-census-now-it-endangered-species)

[stoploss]

Does anyone have an interest in CNB? As far as I can tell its extremely undervalued at 12c / $12m MC.

Less than 100,000,000 shares on offer, great tenants, production beginning in 4Q2020 and ~$25m imminent cashflow from tailings being processed. Cash backing alone this little gem is sitting at a substantial discount. Happy to keep acquiring at these prices but just can't figure out what I might be missing.
Somebody lit the touch paper today . +23%, 16 cents .

[ynot]

Silver going vertical. Currently up 8% at 24.60.

[Joshuatree]

Gold all time high $1940 oz atm.:)

[JBmurc]

USD Gold looking likely to break $2k this week imho

[Aaron]

A volatile speculation. Just looking at historical figures 1980 hit a peak that was not seen again for 27 years. Although money printing in 2007/2008 put it on a tear. I am assuming money printing is the reason behind the recent rise. As has been mentioned in the media there is no limit to money printing so maybe the POG has support as long as the printing presses keep whirring.

Paul Krugman has our backs
https://www.marketwatch.com/story/there-a-mania-in-stocks-but-investors-face-an-even-greater-danger-warns-nobel-prize-winning-economist-2020-07-28?mod=home-page

Each crisis requires an even larger monetary response.

[ynot]

A volatile speculation. Just looking at historical figures 1980 hit a peak that was not seen again for 27 years. Although money printing in 2007/2008 put it on a tear. I am assuming money printing is the reason behind the recent rise. As has been mentioned in the media there is no limit to money printing so maybe the POG has support as long as the printing presses keep whirring.

Paul Krugman has our backs
https://www.marketwatch.com/story/there-a-mania-in-stocks-but-investors-face-an-even-greater-danger-warns-nobel-prize-winning-economist-2020-07-28?mod=home-page

Each crisis requires an even larger monetary response.
Yes, the difficult decision will be knowing when to exit.

[Bjauck]

Goldman Sachs lifts price target to $US 2,300
https://finance.yahoo.com/news/goldman-sachs-boosts-gold-price-142054436.html

[Joshuatree]

Targets mean nothing to me but im with the trend but starting to think about taking some gold profits soon.

"Gold the currency of last resort"

[Aaron]

Yes, the difficult decision will be knowing when to exit.

Too true, I don't know if anyone knows for sure. Historically it was probably yesterday when I caught gold fever and got wrapped up in the big rise and went out further on the risk curve.

My naive and uneducated basis for gold going higher is that central banks are not proposing anything other than lower (even negative) interest rates and money printing (there is no limit to money printing - Jerome Powell).

Governments are spending up large. I think in the USA some are saying that deficits don't matter any more and it doesn't look as though Japan or the US govts. have any intention of paying back their borrowings. They "have to have inflation" to take care of their debts.

How it ends I am unsure as current economic thinking and monetary policy are at historic extremes. It seems like a ponzi scheme that requires more and more printing and lower and lower rates every time there is a crisis (a trend since the 1980s) with no will by voters or anyone in power to change course. So I am picking that gold prices might get extreme as well, as long as central banks keep printing money and suppressing interest rates(markets should decide this price imo) and continue to hold gold. Why central banks continue to hold gold I am unsure but it probably helps to keep faith in currencies somehow.

On the other hand it could be an increase in uneducated speculators like myself pushing up the price and they will drop it like a hot potatoe as soon as it goes out of fashion.

[arekaywhy]

Those smack downs over the last couple of days...is that massive sell offs for profit takers or "suppression" to hide something...*reaches for tin-foil hat*

[Snow Leopard]

I am considering using ASX.GOLD to do a little gold trading....

The day after posting this I got an email from Betashares pointing out their gold, currency hedged, ticker:'QAU' and gold miners, currency hedged, ticker:'MNRS' offerings.

Either Betashares read this forum and know who I really am or it is just one of those co-incidences that seem to happen more often than not, as per Terry Pratchett's "1 in 1,000,000 longshots work out 9 times in 10".

Anyways I bought some MNRS on the back of all that research, have a little profit already and will watch the price action closely like a sleeping leopard.

It will be interesting to see how the gold speculating goes compared to the crypto, tech-specs and proper investments in shares and even term deposits.

[SPARKY]

Thanks for your last post Snow L.
I have been getting into gold stocks. I don't put a lot into any particular stock, but have about 14 co's ATM.
This way if one or two fall over it won't hurt as much as it did in the past.
I've just finished filing the paperwork for these stocks and it is a pain.
I checked out MNRS you mentioned and it would take a lot of the hassle out of the equation, so intend to drip feed into this now.
I spend a lot of time reading about the future of things financial, and the future is looking good for gold, but watch the fraudsters come out of the woodwork from now on.
Be careful out there
cheers all
Sparky

[ynot]

Too true, I don't know if anyone knows for sure. Historically it was probably yesterday when I caught gold fever and got wrapped up in the big rise and went out further on the risk curve.

My naive and uneducated basis for gold going higher is that central banks are not proposing anything other than lower (even negative) interest rates and money printing (there is no limit to money printing - Jerome Powell).

Governments are spending up large. I think in the USA some are saying that deficits don't matter any more and it doesn't look as though Japan or the US govts. have any intention of paying back their borrowings. They "have to have inflation" to take care of their debts.

How it ends I am unsure as current economic thinking and monetary policy are at historic extremes. It seems like a ponzi scheme that requires more and more printing and lower and lower rates every time there is a crisis (a trend since the 1980s) with no will by voters or anyone in power to change course. So I am picking that gold prices might get extreme as well, as long as central banks keep printing money and suppressing interest rates(markets should decide this price imo) and continue to hold gold. Why central banks continue to hold gold I am unsure but it probably helps to keep faith in currencies somehow.

On the other hand it could be an increase in uneducated speculators like myself pushing up the price and they will drop it like a hot potatoe as soon as it goes out of fashion.

Rightly or wrongly I want to ride this one out as fomo on the proverbial "10 bagger" being my motivator. That and the hedge against the unspeakable financial meltdown should it eventuate.

