Golden Prospect Precious... Share Discussion Threads

[davebowler] 15/7/2016 12:29

Extract

Precious metals saw $800m of inflows, continuing a trend of inflows in 25 out of the last 27 weeks.

[dogberry202000] 14/7/2016 16:42

Lots of small sales today. Topped up right at the end of the day. The surprises will be to the upside in this bull market.

[stevieweebie2] 12/7/2016 16:28

57.64 still holding up.

[davebowler] 12/7/2016 11:15

Net asset value as at 08.07.2016 of

Golden Prospect Precious Metals Ltd

(TIDM: GPM):

NAV-bid........... : 57.08 GBp

[stevieweebie2] 11/7/2016 21:53

Still a decent discount to nav.

[bamboo2] 11/7/2016 13:14

Watching the dxy...
Taken a few off the table.

[mad foetus] 11/7/2016 10:38

FRES up, sterling down. Will be good to see FRES break through £20.

[panic investor] 10/7/2016 07:22

Nearer 400 billion - Italy

[davebowler] 09/7/2016 19:17

Max Keiser with Andrew Maguire in second half on Precious Metals

[plasybryn] 09/7/2016 13:32

IMF apparently said this week, Deutsche Bank poses the greatest systemic risk to the global financial system - $72trillion of derivatives.
Failed the Feds' stress test for the 2nd time in 2 years.
Share price falling and following very close to the Lemain Bros trend before they went bust.

Italian Banks need 40 billion euros.
Other banks on the IMF list apparently.
1. DB
2. HSBC
3. Credit Swiss
This was all reported on the Keiser Report last week.
DYOR

[dilbert dogbreadth] 09/7/2016 11:38

I think you've under estimated DBs derivative position. I've seen written it's about 70 trillion.

[highly geared] 09/7/2016 11:33

I've traded this twice in 3 months; took profits but had to buy back 1-2p higher.
If you believe gold is now back in bull territory ( 5 year chart wise it is) then best to hold and set a 20% trailing stop loss.
Yesterday was very significant in that the US NFP stats were published and the Comex tried to drive down the gold price. However, the $25 spike down was bought back by longs with gold ending $5 up. What this tells me is the market is now considering gold in a global context(Brexit, EU imploding, Italian banks on the edge , Deutsche Bank 1.2 $ trillion derivatives time bomb , Japan QE causing a rising Yen , China etc).
Interest rates cannot go up as sovereign debt becomes unserviceable,$15 trillion of QE has distorted markets that are now reliant on ultra cheap money and government intervention as the maker of last resort.
Overlay the 1960- 1980 gold price charts with 2001-15 and project to 2022. Gold ends up north of $5000.
The hardest thing to do here is to buy and hold for 5 years but if things play out as I think they might , then we will see £5-10/ share.

[dilbert dogbreadth] 09/7/2016 10:03

Glad I'm not alone in trying to trade this and getting it hopelessly wrong. I now have a large position ad will keep it. Might even buy some more Monday if the price isnt raised first thing.

[dogberry202000] 09/7/2016 09:55

Brugen. That's the best strategy to adopt with this closed end fund. Did the same type of thing but bought the first position in 2014.

[brugen] 09/7/2016 00:31

I bought and held in the third week in January. I doubled up in the third week in February and I'm still holding.

I'd like to be feeling very smug but I also bought in 2011 and I'm still holding that.

I find buying easier than selling

[professor pettigrew] 08/7/2016 22:05

hazl and others - many thanks.

[dogberry202000] 08/7/2016 21:34

That's similar to my experience, bamboo2, five years of probably the most testing bear five-year correction ever within perhaps any bull market has trained most of us to take small profits, when we were fortunate enough to make them. Probably best to have mental stops.

[mad foetus] 08/7/2016 20:30

I'm thinking buy and hold as well. Worst case scenario, gold drops sharply, back to $1200, and the so probably goes to around 20p. Very unlikely and won't happen quickly imo. But the best case scenario? Well, the profits of miners grow pretty quickly from here - any increase in pm prices goes straight to bottom line. Gold at $1,800 again and the share price here would be what? £1.50? £2? More? Just looks a lovely risk reward ratio and hedge against so much.

[dogberry202000] 08/7/2016 19:23

After early falls and an unsteady first two hours, PM stocks are making good progress again in New York. All grist to the mill for GPM.

Brucie, I sold around 10k for 35p some time ago, only to have to buy them back at far higher prices later. Not worth the trouble or the expense. There will come a time to lighten up but that time may be several months away. Let's make good money out of this PM bull market, Brucie!

[brucie5] 08/7/2016 16:41

Quite agree. This is a buy and hold for the medium/long term. Commodity bull markets can run for years; remember oil from 2002 - 07, and what happened to the likes of TLW and SIA. To my mind, current circs point to a secular bull run, while funds up their pm weightings from c. 1-5%, or higher. That kind of run up can become parabolic, as then there's always the overshoot.

[dogberry202000] 08/7/2016 15:49

Took the chance for another modest top up. Selling nothing as it's not worth trying to play this.

There will come a point when dividends will become a real possibility. That may yet be a little time off but the potential grows with each week.

If the top of the PM complex is seen around 2021 Lord only knows what price GPM will be then.

[davebowler] 08/7/2016 15:28

Net asset value as at 07.07.2016 of

Golden Prospect Precious Metals Ltd

(TIDM: GPM):

NAV-bid........... : 56.12 GBp

[mad foetus] 08/7/2016 12:04

Also bear in mind that it will take longer to transact with certified shares rather than those that are, to use the technical term, dematerialised. If you want or need to sell in a hurry it could cause you difficulties.