Pan African Resources Share Discussion Threads

[master rsi] 29/12/2016 17:12

Gold rises as the dollar and U.S. bond yields decline Source : By : Clara Denina Thu, Dec 29, 2016 17:31 hrs

LONDON - Gold prices rose to their highest in two weeks on Thursday as the dollar and U.S. bond yields declined following weaker than expected economic data. Spot gold hit $1,150.26 an ounce, its highest since Dec. 14., and was up 0.4 percent at $1,146.16 by 1122 GMT. U.S. gold futures rose $6.30 to $1,147.10 an ounce.
"Gold is not out of the woods yet but yields are a bit lower and the dollar is weaker, especially against the yen and yen-gold has showed a phenomenal correlation since the U.S. election," SaxoBank head of commodity research Ole Hansen said. Gold fell more than 8 percent in November as U.S. Treasury yields rose after Donald Trump's election led to speculation his commitment to infrastructure spending would spur growth.
The precious metal then hit a 10-month low on Dec. 15 as solid U.S. economic data gave the U.S. Federal Reserve the confidence to raise interest rates for the first time in a year. The central bank also signalled that it expected three more increases next year, up from a previous projection of two. Gold is highly sensitive to rising interest rates, which lift the opportunity cost of holding non-yielding assets, while boosting the dollar, in which it is priced.

However, gold prices are still 8 percent higher than they were at the start of the year and were heading for the first annual increase after three years of declines. "We are battling a bit here with the $1,150 level and if we make it above that we shall open up towards $1,165 but in order for funds to start getting worried about covering shorts, we probably need to rise above the mid $1,170s," SaxoBank's Hansen said. The dollar fell 0.6 percent against a basket of six main currencies, mostly due to the yen's strength, while the benchmark 10-year U.S.
Treasury yield slipped to two-week lows. "Heading into next week ... the Italian bank rescue and the direction of the Chinese yuan will likely dictate near-term pricing in gold, especially if equity markets start to get nervous about either of these two developments," INTL FCStone analyst Edward Meir said in a note. Gold is usually seen as a refuge from riskier assets such as equities.

China's net gold imports in November via its main conduit Hong Kong dropped 17.8 percent from October to the lowest in 10 months, data showed on Thursday. Among other precious metals, silver rose for a third straight session, up 0.8 percent at $16.10 an ounce. Platinum was 0.1 percent higher at $903.20, while palladium climbed 0.9 percent to $671.20 an ounce.

[master rsi] 29/12/2016 16:59

GOLD

just spiking all the way to $1158 + $15.5

[nofool] 29/12/2016 16:24

Correction Don. I am. lol

How was your Christmas?

[master rsi] 29/12/2016 16:18

What a turn around on the order book, from being very bullish ( some manipulation by who I do not know )taking trades away from the bid side and adding some at the offer side and the "AT" on the bid side take control for a few minutes and able to buy below 14.75p, but only a couple of 15 and 10K did, now are buying at 15p again as the bid side gets stronger again

[donald trumpton] 29/12/2016 16:14

You're no fool.

[dt1010] 29/12/2016 16:03

I am here for growth not dividends.

[srpactive] 29/12/2016 15:56

Yes, I am still happy though.

dyor

[plasybryn] 29/12/2016 15:40

Is everyone aware of this?

"I can confirm the Pan African Resources dividend payment is subject to 15% South African Withholding Tax which is deducted at source, resulting in a dividend payment of 0.746488p per share"

[donald trumpton] 29/12/2016 15:16

Some US Gold miners are breaking their downtrend from mid July right now!

[dt1010] 29/12/2016 15:14

Just bought another 63088 at 15.38p.

[dt1010] 29/12/2016 13:30

My 18's will be fine. My main holding is at sub 15p with more at 15p, as posted.

Am expecting this back in the twenties in no time, will review the lot at 30p.

Enjoy and moderate accordingly ;)

[master rsi] 29/12/2016 13:17

It looks like the last of the Iceberg @ 15p offer is gone, as for 30 minutes the offer is at 15.50p and naturally the bid is gone to 15p after such a large buying 2M so far

[master rsi] 29/12/2016 13:12

Someone bought at around 18p (at the time below )
with time will get the money BACK
but before is doing a lot of BARK.........


DT1010 - 02 Dec 2016 - 14:06:52 - 9326 of 9519
Pan African Resources for 2006 (PAF) Moderated - PAF
Nice. I just bought mine here. Not yet showing ;)

[panic investor] 29/12/2016 13:01

Blimey was it postal ! lol Remember those days !

[mister md] 29/12/2016 12:47

Well if that was the bottom then I'm happy with my last purchase at 14.0p (and I have the contract note to prove it) ;)

[dt1010] 29/12/2016 12:44

It'll move up when it's ready. This is not a race!

[master rsi] 29/12/2016 12:28

As I said earlier, there was 25K left at 15p offer, and as soon it was taken with "AT"s, another 25K was added from the "iceberg"

note
• Recognising and trading off ‘iceberg orders’ that can be identified on a Level 2 screen.
An iceberg order is a large single order managed by an exchange that has been divided
into equal quantities by the use of an automated program, for the purpose of hiding the
actual order quantity. This can hold back the share price at a specific level as the
full extent of the order gets executed.

[parsons4] 29/12/2016 12:04

That's why I don't pay for Level 2

[master rsi] 29/12/2016 11:41

Level 2

Has been moving higher with a steady rise for the last fews days, today is no difference on looking at the order book.
Well supported on the bid side 34 v 12, though things change fast sometimes and when one expect to move forward as there is not many shares left at offer price, suddenly more are added when one thought all are gone, those added where "iceberg" waiting on the order book but not showing.

what is the point then, one would say, there is always tricks for us not able to see the real thing, despite paying for Level 2.

[dt1010] 29/12/2016 11:06

Enough Gary. Act your (advertised) age.

Time to filter you for the preservation of this BB.

Bye bye. And get some help.

[garycook] 29/12/2016 10:55

DTBS,I am waiting for your email address.But you do not want to see the truth.Now £555,612.89 !!!