[stoploss]

I agree most likely as they will look to raise some capital soon with only 1.8mill end of March prob 11c etc... insto's know this and are capping the price so they can get a better deal then add in the same insto's buying pressure and Gold production will see the SP well over 20c... seen it all before ....
Found a solution instead of a capital raise, 20 cents trading

[Bjauck]

Inflation and Covid fears push gold over $US2000. The surge in price also occurred after the horrendous Beirut explosion. If the explosion was not an accident, Perhaps also the spectre of increased geopolitical instability is nudging it higher? Also the average portfolio allocation to gold at 3% is not particularly high, given the current state of interest rates

https://www.ft.com/content/566dd8f7-7efe-45b6-8a44-b20f7f0f283e

[JBmurc]

Inflation and Covid fears push gold over $US2000. The surge in price also occurred after the horrendous Beirut explosion. If the explosion was not an accident, Perhaps also the spectre of increased geopolitical instability is nudging it higher? Also the average portfolio allocation to gold at 3% is not particularly high, given the current state of interest rates

https://www.ft.com/content/566dd8f7-7efe-45b6-8a44-b20f7f0f283e

Been Huge Gold Buying for the last decade ,,just recently the paper market is catching on...
https://theconversation.com/countries-went-on-a-gold-buying-spree-before-coronavirus-took-hold-heres-why-138173

[airedale]

https://www.ino.com/blog/2020/08/dollar-index-gold-and-silver-updates/#.XzIYHDVS_VI

Of interest here as the writer compares gold and the US$ index. If the index continues in the downward trend channel then the gold price rally is still intact.

[airedale]

https://www.ino.com/blog/2020/08/dollar-index-gold-and-silver-updates/#.XzIYHDVS_VI

Another analysis from JRB in which he predicts a correction from an overbought condition in the next couple of months. I don't subscribe to his service but I keep an eye on his free newsletter. He does not follow the gold companies on the ASX, he is mostly in to North American companies.

[Aaron]

A correction was predicted but it will be a real test of my faith based investing today.

[Joshuatree]

Russia declares victory in global vaccine race with untested ...www.washingtonpost.com (https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&ved=2ahUKEwiG1c-6lJTrAhUZyzgGHSs-BR4QFjAEegQIBRAB&url=https%3A%2F%2Fwww.washingtonpost.com%2Fworld%2 Frussia-unveils-coronavirus-vaccine-claiming-victory-in-global-race-before-final-testing-is-complete%2F2020%2F08%2F11%2F792f8a54-d813-11ea-a788-2ce86ce81129_story.html&usg=AOvVaw1mcbb_wjxzVDoGHLF1zbjp) › world › 2020/08/11

[airedale]

Recent news this week is that Warren Buffet has bought a big stake in Barrick Gold. He probably thinks that gold will increase over the near and distant future.

[Aaron]

Recent news this week is that Warren Buffet has bought a big stake in Barrick Gold. He probably thinks that gold will increase over the near and distant future.

I doubt it was Buffet that bought it for Berkshire but maybe he would have to have approved it. Dropping banks and buying a gold miner, I wonder what they see ahead. Hopefully it is a long term buy for Berkshire and my speculation in gold miners will be vindicated over time.

[airedale]

Berkshire sold out of Goldman Sachs to take the position in Barrick Gold.

[ynot]

Recent news this week is that Warren Buffet has bought a big stake in Barrick Gold. He probably thinks that gold will increase over the near and distant future.
That's quite something considering he has never been known to say anything positive on the yellow metal.

[Aaron]

Berkshire sold out of Goldman Sachs to take the position in Barrick Gold.

Thinking about it further $563mill is about .28% of Berkshire's portfolio (I think) and if they hold $139billion cash in different corporations then it is tiny compared to their cash holdings. Nothing more than a small speculation at this stage but possibly some smart investors coming to the same conclusions we are. Although their cash holdings would indicate they don't see a major currency crisis on the horizon.

Compare with Ray Dalio who says cash is trash.

[Aaron]

I didn't read the Fed minutes but the headline says they see a negative economic outlook due to Covid-19 and they discussed not buying govt bonds for yield curve control. Less money printing bad for gold but if the economy turns down it will be interesting to see if they ramp up the money creation or not. As always nothing seems straight forward. I was going to retire after my gold stocks went up 1,000% but looks like I might need to wait longer.

[Aaron]

Some morning confirmation bias.
https://www.zerohedge.com/markets/feds-new-policy-will-compound-its-errors

Are 2% price rises every year actually a good thing. I don't think so. Especially if it is an average with all things now manufactured in Asia going down and house and asset prices going up by a lot. It seems messed up to me, unless of course you are wealthy already as the cost of everyday items goes down and your assets keep rising.
But potentially good for gold.
Mercury "Green Bonds" 7 year maturity but no idea of interest rate until the "book build" I wonder what the indicative rate is.

I am torn, no debt and holding cash at nearly 0% in expectation that opportunities would arise in a crash, probably should invest in any yield reasonably safe at 5% and above and borrow some money to do it. Just a bit nervous after the March shortest bear market in history. Sticking with gold miners for now. Any ideas, should investors be holding any cash or bonds or should I be all in real estate, shares and gold with a bit of debt?
I am conservative and like the idea of diversification. So with my limited capital, shares can be bite sized, but real estate is a bit harder unless you are buying real estate companies on the NZX. Currently overweight in gold mining companies so reluctant to go any further there. Suppose I should read the NZX thread for ideas. I see OCA is popular topic currently although opinions are mixed.

[JBmurc]

I didn't read the Fed minutes but the headline says they see a negative economic outlook due to Covid-19 and they discussed not buying govt bonds for yield curve control. Less money printing bad for gold but if the economy turns down it will be interesting to see if they ramp up the money creation or not. As always nothing seems straight forward. I was going to retire after my gold stocks went up 1,000% but looks like I might need to wait longer.

