Golden Prospect Precious... Share Discussion Threads

[highly geared] 01/9/2016 19:16

Gold may test the 200 day SMA if a rate rise is confirmed (say $1250-60 region). A bounce off that will signal the next big up leg. Poor NFP numbers tomorrow will see a resurgence as it will indicate one 0.25% rate rise in December at worst.

[professor pettigrew] 01/9/2016 18:17

If Yellen and the Fed raise rates, then gold will surely go below $1300.

If it does and drifts down to the $1200-1250 level then brilliant.

A great opportunity to pick these up below 40p for the long-term run up to a fiver by 2020.

[wizard7] 01/9/2016 17:15

Maybe - but if they do what will they have to do pay the bills? Election in November fraught enough without a stock market 'crash' in the summer perhaps... Guess we'll find out soon! And stop calling me Shirley...

[bamboo2] 01/9/2016 16:15

wizard, shirley they must raise?

[wizard7] 01/9/2016 16:13

half kitchen sink deployed into PM miners - other half depending on Jackson Hole tomorrow...

[brucie5] 01/9/2016 15:19

Good man. Could go down to previous short term low at just over 40p. Then bounce back to 50.

[bamboo2] 01/9/2016 15:17

I just started to buy back in at 43.275

[joy division still] 01/9/2016 13:37

I have a small Long Term holding in this as I like the Gold theme and the fact its an IT (less risk in 1 company / mine running out / mine collapsing etc)
But reading the thread i cant get a handle on if this is a 'quality well run IT' Any long term holders offer any views?

[bigdazzler] 01/9/2016 11:25

I'm looking closer to 40p. I will get it as well if gold dips below 1300 and towards 1250.

[wirralowl] 01/9/2016 10:32

Took a few for my SIPP yesterday at sub 45p. I'm more than happy to hold for the LT, for those £5+ targets you talk about.. :-)

[dilbert dogbreadth] 01/9/2016 08:15

cheers I'll have a look

[bamboo2] 31/8/2016 22:32

dilbert, apexes of triangles are known to have an effect on the chart. You could try a google search to find out more or look here,

[professor pettigrew] 31/8/2016 22:23

There should be no fear about continually accumulating this stock, as it's already trading at a NAV discount of around 20%.

I'm taking a 3-year view to see both $3,000 gold and £5 GPM, so any short-term price fluctuations are merely superfluous.

[professor pettigrew] 31/8/2016 21:52

September to March is traditionally the best 6 months of the year for gold.

Though not always.

Just think for a moment, worldwide interest rates nailed to the floor - negative in some cases.

Its reckoned that QE worldwide is running at £1m per MINUTE, 24 hours per day, seven days a week.

But, of course, as we live in a digital and electronic world, that printed money isn't necessarily staying in the country it's created in.

So, it follows that worldwide the money supply is expanding rapidly. The M4 money supply in the UK expanded at it's fastest rate for 5 years in the past quarter.

Growth in anaemic, and central bankers are hooked on easy money to create growth.

Eventually they will go over the top. They will expand QE too much. They will tip interest rates into negative territory in more and more countries. Finally, they will give serious consideration to "helicopter money" and one or two countries (most notably and probably Japan) will directly place newly created money into the bank accounts of the general populace.

Remember, this can all be done at the touch of a button. Confidence is waning in paper (fiat) money. When all the above are enacted on at the same time, and with the cooperation and connivance of central bankers globally, that's when the gold price will start it's long ride upwards to $3,000 per oz or above.

Isn't it strange that all central banks around the world are pining for inflation? Isn't it stranger that their target is the same figure? 2%.

As with everything financial, overshoots occur on the upside as well as the downside.

I believe by 2020 we will be presented with worldwide negative rates, massive and constant QE and sudden stagflation. That will be very difficult to control and will be the trigger for the massive influx of funds into gold.

The best thing that can happen to gold is for it to fall over the next 3-6 months below $1250, and possibly below $1200. Let the central bankers have confidence that their policies are working. They hate gold. That timeframe will give investors here plenty of time to accumulate this stock at or below the 40p level for a number of months.

When the golden worm turns, it will be sharp, sudden and severe. The idea of a £5 GPM share price won't look so fanciful after all.

[dilbert dogbreadth] 31/8/2016 21:37

I'm not going to pretend I understand that bamboo but thanks for posting. Are you saying turn date 5th at about current price or way down at 1230-1240?

[bamboo2] 31/8/2016 20:02

dilbert, the first apex [vertical black line] is on Monday 4th Sept. The second one [vertical red line] is on October 14th 2016.


edited for clarity

[bamboo2] 31/8/2016 16:11

yes, will do sometime after Nymex closes around 6.30pm [bst]

[dilbert dogbreadth] 31/8/2016 16:04

Can you post it Bamboo?

[bamboo2] 31/8/2016 14:06

dogberry, thanks for noticing!

re, $gold chart, We've got another of those potential, historical triangle apex, price turns comming up early next week. Looks like Monday 5th September [pm]. No guarantee, but they seem quite reliable so far...

Look for a reversal around then.

[brucie5] 31/8/2016 12:50

dogberry - £11: that's an ambitious call! £5 would do me.

[dogberry202000] 31/8/2016 12:25

Well done, bamboo2 on playing the recent top. It's not something that I am good at but I bought the 10% that I sold earlier at 53.5 for 47p yesterday and I'm comfortable with that.

Professor, £5 would be great for investors in GPM. I realise it might seem outrageous but my own ballpark figures for the final top for GPM during 2021 to 2024 is between £11 to £15 a share depending on whether we see a HUI/XAU at 3 or four times the final top in gold. That's based on gold at $10,000 an ounce. Given GPM is so heavily invested in silver miners even these figures for the share price may be deeply convervative! Hopefully, I'll be around to see it!

[brucie5] 31/8/2016 12:21

Yes, so far buying the dips has been a successful strategy. The last dip has been the most pronounced. I've lightened on my other pms; not yet on GPM as that's a core holding.

[professor pettigrew] 31/8/2016 11:45

It's very simple. Just buy the dips.

If you believe the gold story, then over the next 3 years these are a steal.

I believe gold will reach $3000 by 2020 and these will be trading at £5.

IMHO and DYOR, but everything points to my being correct.

Short-term though, we will go below $1275 and 40p. That's the time to shovel these up.