Fresnillo Share Discussion Threads

[dmitribollokov] 07/12/2016 22:06

dmitribollokov - 14 Nov 2016 - 11:55:02 - 3947 of 4017 FRESNILLO precious metals - FRES
Yup gap fill and then overshoot to the 38.2 fib around 1140 would be my guess...

Remember getting slagged off for this (one muppet even filtered me!). Think we may have bottomed here. Watching closely tomorrow. GLA.

[topicel] 07/12/2016 17:00

You are in gold! Well, mostly these days silver miners are far from pure silver plays.

Anyway, at present silver is surging as someone has twigged that it has both monetary safe haven value properties and industrial uses. The latter in the solar panel game is key going forward as there simply isn't enough production out there to cope with the demand from the likes of the Chinese, Indian and even Morrocan government programmes to be self-sufficient in energy from this source in the near future.

Topicel

[mrthomas] 07/12/2016 16:46

Thanks still early days just need to learn that should cut loss but not always easy espically as the last few trades on this stock when well. Am looking at going into gold possibly in the next few days given we coming to end of year

[topicel] 07/12/2016 12:57

A very frank admission MRThomas. You certainly did well with earlier buys but like most here were completely blindsided by the Trump win - or at least the perverse market reaction to it after the initial shock moves went as expected.

How many held during the morning of the 9th anticipating even more momentum for silver and gold during the day and beyond? Most I suspect, which is probably still the right thing to have done longer term once the short plays that were bought by massive paper PM price manipulation start to unwind.

As we are now at the start of a new open interest period for 2017 I'd imagine slowly the shorts are closing, hence the decline in values is being halted, and a reversal will take place.

The initial reaction post election was the correct and in-hindered natural one, or so history tells us. Trump wants to make America great again and a strong dollar won't help him in that aim and he has a liking for gold. If not a return to the gold standard something quasi-like perhaps?

After QE who knows what machinations and inventive accounting might come forth? Either way the only rational response is to hold gold and silver in all its forms. And yep, that includes Fres to see, as you say, "where it goes"!

Your £16 buys aren't losses until you sell, and the dividend is always a help while we wait the turnaround, and potentially on the earnings in 2016 a special dividend too as in 2014...

Topicel

[gymratt] 07/12/2016 10:31

£10 does look like a good 'bounce point' on the chart,IMO.

[deanroberthunt] 07/12/2016 09:00

1000p fill ur boots

[mrthomas] 07/12/2016 02:27

Brought in again a few weeks ago at just under 16 expecting it to go up again now trying to work out what to do should have sold at a loss of 10% but did not and left in no man land now

Have done well on this share this year so see were it goes

[stevenrevell] 06/12/2016 09:02

I think we are almost at the bottom now with gold

[topicel] 06/12/2016 08:50

Hectorp, I tend to agree that any serious intention to raise rates into 2017 that is communicated to the market will stoke inflation. That is surely their plan and hope as they now have a promised fiscal stimulus to rely upon following on behind.

However, as you say, Main Street USA won't be able to cope with real rate rises if it means paying more on their mortgages and loans. That can only hinder any recovery as people refrain from spending on other goods and services.

Higher rates curtail company expansion too if they are paying down debt. Fiscal stimulus can help but the theory now is that companies will just automate more, having not done much of that in the last few years, and that won't actually be good for jobs...

Their best hope is to devalue the dollar. I have read that Trump is secretly an admirer of the days of the gold standard so, in some form or another a pin to that might be coming. Hence the drive to get it lower in recent weeks.

If you want to link to something then better starting from as low a base as possible. If this did happen then I'm assuming that gold must fall further and then would receive a significant premium. Once all the banksters are on board of course...

Meanwhile, are you still holding your recent Fresnillo purchase old bean? Presumably heavily underwater for now but with the hope that the Fed rate hike is more than priced in and a turnaround is in the offing.

Whether for the reasons you and I have mused above is open to debate, but for the life of me I can't understand how such a still precarious world can be so resolutely ignoring safe havens like gold and silver and/or the Yen.

Like late 2015? Time will tell.

Topicel

[hectorp] 05/12/2016 19:57

arja they have pretended for many months that they shall raise rates. Yes they May raise then this month , but real rates will remain negative while the fact of raising rates repatriates more bonds.
Yes they want some, inflation, say 2.5% so may raise, but the world is sitting on a layer of house mortgages and derivatives which are NOT designed for say 3 or 4% rate.
The Fed, no full well that they really want to NOT raise.
So what will happen in the next couple of weeks.

[topicel] 01/12/2016 17:55

Funny how the jobs claims rises significantly after the election whereas beforehand it had a mysteriously good bounce...

First signal that the Fed might use to diffuse all the expectations when they hike by a measly 25 basis points and dampen expectations for more too soon citing, no doubt, the need to establish the necessary fiscal policy framework of the new administration or some such claptrap.

They simply can't let the dollar get away from them as it will kill exports any more than they can let the interest rate go crazy as the debt servicing of Emerging Markets and their own 18 trillion will smash any feeble growth hopes in global GDP.

They know that the days when the Yanks could do it all alone are now long gone.

Topicel

[arja] 01/12/2016 14:13

market generally oversold today with dow futures picking up . all depends on what happens when physical market opens in 15 minutes !

[arja] 01/12/2016 10:26

chart suggests gold price has quite good support at about $1100 . It used to be that gold was a hedge against inflation but nowadays interest rates seem to more relevant .

[dmitribollokov] 01/12/2016 08:29

There's the £11-handle.

[deanroberthunt] 01/12/2016 08:22

1000p then buy

[topicel] 28/11/2016 08:59

Hect, if we get $1350 gold then we will be north of £20 here and your buy of a couple of weeks ago will seem must apposite!

I presume you've held on despite a further hit last week? As we are all told so often, no-one calls the bottom (nor the top) or else they are very, very lucky.

The break below the post-Brexit gap could well be the close longs have had to suffer but everything else in the global economic malaise is no different to what it was prior to Trump winning, so just like Brexit the overshoot to the downside has also probably been overdone here and in PMs generally.

Topicel

[s0lis] 24/11/2016 19:41

Well, 24th June gap closed. Let's hope business resumes tomorrow as the usual we used to know.

GLA

[hectorp] 24/11/2016 19:15

dean what are you on, really! 1050 gold lol.

$1350 gold by February. We are in a very volatile, unknown period.

[discodave4] 24/11/2016 18:28

UKJust ignore rhyming slang (Deano), never called PMO right or oil, went from ramper to deramper then back to ramper.DD

[deanroberthunt] 24/11/2016 13:06

told ya 6 times $1050, aren't you listening

[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.