More than $54.3 billion in U.S. commercial mortgage backed securities have been transfered to loan workout specialists mostly because of payment delinquencies, a 320% increase since the start of the Covid-19 pandemic, according to Moody’s Investors Service.
https://www.bnnbloomberg.ca/commercial-mortgage-debt-in-distress-surges-320-moody-s-says-1.1484837

[Aaron]

More confirmation bias but from NZ this time.
https://www.msn.com/en-nz/money/homeandproperty/our-housing-market-is-too-big-to-fail/ar-BB18r9BS?ocid=msedgntp

Prices have quadrupled in real terms since 1980, and have tripled relative to incomes in the biggest cities.

All the hard work inflating prices is being done by our central bank. Houses are better than gold, at least they keep you warm and dry, in most cases.

[Bjauck]

More confirmation bias but from NZ this time.
https://www.msn.com/en-nz/money/homeandproperty/our-housing-market-is-too-big-to-fail/ar-BB18r9BS?ocid=msedgntp

Prices have quadrupled in real terms since 1980, and have tripled relative to incomes in the biggest cities.

All the hard work inflating prices is being done by our central bank. Houses are better than gold, at least they keep you warm and dry, in most cases.

Residential housing will be the most protected of all asset classes by NZ governments of all colours. Owners tend to be more politically active and influential than non-owners for a start. As a result of tax and investment environment settings plus history, Kiwi households have comparatively little invested on the NZ share market (either directly or through managed funds.)

NZ bank depositors have the OBR which will see them take a hair-cut of banks are up against the wall. However the government will protect house values as they are so important for NZ's financial system well-being and NZ household wealth. Residential property ownership and investment in NZ is the favoured asset class and that is unlikely to be changed by a government that wishes to be re-elected.

[airedale]

US$ index has dropped below support at 92. POG strengthening up to US$ 1987 today. Getting closer to US$ 2,000 again.

[arekaywhy]

Residential housing will be the most protected of all asset classes by NZ governments of all colours. Owners tend to be more politically active and influential than non-owners for a start. As a result of tax and investment environment settings plus history, Kiwi households have comparatively little invested on the NZ share market (either directly or through managed funds.)

NZ bank depositors have the OBR which will see them take a hair-cut of banks are up against the wall. However the government will protect house values as they are so important for NZ's financial system well-being and NZ household wealth. Residential property ownership and investment in NZ is the favoured asset class and that is unlikely to be changed by a government that wishes to be re-elected.

This makes me want to make gains in the market purely out of spite. This schits me off. My intent is to do the opposite of the majority to see if I can make a better gain than the average.

[arekaywhy]

Starting to make the "mainstream"...

https://www.stuff.co.nz/business/opinion-analysis/300100506/monday-thoughts-should-you-invest-in-gold

[airedale]

Well,that was a good example of a bull trap🤐 on the 1st of September.

[peat]

It could still be forming a triangle allowing for new highs in months to come

[denpal]

Use stockcharts.com and code $GOLD:$NZD to track POG in local currency.

[airedale]

It could still be forming a triangle allowing for new highs in months to come
Agreed Peat, the US $ index may be forming its own bull trap, so then it will be game on again for gold. September is historically a mediocre month for POG.

[peat]

looking more like a descending triangle though which has the opposite implication.

(no position)

[airedale]

Overnight the US$ index broke through resistance to reach 93.5 with negative results for POG and commodities. Maybe the index is forming a bull trap this time. I will wait and see.

[arekaywhy]

Anyone care to share thoughts on the GDX ETF from Vaneck?

[Aaron]

Just wondering about gold as not much has been happening other than the big drop on the vaccine news. Listening to a you tube clip Rick Rule reckons these 3 signs will indicate when the bull market in gold is over.

1/When QE stops - which it has for now but the US probably has another big round of lockdown handouts coming.

https://www.americanactionforum.org/insight/tracker-the-federal-reserves-balance-sheet/

Not sure how legit this site is but Fed balance sheet leveled off in 2020 after a big jump. 2018 and 2019 last time balance sheet reduced.

2/When US govt deficit is less than 1% of US GDP

https://www.thebalance.com/us-deficit-by-year-3306306

We would have to go back to 2007 for anything close to this.

3/US 10 year treasuries interest rate rises by more than 2%
https://www.treasury.gov/resource-center/data-chart-center/interest-rates/pages/textview.aspx?data=yield

I assume this is legit so current 10yr treasury .96%

I guess it is no guarantee but I have been speculating based on money printing and currency debasement through inflation and these views give me something to consider on big down or up days, rather going with my gut. Just writing it down here so I can come back to this post when I am not sure what to do.

better yet below is the you tube clip.

https://www.youtube.com/watch?v=3CqR9Hdqh2c

[airedale]

I still think that QE and inflation will happen over the next few years. So the Trump/Biden election volatility will pass. If I had spare funds I would buy the dip.Thanks for sharing the Rick Rule video.

[t.rexjr]

I still think that QE and inflation will happen over the next few years. So the Trump/Biden election volatility will pass. If I had spare funds I would buy the dip.Thanks for sharing the Rick Rule video.

I agree. Cash less than ideal while the result of QE is yet to take effect

[JBmurc]

Yes avoid the MSM hyperbole and all the noise and just keep to the fundamentals which are pretty clear ---The entire US govt debt is currently $20T+ and Biden plans to spend $7.3T on infrastructure... rates 0%

Internationally 17.4T + in Negative yielding BONDS...

Now Why do people buy negative yielding bonds??????

1. They can fund them at even more negative rates
2. The regulator tells them to
3. They don't care

We have one screwed up financial world ... GOLD SILVER PGMs = Intrinsic value with limited future supply without HUGE Capital investment to just keep to present production levels ... a we know all the GOLD in the word at present would only fill three olympic size pools ...

[DTB]

JBmurc, I notice that some of your gold stocks also have copper resources. Is this a good way to also get exposure to copper? Or is it better to look for specialist copper stocks? Cheers

[JBmurc]

JBmurc, I notice that some of your gold stocks also have copper resources. Is this a good way to also get exposure to copper? Or is it better to look for specialist copper stocks? Cheers

Yes if the Copper projects/target are Quality,,,But If you really want 100% focus on Copper your'll prob be better focusing on a company with that in mind ... MAG has some cracking projects and will spin out a Gold/Cu IPO early next year with free shares for MAG holders to come soon

I think it's a great idea to spread the commodity risk within a company ... sometimes you have Base metal explorers with solid Gold projects or Core Gold Projects with great base metal discoveries etc ...

