Fresnillo Share Discussion Threads

[arja] 24/11/2016 12:49

fRES tried to rally but then hit by sellers - hard to pick next gold price move

[deanroberthunt] 24/11/2016 08:16

telling ya, gold to $1050, Silver $14, FRES 1000p, CEY 100p...its in them there charts

[hectorp] 23/11/2016 20:11

well you decide

[bonio10000] 23/11/2016 18:41

New multi year Dollar highs, bond yields rising....

What could go wrong?

[hectorp] 23/11/2016 18:31

I expect many of Trumps pals and colleagues are personally gold and oil men , at their heart. Remember George Dubbya Bush's chums? It'll be like that .

This STILL remains a very unusual opportunity to add to silver , Fres , Hoc FR and gold miners, maybe wait until Dec expiry is out of the way I think it is Tuesday and of course anything can happen in the Far East when NY is closed for Turkey day.

[dmitribollokov] 23/11/2016 15:12

yeah nobody could have forecast this happening

[arja] 23/11/2016 14:40

hard to pick a target for a gold or silver stock and charts are of limited use but normally very useful for most other stocks. So price of gold and silver will determine share price as always .

[topicel] 23/11/2016 08:42

Hect, I agree with you that gold would need to be lower, much lower, for Fresnillo to slip to £10 a share, but over-shooting does occur, n'est-pas?!

This time last year I was sitting on Fres at £6 a share, and gold was around 1100 an ounze...

The political upheavals and those to come in 2017 are plenty of support for both PM prices and related investments to not fall much further IMHO. That is what basic shorters are missing in this present dip in value.

Comex OI settlement for December (and obviously the year) plus the Italian referendum (Dec4) and the Yellen's decision day mid-Dec will all add uncertainty. And with each passing day the Trump euphoria is easing and people are starting to consider the consequences of huge fiscal stimulus in either the forms of big inflation or QE4 both of which aid gold...

Topicel

[deanroberthunt] 23/11/2016 04:31

hns on the silver chart, technically a retest of $14 is possible, next test is $16

[hectorp] 22/11/2016 19:40

1000? never, it will follow gold, gold would need to be $ 50-80 dollars below 1200. I cannot see a case for it.

There is a good case for stronger silver prices, in an exciting new trading world , with base commodities doing very well, silver might well join in ( until Trumpet over in Washington fails and it all collapses. )

PM's are already a good insurance on Trump failure. And by isolating, he cannot succeed. ( I say this as a neutral, I was not for Clinton).

[ukgeorge] 22/11/2016 17:10

£12 certainly looks likely

[deanroberthunt] 22/11/2016 16:38

surely a retest of 1000p is on the card here.

[hectorp] 22/11/2016 13:23

Thanks Topicale, very kind, I'm up a few pence this week, but of a dip here and HOC today though, hard to know why but its only a day.
It is good to see another general economist around ( yourself as per the above)its how I tend to think as well. Bond selling and crippling emergers? that's started. Now, he will certainly drop the Trans Pacific trade deal on his ist day of office ( stated). You didn't mention the Wall Street setup. That will fall back, correct after any definite rate rise. If there is not one, the stock market gets to over 20,000 in January. If no rise, will gold rise with the market as the dollar will certainly fall.
There are dynamics however that we can't yet get to grips with. I'll be content to sit where I am now, until he takes office in January and then see how gold and silver are doing before adding any more cash to positions. I'm about 25% invested now.
H

[topicel] 22/11/2016 09:33

If Trump holds enough sway he will not want Yellen to move until he's raised his infrastructure finance, will he?

Low interest on that must be preferable and given his 'day one' to do list we must equally expect early Q4 to kickstart the economy. More sweets for Wall Street, same old, same old.

But, if I'm not mistaken, that too is good for silver and gold...those $50 and $2,000 an ounze prices might just return sooner than we think.

So what we have is let rates rise, cripple emerging markets and bring on more bond selling and mortgage-backed security pressures as inflation surges, or Q4. Both result in gold being let off the leash. Am I mistaken?

Is there an alternative scenario that continues to see gold trashed for the foreseeable? How far can manipulation go? Was it really just a Clinton/Obama tool or can Trump access it?

Will he want to even? Tie the dollar back to gold and sod the rest of the world, but that too adds fuel to the PM fire.

Mmmm, good call last Friday Hectorp for the short-medium term into 2017....

Topicel

[hectorp] 21/11/2016 18:24

Therein ? aha!

[bonio10000] 21/11/2016 17:26

Struggling to raise rates 0.25%

Therein is your answer.

[topicel] 21/11/2016 11:14

He seems to be glad-handing everyone he slagged off during the election and vice-versa they are all 'warming' to him through gritted teeth.

If the Fed is impartial, we should know soon enough with the rate rise. If they put it on hold again, we must suspect Trump's people have influenced them and we will continue with low rates until Trump has raised his billions...

Mind you, how does the market then react? No inflation presumably either...

Topicel

[hectorp] 21/11/2016 10:19

Do we think Mr Trump will be able to co-operate with Yellen and the Fed? I see what you are saying though

[chickcrumbs] 21/11/2016 09:30

To my mind the Donald needs a low interest rate environment to finance his tax cuts and fiscal spending. It will be interesting to see if the FED will be supportive.

[hectorp] 21/11/2016 09:27

There are people attracted to reversal markets as we see with silver, so will always get someone saying its going dawn! even on the very week an actual bottom is found.( whenever that is!) I launched into FRES on Thursday along with HOC and long silver and gold positions.
There are several reasons PM's fell but no doubt several why they should not have, or will reverse,
I won't go into all that just now but see what copper did rallying recently, it is not beyond bounds for silver to rally on its own if markets start to appear buoyant we should have a look next week at silver we may get a pleasant surprise.
H

[discodave4] 19/11/2016 11:10

Cheers dmitribollokov,Good luck.DDPs the disco has nothing to do with the dance craze, before my time.

[dmitribollokov] 18/11/2016 21:01

Nod to you for that disco dave. Fwiw i do think these go much higher longer term, was just saying what i saw; I'm not one of the schadenfreude gang. Will be getting finger near the trigger on monday, but am pretty much still all in cash atm.

All the best.

[discodave4] 18/11/2016 20:18

Fair play dimitribollokov.Will admit thought support at 1387 would hold but it didn't and it's gone through 50% fib, as a holder naturally hope that's it now!.DD

[dmitribollokov] 18/11/2016 19:31

That's the gap nearly filled, now for the overshoot into £11-handle territory. Horrible looking chart...