Many times the market doesn't add much value if any for the minor projects in the micro-caps I generally focus on

some of my holdings for example

-MEU- GOLD + Uranium
-CNB- GOLD + Copper
-RXL- GOLD + NIckel
-RMX-GOLD + Rare earths

My Copper player is CHK... but they still have Gold/U credit upside and a Gypsum project

OBM/WWI/GMR my pure Gold plays. ...

[zero]

SVY worth looking at for copper and other metals.

[DTB]

Thanks for that. Yes makes sense - MEU gold plus uranium. At least they have something of value while Uranium is in the toilet and can keep the mine open.

[JBmurc]

Thanks for that. Yes makes sense - MEU gold plus uranium. At least they have something of value while Uranium is in the toilet and can keep the mine open.

Yeah MEU was actually a Uranium focused company years ago spent millions exploring right next door to boss resources with 170mill plant for U308 .. if U booms then yes another very nice asset for MEU

[arekaywhy]

wow, price of gold taking a hiding and gold miners index erasing a the year's gain as well...interesting

[Aaron]

wow, price of gold taking a hiding and gold miners index erasing a the year's gain as well...interesting

Frightening for me rather than interesting, sad to see most of my gold stocks in the top ten losers in the herald this morning.

What has changed? Crypto currency maybe providing more bang for your buck. Gold not shooting for the stars maybe. Money printing still on the cards, interest rates maybe bottoming out now there is a vaccine everything is awesome.

Maybe I should be looking at technicals and getting out if they indicate a down trend.

[arekaywhy]

personally, I think it is just sentiment driven

Gold isn't "cool" so the robin hooders/sharsies crowd aren't going to pump it up

As for inflationary policies and trying to insure against those, I think that is still a factor for me and I won't be getting rid of gold stocks

[Aaron]

Maybe I should be looking at technicals and getting out if they indicate a down trend.

Speaking of which I use ASB Securities so I am not overloaded with options for technical analysis.

Looking at moving averages what do people tend to look at 90days and 180days? For NCM with this combination I am avoiding the ominous sounding death cross.

RSI is already at the bottom of the range as is the slow and fast stochastic although I guess it could stay there for a while. I will need to refresh what these things reflect tonight but looks like I missed the boat selling out before the fall from $35 to $25 a 29% fall. So much more enjoyable on the way up.

[airedale]

There is support at the $1800 mark. Let us see if that holds.

[arekaywhy]

I'm quite surprised that there isn't more interest in hedging or wealth preservation by use of precious metals. Given the massive currency debasement going on, and we're talking trillions of magical fiat money printing in the last few months, and the absolute mania that the markets are in, all over the world it seems, it is almost like we are being set up for a massive fall where "they" take everything off us little guys...

[airedale]

The US$ index has slid below 92 last night, so that will give gold a little nudge up, although my favourite guru says that POG may go to US$ 1750 before finding a turn round.

[Joshuatree]

ive got about 9% of my wealth in Goldies and im hanging in as part of my risk reward strategy.Lots of volatility ahead imo and im not ready to reduce/bail yet.

[audiav]

Yep looking for an opportunity to top up. Started late accumulating G into portfolio so trying to catch up, but share prices marching forward keeping me behind. Nice problem to have however. Not ready to sell shares to top up. Sigh.....

[stoploss]

Might be a flight to Gold Bitcoin down 12% Ripple 20%, looks like they all tanking ....

[arekaywhy]

yes it will be interesting to see where people move their money to

[ynot]

Might be a flight to Gold Bitcoin down 12% Ripple 20%, looks like they all tanking ....
I have not been a believer in Bitcoin, (still couldn't buy it) but it is gaining more mainstream support that I ever imagined it would.

[airedale]

1770 to 1870 pog jumping up $100 then down again repeat every hour in overnight trading. Is something cooking?

[arekaywhy]

1770 to 1870 pog jumping up $100 then down again repeat every hour in overnight trading. Is something cooking?


I recently read an article about market manipulation in Gold, and a lot of it made sense. Given the big players have been caught out before, I wouldn't be surprised if that was what is going on again here. Nothing makes sense any more in this market...

[JBmurc]

I have not been a believer in Bitcoin, (still couldn't buy it) but it is gaining more mainstream support that I ever imagined it would.

Your not the only one but BTC seems to be all the rage at the moment near on tapping $20k USD ... I see one fund on CNBC happy to invest $500mill into BTC soon ...
there really seems a push at the moment for the BTC bugs to attack GOLD and state BTC is better than GOLD etc ... which is kind of joke ,,, GOLD like other precious metal thats been created by the universe in very limited amounts with high costs to extract ... its the fight of the Physical Vs Digital (I find it funny the icon for BTC is a GOLD coin). ... I guess its like guys that are pro golfers but only on their Playstation ...but If everyone is happy to watch the playstation player than the real player then theres are great future for Digital Golf players

You can lose your BTC simply lose track of your private key or your hard drive.... house fire bye bye BTC..

You can't destroy GOLD its going tp be around forever till the SUN takes it back in several billion years


https://www.technologyreview.com/2018/04/24/143425/lets-destroy-bitcoin/

researchers are finding is that a digital version of state-run currencies could match or even improve upon the efficiencies of Bitcoin. Gupta believes that transactions should be processed much faster when a central bank is behind the system (as opposed to the peer-to-peer network that currently records Bitcoin transactions). This efficiency could add up to a lot of saved money. The Bank of England, which has been furiously researching blockchain technology, reported in 2016 that even partial adoption of a central-bank-issued digital currency would result in a 3 percent increase in GDP as the cost of taxes and transaction fees went down.


Really wants going to be the final nail in BTC ... is a fully Digital currency that pays interest to hold again ... so you have all the properties of say NZD pay your taxes ,pay your bills etc accepted everywhere .. but also if you hold in the bank can get a better return than inflation
as we know BTC = no return

[Joshuatree]

Covid Vaccines look to have stopped gold in its tracks and companies like PayPal using bitcoin is another concern

PayPal has entered the cryptocurrencymarket, announcing that its customers will be able to buy and sell Bitcoin and other virtual currencies using their PayPal accounts. Those virtual coins could then be used to buy things from the 26 million sellers which accept PayPal, it said.

[Joshuatree]

What makes some people tick?
Skol started this thread in 2009. He switched to GOLD(and only gold) on hot copper for one.Thousands of posts , all negative ,i believe, 10 to 20 a day !!!.:confused::eek2::t_down::t_up:

[JBmurc]

Covid Vaccines look to have stopped gold in its tracks and companies like PayPal using bitcoin is another concern

PayPal has entered the cryptocurrencymarket, announcing that its customers will be able to buy and sell Bitcoin and other virtual currencies using their PayPal accounts. Those virtual coins could then be used to buy things from the 26 million sellers which accept PayPal, it said.

Yes for US Paypal user ... PP converts BTC to USD then buys the item .PayPal fees can considerably increase transaction costs, with many platforms levying as much as 10% of the transaction amount as a fee

[airedale]

What makes some people tick?
Skol started this thread in 2009. He switched to GOLD(and only gold) on hot copper for one.Thousands of posts , all negative ,i believe, 10 to 20 a day !!!.:confused::eek2::t_down::t_up:


Skol used to sit too close to his computer. If you typed the word gold in to any post, Skol would rise to the bait like a man posessed and downramp the very notion of profiting from gold.

[Joshuatree]

Hes still doing exactly that on Hot Copper now 11years later.Did he have a horrible grandmother with a mouth full of gold teeth or ?

[JBmurc]

What makes some people tick?
Skol started this thread in 2009. He switched to GOLD(and only gold) on hot copper for one.Thousands of posts , all negative ,i believe, 10 to 20 a day !!!.:confused::eek2::t_down::t_up:

Yes a troll here and couldn't give it up when Banned (from memory running more than one account .I do think he does the same over on HC just look at all those GA's!!)
so good old nut job SKOL moved over to Aus based forum to carrying on his rhetoric of hating GOLD ..

[airedale]

POG stirring and looking to get closer to US$1900. As US$ index drops below 90.

[denpal]

Hopefully seasonality kicks in soon, once Xmas is over.

[denpal]

Some interesting holiday reading:
http://www.321gold.com/editorials/hamilton/hamilton121820.html

[airedale]

Lots of reading but the message is that the next up leg is about to begin.

[JBmurc]

Lots of reading but the message is that the next up leg is about to begin.

well positioned along with many of the Gold sector companies I hold waiting on assay results ....bring on 2021 ... should well be a Golden year

[wizAlvin]

53 competition entries - still time for the 2021 competition - go gold

[gmatt]

You're right there Wiz ......... was a great day for the goldies :t_up:

[JBmurc]

Gold up AUD $75 oz
$2,533 oz au

[airedale]

https://thedailygold.com/will-gold-silver-go-vertical-in-2021/
I am positive on gold for a number of reasons this year, as is Jordan Roy-Byrne but before it goes "parabolic" {as Skol would have said, before he was banned}.....Jordan is looking for a monthly close above US$2,000. Sometime this year.

[JBmurc]

Huge day for nearly all of my Goldies and even other resources shares have had a cracking good start to the new year ....I know it won't last ....but another few weeks would be brilliant

[troyvdh]

LITHIUM LITHIUM.....has the Clutha river been behaving.

[JBmurc]

LITHIUM LITHIUM.....has the Clutha river been behaving.

rain has finally stopped ... never seen rain like it since we have lived nearby Lake Dunstan (use to be part of upper Clutha)

Lithium yes got LRS options ... had good rebound yesterday but flat today 2.1c ... actually very good buying with 2yrs to expiry ex.price only 1.2c (head share 3.3c so major leverage well in the money play)

[Crypto Crude]

https://www.google.com/amp/s/www.coindesk.com/bitcoin-vs-gold-inflows-demographics%3famp=1

There is growing evidence that since at least October Money has been pouring out or Gold and into bitcoin and cryptocurrency... when gold sells off bitcoin is rising ...

"This week, financial advisory firm deVere released the results of a survey of over 700 of its millennial clients, which showed two-thirds of them prefer bitcoin to gold as an investment. This means any new savings entering the market may be almost 70% more likely to be put in bitcoin than into gold."

[Aaron]

https://www.google.com/amp/s/www.coindesk.com/bitcoin-vs-gold-inflows-demographics%3famp=1

There is growing evidence that since at least October Money has been pouring out or Gold and into bitcoin and cryptocurrency... when gold sells off bitcoin is rising ...

"This week, financial advisory firm deVere released the results of a survey of over 700 of its millennial clients, which showed two-thirds of them prefer bitcoin to gold as an investment. This means any new savings entering the market may be almost 70% more likely to be put in bitcoin than into gold."

It is interesting, both are supposedly a currency and a store of value, also possibly a speculative bet as there is no income generated by either. It will all come down to people's perception. Bitcoin wins hands down on the speculative front as far as gains are concerned. Only time will tell which is a store of value or if either of them are a store of value. Certainly a new digital currency would seem more likely if a reset of currencies are required. Also some big names in investing and banks are getting involved in bitcoin.

[peat]

Bitcoin wins hands down on the speculative front as far as gains are concerned. Only time will tell which is a store of value or if either of them are a store of value.

I think time has told us that gold IS a store of value despite it failing any asset valuation test based on its future discounted cash flows as Snoopy uses to deride bitcoin (in fact all crypto)

So gold is the perfect example of why the DFCF test might not be the only useful asset valuation.
I still like to think there should be some yield potential from an investment though, and that the investment doesn't completely hang on finding another sucker to buy it off me.

[Crypto Crude]

It is interesting, both are supposedly a currency and a store of value, also possibly a speculative bet as there is no income generated by either. It will all come down to people's perception. Bitcoin wins hands down on the speculative front as far as gains are concerned. Only time will tell which is a store of value or if either of them are a store of value. Certainly a new digital currency would seem more likely if a reset of currencies are required. Also some big names in investing and banks are getting involved in bitcoin.
Buddy,
This is actually not true that crypto does not generate income......
With the explosion of decentralized finance (defi) you can stake you coins and get a financial return off them... paddles is actually generating nice income aswell as appreciation of assets...
...
Crypto is in a super cycle with crazy upside this year I would expect gold and precious metals to sell off as people switch their money to those savage returns....
:cool:cc

[JBmurc]

Buddy,
This is actually not true that crypto does not generate income......
With the explosion of decentralized finance (defi) you can stake you coins and get a financial return off them... paddles is actually generating nice income aswell as appreciation of assets...
...
Crypto is in a super cycle with crazy upside this year I would expect gold and precious metals to sell off as people switch their money to those savage returns....
:cool:cc


The Bit Short: Inside Crypto’s Doomsday Machine
The panic-
"This worried me. Most of my wealth was exposed in the form of Bitcoin, and Bitcoin seemed like it might be exposed to Tether. And Tether’s issuing company was under active investigation. I urgently needed to find out if this risk was real"
https://crypto-anonymous-2021.medium.com/the-bit-short-inside-cryptos-doomsday-machine-f8dcf78a64d3

I'm looking forward to making a Mozza shorting Crypto10 ... 1:5 Leverage ...

Only matter of time before it all falls apart ..

Gold hasn't been getting much love of late ...but as we have always known its high manipulated (just look at all the fines paid to date by the Bullion banks)

I wouldn't be surprised to see the Crypto world fall apart and funds head towards the likes of GOLD/SILVER/PGM's

Personal still holding many Gold plays but most have major projects in other minerals

$AUD Gold $2373oz

[zero]

Extraordinary, presumably this news will travel fast. I have always been skeptical of crypto currency but in the last few months have decided it has to many believers that sustain it. This tether story sounds credible and could be devastating for crypto.

[zero]

I did a quick search, it seems to me "the bit short" is personalising stuff that has been in the public domain since last June or longer. I would be a bit apprehensive about shorting on the basis of what it says, while it might be fundamentally correct it could be a scam of sorts itself. Time will tell.

[JBmurc]

I did a quick search, it seems to me "the bit short" is personalising stuff that has been in the public domain since last June or longer. I would be a bit apprehensive about shorting on the basis of what it says, while it might be fundamentally correct it could be a scam of sorts itself. Time will tell.

From the link 3 days ago ...I come across it from my twitter feed.... tether is the driver of much of Crypto's buying volumes much more than all major currencies ..
but yes this idea might have been around for awhile...

[zero]

I have been thinking some more about this. It seemed very "slick" to me the article or report, I was puzzled by its intention. Then I remembered that there are organisations that look for vulnerable or dodgy public companies. They short them, write reports that they make readily available to like minded people, the word spreads through social media. The reports are negative in tone, some times exagerated or even fraudulent. Several things happen if the reports are believed. Many of the people who wanted to buy the stock either change their mind or postpone the purchase. Some holders take profit or cut losses. Ultimately the stock price plummets and the initial shorter does very well. ( I think there was an article in the Sydney morning herald on the weekend)
It seems to me the writer of the bit short is trying this scheme. It is probably fair enough if what he says is true or not aiming to mislead. I don't know enough about shorting to understand the risks. But it does seem a good set up. Let us know how it goes JB.

[JBmurc]

I have been thinking some more about this. It seemed very "slick" to me the article or report, I was puzzled by its intention. Then I remembered that there are organisations that look for vulnerable or dodgy public companies. They short them, write reports that they make readily available to like minded people, the word spreads through social media. The reports are negative in tone, some times exagerated or even fraudulent. Several things happen if the reports are believed. The demand for the short side increases, probably lowering the price off a contract. Many of the people who wanted to buy the stock either change their mind or postpone the purchase. Some holders take profit or cut losses. Ultimately the stock price plummets and the initial shorter does very well. ( I think there was an article in the Sydney morning herald on the weekend)
It seems to me the writer of the bit short is trying this scheme. It is probably fair enough if what he says is true or not aiming to mislead. I don't know enough about futures to understand the risks. But it does seem a good set up. Let us know how it goes JB.

Have you ever talked with Crypto Bugs ?? its not like the sharemarket where companies are centralised and the market has decades of history ... Cryptos are made up assets the Crypto Bugs understand HYPE + HYPE = FACT... the guy basically exposes how fake the Buyer pressure has been as its not from real pay your TAXES Money around the world but made up tethers which are still under investigation ...

[Snow Leopard]

Whilst on the subject of this digital 'gold':

You may wish to try and answer the question as to why the reported daily trade value of bitcoin is very rarely less than 6% of its total market cap, and it can reach 25%.

[zero]

https://www.smh.com.au/business/markets/caught-in-a-bear-trap-how-short-and-distort-attacks-are-costing-australian-investors-billions-20201204-p56ksl.html

No, I haven't heard of crypto bugs. Any thing I see on crypto is just sort of incidental, I don't follow them. Another impact these reports by shorters will have if lots of people lease shares and sell them this will tip the supply/demand and be down ward pressure.

[Crypto Crude]

The Bit Short: Inside Crypto’s Doomsday Machine
The panic-
"This worried me. Most of my wealth was exposed in the form of Bitcoin, and Bitcoin seemed like it might be exposed to Tether. And Tether’s issuing company was under active investigation. I urgently needed to find out if this risk was real"
https://crypto-anonymous-2021.medium.com/the-bit-short-inside-cryptos-doomsday-machine-f8dcf78a64d3

I'm looking forward to making a Mozza shorting Crypto10 ... 1:5 Leverage ...

Only matter of time before it all falls apart ..

Gold hasn't been getting much love of late ...but as we have always known its high manipulated (just look at all the fines paid to date by the Bullion banks)

I wouldn't be surprised to see the Crypto world fall apart and funds head towards the likes of GOLD/SILVER/PGM's

Personal still holding many Gold plays but most have major projects in other minerals

$AUD Gold $2373oz

LOL the guy in the article is a complete loser...
All the FUD is to scare people from their crypto so the institutions can buy your crypto cheap...
This news about Tether is not new every few years it gets a mention and the market gets rattled...
Last week it was the double spend...

In 2017 there was various FUDs which lead to pull backs but crypto was in a super cycle and went huge... we are currently in the same super cycle of 2017 this has only just begun...
It's going real big this year.. traditional gold is a mugs game and people are selling their gold to buy crypto.. when crypto outperforms every asset class times 10 why wouldn't yah....

Murc you are over complicating a very simple procedure... I bet you would love to buy crypto but you dont know how to...

I manned up and put my house deposit into crypto... I have the tools to really crack the crypto by 2025 100x minimum... because I really understand its market cycles now... and bitcoin is going to $300k this year... its gona take until 2025 then I'm retired at 40 it's probably the most simple process you could possibly imagine...
I cant possibly afford to not be apart of this...
Tether FUD can kiss my arseee...
:cool:cc

[yabster]

Gold is not a mugs came- plenty to be made in that space, same can be said for bitcoin- if it goes to $300k then good luck to you- I don't know enough to invest so will stay out currently. How many coins do you have? ps are you shrewd crude with a diff name? Some of your oiler investments were to be frank awful if its you 9sure you made some $ as well though).

[Crypto Crude]

Yabster,
Anything other than crypto is a mugs game because the opportunity cost is so high....
Crypto is at least 50 times better than oil stocks...
The sooner you do know enough the better...
:cool:cc

[yabster]

Hi CC

I applaud your certainty- but have been investing long enough to know there is no such thing.

Anyone predicting a 10 bagger (bitcoin is $30k as I type and you have mentioned $300k) in shares or commodities I take with a grain of salt- as I assume you would also. I also think I know where the $300k is coming from - I watched a Raoul Pal video on kitco - so I do know a little bit..

https://www.kitco.com/news/video/show/Market-Analysis/3118/2020-12-03/Raoul-Pal-makes-the-case-for-$300k-bitcoin-in-18-months-Pt-22#_48_INSTANCE_puYLh9Vd66QY_=https%3A%2F%2Fwww.ki tco.com%2Fnews%2Fvideo%2Flatest%3Fshow%3DMarket-Analysis


What platform/wallet do you use?

[Crypto Crude]

Hi CC

I applaud your certainty- but have been investing long enough to know there is no such thing.

Anyone predicting a 10 bagger (bitcoin is $30k as I type and you have mentioned $300k) in shares or commodities I take with a grain of salt- as I assume you would also. I also think I know where the $300k is coming from - I watched a Raoul Pal video on kitco - so I do know a little bit..

https://www.kitco.com/news/video/show/Market-Analysis/3118/2020-12-03/Raoul-Pal-makes-the-case-for-$300k-bitcoin-in-18-months-Pt-22#_48_INSTANCE_puYLh9Vd66QY_=https%3A%2F%2Fwww.ki tco.com%2Fnews%2Fvideo%2Flatest%3Fshow%3DMarket-Analysis


What platform/wallet do you use?

There is no such thing apart from crypto man.. this is the greatest performing asset class the world has ever seen it's got legs...
I dont follow kitco !!!.. this is IMO...
I use trust wallet.. ftx.com and binance ... the trust wallet token was up 70% yesterday...
The targets are huge because this is the next layer to the internet... Michael Saylor said its bigger than the Internet itself!!!
There is no time to delay ...
Come onto the crypto thread in off market section...
:cool:cc

:cool:cc

[yabster]

have a look at the video- think you would get something out of it- he was very bullish on Bitcoin

[JBmurc]

Really my resource stocks keep cranking and IÂ’ll be retired in a few more months.. no need for online fiat tokens .. but if you can play it and win go hard ...

[yabster]

Hi JB

So are you going to cash up? I am looking at getting out of the rat race in 3 years -so hopefully can do the same.

A lot of your Goldies have done well - still wanting on CNB though- you should have stayed in HMX ;) - but its easy in hindsight!

[JBmurc]

Hi JB

So are you going to cash up? I am looking at getting out of the rat race in 3 years -so hopefully can do the same.

A lot of your Goldies have done well - still wanting on CNB though- you should have stayed in HMX ;) - but its easy in hindsight!

Your telling me I took most of the funds from my HMX trade into AGC new IPO I secured free shares in from my MAG holding ... has gone down while HMX boomed higher than my 7.8c sell...

Yes I will cash up least half of the share portfolio to buy another Commercial Property hopefully debt free ..I still would like to have a good few K in the markets least 200k more than my 200k of lending in the market ... Goal was to break 1mill AUD portfolio value ... before mid-year ... really want to see the NZD lower be great to get min 10% more NZD's than AUD ... first get to end of March see want my TAX will be after costs got to be careful don't want big TAX Bill = less capital in shares so don't want to take to many more profits ...might actually sell of any losses pre April etc . .. looking at commercial sub $600k yielding 8%+ + high NBS% .. got one on the watch-list right now!!! All about Passive income so If I have a rough year in the markets I can still pay the bills etc ...

As for companies .... yes Buying more CNB back to 100k shares but think CNB will play out more mid-year like AGC and prob MAG as well

My short term drivers will be WWI Mining right EA approvals any day now will double cap intraday ... I see MEU ann. 1m splits on record Gold hits ... LONG term HOLD with MEU will grow slow but high from here ...OBM Gold production first GOLD bar any day now ..

Also Copper play CHK + LRS many metals projects play holding truckloads of long-dated opts (I really like both if they both BOOM I might well double my target)

then I've only got my HIGH risk speccy RMX opts on RARE earth play thats heating up ...

I really need GOLD to pull back in the fast lane along with REE + Cu to help all of the above ... Histrionical MARCH has been my best av month of the year(outside 2020!!!) ...growth wise for last 16yrs+ ... MAY my worst so certainly thinking about pulling so cash aside if I get some boomers during next couple of months

[JBmurc]

https://www.goldmoney.com/research/goldmoney-insights/crazy-days-for-money

The real reason for gold’s underperformance is the establishment’s long-established antipathy towards it, something that should serve as a warning to hodlers of bitcoin. To regard gold as sound money is to turn one’s back to Keynesian macroeconomics, something the US Government, with its interest of promoting and retaining dollar hegemony has actively discouraged. In order to absorb demand for physical gold it has fostered the growth of paper markets, which can be expanded by the bullion banks at will. This policy goes beyond precious metals and includes base metals and other industrial raw materials as well, allowing the dollar to retain a more stable value measured against them than would otherwise be the case.

Consequently, bullion banks take the short side in the futures market, hedging long positions in London’s forward market. But today, the physical liquidity in London has virtually disappeared, replaced with unallocated gold, amounting to gold claims on the bullion banks. Other than the drip feed of mining supplies and scrap metal, the principal supply of physical is from leasing by the central banks which store gold in the Bank of England’s vault. But in these overtly inflationary times, it is likely that central banks will place greater emphasis on having their gold reserves both earmarked and unencumbered.

The precariousness of the situation was revealed in January 2020, when the bullion bank cohort made a determined effort to collapse open interest on Comex futures from a record 799,541 contracts on 15 January 2020. They succeeded, bringing open interest down to 469,893 contracts in early June. But while they managed to reduce open interest, they failed to reduce the monetary value of their short position.

[ynot]

https://www.goldmoney.com/research/goldmoney-insights/crazy-days-for-money

The real reason for gold’s underperformance is the establishment’s long-established antipathy towards it, something that should serve as a warning to hodlers of bitcoin. To regard gold as sound money is to turn one’s back to Keynesian macroeconomics, something the US Government, with its interest of promoting and retaining dollar hegemony has actively discouraged. In order to absorb demand for physical gold it has fostered the growth of paper markets, which can be expanded by the bullion banks at will. This policy goes beyond precious metals and includes base metals and other industrial raw materials as well, allowing the dollar to retain a more stable value measured against them than would otherwise be the case.

Consequently, bullion banks take the short side in the futures market, hedging long positions in London’s forward market. But today, the physical liquidity in London has virtually disappeared, replaced with unallocated gold, amounting to gold claims on the bullion banks. Other than the drip feed of mining supplies and scrap metal, the principal supply of physical is from leasing by the central banks which store gold in the Bank of England’s vault. But in these overtly inflationary times, it is likely that central banks will place greater emphasis on having their gold reserves both earmarked and unencumbered.

The precariousness of the situation was revealed in January 2020, when the bullion bank cohort made a determined effort to collapse open interest on Comex futures from a record 799,541 contracts on 15 January 2020. They succeeded, bringing open interest down to 469,893 contracts in early June. But while they managed to reduce open interest, they failed to reduce the monetary value of their short position.

I am very bullish on the up side potential for gold/silver. Particularly silver.
As Bitcoin has recently demonstrated, investors are desperate for a fiat alternative .
Printing $ is driving fiat down the drain. Bitcoin is a gamble, bullion is real.

[JBmurc]

I am very bullish on the up side potential for gold/silver. Particularly silver.
As Bitcoin has recently demonstrated, investors are desperate for a fiat alternative .
Printing $ is driving fiat down the drain. Bitcoin is a gamble, bullion is real.

Yes Metal is needed for modern man in ever-day life and tech moving forward ...demand far higher that present supply...

BTC great for those gambling with one another ... but if cancelled tomorrow wouldn't bother 99.9999% of humans on the planet

[Crypto Crude]

Yes Metal is needed for modern man in ever-day life and tech moving forward ...demand far higher that present supply...

BTC great for those gambling with one another ... but if cancelled tomorrow wouldn't bother 99.9999% of humans on the planet

LOL !!!!

You are feral to the touch about crypto ...
It goes up and up and up thousands and 10s of thousands of percents and you just keep saying the same thing about it...

At some point you have to zip it tight because it's getting that embarrassing for you...

:cool:cc

[Crypto Crude]

The others have dissipated on the subject for obvious reasons...
Now you should too...

Bitcoin heading closer to a 1 trillion dollar market value...
It's not a babe in the woods no more !!
:cool:cc

[JBmurc]

LOL !!!!

You are feral to the touch about crypto ...
It goes up and up and up thousands and 10s of thousands of percents and you just keep saying the same thing about it...

At some point you have to zip it tight because it's getting that embarrassing for you...

:cool:cc

Nope .... I'm far from embarrassed .. just enjoying the show ...you keep chasing that bubble

[Crypto Crude]

Nope .... I'm far from embarrassed .. just enjoying the show ...you keep chasing that bubble

Should be buddy...
You couldnt have possibly called it anymore wrong than you have...
That is why the others like blackpeter and balance dont talk about crypto anymore...
:t_up:cc

[Crypto Crude]

JBmurc,

Bitcoin has gone up in value 10,000% since you said no about it...
Maybe even more than that....
It's still not too late heaps of return on the table this year still...

:t_up:cc

[Crypto Crude]

Bitcoin $50,000us
Jbmurc "no"
Crypto "LOL"

:pcc

[Aaron]

I guess my reason for investing in gold was fiat currency debasement. Is a whiff of inflation and possible increase in interest rates taking away golds shine.

Possibly Crypto is the new store(massive increase) of value, certainly much sexier than gold. Bad day today for my gold miners, possibly should bail while I am ahead, may need the cash for my house deposit.

Any thoughts on the direction of the price of gold near-mid term.

[Aaron]

I will struggle not to feel a bit of schadenfreude if bitcoin takes a tumble after reading the earlier posts but well done to those investing next stop $100,000 apparently.

As difficult to value as gold I suspect.

[Bjauck]

I will struggle not to feel a bit of schadenfreude if bitcoin takes a tumble after reading the earlier posts but well done to those investing next stop $100,000 apparently.

As difficult to value as gold I suspect. If I had to choose I would opt for a glistening gold necklace over a SSD Wallet! In a crisis, gold’s value would have more of floor to it?

[Crypto Crude]

If I had to choose I would opt for a glistening gold necklace over a SSD Wallet! In a crisis, gold’s value would have more of floor to it?

What The global financial crisis of 2008 proved to us is that all asset values crashed... this would also include crypto...
And its coming...
I suspect late this year or early 2022 inline with a crypto besr market...
Stocks are 100% in bubble territory...
The valuation of Tesla makes crypto look like a tame pup...

:cool:cc